Important

Misconceptions in relation to the purchase and sale of homes in Amsterdam.
People who have just bought or are looking to buy a house often make certain assumptions that are not completely accurate. Although these assumptions often have a grain of truth to them, they are still only partly true.
Given that buying a house often involves an investment of hundreds of thousands of euros, acting on incorrect information can result in costly mistakes.

The following are just a few examples of such mistakes:

Prices per m2
When a home is sold based on a price per square meter, this does not necessarily mean that the prices per square meter or values of other houses on the same street or in the same neighborhood are the same. For instance, the prices of two homes that are the same size can differ considerably if one of them has a garden and the other only has a balcony, or if one of them is in a bad state of repair and the other has been renovated. The price per square meter merely serves as a guideline in determining the value.

Foundation code
Having no available measurement data relating to the foundation, does not necessarily mean that it is of poor quality. Conversely, if a building has been assigned a foundation code of II, this does not automatically mean that the foundation will never need to be replaced or that it has already been repaired. Often, the quality of a foundation is assessed by way of a visual inspection, which frequently provides a reliable overall indication, but does not say anything about the quality of the wood.

Division
The fact that a home has recently been divided into smaller units does not necessarily mean that the structural aspects of the unit sold are high quality. Although certain quality requirements apply when homes are divided into small units, the prescribed standard is not always met. However, there are also many developers who build according to much higher standards than required, which also affects the value.

Ground leases
Ground lease provisions are not always to the lessor’s disadvantage. While it is true that it is better to own the land yourself rather than to lease it in whole or in part from someone else, there are various situations imaginable whereby the yearly ground rent for the coming years will remain reasonably stable. The majority of the homes in Amsterdam are built on ground lease land, and only rarely is this economically a disadvantage for the lessor.

Asking price
Some people think they have gotten a good deal when they have paid 10% less or “only EUR 10,000" more than the asking price.
However, the asking price is a variable; it is determined by the seller and estate agent for the purpose of inviting offers. Often the asking price is realistic, but it can also be too high or low. Buyers are well advised to base their choices on the market value, not the asking price.

When buying a home, you should weigh up all aspects carefully and seek expert advice before making such a major purchase to avoid basing your decisions on misinformation.