Before you go to look at houses, it is important to first determine your choice criteria (number of bedrooms, location …), but you start with the most important thing: determining your budget. And you do that as objectively as possible:
- based on your regular income and your debts. Banks assume that you do not exceed 30% of your monthly income spend on paying off a mortgage loan. This percentage does not take into account other income such as holiday allowance, child benefit, end-of-year bonus, luncheon vouchers and the like, nor how they could evolve in the future; and of course, also taking into account your own contribution. If you have some money aside, now is the time to speak to it, without completely exhausting these reserves.
- By the way, if you actually dream of giving yourself a new car shortly, or asking your sugar aunt, or considering family expansion, it is now the time to come out … whether you like it or not; by recording the term you set for your mortgage.
- It is obvious that repaying a home on 10 or 30 years has a big impact on the amount you have to pay monthly; by calling in the help of your banker or credit broker , after you have formed an idea of your ‘ real estate purchasing power ‘ thanks to the various tools that you can find online, and then we think first of all about the calculation module of Immoweb: ‘What is my budget? ?.
The sales price is not the total price of your purchase!
Once you have established your budgetary possibilities, it is time to check what is offered for such an amount, of course on Immoweb. Thanks to ‘My Immoweb’ you get the properties that meet your requirements in one click.
But do not be mistaken: the agreed sales price is not the same as the real purchase price, the total amount that you will have to deposit, once all costs, taxes and other taxes are included.
On the one hand, a sales price is always an asking price that can be negotiated. It is therefore important to agree a better price with the seller.
But on the other hand, you have to take into account all financial parameters that count heavily in the final cost. and that are all immediate costs and those in the short term: estimation costs, registration fees, notary and deed costs, property tax, insurance, moving expenses