You're moving out of your parents' home. That's a big step! But what do you have to take into account? What will change? Let's zoom in on what's important.
An organised search
Set your budget
Take time to decide whether to buy or rent. Want to buy a home but can't afford to finance it yourself? KBC Brussels's here to help you. We're certain to have a mortgage loan that suits you. So, be sure to use our calculator to check out what a home loan will cost you so you're fully prepared. You should be aware that, to take out a home loan, you have to have a certain amount of savings of your own.
Not set any money aside yet? In that case, it might be better to rent for a few years first and save for your own home.
Be careful though. Renting can also be expensive by the time you've paid for things like the security deposit, removals, decorating and insurance. If your budget doesn't stretch that far, you might want to talk to us about a personal loan. That lets you spread your costs monthly instead of paying them all in one go. Loans start at 500 euros.
Work out your personal loan now to see how much you'd pay for it every month.
Decide what you want
Decide what conditions your home must fulfil. Do you prefer a particular region? Would you like to have specific facilities nearby? If you buy your home, you should think about the condition that it's in. Some people want a home that needs a lot of work done on it, while others simply long for a home that's ready for them to move into. Tip: make a list of all of your requirements. That makes the search for your dream home easier.
Start the search
Time to start house hunting! Scour the papers and property websites and make appointments for viewings. As a buyer, you can also use an estate agent.
Sorted out your insurance?
You've found your house or apartment: you're well on your way! About to sign a contract? Visit your bank to take out your home insurance, also called fire insurance, to protect you against all kinds of potential risks. You should also consider family insurance, even if you live alone.
Protect your home and its contents
Storm or fire damage, glass breakage, theft and much more: fire insurance covers your home and its contents against a variety of accidents. What about storm damage to a bicycle or trampoline left outside? It doesn't matter – those risks are covered too.
Extra legal assistance
When you take out a home insurance policy with KBC Brussels, you automatically get extra legal assistance. Handy if you have a dispute with the landlord.
Your change of address
Don't forget to notify the following parties of your change of address:
- Your employer (if you're an employee)
- Social insurance fund, VAT office, social secretariat and commercial register (if you're self-employed)
- Actiris or the Flemish Office for Employment and Vocational Training and the National Employment Office (if you're unemployed)
- Health insurance fund
How does that work?
If you get your own place, you'll be sent an assessment notice for personal income tax every year. Whether it's a salary, a student job or unemployment benefit: you have to declare your taxable income every year. The tax authorities always look one year back. So the tax form you receive this year concerns your income for the previous year. Remember that you have to pay municipal and provincial taxes, too. The exact amounts and percentages vary from municipality to municipality.
Did your parents use to fill in your tax return for you? Don't be embarrassed to ask them for advice so you can handle your finances confidently yourself in future.
How to file a tax return
This can be done in two ways: on paper and via tax-on-web. It's best to go for option two. This gives you a bit more time to get everything together.
Your car insurance
Got your own car? If so, you probably have a car insurance policy that your parents might have paid for up till now. Since you're going to get your own place, this insurance is another cost you have to factor in. The exact amounts involved depend on the type of insurance you choose. Ask your bank or insurance agent about this.
Planning on renting? Our renting checklist is your handy tool!
When renting a home and moving, there's so much to take into consideration. With KBC Brussels's renting checklist, you'll have a list of all tasks, and you'll be able to add them to your own to-do list and diary.