You’ve bought a house, what’s next?

The last step before receiving the keys to your new home is to visit the notary and sign the transfer deed and mortgage deed. The transfer deed sets out the agreements you’ve made about things like the property, the purchase price and moveable items. The notary will read the deed to you and then it’s time to sign. From that moment, the property is all yours, congratulations!

As soon as you become the owner of the property, you are responsible for insuring it.

• Home contents insurance covers the possessions in your home, i.e. movable items like a laptop, sofa and jewellery.
• Home insurance is for the property itself and for immovable items, like a built-in kitchen, glued-down flooring and roof tiles. If you’ve bought an apartment, the owners’ association (Vereniging van Eigenaren, VvE) often takes care of home insurance.
• Term life insurance is no longer compulsory when taking out a mortgage, but it can be a good idea in some cases. In the unfortunate event of your death, term life insurance will pay an amount to your surviving relatives that they can use to repay your mortgage debt, for instance.
• Liability insurance is also not compulsory, but it is important. It covers you and your family against damage to third parties and their property.
• Legal expenses insurance can also be a good idea for home-owners. It covers legal assistance and advice in the event of disputes with your neighbours, for instance, or if there’s a problem with the purchase or remodel of your home.

Have you taken advantage of the client discount on your mortgages? You are eligible for this discount on your fixed-rate mortgage interest if you have a current account with ABN AMRO that your income is paid into.

You must ensure that your income is paid into this account, otherwise you won’t be eligible for the discount. The income can be from employment, but also from your own business or a pension.

If you want to take sustainability measures or remodel your home as soon as you get the keys, you can pay for this work using a building fund account. If you want to take sustainability measures, you might be eligible for the sustainability discount. It’s also a good idea to check whether you can apply for a grant. You’ll often need to do this before you have the work done.

The last step when buying a home is to file your tax return. Various costs incurred during the purchase process can be deducted from your income tax. For example:

• Mortgage advice fees
• Notary fees for the mortgage deed
• Dutch National Mortgage Guarantee fees
• Valuation fees

Your mortgage interest is also tax-deductible in certain cases. If so, you can deduct the interest you pay on your mortgage from your taxable income in Box 1. To find out exactly how your tax return works, get in touch with a tax adviser or accountant.