Buying vs renting a house in the Netherlands

The pros and cons of buying or renting a house

As an expat, you have the option of buying a house in the Netherlands. Buying a house has its advantages compared to renting a house, but it has some downsides as well. So should you rent or buy a home if you’re living in a new country? Let’s take a look at the pros and cons of each.

 

Buying or Renting?

 

Buying

  • You know where you stand with your living expenses if you have a fixed interest rate.
  • You can deduct the interest from your taxable income, provided you meet certain conditions.
  • Repaying your mortgage means that you build up capital.
  • If house prices go up, the value of your home probably will too.
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  • You are responsible for your home’s maintenance.
  • Higher fixed monthly costs, due to additional insurance, property tax and council tax.
  • Your living expenses could change if the mortgage interest rate changes.
  • Your home’s value may drop, leaving you to sell it at a loss.

Renting

  • Tenants’ rights are well-protected in the Netherlands; your landlord can’t evict you without good reason.
  • You may be entitled to housing benefit.
  • The landlord is responsible for your home’s maintenance.
  • It’s not easy to make changes to your home, as you need the landlord’s permission.
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  • You are not building up any capital in your home.
  • Your rent will usually increase every year.
  • If you’ve done any work to your home, you will often not recover the investment.
  • There is limited supply of rental housing in popular cities/areas, so you will likely face a long wait.
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