What to consider when buying a house?

How to know what type of house you need before buying

To find the ideal home, it's essential to assess your needs so you can choose the one that best suits your lifestyle. Here are some key questions to ask yourself:

Which house should you choose to buy according to your lifestyle?

What are your plans for the future? Don’t focus only on your current situation—otherwise, you might end up choosing a home that's too small. Here are a few aspects to consider when buying:

• Do you have or want a partner?

• Do you have children?

• Do you work from home?

• Do you enjoy hosting guests?

• Do you travel frequently?

• Do you prefer the city or the peace and quiet of the suburbs?

Depending on your pace of life and goals, you'll need one type of property or another—and this will define the features it must have. Fortunately, the real estate market is wide-ranging and offers options for every taste.

Number of rooms, common spaces and actual functionality

People often focus on square meters when looking at a property, but the real value lies in the layout and room distribution. Consider how many bedrooms you need, and how many bathrooms as well.

Additionally, if you enjoy spending time at home or having people over, it’s important to evaluate the shared spaces. Think about what kind of kitchen you want, whether the living room should be spacious or have an integrated dining area, and whether you need a garage or storage space.

Are you looking for a permanent home or a temporary solution?

Another key question before buying is: How long do I plan to live here? Is this a temporary place? Or a long-term home? Your answer will determine what kind of property you should prioritize. For example, if it’s temporary, you may focus more on location and price.

On the other hand, if you're looking for a permanent residence, you’ll want to consider other factors like the type of construction, whether it has outdoor space, the energy efficiency rating, or even the sun orientation.

What to consider before buying a home? Key factors when choosing a location

The most important factor when buying a home is its location, which is why it’s crucial to ensure that the property is in the right area. The neighborhood will impact your daily life, the property's future value, and your overall satisfaction in the medium and long term. Here are some key points to keep in mind:

Proximity to schools, shops, transportation and basic services

What can you find within a 10-minute walk from your new home? Being close to essential services makes a big difference in day-to-day life. Some key services to look for nearby include:

• Supermarkets and pharmacies.

• Health centers and hospitals.

• Educational institutions (schools and/or daycare centers), if you have children.

• Public transportation.

• Green areas and leisure spaces.

How to measure the safety and quality of life of an area

Safety and peace of mind are two factors you should observe and analyze when choosing a home, as they will shape your quality of life. Ideally, you should:

• Observe the condition of the streets, police presence, and neighborhood atmosphere.

• Ask the homeowners’ association, neighbors, or local shop owners for their opinion.

• Pay attention to the surroundings and check whether any areas appear neglected or poorly maintained.

Evaluate the area day and night

Peace and noise levels should be assessed not only during the day but also at night and on weekends. A neighborhood that seems quiet during working hours may be noisy during rest hours, which could affect your comfort and quality of life.

It’s advisable to ask about these factors before buying and to personally explore the neighborhood at different times of day and on various days of the week. This way, you’ll get a more complete picture of the area.

Budget for buying a house

Another key factor when purchasing a house is your budget. Buying a home isn’t just about the selling price — there are also additional costs associated with the transaction. Let’s review the main ones:

Costs: notary, taxes, renovations and other expenses

Beyond the selling price, it’s important to factor in other costs that will raise the total amount you need to pay, such as:

• Notary and land registry fees: These are mandatory to formalize the purchase contract and register the deed.

• VAT: If you're buying a newly built home, you’ll need to pay VAT, which is usually 10%.

• Transfer tax: If you're buying a resale property, you’ll need to pay this tax, which ranges from 6% to 10% depending on the region.

• Agency and appraisal fees: If you’re applying for a mortgage, the bank will require a valuation, which adds to your costs.

• Renovations: You may need to make improvements or repairs, which will require extra investment.

• Community fees and special assessments: For apartments, make sure you know the monthly community charges and whether any special assessments are planned or underway.

Because of these extra expenses, it’s recommended to have an additional 10–15% in savings on top of the property price to cover them comfortably.

In addition, working with a real estate agent can make a big difference when buying your new home, as you’ll be informed and guided throughout the process. Let Engel & Völkers advise you and enjoy the luxury of not having to worry about a thing.

How to calculate a realistic budget for buying a house

Before choosing a house to buy, it's essential to assess your financial situation—only then can you set a realistic and sustainable budget. Here are some key points to consider:

• Available savings: Ideally, you should have 20% of the property's value, plus an extra 10% to cover additional costs.

• Debt capacity: Banks usually recommend that your monthly mortgage payment not exceed 30–35% of your net income. At Engel & Völkers, we have a financial division that can help you find the mortgage that best suits your needs.

• Job stability: Having a permanent employment contract will make it easier to secure a mortgage and purchase a home.

• Monthly and future expenses: Consider how your mortgage payments will impact your lifestyle.

New or second-hand housing? Advantages and economic differences

If you're wondering which option is better—a newly built home or a resale property—it's important to understand that each has its own advantages and financial implications. Here are the key differences:

New build homes:

• Usually offer better energy efficiency and insulation than older homes.

• Typically require no initial renovations, unless you want to make specific changes.

• Price per square meter is usually higher.

• VAT is generally higher than the property transfer tax.

To better understand the real estate market, pricing, and trends, you can download the annual report from Engel & Völkers. In it, we analyze the market based on insights from our network of agents.

Resale properties:

• Tend to offer more variety and greater room for negotiation.

• Often found in more central or desirable locations.

• May require renovations or upgrades.

• Transfer tax is generally more affordable than VAT.

• Depending on the area, price per square meter may be higher.

Having the guidance of an experienced real estate expert can help you negotiate more effectively and secure a better deal. At Engel & Völkers, we’re here to help you find your next home.

Tips before buying a home: mistakes and how to avoid them

A rushed decision driven by emotions may lead you to buy a home that doesn’t truly meet your needs. Here's how to avoid some of the most common mistakes:

• Make a list of must-have features—if a property doesn’t meet at least 80% of them, it’s best to move on.

• Don’t make a decision the same day as the visit—take some time to reflect.

• Visit the property a second time with someone you trust for a second opinion.

• Create a numerical evaluation based on location, layout, energy efficiency, price, etc.

• Rely on a real estate agent who can advise you with objective data—such as appraisal value, legal encumbrances, or monthly ownership costs.

Working with a reputable real estate agency is not just a smart move—it’s the foundation that will support your decision-making and help you find a home that truly suits your needs.

At Engel & Völkers, we help you find the home you need—and turn it into your new home. Shall we build your future together?