Buying vs. Renting a House in the Netherlands (Dutch Housing Market)
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- čas přidán 28. 06. 2021
- Should you buy or rent a house in the Netherlands? In this video we're looking at the pros and cons of buying vs. renting a house in the Netherlands and exploring what's been happening inside the Dutch housing market.
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//QUESTION: Will you be buying or renting a house in the Netherlands?
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//DISCLAIMER:
I'm not a certified realtor or real estate agent, the insight I share in this video is for edutainment purposes. I encourage you to do your own research before deciding to buy or rent a house.
Great vlog. I live in New York and I finally stop renting and purchased a condominium (a flat.) I got tired of paying rent and landlords. It was so worth it.
Glad to hear that! Thank you for sharing. 😊
That price rise is crazy...100.000€ in just 4 years. Still properties in cities like Den Hague and Rottertdam are not that expensive, especially when you compare them with other cities in europe union. I mean, you can easily get really nice 80sqm apartment for 300-350k in good part of Rotterdam(4-5km from city center). It would cost you more in Prague where average salary is much lower, you will pay just little less in Warsaw where average salary is 3 times lower, Rome and Milan you will pay more and salary is almost 2 times lower...and how about German cities where apartments are around 10.000€ per sqm(Stuttgart, Berlin, Düsseldorf ,Cologne).
Thank you for this informative video! My plan right now is to move to Utrecht with my boyfriend for at least two years. Sounds like house prices are quite high in the NL so I think renting will be a more realistic option for us as fresh graduates. We are definitely interested in buying an apartment later when we return to Finland though. But who knows, maybe we’ll end up staying longer and buying one in the NL😋
Thanks for the info.....couple of quick qns
1) can I purchase a house on own stay home mortgage & modify the the house to keep tenants in the ground floor & I stay in the 1st floor.....is it possible?
2) can I put one of my room of the mortgage (own stay) house into air bnb ? Is it allowed ??
Thats good info 👍
Happy to hear! Thanks for watching.
Thanks for sharing useful information. I am from Hong Kong. I am wondering if it’s difficult to invest a flat in Holland by foreigners? Is it possible to apply mortgage?
Nice to hear from you again! As you know I really want to buy a house but I can't figure out how to get approved for a mortgage without having a job. I wonder how hard it is to build a house here in the Netherlands, because that could allow us to buy a piece of land before the price raises further and maybe build something smaller or just the first floor of the house first to stop paying rent and to be protected from real estate inflation.
Thank you so much for watching. There must be a way to arrange the mortgage. Perhaps you’d like to speak with expat housing network to see what your options are.
@@MakingitinHolland Yes, I will think about it. Their cost is too high for my pocket, sadly, since I need something extra cheap. Once I am immunized I'll visit some makelaars and see if they have any mortgage product for people without declared income that have a good percentage for down payment. I wonder how hard it is to buy one of those new plots of land that are sold around 50 ~ 100 thousand euros in cash, then build a "storage room" in the back to live temporarily (in Brazil we call those "maid's quarters") or even letting the land appreciate and build a house later on when having enough funds. As an architect, did you ever work with individual constructions like this? Are you legally allowed to sign the paperwork with the municipality and get constructions like that going? That would be worth much more than paying money for a "buying agent", since you'd be actually supervising the construction etc.
The entire concept of paying someone to be a "buying agent" is a foreign concept to me, to be honest, it just sounds weird. You have a house, you list it, I see it, make an offer (usually below asking price, since the seller usually puts the price a bit higher to have haggle room), buy it. That's what I grew up with. It might be good for the seller, but it's terrible for the buyers, because they're always against each other.
Thanks for the insightful video, as always! 🤗
@@TheSimArchitect Hi there! You mention some very creative ideas here :) As you said, the first step (for all potential home buyers) will be to see if there’s a financing product that works for you. For this step, we always recommend you speak first with a mortgage advisor before meeting with makelaars (either directly through the banks, or through mortgage brokers such as Mister Mortgage or Expat Mortgages). They’re the experts in securing financing (whereas we makelaars are the experts in securing the actual property - from drafting competitive bids and ensuring all the steps are complete, all the way through the contract review, signing, and transfer).
Unfortunately, with the Netherlands experiencing increasing population density, the lack of free land to build, and the increasing costs of building materials and labour, it tends to be more difficult (and more expensive) for individuals to buy land and build their own home rather than buy an already built home or a “fixer-upper” home. Of course there’s exceptions so if it’s something you’re very passionate about, we recommend speaking to makelaars that specialise in buying plots of land in the areas where land is still available at that price (on Funda, I see some listings for the price you mentioned in Friesland). These makelaars will be able to give you better insight on what you can and cannot do when it comes to building a temporary home. Good luck with your home buying journey!
I can help with individual constructions and arranging building permits if it’s necessary. That can be quite a process on its own. But it’s definitely possible. 😊
Unfortunately though, it does come with its own downsides. The land here is becoming also quite pricey to purchase. But I totally hear you, because in Turkey it also makes sense to buy land and then to build your own house.
@@MakingitinHolland Nice! Good to know it's a possibility. It is very hard to find good houses under 250 thousand euros, but you can find plots of land starting at 50 or 60 thousand in cheaper regions of the country. Nicer locations possibly have lots around 100 something and it can be a good way to start with real estate if you can't take a loan, since you can buy the land and save for the house or get a permit to build just the ground floor of the house with a living (temporary bedroom), kitchen and bathroom to be upgraded later with bedrooms above it etc.
It's also very hard to find even older houses at affordable prices because of the same lack of space you mention. It's easier to take a personal loan or even use credit cards than to get a mortgage here, because lenders have a very strong aversion to risk.
Of course, if you don't enjoy architecture anymore, working from your home as a self employed architect won't solve your problem but, otherwise, it might be one of your ZZP activities and you can put a simple website together and charge individuals and businesses for that kind of service (construction inspection, projects, paperwork etc).
I'll keep saving money on my end and after I am fully immunized I'll see if I can find a credit line that does not ask for official income proof.
The housing crisis in NL is crazy. Most landlords are unwilling to sublet the apartments to international students, allegedly due to the overprotection of tenants. Some have to stay in tents for a few months before finding somewhere long-term. Some even buy a house and sell it when they leave. Awesome
Unfortunately the housing market has its challenges, even for renting you may want to schedule a call with expat housing network to see how they can help you rent a suitable place that works for your needs and budget. 😊
Hi Gulce , What do you think about buying in Almere as an cheep alternative to buying in Amsterdam? thank you for another great video 😃
Hey Eyal! Ashley from EHN here! Thought I’d chime in as your question is one that we receive quite often.
Indeed Almere is a definitely a great alternative to Amsterdam (though still competitive) as you tend to get more space for your euro and greater access to nature, while still being only 20 min from Amsterdam. Many internationals who prefer a greener, more peaceful life, or those who are settling with families often prefer Almere to Amsterdam.
Of course, both cities have their unique features, and Almere is quite different from Amsterdam, so if you’ve never lived in Almere, we always suggest really getting a sense of the area to make sure that it’s somewhere you can see yourself living for at least 3 years. (This goes with any city you are interested in buying). Because at the end of the day, it’s your home, and you want to happy wherever that is :)
That said, Almere is growing (now the 8th largest city in the country) with investments being made in new housing, rail way infrastructure, natural parks, etc. So we expect the demand to continue increasing similarly to the rest of the country.
Hope that helps!
Hey Eyal, I would agree with most of what Ashley wrote. You might be able to find slightly better deals in Almere, but the prices will be comparable to that of Amsterdam. Especially depending on what kind of house you’d like to buy. There are several other places near Amsterdam (but also have a completely different vibe and visiting is therefore a good idea) you might want to check out such as Hilversum and Amersfoort.
@@ExpatHousingNetwork Thank you 😃
@@MakingitinHolland Thank you 😃
Almere is also becoming expensive.
So far we have decided not to buy. We had various mortgage offers over the years. For instance in 2021 I was told I could borrow 550k for 1,900 a month (my wife's income was not taken into account as she was a freelancer). Earlier this year it was 650k for 3,051 a month (this time including my wife's salary). Given that we are already paying around 2,000 a month for childcare (toeslag deducted) this sounded a bit much to us. On the whole I find the whole thing very complex, costly with the various intermediaries that you need to use and lacking in transparency.
Hi. Thanks for all the information. I’m thinking about moving to Netherlands and housing is one of my biggest concernes. Everyone is speaking about difference in cost of rent vs cost of mortgage. Nobody is telling the actual numbers. Let’s say that if i pay 1200 euros just for rent with no bills such as electricity or water. How much would i pay for mortgage monthly for similiar house?
Hey, it really would depend on a few things. I’m happy to interview an expert on the topic in the future episodes. But until then, it might be a good idea to get in touch with the Expat Housing Network to learn more.
i think better option for most people is to buy via rent is more realistic i think because at the end the home is yours
Hi
Good day
Please I am looking to study Information Management over there in the Netherlands, so please what are mine chances of getting a job when am done with my studies and also my sister is looking to study Business Analysis over there also, we've been watching your topics over here in the CZcams.
Hello, thank you so much for your comment. I will make other videos covering this topic and will be organizing ways to answer more specific questions in the near future.
How much is the tax?
Can we apply for the mortgage from very beginning of our arrival to Netherlands ?
Probably not if you don’t have good own money I’m from the Netherlands and had to show my
Income from last 3 years.
Yes. You do have to show proof of stable income. Good to check that with expat housing network.
Another great video! IMO, buying is always a better long term option. Unfortunately, you need to be wealthy to buy a property in the Netherlands.
Definitely, I agree with buying being better as well.
At this point im planning on living with my parents until my 30s lol, buying a house is practically impossible because of those thieves that they call a bank.
The government are also responsible for not building a sufficient number of houses to meet demand.
Good lord those prices are painful. I'm not even sure how either of those would be affordable due to the tax rate being so high.
Indeed, the housing prices are increasing at what seems to be such a rapid pace. However, if you want to buy, you also have a great asset that’ll most likely always increase in value (unless something unpredictable happens).
@@MakingitinHolland good point!
@@somehuman1901 there are always pros and cons :)
Hi Gulce, is Eindhoven a good place to buy a property for personal stay. How are the prices compared to Amsterdam or Utrecht in Eindhoven .
As always informative video . Keep up the good work . It really helps 🙂
Hey there, Eindhoven and surroundings have some promising houses. Depending where you’re looking the prices will be very comparable to that of Amsterdam and Utrecht in my opinion. Thank you for watching!
Hi Gulce! Thank you for your effort to inform all of us :)
I have a question: Normally landlords are asking 3 times more net/gross salary than your rent. But normal job vacancies are between 2400-2700Euro gross. In this case, how am I able to rent an apartment by myself? :D I mean is it ok if your salary is not 3 times more than your rent? They still allow you to rent?
And the second question is : Do you advise renting an apartment by rental agencies that you pay and they arrange all the documents for you etc. or renting by yourself is better? Thank you!
Hey Ettie! Ashley here from EHN. Indeed most landlords (both private individuals and companies) require the 3x rule salary requirement. In the major expat hub where prices are more expensive, this does make it quite difficult to rent a standard 1 bedroom apartment on your own sadly.
There may be exceptions if you’re in a situation where you can put a significantly large deposit, or have a parent co-sign, to convince the landlords that you’ll be reliable for your payment. Unfortunately, the sad truth is that cost of housing (for both landlords and renters) are increasing faster than salary growth and the growth of new home builds. In these cases, we recommend either looking for a small studio in a less competitive neighbourhood or town, look for unfurnished “shell” apartments, or consider getting a roommate.
Sorry for not sharing more positive news… but I hope this helps to at least set expectations and provide some possible alternatives. Good luck with your search! Feel free to shoot anymore questions our way :)
p.s. If you see this comment in time, my colleague Mary (one of our Rental Experts) is hosting our monthly “Renting in Amsterdam” webinar tonight. Even if you aren’t looking in Amsterdam, much of the info applies to the rest of NL. It’s designed to help provide internationals with all the information and resources you need to rent on your own or with the support of a Housing Specialist if you so wish. She runs a really good live Q+A where you’d be able ask any questions you might have that, so I’d highly recommend jumping in on that call.
Here’s the link if you’re interested: www.eventbrite.com/e/renting-in-the-amsterdam-metropolitan-area-tickets-144614478799
Not always taken care By the landlord, the issues in the house.
//Schedule a FREE intake call with Expat Housing Network (get a 50 euro gift card to fonq.nl if you become a client in 2021):
calendly.com/making-it-in-holland-community
What are some of your other questions about renting or buying a house in the Netherlands? Let me know down in the comments.
Average price of a new built residence is now 450.000. :O
Yes, the prices are really off the charts!
How much does that translate in American dollars?
LOL the price of housing there is cheap compared to California, the cost of housing here starts off in the $600k
Yes, but you also have to factor in that in California you've got the possibility to earn more as well depending on your industry - and there's a bigger demand to live there than here possibly. If you for example wanted to buy a house in a major city like Amsterdam or Rotterdam, you're also looking at $600K for the lower end... because in those cities there's also a huge demand.
@@MakingitinHolland The possibility to earn more really doesn't matter due to the fact that increased wages get canceled out with the cost of inflation. We make more here true however things here also cost more as well. Even if you factor the same pricing for a home that is worth $600k over there you are getting more bang for your buck in terms of sizing. You can also move past the city still be in the Netherlands or Belgium which is so near and find even more affordable housing, whereas here you would have to completely move out of the state.
@@theinvestorssquad8752 I totally hear you on this. Although, good to note here things like groceries, etc. are not cheap either. Interesting you mention about the size of the homes here in NL, I guess the grass seems greener on the other side but homes here are also relatively small. In fact, because there's not enough land homes have always been very compact. If you want to have a big home you'll almost always spend way over one million euros as well. With that said, you can definitely travel to different parts of Europe but living in Belgium is also way more different than living in the Netherlands (even if they are right next to each other on the map). :)