Buyer Guide

Take It Easy

Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

Remember a home is connected to its surroundings

Remember that the physical aspect of the house itself – room size, kitchen, etc. is not everything. Noise level, location to amenities, and other aspects also have a big impact on your quality of life and should therefore also be taken into account.

Plan ahead

Be sure you have everything ready when you find a house you like to make an offer that will bring an approval for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

Find a real estate agent who you connect with.

Since home buying is a big financial and emotional commitment, it’s critical that the REALTOR you chose is both highly skilled and a good fit with your personality.

Avoid asking for too many opinions

It’s natural to want reassurance for such a big decision, yet too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home

Accept that no house is ever perfect

If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, however the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

Adopt collaborative path instead of being a killer negotiator

Negotiation is definitely a part of the real estate process, however trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

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Choose a home first because you love it

A home’s most important role is to serve as a comfortable, safe place to live.

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Table of Contents

Buyer Roadmap

Consultation

Consultation

Working with me as part of RE/MAX network gives you an advantage with a solid foundation of knowledge and support as well as access to exclusive tools to help sell your house.
Pre-Approval

Pre-Approval

Meet with your preferred lender and find out your buying power. This will help determine your overall budget as well as allow you to make an offer when you find a home.
Find Your Next Home

Find Your Next Home

Shopping is the fun part! I have access to major home currently listed on the market. I will help you find the home you’ve been searching for and will help you every step of the way, from showings to offers and negotiations!
Make an offer

Make an offer

When you are finally falling for your future home, I’ll write an offer tailored to your needs. This offer is including the price and any contingencies, such as financing or home inspections. You will have the choice to make a deposit to secure the transaction. Generally, these funds are held in an escrow account and applied to your closing costs.
Starting Closing process

Starting Closing process

Once your offer is accepted, I will assist you through the closing process. This involves finalizing sales agreement, the mortgage, signing legal documents, and coordinate procedures with the notary. Be prepared for various closing costs, such as title insurance and taxes.
To the notary

To the notary

Once you get the closing disclosure from the lender, detailing every expense and required finds, the notary will begin the necessary research required to draw up your deed. We will be advised on the signature date and all parts will meet to conclude the deal.
Congratulations! You just bought a property!

Congratulations! You just bought a property!

On the date of the signature, you will get the keys of your new home and become officially owner of your new investment. I’ll stay in touch, in case you need anything… And, oh, by the way, I am never too busy for any of your referrals!

What is a mortgage

Here's what you need to know and how it may affect your monthly fees.

Finding out where your money goes can help you better understand the status of your mortage.

Payment breakdown

Your mortgage is based on a variety of factors, including your down payment, your profile and your loan term.

Principal

Amount of money borrowed, not including interest, to purchase the home.

Interest

Percentage charged for the use of borrowed money.

Taxes

Calculated on the basis of property's value : registration (6%) and transcription (1%).

Insurance

Homeowner's insurance, and eventually mortgage insurance, varies by loan product.

Notary

Set by Grand-Ducal regulation and +/- of the purchase price.

Check on your approximate costs

Check here

Housing Support

Aimed to people who meet certain conditions:
  • A private individual (not a company)
  • Who should occupy the property as a private residency
  • Who should be without ownership of a property in Luxembourg or any other countr

All the practical details and forms are available on fondsdulogement.lu

FondsDuLogement.Lu

What to Anticipate?

Here is a list of additional costs that must be taken into account in order to fully enjoy your very new property, together with some tax deductions to ease you financially

Connections

Water, electricity, gaz, telecommunications.

Land

Sanitation, landscaping.

Taxes

Some communes require taxes on infrastructures and/or connections.

Co-Ownership

Shared costs and eventually planned future costs.

Property

Property taxes.

FAQ

To increase your chances of securing your dream property, it's essential to demonstrate your commitment and financial readiness. Presenting an agreement in principle or a solvency certificate at the end of your property visit is a strategic move. These documents serve as tangible proof of your serious intent and financial capability, making you a more attractive and reliable buyer. Additionally, having solid supporting documents, such as recent bank statements and proof of income, further strengthens your position and minimizes the risk of losing out on the property you desire.
In today's real estate financing, you won't find traditional bridging loans. Banks usually ask for a down payment between 10% and 20% of the property's price, depending on your finances. The exact amount varies by individual and bank policy. Some banks may even consider financing individuals up to the age of 80, making homeownership more accessible to a diverse range of people.
Calling on the services of a broker ensures you access the best financing solution tailored to your needs, leveraging their market expertise. Additionally, it saves you valuable time by simplifying the application process and handling negotiations with lenders on your behalf.

Because you follow a procedure that count, you can count on me.
Together, we will find the best solution to your project.

© Catherine Sok | Autorisation 10134746/0 | IPI 515833
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Your Property Journey Begins Now

Provide your details and let me know your interest. I am here to support your buying, selling, or dual journey with precision and care.

Your Property Journey Begins Now

Provide your details and let me know your interest. I am here to support your buying, selling, or dual journey with precision and care.