When you started your real estate research, you will have noticed that the real estate market in Luxembourg is moving fast. The high demand requires reactivity and proactivity or risk having the property of your dreams slip through your fingers.

Fortunately, there are a few tips to optimise your search and speed up your purchase. Thanks to this valuable advice you will have every chance of successfully purchasing the property of your dreams.

1. Optimising your property search time

Finding a flat or a house is an activity that can quickly become time-consuming... Who has never lost his way in the many pages of properties available for sale?

So to make the most of your time, focus your research where you have the best chance of finding a maximum number of properties that match your criteria of choice that you have already established beforehand.

If you don't want to miss a single opportunity, you have two options:

• Activate an alert system A way to let you know when a new property that meets your criteria is published on our real estate portal. A solution that you will find on atHome.lu
• Download the application You will be able to activate the notifications directly on your smartphone and continue your real estate research at any time and wherever you are.

To maximise your chances, you can combine these two solutions. You will make sure that you don't miss out on anything and that you are among the first to contact the estate agent to arrange a viewing.

2. Prepare a checklist for your visits

As we told you, the property market is moving fast. Our advice is to make sure you don't miss anything: prepare your visit. Prepare your visit by applying the funnel technique : go from the most general (direct environment of the dwelling, equipment of the property, external environment...) to the most accurate  (Energy consumption, pipes, traces of humidity, taps, etc.).

Points that should be on your checklist:

• Take an interest in the direct environment of the dwelling If you like the property on the screen, it is of course essential to visit the property to get a real idea of the flat or house you are looking for. This will give you an idea of the area and whether your lifestyle fits in with that of the area.
• Pay attention to the equipment of the property: kitchen equipment (fridge, dishwasher, oven, hob, cupboards... is it included in the sale?), heating, floor or wall coverings, storage and many others. Make sure the quality of the latter is good and if not, make a note of any work that needs to be done in order to prepare your renovation budget.
• Ask questions: During the visit, there is what you see and what is not immediately obvious. So it's best to include a few questions to make sure you don't miss anything. This could be about the windows and doors: is the heat and sound insulation of good quality? But also about the Internet connection, the sockets: are there enough of them? The property's charges (electricity, gas, condominium fees): what can we expect? How is the property exposed?

Thanks to this checklist you will be ready to carry out an optimal and objective visit of your property.

For a visit takes place in the best conditionsIt is advisable to equip yourself with a few small tools that may prove to be very useful :

• One metre which will allow you to take some measurements and get a better idea of the space available. This is even more necessary if you are visiting an empty property, as proportions and space are often difficult to assess.
• A pen and paper which you can use to record your measurements and remarks. You will be sure not to forget anything before making a possible offer.

Take photos! This is essential to remain objective and to review any details you may have missed during the visit. Remember to ask permission before taking photos

3. Anticipate its financing

Just like a real estate visit, preparing for financing for your project. By going to the banks or a mortgage brokerage company beforehand, you will be more serene when you finalise your real estate project.

Optimising your loan with a broker :

The best way to anticipate and optimise your financing is to consult a broker. In fact, a mortgage broker has access to the banking conditions of each of the banks with which it is partnered. He will then be able to direct you towards the best possible financing, adapted to your needs and your project. You multiply your chances of seeing your project come to fruition.

The advantages of the broker :

• Saving time You will no longer have to investigate, consult each bank to find out about rates that change from one week to the next, their conditions... By entrusting this work to a professional you will save energy.
• The board: he will guide you towards the different possible financing arrangements, the most suitable for your profile.
• Flexibility The broker offers you more flexibility in terms of time and availability, a significant comfort for future buyers who leave the office late. Make an appointment at a distance or in an agency according to your needs and availability, from Monday to Saturday.

Stand out with a Finance Check :

Knowing how far you can go: your broker defines with your borrowing capacity based on various data: your profile, your income, the type of property you were looking for...

A real asset in your property search: as you know, estate agents and owners are in great demand: with your estimate you reassure them of your abilities and you also prove your seriousness.

How to get this real estate sesame?

To obtain your Finance Check, nothing could be simpler: simply meet with an atHomeFinance broker, who will evaluate your capacities with you. An appointment is free and without obligation.

4. Deducting interest to optimise your tax return

Investing in property pays off, even if it's your first purchase! Indeed, the interest on a property loan can be deducted from your Luxembourg tax return. The deductible amount may vary depending on the situation, whether the property is already occupied by the owner or not.

Conditions for interest deduction :

• If the property is not yet occupied: the property interest may be fully deductible from the tax return until the taxpayer moves into the property.
• If the property is occupied: the deduction of property interest is capped as soon as the property is occupied by the taxpayer. They are determined according to the date of occupation of the building.

For more information, see our comprehensive guide to taxation.

How do you deduct interest?

To declare your home loan on your Luxembourg tax return, form 100, go to the "Tax situation" form on taxx.lu. Then simply tick the appropriate box in the "Real estate in 2020" category.

After that, fill in the "Real Estate" form which will allow you to deduct the real estate interest. All the necessary information can be found on your bank's annual certificate.

Simply enter the date you moved in on taxx.lu if you occupy your property during the year. The system will then automatically calculate the amount deductible from the Luxembourg tax return, according to the pro rata rule.

You are now ready to make your next purchase! Congratulations on your purchase! Still have some questions? Check out our top ideas!