Buying A House In The Netherlands (In A Nerdy Way)

So you’re in the process of buying a house in Marbella – you’ve got a clear idea of your budget and arranged a reliable lawyer. It’s a slightly quicker process than in the UK where property purchases take around six to eight weeks. By calculating your net worth, you will know if you can afford the principal, interest, tax and insurance(PITI) and private mortgage insurance payments on the home you want to buy.

For example if your property costs 100 000 euro, you will have to pay to the notary 425 euro. Talk to your real estate agent about home values in your area and their┬ápotential. If you’re paying extra for any fittings, remember sellers often price up goods on what they paid originally, which can have little relation to current values.

Prices you see on realtor websites here in Chiang Mai are often houses that have been fully equipped by their previous owners, with air cons, kitchen appliances, etc. Furthermore renters pay much less for rental insurance and have the ability to move to a new location any time.

Then, make sure that the sale prices of the houses you look at will fit with a monthly mortgage you can afford. For the 12-month period ending in January 2019, average closing times for purchase and refinance loans combined were about 43 days, according to Ellie Mae, a mortgage industry technology provider.

Then, I can use that model to evaluate what the rent price of a house being sold should be. If the ratio of asking price over predicted rent is low, then it means I can rent the house and the payback period would be short. Up to $10,000 in property taxes and interest on up to $750,000 of mortgage debt can be itemized for tax deductions.