# Buying your first apartment in Serbia: a step-by-step guide > From setting your budget and choosing a property to due diligence, the deposit, financing, taxes and receiving the keys — a guide to the entire process of buying your first apartment in Serbia. - Web page: https://urbaniagent.rs/en/blog/buying-your-first-apartment-in-serbia-a-step-by-step-guide - Language: English - Other language: https://urbaniagent.rs/blog/kupovina-prvog-stana-vodic-korak-po-korak.md - Updated: 2026-08-13 - Published on: 2026-08-13 - Author: Urbani Agent - Categories: Buying Property - Tags: buying apartment Buying your first apartment is likely to be one of the largest financial decisions you have made up to that point. At first, finding the right property may seem like the difficult part. In reality, there are several stages: setting a budget, understanding your financing, checking the property and documentation, negotiating the price, dealing with the deposit, taxes, contracts, payment and handover. The process becomes much easier once you understand **what comes next and what should be checked before moving on to the following stage.** This guide takes you through the entire process, from deciding to buy your first apartment to receiving the keys. ## 1. Start by establishing how much you can really spend Before browsing hundreds of listings, define a realistic budget. Do not look only at the purchase price. The transaction can also involve notary costs, bank and valuation costs if you are using financing, taxes depending on the type of transaction, any applicable agency fee and the cost of renovating, moving and furnishing the apartment. Having €200,000 available does not necessarily mean that the apartment itself should cost exactly €200,000. Leave room for completing the transaction and for the expenses that follow immediately afterwards. If you are using a housing loan, speaking to banks before finding the apartment can give you a much more realistic understanding of your borrowing capacity. Serbian banks establish their own lending criteria and assess applicants under their individual credit policies. ## 2. If you need a mortgage, do not wait until you find the perfect apartment A common first-time buyer mistake is to spend months searching, find the right property, agree on the price and only then seriously investigate financing. It is much more useful to understand in advance how much of your own money you have, what level of borrowing may be realistic and which documents the bank is likely to require. The National Bank of Serbia lists typical housing-loan documentation including evidence of employment and income, a certified preliminary agreement, a property valuation and documentation for securing the loan with a mortgage. This makes it easier to distinguish an apartment you like from one you can **realistically afford to buy**. ## 3. Define what you are actually looking for Your budget is only the first filter. Before arranging dozens of viewings, distinguish your real priorities from things that would simply be nice to have. Location, size, number of rooms, floor, lift, parking, terrace, new-build versus older property, renovation potential and distance from work or school may all affect the decision. Problems arise when a buyer expects: **the best location + plenty of space + new construction + a garage + perfect condition + the lowest price.** The market usually requires some compromise. Decide which two or three criteria you are not prepared to compromise on and where you can remain flexible. ## 4. Do not assess the property from the listing alone The photographs should help you decide whether an apartment is worth viewing. They should not be enough to decide whether to buy it. During the viewing, pay attention to the layout, natural light, noise, installations, moisture, windows, heating, bathrooms, terraces and anything that may require significant investment. Look at the building as well. The lift, entrance, facade, roof, common areas, garage and general maintenance can all affect daily life and future expenses. If substantial renovation is needed, estimate that investment before deciding what the property is worth to you. ## 5. Before paying a deposit, check what you are actually buying This is one of the most important stages. Before making a serious financial commitment, establish who is registered as the rights holder, how the apartment is recorded and whether there are mortgages, notices, other rights or restrictions affecting it. The Republic Geodetic Authority provides cadastral information, while a sale and purchase agreement is one of the documents that may form the basis for registration of a new rights holder. Do not stop at: **“Is the apartment registered?”** Ask: **“What exactly is registered, who is it registered to and is there anything that affects the proposed purchase?”** Our guides **“What should you check before buying an apartment?”** and **“Registered apartment in Serbia: what does it actually mean?”** explain these checks in more detail. ## 6. An unregistered apartment is not automatically impossible to buy If the apartment is not fully registered, that does not necessarily mean the purchase should be abandoned. It does mean that you need to understand **why it is not registered**. The National Bank of Serbia notes that housing loans may also exist for unregistered properties, although additional documentation proving the chain of off-register ownership is required and the individual bank determines its conditions. A clear chain of rights that has never been registered is not the same situation as a property where nobody can reliably explain the seller's legal basis. We cover this separately in **“Can you buy an apartment that is not registered in Serbia?”** ## 7. An existing mortgage is not automatically a reason to reject the property The same applies where the seller's apartment already has a mortgage. Many people sell properties that they originally purchased with a housing loan. The important issue is to establish the remaining secured obligation and clearly determine how it will be settled and how the existing mortgage will be removed. Serbia has formal cadastral procedures and documentation for the registration and deletion of mortgages. The useful question is therefore not: **“Does the apartment have a mortgage?”** It is: **“How will that mortgage be dealt with as part of this transaction?”** Our guide **“Buying an apartment with an existing mortgage in Serbia”** covers this process in detail. ## 8. Once you understand the property, negotiate the final price The asking price and the price you are prepared to pay are not necessarily the same. Consider the location, micro-location, condition, floor, building quality, renovation costs, legal status and competing properties currently available. The Serbian Republic Geodetic Authority maintains a Real Estate Price Register based on data from completed property transactions, which is used for monitoring the actual property market rather than simply advertised asking prices. Do not negotiate because you have heard that buyers should “always offer 10% less”. Negotiate on the basis of **the specific property and real market arguments**. ## 9. The deposit is a serious commitment, not merely a reservation Once the price is agreed and you decide to proceed, a preliminary agreement and deposit often follow. At this stage, the transaction should clearly address what is being purchased, the price, the deposit, payment of the balance, the deadline for the final contract, the consequences if either party fails to perform and what happens if the buyer depends on financing that is ultimately not approved. If you are using a mortgage, do not pay a substantial amount based on a verbal promise that everyone will “work something out” if the loan is declined. We cover this separately in **“Deposit when buying an apartment: how much should you pay and what should you know beforehand?”** ## 10. Check whether you qualify for first-time buyer tax relief If this genuinely is your first apartment and you meet the statutory conditions, you may qualify for a significant tax benefit. The type of relief depends on the tax regime applying to the particular purchase. Where VAT applies to the purchase, an eligible first-time buyer may currently claim a VAT refund for up to **40 m²**, with up to an additional **15 m² for each qualifying household member**. The Serbian Tax Administration also confirms conditions relating to previous property ownership dating from 1 July 2006. A different first-home relief regime applies to transactions subject to property transfer tax. The Serbian Tax Administration currently states that the property transfer tax rate for relevant real estate transfers is **2.5%**. We have covered both subjects separately in: **“VAT refund for your first apartment in Serbia”** and **“Property transfer tax when buying an apartment.”** These issues are best checked **before completing the transaction**, rather than after everything has already been signed. ## 11. If you are using a housing loan, the bank's property-specific procedure now begins Once you have selected the property and agreed the transaction, the bank can proceed with the concrete financing process. This commonly involves the property valuation, preliminary agreement, credit documentation, assessment of the borrower and preparation of the required mortgage security. These are among the elements identified by the National Bank of Serbia in connection with housing loans. The deadline in the preliminary agreement therefore needs to be realistic. A buyer cannot personally control every stage of the bank's internal process. ## 12. The final agreement is completed before a public notary When the documentation, financing and transaction structure are ready, the final sale and purchase agreement is executed. Real estate transfers in Serbia are subject to the prescribed notarial procedure. After certifying the agreement, the public notary electronically submits the relevant document to the real estate register through systems connected with eŠalter. At this point, the transaction is entering its final stages, although payment and physical handover still need to be completed correctly. ## 13. Make the payment structure completely clear The financial structure should be understood before signing. A straightforward purchase using the buyer's own funds may be relatively simple. A mortgage-financed purchase follows the bank's disbursement procedure. Where the seller already has an existing mortgage, part of the purchase price may be involved in settling that debt. The buyer should know: **what has already been paid → what remains payable → to whom → to which account → under which conditions.** Large payments should never depend on vague verbal arrangements. ## 14. Receiving the keys does not necessarily happen on the day you sign Physical handover is part of the agreement between the parties. The seller may be able to leave immediately. They may require several days to move. Possession may also be agreed only after the full purchase price has been paid. The handover date or condition should therefore be clearly established in the documentation. When possession is transferred, a simple handover record can document meter readings, keys, items remaining in the apartment and the date on which the buyer takes control of the property. ## 15. There are still several practical steps after receiving the keys Once you have the keys, the process is not quite finished. The change of rights holder should be followed through in the cadastre. The Republic Geodetic Authority lists a sale and purchase agreement among the documents that can form the basis for registration, while public notaries electronically submit relevant documents through connected systems. Utility accounts and relevant services should then be transferred or updated, meter readings recorded and the remaining practical handover completed. That is the point at which the purchase begins to feel less like a transaction and more like owning your new home. ## How long does buying your first apartment take? There is no universal timeframe. A purchase using the buyer's own funds and involving straightforward documentation may be relatively quick. A housing-loan purchase adds steps involving credit documentation, valuation, approval and mortgage security. Existing mortgages, registration issues or more complicated documentation may add further stages. It is therefore more useful to create a realistic timetable for the **specific transaction** than to expect every property purchase to take the same number of days. Our guide **“How long does it take to buy an apartment in Serbia from agreement to receiving the keys?”** explains that part of the process in detail. ## What do first-time buyers most often get wrong? Most mistakes are not caused by buyers failing to be real estate experts. They happen because the stages are handled in the wrong order. A buyer pays the deposit and only then checks the documents. They find the apartment first and only afterwards discover that the financing does not work. They budget for the purchase price without allowing for the transaction itself. They assume that “registered” means nothing else needs to be checked. Or they expect a first-time buyer tax benefit without first confirming that they satisfy the conditions. A good buying process is designed precisely to prevent these situations. ## The entire first-home purchase in one line The basic sequence is: **budget → financing → criteria → property search → due diligence → offer → deposit and preliminary agreement → mortgage process where applicable → taxes and reliefs → final agreement → payment → keys → registration and utilities.** You do not personally need to be an expert in every one of these stages. But you should understand **where you are in the process, what comes next and who is responsible for completing it.** ## Conclusion Buying your first apartment should involve neither fear of every possible complication nor the assumption that everything will somehow be resolved along the way. The process becomes much easier when the stages happen in the right order. Establish your real budget and financing first. Find a property that fits your needs and establish exactly what you are buying. Only then move into the deposit, agreements and significant payments. Check any first-time buyer tax relief that may apply, define the handover clearly and follow the administrative process through to completion. At Urbani Agent, this is how we see the role of a real estate agent. Not simply as someone who unlocks the door to several apartments, but as a partner who helps ensure that **from the first viewing until completion, you know where you are in the process and what happens next.** Buying your first apartment is a major decision. It does not have to be a chaotic one. *Note: This article is for informational purposes only and does not constitute legal, tax or financial advice. The requirements of an individual transaction, tax relief or mortgage financing depend on the buyer, property, applicable regulations and the conditions imposed by the relevant institutions.* ## Similar stories - [What should you check before buying an apartment? 10 things you should not skip](https://urbaniagent.rs/en/blog/what-should-you-check-before-buying-an-apartment-10-things-you-should-not-skip.md) - [How long does it take to buy an apartment in Serbia from agreement to receiving the keys?](https://urbaniagent.rs/en/blog/how-long-does-it-take-to-buy-an-apartment-in-serbia-from-agreement-to-receiving-the-keys.md) - [VAT refund for your first apartment in Serbia: who qualifies, how much can you claim and how to apply?](https://urbaniagent.rs/en/blog/vat-refund-for-your-first-apartment-in-serbia-who-qualifies-how-much-can-you-claim-and-how-to-apply.md) - [Tax on the transfer of absolute rights when purchasing an apartment: how much is it and who pays it?](https://urbaniagent.rs/en/blog/tax-on-the-transfer-of-absolute-rights-when-purchasing-an-apartment-how-much-is-it-and-who-pays-it.md) --- Contact: Urbani Agent · +381642420492 · info@urbaniagent.rs · Omladinskih brigada 90v, Novi Beograd