Introduction -
Holland has been identified as a country that is likely to enjoy property growth
in the next ten years although it has been in the past view as a " tough nut to
crack" However, this has not stopped many people considering the purchase of a
holiday home or second home in the country. This is one of the reasons that
property prices in the Netherlands have risen sharply in recent years but as the
costs of acquiring property are expensive, investors should be aware, that
buying property in Holland is perhaps best viewed as a long term investment
proposition. Certainly, the market is more stable than in many other European
countries, it is established and can be quite slow moving. Unlike many other
countries, the Netherlands does not have many areas that are designated
regeneration zones and thus "hot spot " areas are harder to find.
Holiday Home
Insurance Netherlands - Insurance for holiday, second or investment homes
is now readily available from the United Kingdom and the perils covered should
not be dissimilar to those on offer from a standard home insurance policy. The
Netherlands has been struggling against flooding since people first settled in
the region and obtaining a policy covering buildings &contents against a wide
range of perils is essential. If you are intending to rent out your property,
you will need to make sure that your insurance company knows of your intention
and your policy has been suitably endorsed to include the correct form of
liability insurance cover. AssetSure are
able to help offer insurance for an Netherlands holiday home.
The Holiday Home Market in Netherlands - investors are now considering
purchasing property for long term rental because there is a shortage of rental
properties in the Netherlands. The situation is more acute in the main cities
and in recent years there has been a sustained program of new development,
however these new developments are barely helping to scratch the surface of the
problem as in many cases they are simply replacing older properties that are
being demolished. Landlords can expect to receive strong rental yields
from good quality property. Briefly, in Holland, renting is divided up between
social or rent controlled schemes, these are run by the government through
housing corporations and the usual private market.
Holiday Home Letting in the Netherlands - Under the rent controlled scheme,
the government uses a points scheme based on a number of factors including the
size and condition of the building and the facilities it offers and these are
used to calculate the maximum rent you can charge. These schemes are popular as
rents are often cheaper than can be obtained privately but of course their are
long waiting lists. Most new overseas investors purchase property for rental in
the private market. If you intend to use you holiday home for rental
purposes, you will need to take legal advise to ensure that the property meets
all current legislation regarding short term property rental. This type of
information can usually be obtained at the same time you are researching your
purchase to ascertain the viability of a rental prospect. If you do intend
to rent your property, then the formalities are fairly similar to other
countries. A contract is supplied but in the Netherlands the rental period is
usually indefinite. All the usual terms and conditions are contained within the
contract, details responsibilities, dates of rental reviews etc. Both the
landlord and the tenant are required to sign the contract, and after the deposit
has been paid the keys are handed over to the tenant. Before they move in they
will also be required to sign an inventory of the contents and condition of the
property. This is essential and can help to overcome arguments over the
condition of items when the tenant decides to leave, On quitting the premises,
you can then check the condition and contents against the original inventory and
make any decisions on whether to withhold money from the deposit. As a landlord,
you will be required to refund the deposit, minus any deductions for missing
contents, necessary repairs ( you can include unpaid bills) within three months
of your tenant leaving.
How to Buy a Holiday Home in Holland - As mentioned above, the actual
process of buying a property in the Netherlands is not cheap when compared to
other countries, you could find your costs to be in the region of 30% higher.
Any offer made to a vendor is legally binding and is usually made via an estate
agent or developer in the case of new build properties. In Holland you do have a
"get out" from this verbal offer but only if you are unable to raise the funds
for the purchase. Restrictions are placed on this time scale and it can be as
low as 7 days. In Holland it is also the law to hire a civil law notary to
perform the registration process of property and whilst you can expect a
professional service, this will of course add to the costs. The notary will
perform many functions for you such as conducting a title search at the Land
Registry, he will verify the authority of the seller to transfer the property
and conduct research regarding the proposed representation of the two parties.
Finally when these tasks have been carried out to his satisfaction, he will
draft the deed of the transfer,, and carry out the final check for attachments
before executing the deed. Investors from the United Kingdom will be
familiar with the sellers information pack as they have recently been introduced
for certain Uk sales. The pack will include a survey and this can not only help
to keep costs down but will alert you to any problems with the property prior to
purchase.
So if you are seeking an holiday home insurance quote for a property in
cities like Amsterdam, Rotterdam, Eindhoven and Tilburg why not see if we can
help? In addition, Assetsure provide overseas property insurance and
holiday home insurance for other countries including Australia, Austria,
Belgium, Bulgaria, Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece,
Egypt, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Liechtenstein,
Luxembourg, Malta, Monaco, Montenegro, Morocco, Netherlands, New Zealand,
Norway, Poland, Portugal, Romania, Slovakia, Slovenia, South Africa, Spain,
Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom
(UK) and Venezuela.
