To rent or buy a house in The Netherlands.

What are the pros and cons?couple renting buying coffee

The question whether to buy or rent can be a tough decision and depends on many different factors. How long will you be staying for example? And how much is your current rent?

If you are planning to stay for 3 or more years, it is wise to look at buying a house instead of renting it. This is because renting can be very expensive and the monthly costs can increase every year. Furthermore, you are eligible for a tax rebate when you pay interest on your mortgage. There are of course many considerations. Below you will find an overview of the pros and cons of buying a house.

An overview of the pros and cons of buying a house:

Pros:

  • Mortgage and other costs are often less expensive than renting. Also, these monthly costs can be fixed for a long period of time;
  • The interest that you pay on your mortgage and the purchasing costs of a house are tax deductible, leading to lower monthly net costs;
  • Additionally, the interest rates are currently very low and thus making it even more attractive to get a mortgage and buy property;
  • You build up equity, and once the mortgage is repaid in full, the house is yours.

Cons:

  • You are responsible for the maintenance of the house and its accompanying costs;
  • There are taxes like property taxes that you’ll have to pay. However, the total costs per month are usually significantly lower when buying a house than renting.
  • You will need insurances like buildings and contents insurance. Advisers at A&H Finance are happy to help arrange these insurances for you. For our competitive rates, go to our pricing page.

In conclusion, if you’re planning to stay for a couple of years in the Netherlands, it is wise to look at buying a house. Get in touch with us for a first introduction to discuss your possibilities.