Note the location'Location' is a sacred word in the real estate sector, because the location largely determines the value of a property. This is also the case for residential real estate. The quality of a location is also quite steadfast. That is why it is sometimes better to buy a less attractive property in a nice street than a nice property in an ugly street. You can relatively easily make the ugly house attractive, but that does not apply to the street. The art of buying real estate is being able to estimate which locations will be top in the future. Because at such locations there is a prospect of great added value.
Go in search of sleeping building landBuilding land is said to be scarce in Belgium. Many aspiring builders give up after long fruitless searches, and still opt for an existing home. However, the stock of building land is still far from exhausted. Only there is not a 'for sale' sign on every parcel. Many private landowners are not in a hurry to sell. But that can change quickly if they get a conceet bid. If you know a beautiful vacant plot, try to find out the owner's details. This is possible at the Land Registry, for example.
Cheap is not always betterBuying an existing home that is still to be renovated has the advantage that you can spread the investment over time. The fact that the regulations on energy performance still focus on the new-build market also provides a price advantage for existing real estate. But be aware that the prices are relatively high in the segment of smaller houses, due to the high demand. If a thorough renovation is then required, the total price tag may be disappointing.
Find out if you can enjoy premiumsBefore you buy or build a property, it is advisable to inquire about whether you can get premiums from the federal government, the municipality, the province or the region. Those premiums are awarded for many works and are often not negligible. The premiums for Flanders can be found on www.premiezoeker.be , for Wallonia on www.wallonie.be and for Brussels on www.curbain.be. If you take out a housing loan, there is a risk that you will involuntarily lose your job or become unable to work for a long time. You can insure yourself against this by taking out a free unemployment insurance policy. This is possible in both Flanders and Wallonia, but not in Brussels.
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