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Robbie D in da house

Every great journey begins with a single step, right?

Well, yesterday I stepped into the office of a real estate agent, asking her to help me in buying an apartment and getting the best deal for it.

The apartment in question? See pics here: http://ow.ly/1Qu4F

So, I feel like I just got on the rollercoaster and it's slowly going up to the point where you drop down and the wild ride starts. Tomorrow, I'm talking to a financial advisor about mortgages (don't worry Yanks, we don't have sub-primes here ;) and next Tuesday I'm going to visit the apartment together with my real estate agent and maybe my parents if they feel like driving up here. Depending on the agent's assessment, we'll work out a bidding strategy, get a building inspector to crawl down to the foundations, up to the roof and check everything in between. If THAT doesn't bring up anything serious, it's just me getting approved for the mortgage and before you know I'll be at the notary to sign the various contracts.

Wish me luck. Still many hurdles to take and no solid outcome yet, but at the least this is gonna be a learning experience. Worst-case scenario: no apartment but more experienced in the whole process of bidding and buying. Best-case-scenario: moving in to new apartment Sept 1st. But let's not count chickens before they're hatched..... Or as we dutchies say: don't sell the hide before you've shot the bear. Which is kinda strange since we don't have bears in The Netherlands, but you catch my drift.


May. 27th, 2010 09:14 am (UTC)
> (don't worry Yanks, we don't have sub-primes here ;)

We do, actually. They're called 'top investment mortgages'. Avoid 'em like the plague. In fact, make absolutely certain you're getting NHG.

Personally, I suggest an extremely boring savings mortgage, but if the advisor has a good argument for another form, make him show you the math. In the very least, make him explain gross cost over time, net cost over time, and whether you're saving or paying off.
May. 27th, 2010 09:24 am (UTC)
Thanks for the warnings. You can be sure as hell I'm getting a NHG mortgage, don't worry about that. Might opt for 'banksparen' since I don't really need the extra life-insurance you have to get when getting a regular savings mortgage. Furthermore I'll probably go for 50% 'aflossingsvrij', etc.

4.5% seems to be the current bottom rate. Very doable. Just have to watch out for the small print with regards to fines, clauses, conditions, etc.


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