Is this the time to buy a house? We look, among other things, at the development of mortgage interest rates and the housing market to answer this question.
Consumer confidence in the housing market has fallen. Due to a shortage of suitable houses and rising prices, fewer people find it a good time to buy a house.
Mortgage interest still historically low
The mortgage interest is low. Whoever buys a property now can finance it advantageously. If you opt for a mortgage with a relocation scheme, you can also take the low mortgage interest with you when you move.
The expectation is that the mortgage interest rate will remain low this year. So you have a little time to take advantage of the low mortgage interest.
Relocation as an alternative to relocation
By taking out the mortgage, homeowners with an ongoing mortgage contract can also benefit from the low mortgage interest rate. The sometimes high penalty interest is, however, a threshold for transfer. By relocating you can get a new new mortgage free of fines and is therefore an interesting alternative to retransmission.
Renting becomes more expensive
While mortgages have become cheaper in recent years, renting is becoming more expensive every year. Since 2013, rent can rise faster than inflation. Landlords may increase the rent by 4.1% to 5.6% in 2019 and are eager to use it.
By buying a house now you are assured of a constant monthly payment in the coming years. If you also repay the mortgage (in part), you also build up a piggy bank. However, with a home for sale you are less flexible.
Donate tax-free for a home
In 2019, a maximum of 100,800 euros can be donated tax-free for a home. A family bond is not necessary to make use of this gift tax exemption.
Mortgage without a permanent contract is possible more often
The possibilities for taking out a mortgage without a permanent contract have grown. Recently, lenders launched the following initiatives:
- Flex workers are eligible for a mortgage with a perspective statement from the temporary employment agency or secondment agency at selected lenders.
- Self-employed and freelancers can take out a mortgage with NHG with a number of lenders after 1 year.
Read more about the extra mortgage options for starters on the housing market.
House price continues to rise
The house price is on the rise in 2014. Although the number of sales is declining, the expectation that the house price will rise further is less fast. That makes buying a house still attractive. Buying a house now means that you have to be careful not to take too much risk. Read more about buying on a heated housing market.
Your house has also become more valuable
The house price has risen. For homeowners, this means that their home has also become more expensive. This surplus value is released by selling the property. You can invest this money in your next home or use it to reduce your monthly payment.
Tip: use the surplus value to buy an energy-efficient home or to take energy-saving measures. This lowers your energy bill and your house is future-proof.