Buying a house in Rotterdam and securing a mortgage
Rotterdam, the vibrant and dynamic Dutch city, offers a myriad of opportunities for individuals seeking to establish roots in this bustling metropolis. Before you start with the exciting journey of purchasing a house in Rotterdam, there are several crucial aspects to consider. This comprehensive guide will walk you through the process, from finding your dream home to securing a mortgage tailored to your needs.
Exploring housing options in Rotterdam
Rotterdam’s diverse real estate market caters to a wide range of preferences and needs, from modern apartments to charming family houses. Before diving into the housing market, it’s essential to understand your options and decide whether buying a property aligns with your long-term goals.
Renting vs. Buying
The first decision to make is whether to rent or buy your new home. Renting provides flexibility, allowing you to adapt easily to changing circumstances. However, buying a house in Rotterdam can be financially advantageous in the long run, providing an opportunity for long-term equity building.
Upcoming neighbourhoods
Rotterdam is a city in constant transformation, with exciting developments in various neighbourhoods. Here are some areas to keep an eye on:
- Rijnhaven
Located on the south bank of the river, Rijnhaven is undergoing a remarkable transformation, with green spaces and new housing developments. This area offers unique living experiences, including apartments in floating parks.
- Codrico factory site
Adjacent to Rijnhaven, Katendrecht has already witnessed significant changes. The former Codrico factory site is being reimagined as a vibrant hub with offices, shops, cultural venues, and approximately 1,500 new homes.
- Little C
Little C, inspired by the spirit of New York City, offers 330 loft homes and business spaces. Nestled close to Erasmus MC, this complex features rooftop gardens, green waterfront views, and a sense of community.
- Tree House
Scheduled to open in 2025, Rotterdam’s Tree House offers a unique living experience, inspired by the ecosystem of a tree. Conveniently located near the central station, it presents an ideal solution for commuters.
- The New North
The Het Nieuwe Noorden project aims to create over 5,000 affordable apartments and green spaces, transforming the area into a desirable living destination.
Affordable options
While Rotterdam’s real estate market is thriving, several neighbourhoods offer affordable living options without compromising on quality:
- Feijenoord
Located north of the Feyenoord football stadium, Feijenoord is a rapidly gentrifying neighbourhood with proximity to the city centre and neighbouring areas like Katendrecht.
- Charlois
Charlois, once overlooked, is experiencing a renaissance. This neighbourhood provides spacious living options, including houses with gardens, making it ideal for families.
- Rotterdam West
Rotterdam West offers a multicultural atmosphere, vibrant streets, and green spaces. It’s an excellent choice for those seeking affordability without sacrificing city-center access.
- North Rotterdam
North Rotterdam is a haven for creative individuals. The Hofbogen, a former railway viaduct transformed into a cultural hub, is a testament to the neighbourhood’s unique character.
Finding your dream home
Once you’ve determined your housing preferences and explored the neighbourhoods, the next step is to find your dream home. Important things to keep in mind are:
- Online listings
Utilise popular websites like Funda and Pararius to browse extensive property listings. Sign up for email alerts to stay updated on new listings that match your criteria.
- Estate agents
Consider working with reputable estate agents (makelaars) to streamline your property search. Agents provide valuable guidance, ensuring a smooth process while minimising the risk of rental scams.
- Scheduled viewings
Act swiftly when you find a property that captures your interest. Contact the agent immediately to arrange a viewing. The Rotterdam housing market moves quickly, so prompt action is crucial.
The homebuying process
After identifying your ideal property, you’ll navigate the paperwork and financial aspects of the purchase.
Documentation
Prepare essential documents to facilitate the buying process:
- EU ID Card or Passport
- Employment Contract (Proof of Income)
- Residence Permit (if applicable)
Costs
Budget for various expenses associated with buying a house in Rotterdam, including:
- Real Estate Agent’s Fee (typically one month’s rent)
- Deposit (equivalent to one month’s rent)
- Maintenance Costs
Understanding contracts
Rental contracts in Rotterdam are typically in Dutch. However, some agents may offer English versions to ensure clarity for expatriates.
Securing a mortgage in Rotterdam
At Viisi, we understand that buying a home in Rotterdam is a significant step in your life’s journey, and securing the right mortgage is paramount to realising your dreams. As your trusted mortgage advisors in Rotterdam, we’re here to provide you with expert guidance and a tailored approach to ensure a smooth and successful mortgage experience.
- Comprehensive financial assessment
Our journey together begins with a comprehensive financial assessment. We’ll work closely with you to understand your unique financial situation, your housing requirements, and your long-term goals. This crucial step allows us to provide mortgage solutions that align perfectly with your needs.
- Personalised mortgage options
Rotterdam’s real estate market offers a diverse range of properties, each with its unique characteristics. With Viisi, you can explore a variety of mortgage options, from fixed-rate mortgages to variable-rate mortgages, all carefully selected to match your financial situation and preferences.
- Budget clarity
Viisi ensures that you have a clear understanding of your budget. We’ll help you determine how much you can comfortably allocate to monthly mortgage payments, ensuring that your housing expenses remain within your financial comfort zone.
- Credit check and pre-approval
Our expertise extends to helping you navigate credit checks and pre-approval processes. We’ll guide you on maintaining a strong credit score, which can enhance your chances of securing a favourable mortgage rate. Pre-approval can make your offer more appealing to sellers, putting you in a strong position during negotiations.
- Local insights
As a team with deep roots in Rotterdam, we bring local insights and expertise to the table. We understand the nuances of Rotterdam’s real estate market, helping you make informed decisions about the neighbourhoods and properties that best suit your lifestyle.
- Legal support
Navigating the legal aspects of the mortgage process can be complex. Viisi offers access to legal assistance, ensuring that all terms and conditions align with your expectations. Legal professionals can guide you through the closing process, providing peace of mind.
- Transparent communication
Throughout your mortgage journey, Viisi prioritises transparent communication. We keep you informed at every step, explaining the intricacies of the mortgage offer and answering any questions you may have.
- Timely mortgage completion
We understand that time is of the essence, especially in Rotterdam’s dynamic real estate market. Our experienced team, known for swift mortgage acceptance, ensures your application is processed efficiently, often 40% faster than the national average.
- Continuous support
Viisi’s commitment doesn’t end with securing your mortgage. We’re here for you in the long run, ready to assist with any future adjustments to your mortgage, renovations, or new home purchases.
Additional considerations
Before finalising your property purchase, keep these factors in mind:
- Property taxes
Understand property taxes, including the notional rental value for owners-occupiers (eigenwoningforfait), which you’ll need to pay as a property owner in the Netherlands. These taxes are included in your tax return.
- Water levels
Rotterdam faces challenges related to declining groundwater levels, which can affect property foundations. Stay informed about initiatives and solutions implemented by the city to address this issue.
- Neighbourhood trends
Stay updated on upcoming neighbourhoods, new developments, and trends in the Rotterdam housing market. Rotterdam’s dynamic real estate landscape offers opportunities for both homeowners and investors.
The advantages of Viisi as mortgage advisor in Rotterdam
✓ Academically trained mortgage advisor during your mortgage process
✓ Including life insurance
✓ Including housing costs insurance: cover in the event of incapacity for work and unemployment
✓ Fixed rate for advice & mediation
✓ Including legal helpline
✓ Including non-life insurance
✓ Pay with iDeal
Now you must be ready to buy that house in Rotterdam!
Purchasing a house in Rotterdam can be a rewarding and fulfilling experience, offering you the chance to become part of this vibrant and ever-evolving city. By exploring housing options, finding your dream home, and securing the right mortgage, you can navigate the Rotterdam real estate market with confidence. Whether you’re an expatriate or a local resident, Rotterdam’s diverse neighbourhoods and housing choices provide something for everyone.
