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Nevertheless, the difference in premiums between the cheapest and most expensive policies is huge, despite the cover being exactly the same!In addition, as time goes on, the chances are that you have top up policies which exceed your budget or cover things you don’t need anymore as well.You could go as far as dissolving the purchase agreement even after you bought and moved into the property. You can move at any time The landlord is responsible for maintenance and insurance You don’t have to worry about losing money if house prices fall You have a high level of rent protection You don’t have to pay property tax (OZB) On the other hand Rental prices are high Your rent will increase every year There is limited choice You won’t build equity with your monthly payments, and you won’t make money if property values rise Your opportunities for renovation will be limited or non-existent When you move, you may have to return the property to its original state And the benefits of buying?Your mortgage and other housing costs are often less expensive than renting Mortgage interest is tax deductible You build equity by making monthly payments, and the property will become yours once your mortgage is repaid.Within five years of owning your home, you would already have paid off approximately 10% of the loan.So if the house price were to drop by 10%, you wouldn’t have any residual debt.Buyers also run the risk of buying a house with hidden defects.
A three-room flat in Amsterdam’s Buitenveldert district will cost you around €1,900 a month in rent, but if you bought the same property, it could be as much as €700 a month cheaper – and that is taking all the bills into account as well. Above all, the rent you pay helps your landlord beef up his investments and does nothing to help you build up a nest egg. Well, today’s market is attractive for buyers because mortgage rates are relatively low so you can get a lot of house for your money.
Sometimes buying a home makes more sense, but not always. The housing market, particularly in the big Dutch cities, is rarely out of the news at the moment - soaring prices, lack of choice, changes to the mortgage rules - you might consider yourself lucky in your rental flat, dodgy plumbing and all.
After all, the greatest advantages of renting a home are flexibility and the lack of risk.
You can profit from rising house prices You can renovate the property however you want And what could go wrong?
Your monthly payments might go up at the end of each fixed interest rate period You will be responsible for all repairs and maintenance You may lose equity if property values decline You have to pay property tax (OZB) and other communal taxes You need homeowner’s insurance In the end it all boils down to what you are comfortable with.