How does the home purchasing process work?

If you are planning to purchase a home, you are not going to make an impulsive decision. It is an important decision that has an impact on the rest of your life. That is why there is a so-called purchasing process and you do not just buy a house in an hour.

Are you still renting and will you soon buy your first home? Or do you still live with your parents and are you going to buy immediately instead of renting? Then it is advisable to read this article, because then you will already be somewhat aware of the overall purchasing process.

Phase 1: orientation

The first phase is the so-called orientation phase. In this phase you will not make any major decisions yet, but you will really orientate yourself. In the orientation phase you first map out your wishes. What requirements do you think the home must meet? For example, do you think it is important that sustainable measures have been taken?

In the orientation phase you are not only concerned with the inside of the house, but also with the overall location. If you have young children, you want a primary school nearby. Do you have teenagers at home? Then it's nice if they don't have to cycle too far to their secondary school. And what about your hobbies? Do you love to play tennis or football? Then of course there must be an association in the area.

Phase 2: seek advice

You know what your wishes are and then you need the help of experts. After all, almost everyone has a specific dream home in mind, but that does not mean that it is also affordable.

In phase 2 you engage a mortgage advisor. You discuss with the advisor what your finances look like, among other things. You then discuss what mortgage amount is possible with any joint monthly income. A mortgage advisor will work for you and find a mortgage that suits you completely.

But you also need advice from other experts in phase 2. Many people who have a home in mind hire a real estate agent. A good purchasing agent knows everything about houses and can support you in the purchasing process. For example, the real estate agent goes along to viewings and examines everything critically. The broker can then also bid and negotiate on your behalf.

Phase 3: handling the administrative matters

Have you made an offer on a home and has it been accepted? Then you can't just move into the house. First you have to handle all kinds of administrative matters. You must, among other things, sign a purchase contract, officially take out a mortgage and also make an appointment with the notary.