When visiting Belgium and looking to buy a home, the first question that pops up in most people’s minds is whether they should rent or purchase. Before you can decide which type of housing is best for you, it’s important to understand some basic facts about each option.
For many expatriate families, renting property seems like more feasible choice than buying property . The decision to remain a renter can be due to a variety of reasons – from greater flexibility and mobility being the top two factors – but with an average house price at around €3,500 per square metre in Brussels , it’s easy to see why so many international employees choose this option over home ownership.
Expats living in Brussels might have certain advantages when it comes to renting property. With a dense expat population and lots of multinational companies, the demand for accommodation is high, which pushes down rental prices.
While rent prices are quite reasonable in Brussels (€15 per square metre), those wishing to buy may find the price tag off-putting . On average, properties sell for €3,500 – 4,000 per square meter – making this option unaffordable for most residents . More than 50 per cent of people living in Belgium rent their home, suggesting that it’s definitely more realistic if you’re looking to spend less money on housing every month.
There are many advantages to being a renter rather than a homeowner. For instance , unlike with homeownership where you have to deal with repairs and maintenance, with renting you do not have this added stress. However, it is important to note that there are some disadvantages for renters as well which are worth considering . A renter does not have the security of knowing they can live in their residence indefinitely; once their contract expires, they may need to find a new place to reside.
Another major downside is that landlords can raise the rent or terminate your lease at any time, even if you’ve been living in an apartment for five years without issue. One way around this situation would be to request a clause in your contract stating how often rents can be raised throughout the duration of your stay – but only including these details will help prevent unpleasant surprises. If you expect to return home regularly and/or would like to stay in the home for a long time, renting probably isn’t for you.
Most European countries have significantly lower house prices than Belgium , so if you’re thinking of relocating here and purchasing property is your goal, it may be wise to consider another destination where housing costs are more affordable . One other area residents should take into account when deciding whether or not to buy property in Brussels ( https://www.bluehomes.com/Immobilien-Belgien/B/de/debut.html ) is the cost of transportation . Living in such a compact city means that residents can get anywhere they need to go quickly and easily on foot; however, commuting by car throughout the capital might prove bothersome due to daily traffic jams .
Despite all of its advantages (including low crime rates), there may also be some drawbacks to choosing to live in the Belgian capital. So if you’re still unsure about whether renting or buying is best for you, it might be helpful to speak with a real estate agent who can offer some insight on both options. And remember, there are also many landlords willing to rent their properties – so make sure you do your research before picking an area that suits your needs!
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