If you consider moving from one room to another stressful, imagine moving to a new house, and especially if it is in another country. Sometimes, we do it for a change of scenery, while others move to chase an opportunity.
Moving into a new house is never easy, regardless of what kind of moving is going to take place It is good if you start to choose your room in Brussels, but if you have any dream of living in the city, to own a property in the exact same city. However, the Brussels real estate market is a difficult market to get into. Even those who have lived in the city for a long time would say so.
To help you orientate yourself to the market, we will provide you with some valuable information about real estate in Brussels.
PROPERTY TAXES
It is true that owning a property in Belgium is one of the better ones in the market. However, it does not take away the fact that it can still be expensive. This is mainly because of taxation.
If you come up with a budget for a property in the country, it is better if you include the fees that you incur which mostly depends on what kind of property you plan on owning. If it is already existing property, include additional fees ranging from 13.7% to 16.7%; 22.5% if it is a newly built home.
In addition, if the property will be acting as an investment, ensure to add another 16.5% if your planning to sell it within five years.
BE 100% COMFORTABLE
It is vital that you are perfectly comfortable with the property that you are buying, and the ensuing costs that come along with it. This is important to remember because unlike in the UK, you cannot pull out from a deal once the seller agrees to an offer you proposed.
The only time a deal becomes null and void is when the seller breaks any of the pre-agreed rules if there are any. Otherwise, you are instantly bound once an agreement has been made.
OBJECTIVE THINKING
It is vital that you are objective when picking a property to buy. Research is necessary. Do not forget to include knowing the neighborhood that the property is in. In addition, avoid tunnel vision and shortlist a number of properties so that you can compare and contrast them from one another.
Do not let emotions cloud your judgment. Pick only when you are happy and comfortable with a decision that you have thought over with.
PRIVATELY SURVEY A HOUSE
Perform your own checks to ensure that you are not being swindled of the amount you are paying. Not that Brussels is full of them, but anywhere you go, there are always opportunistic individuals who are just out for the money.
Hire someone. It may cost you a little bit more, but for a lifetime investment such as a house, it will all be worth it.
NOTARY
To be on the safe side legally, appoint a notary early on. If the seller has one, you should have yours too for that added legal protection.
To rent in Brussels is nothing compared to buying a property. It is a long-term commitment. It costs you money, and in a country that you may not know of that much, having this bit of knowledge gives you an edge over the sellers so that you can get the most out of your buck.
