Checklist for buying a house in Hungary

Imre Németh,  Monday, 4 September 2023

Checklist with hand and pencil 

1. Choosing the Location: What type of place do you prefer? A big city, small village, rural setting or by the sea? Think about factors like proximity to motorways, airports, shops, the availability of high-speed internet, etc.

2. Budget Planning and Renovation/Maintenance Costs: Define your budget and consider all additional costs, such as renovations and maintenance.

3. Climatic Conditions: Hungary has a temperate continental climate with significant differences between the four seasons. Summers are warm to hot, winters are cold with heavy snowfall, and rainfall is comparatively lower than in other European countries. Consider these aspects when choosing your future home. Are you ready for hot summers and cold winters? What implications might these climatic conditions have on your lifestyle or potential renovation or maintenance works on the house?

4. Type of House: Are you looking for a permanent home, a holiday home, or an investment opportunity? Also, consider if you might want to rent out the house to tourists.

5. Condition of the House: Are you willing to undertake renovation works, or do you prefer a ready-to-move-in house?

6. Exploring Different Regions: Consider renting a house first to get a feel of the area. Each region has its unique features, and in some places, property prices can be very low.

7. Advantages and Disadvantages of the House: List the pros and cons of the property. What are your "must-haves", and which aspects are less important?

8. Asking Questions: Inquire about the region, the house, and its history. A good estate agent should be able to answer all your questions.

9. Viewing the House: Never buy a house based solely on online pictures. Visit it in person.

10. Financing the Property: Plan how you'll finance the purchase. Do you need a mortgage? Compare various mortgage offers.

11. Don't Rush: Take your time to make an informed decision.

12. Working with the Agent: Be clear about what you're looking for to avoid unnecessary viewings. Provide the agent with a list of your requirements and visit the property multiple times if you've found one.

13. Independent Advice: Have the property assessed by an expert.

14. Legal Advice: Ensure you hire a solicitor to help with the legal aspects of the purchase, especially if you aren't fluent in Hungarian.

15. Document Check: Thoroughly review all relevant documents. These include land registry entries, construction and renovation permits, energy certificates, etc.

16. Understanding Local Practices: Buying habits and procedures might differ from those in your home country. Educate yourself about the specifics in Hungary.

17. Post-purchase Costs: Also consider the ongoing costs such as taxes, insurance, maintenance fees, community charges, etc.

I hope this helps in your search for a house in Hungary. Good luck!

 


House on the edge of a Hungarian village
Second homes, renovation objects and holiday homes for sale in Hungary. For sale by owner and agents. Properties at Lake Balaton, in Pecs and many other regions. 

Hongarian girl on vacation It's almost daily news: the developments in the housing market in the Netherlands and Belgium. Stagnating prices, longer lead times and problems with financing. Also in the Mediterranean countries, the house prices are still falling, and there is a lot of panic. But what is the current situation in Hungary? Is it wise to buy real estate there and why now? 
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