Checklist for Buying a Housing Cooperative
Buying a home is both a big and important investment. Therefore, we have created a checklist of things to consider when buying a housing cooperative to help you along the way.
Things to Consider Before Viewing
It is advisable to arrange the financing of the purchase before a viewing. This way, you can already decide during a viewing what you can afford and the highest bid you can consider. Ask the agent what the starting price of the property is and what the seller expects for a price.
Decide on your requirements and wishes. What is important and what can you compromise on? If your requirements are not met, consider if you can afford the renovation for what is important to you to live comfortably.
Sometimes repairs or renovations may be needed. Find out what costs you can afford.
Things to Find Out About the Property & the Association
Read through the agent's property description and feel free to ask if you have any questions.
When was the last renovation, have the pipes in the kitchen and bathroom been replaced?
Is there a basement or an attic included in the monthly fee?
What exactly is included in the monthly fee? You can usually find this in the property description from the agent. Also, see how the property is heated.
Always find out the move-out and move-in dates for your new home.
Our agents help you with a housing calculation. You can also use Notar's housing calculation.
Find out what type of housing association it is. Ask the agent and find out if it is a genuine or non-genuine association. You can also request to view the latest annual report to understand if the fees will change. If the association has decided on repairs, it can affect your monthly fee.
If there are no balconies, you can ask the agent if it is allowed to build balconies or if there are plans for it in the association. It can also be good to know if the neighbor above is going to build a balcony as it can affect the value of your property.
What usage rights apply?
Sometimes the seller leaves wardrobes and similar loose items in the property.
If you have a car, it might be interesting to check for parking possibilities and the additional monthly costs.
Also ask about laundry room, bicycle storage, common areas, pram space.