The idea of home ownership is a dream for most of us. And when it's your first time buying a home, it's even more special. Follow the main stages of a first property purchase.

Defining your property purchase project

Do you dream of a cosy little nest in which you will spend several years or a property that you will rent out? This is a question to ask yourself beforehand, as the selection criteria and procedures differ according to the situation. In the first case, you will have to deal with the number of people living in the household as well as your respective desires for a garden or balcony, town or country and of course amenities. In the case of a rental investment, it is the target audience and its needs that will determine your property choices.

Drawing up a budget

Knowing your borrowing capacity The amount of money you can afford to spend on a home loan will depend on several criteria (personal contribution, professional income, expenses) and will help you to target your research. Once you have established this via a mortgage broker or your bank advisor, you will have an idea of the amount that can be allocated to your future project. Don't forget to add any additional costs such as possible works or future co-ownership charges (rental investment)?

Searching for (and finding) the ideal property

You can use online ads and phone calls to real estate agencies to explain your wishes. Visit more properties to get a clear idea of prices and the market and to fine-tune your requirements. Create e-mail alerts about new properties, or even develop a relationship of trust with an estate agent, so that you can be notified more quickly when a property matching your criteria is available on the market.

Making a commitment with a sales agreement

This is a real contract which commits the signatories to conclude the sale at the fixed price before it becomes a notarised deed. It should be noted that it is not compulsory, but if a buyer does not make use of it, he or she runs the risk of losing the option on a property! It mentions the nature of the property and often contains clauses suspending the sale, such as the granting of a bank loan. Non-compliance with a compromis de vente has legal effects (penalty clause).

Getting your loan offer

With the help of your broker, establish the best combination for your property loan. Fixed, variable or adjustable rate, repayment period ... it will take you about a month to obtain the loan.

Find your home loan with atHomeFinance!

Signing the deed of sale

Are the funds released? That's fine. When you sign the deed of sale, the notary will read you all the information before the seller hands over the keys to your new property. Welcome to your new home!