Luxembourg has an incredibly competitive real estate market, as do most lucrative countries around the globe. Houses and rental properties are sold-out as soon as they are released into the market. This means one thing; you must employ super smart tactics if you are to find good accommodation fast.
In this article, we share five simple but effective tips to help you with the process. Let’s dive in!
Identify your requirements
Finding a house or apartment to buy or rent is not something you can do on the spur of the moment. You’ll need to list all of the specifics and specifications you’re looking for in an apartment for this.
For example, if you have a family, consider what each person requires. Then make a checklist of these requirements listing them from the hierarchy of importance. The list should be flexible such that you can alter it when needed and cross-check it whenever you inspect a house or apartment.
Some of the key features to include in your list are;
- Rural or urban setting
- Furnished or empty space
- The number of bedrooms
- Toilets and bathrooms
- Type of kitchen
- Office space
- Garage
- Proximity to public transportation, schools, the workplace and other amenities
- Etc.
Your maximum and average budgets (including additional charges)
Renting an average apartment will set you back about €1,370 per month while a house costs €2,357 per month. Fully furnished apartments cost up to double the price of their unfurnished counterparts, but they are well worth it in some cases.
For example, if you’re looking to move in quickly minus the hassle of furnishing a house with furniture and appliances, then these rentals are worth every penny.
Use agents
The easiest strategy to find a property is to use agents who are familiar with the market. They can advise you on the best districts in Luxembourg that correspond to your search criteria, as well as properties that fit your budget.
Good agents will do the legwork and keep you updated on the status of their search. They can also assist you with the administrative formalities associated with the lease contract or the purchase transaction.
Most agents ask to be paid a commission calculated as a percentage of the amount of the transaction which will be reimbursed once they have helped you secure accommodation.
Use referrals
The idea here is to take advantage of both traditional and modern methods of word-of-mouth to let people know you’re looking for an apartment or a house. Social networks such as Facebook can also help you interact with real estate companies as most of them exist on social media.
Be proactive in your approach
As we said, finding good housing in Luxembourg can be difficult because demand for rentals outnumbers supply and also a lot of available houses are for-sale-only. If you’re looking for a place to rent, you might be limited to flats in the country’s urban areas, which can be in high demand as well.
Due to this cutthroat competition, landlords tend to use tactics to cut off prospective tenants; sometimes asking your salary to be at least three times your rent to be considered.
Nonetheless, you must remain vigilant when it comes to properties for sale or rent. Contact the real estate agencies in charge of the properties that you are interested in as soon as they place their ads.
Make your presence known and tell them you’re looking for the same type of property. If they consider you a serious renter, they’re more likely to save your information and contact you when a vacant property becomes available.
Prepare the needed documents
In Luxembourg, renters need to provide various documents such as a job contract, proof of salary, copies of payment slips, proof of income, rent receipts, personal identification details, and deposit amount.
To avoid missing out on good deals, it’s important to have these ready and available for submission as soon as they are needed. Ideally, have all of them scanned and placed in an easily accessible file.
Remember to be assertive and confident in your application to help you stand out from other applicants.
Finally, if buying a house, talk to a financial institution for help with financing and mortgage applications. Again, have all your documents ready for quick processing especially if you’re rushing to close a good deal you just found.
Conclusion
Finding your ideal house or apartment in a foreign country or in a competitive market such as Luxembourg can be frustrating. But with the right approach and knowledge such as what we’ve shared here, you can make your work easier and increase your chances of getting that dream home or apartment.
Good luck!