What is useful to know before buying your first home

Are you looking to buy your first home? Then many questions will come your way. The most important question is: What is the maximum amount I can borrow for my first home? We will help you answer this question (and many more)!

Buying your first home is an exciting and intensive process. But don't panic. Freek will help you every step of the way. During a first, free introductory meeting, we will discuss your options and determine what else needs to be done. Via our website, you can easily schedule an appointment at a Freekoffice near you. Of course, you can also ask your questions online by contacting us directly.

To find out more about the home buying process, read read more here more.

Calculating your maximum mortgage

Have you made the decision to buy your first home? If so, it is important to know what your maximum borrowing capacity is before entering the housing market. By preparing your mortgage together with your Freek advisor, you will avoid any surprises.

Want to get an indication of what you can borrow? Then use our online calculation tool tool. Here it is good to remember that a mortgage is tailor-made. So sometimes more is possible than you think. For instance, it is often wrongly thought that as a self-employedor with a temporary contractcannot get a mortgage. It is also possible to get a Starter Loan in many towns and cities.

If you know what your maximum mortgage can be, check the offer of house for sale or new build on the website. Also, of course, you may not yet know whether you want to live in a new-build home, be sure to read this blog!

The right type of mortgage for you

If you take out a mortgage, it is up to you in which form you do so. This is because there are different mortgage forms. Think of an annuity mortgage, linear mortgage, or an interest-only mortgage. The difference between these mortgage types is mainly in the way you repay. With a linear mortgage, for instance, you have higher monthly costs at the start - which means you pay off more - while with an annuity mortgage you always pay the same monthly amount and spread the costs. So your monthly costs differ depending on the mortgage type.

Handy to know:

Monthly charges for your first home

When you are going to buy your first home, you naturally want to know what you will spend per month on mortgage costs. It is important to mention that your monthly costs are more than just the interest and repayment of your mortgage. Besides mortgage costs, you also have to take insurance, local taxes and gas, water and electricity costs into account. The total amount of monthly costs cannot be expressed in percentages in advance, because it varies per house, use and the municipality where you want to live.

Energy label

The energy label of the house you buy will partly determine the amount of your maximum mortgage. Are you buying an energy-efficient house? Then you can get a higher mortgage than for a house with a lower energy label. This is because owners of energy-efficient homes have lower energy bills, leaving more for the mortgage. On homes with a lower energy label (E, F and G), the energy label does not affect borrowing capacity. However, you can get a higher mortgage if you buy a house that you are going to make more sustainable. For houses with label E, F and G, this rises in to 20,000 euros. If you buy a house with energy labels C and D, you can be reimbursed up to 15,000 euros. For labels B to A+++, you get reimbursed up to 10,000 euros and for A++++ nothing at all.

Want to know even more about the area of applying for subsidies to improve the insulation of your home? Then read this blog.

Starter loan

When buying your first home, you may be entitled to an extra loan for first-time buyers: the SVn Starterslening . This is an additional loan to the regular mortgage for your first home. The amount (on average around 30,000 euros) depends on your specific situation. And the conditions differ per municipality. Curious as to whether you are eligible for the Starters Loan? Make an appointment with one of Freek's mortgage advisers. Source: Freekhypotheek.nl