Buying your first home: the complete step-by-step plan

Buying your first home is exciting. You're making a major financial decision, often in a market where you need to act quickly. Knowing the steps in advance helps you make calmer, better choices. In this article we walk through the whole process, from your first orientation to the moment you get the keys.

Step 1: Map out your budget

Everything starts with the question of what you can and want to borrow. Your maximum mortgage depends on your income, any debts, the interest rate and the home's energy label. Also factor in your own money for the buyer's costs, such as the notary, a valuation and possibly transfer tax. A conversation with an independent adviser brings clarity. Through our mortgage advice you get a realistic picture of your options, so you don't end up searching for homes that are just out of reach.

Step 2: Determine your housing wishes

Distinguish between wants and needs. A second bedroom or outdoor space may be essential, while an open kitchen is often just a wish. Also think five years ahead: will you keep living alone, or do you expect to grow your family? Consider accessibility to work, family and amenities. The more sharply you define this, the faster you can decide when the right home comes along.

Step 3: Get a feel for the market

Browse the current property listings and follow for a few weeks which homes in your search area are sold and for what price. That way you develop a feel for the market. Want to be the first to know when something suitable becomes available? Set up a free search profile.

Step 4: View with a critical eye

During a viewing it's tempting to focus mainly on the atmosphere. Also pay attention to the condition of the roof, the window frames, the boiler and any damp patches. For an apartment, ask about the owners' association, the monthly contribution and the long-term maintenance plan. Our article on preparing for a viewing includes an extensive checklist.

Step 5: A well-founded offer

An offer consists of more than just an amount. The completion date, dissolving conditions and movable items all play a role. A buying agent assesses the market value, knows the selling party and knows which elements are negotiable. That prevents you from overpaying or missing an opportunity. Also read our tips on bidding smartly on a home.

Step 6: Purchase agreement and financing

Once your offer is accepted, the purchase agreement is drawn up. After that you have three days' cooling-off period. In the weeks that follow you arrange the final financing, the valuation and possibly a structural survey. Pay close attention to the date of the financing contingency: everything must be settled before that date.

Step 7: Off to the notary

On the day of transfer you first do a final inspection of the home. Then, at the notary's office, you sign the deed of transfer and the mortgage deed. From that moment you are officially the owner. Read more about this moment in what happens at the notary's office.

Common mistakes made by first-time buyers

First-time buyers often look only at the asking price and forget the additional costs. Others bid emotionally and well above their plan, or skip the structural survey to be faster. The financing contingency is also often set too short. Take the time to discuss these points in advance.

Need help with your first purchase?

You don't have to buy your first home alone. Our buying agents in Amsterdam, Utrecht, Rotterdam and Arnhem guide you from the first viewing to the keys. Get in touch for a no-obligation introduction.

How long does the whole process take?

From your first orientation to the key handover often takes a few months. The search can go quickly, but can also take a long time, depending on your wishes and the market. After the purchase is agreed, it usually takes another six to twelve weeks until the transfer at the notary's office. During that period you arrange the financing, the valuation and the insurance. Bear your current rental contract and its notice period in mind, so you don't end up paying double housing costs unnecessarily.

What you can arrange in advance

Gather your payslips, employer's statement, annual income statements and an overview of your savings in advance. The sooner these documents are ready, the faster you can act once you find a home. Also check whether you qualify for first-time buyer schemes, such as an exemption from transfer tax. The conditions for these are regularly adjusted, so get informed about the current rules.