How to Buy Your First Property: A Seven-Step Guide

Your first purchase is the only one where nothing is routine. This guide lays out the entire process in seven steps and lists what to check, how long it takes, and where money is most often lost at each stage.

The budget is not the loan amount the bank approves, but the amount you can repay without making sacrifices that won't last three years. Start with your own funds and subtract everything that isn't the property price.

• Down payment — usually 10 to 20 percent of the price.
• Real estate transfer tax, when applicable.
• Notary fees, property appraisal, and registration costs.
• Agency fee, if buying through an intermediary.
• Moving-in reserve: joinery, appliances, minor repairs.

Only the amount remaining after all that is your actual budget for the property itself.

A non-binding credit assessment takes a few days and costs nothing. Without it, you are negotiating blindly, and sellers recognize serious offers specifically by the buyer knowing their framework.

Compare offers from multiple banks: the interest rate is the most visible item, but the total cost of the loan is also determined by processing fees, appraisal costs, and early repayment terms.

First impressions work in the seller's favor. That’s why you should conduct your viewing based on a checklist, not a feeling.

• Moisture in corners, near windows, and in the bathroom.
• Age of installations — electricity, water, drainage, heating.
• Joinery and sealing quality.
• Condition of the roof, facade, and common areas.
• Noise levels at different times of day, not just on Sunday morning.
• Room orientation and amount of light.

If possible, view the same space twice, the second time at a different part of the day.

Before any deposit, request the title deed and check if the seller is the registered owner and if there are any encumbrances — mortgage, usufruct, or notice of dispute. For an apartment in a building, also check the floor-plan unitization.

This includes the occupancy permit or corresponding proof of legality, energy certificate, and confirmation of paid utilities and reserve funds.

When the paperwork is clear, a pre-contract with a deposit follows, then a purchase agreement certified by a notary public. Payment is most often made via an escrow account or with a bank guarantee, and a tabular statement allows for ownership registration.

At the handover, meter readings are recorded in a protocol and all keys are handed over. This protocol is the only evidence of the condition in which you took over the property — do not skip it because everyone is in a hurry.