How do I buy a home in Norway? Christmas Calender with homebuying tips.

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Welcome to Week 2 and 3 of my Advent Homebuyer Calendar —

here are your helpful tips posted from 8. to 18. December!

8. December

 

 

 

 

 

Your First Home Purchase Is the Most Important One

Why do I say that?

Because your first home lays the foundation for your entire housing journey.
Most people want a larger home over time, or their needs change due to family or lifestyle.

If you buy a property with strong value growth potential, you position yourself better for your next purchase — with more equity and stronger financing options.
This isn’t about luck. It’s about making smart decisions from the start.

What Should You Consider When Buying Your First Home?

🔹 Think at Least 3 Years Ahead

To justify transaction costs and fees, you should plan to live in the home for a while.
Stability creates security — financially and personally.

🔹 Choose an Area with Good Public Transportation

Homes with easy access to public transport tend to retain value better over time and are more attractive to future buyers.

🔹 Don’t Be Blinded by “Move-In Ready”

First-time buyers often want everything new.
But a home with renovation or improvement potential can be the key to long-term value growth.
A little effort can deliver significant returns.

🔹 Central Is Good — But Not Everything

We’re seeing strong growth in areas just outside the most popular city centers, as prices downtown have become very high.
There are excellent alternatives beyond the core.

🔹 Buy Where You Can Truly Enjoy Living

Yes, it’s an investment — but first and foremost, it’s your first home.
It should feel right.

Smart Choices Early Give You More Freedom Later

Your first home doesn’t need to be perfect —
but it should be well thought out.

👉 Want more tips for a safer and smarter home purchase?
Follow along in our Christmas calendar for more insights!

9. December

 

 

 

 

 

 

The Purchase Contract – Important, but Not Where the Deal Is Made

Many buyers believe that the purchase contract is the moment when the home purchase “becomes official.”
The truth is that the legally binding agreement is formed the moment the seller accepts your offer.

At that point, all key terms are already set:

  • Purchase price

  • Completion (handover) date

  • Any conditions or reservations

What Is the Role of the Purchase Contract?

The contract you sign afterward is primarily a formal confirmation of what has already been agreed upon, along with a clear description of the next steps in the process.

What You Still Need to Review Carefully

Although contracts are usually standardized, you must always double-check the details:

  • Names and personal information

  • Ownership share

  • Purchase price and transaction costs

  • Completion / handover date

  • Any additional terms or extras

👉 Important: Everything that has been agreed upon must be stated in writing.

No New Terms After Offer Acceptance

The seller cannot introduce new conditions in the contract after accepting your offer.
All reservations must be presented before you submit a bid.

Don’t Wait Until the Contract to “Check the Property”

By the time the purchase contract arrives, it is too late to make critical assessments.

Due diligence must be completed before bidding, including:

  • Reviewing the condition report

  • Asking questions to the real estate agent

  • Evaluating risk and future costs

I’ve often seen buyers send me the purchase contract for review — without realizing that the agreement was already legally binding at that stage.

The Contract Should Never Be a Surprise

The purchase contract should not introduce anything new.
It should simply confirm what you have already agreed to and outline how the agreement will be carried out.

Once signed, send a copy to your bank so your advisor knows when and where the funds must be transferred.

 

 

 

 

 

 

10. December

Planning to Make an Offer? Remember: The Completion Date Matters

When submitting an offer on a property, you must always specify your desired completion (handover) date.
Choosing the right date can actually be decisive in whether the seller selects your offer.

Ask the Agent What the Seller Prefers

Always ask the real estate agent about the seller’s preferred completion date.
If you can be flexible, you significantly strengthen your position — even though the highest bid usually wins.

You should never agree to a completion date that becomes impractical, costly, or stressful.

The completion date has financial consequences for both parties, including:

  • Temporary housing costs

  • Double housing expenses

  • Loan disbursement timing

Your flexibility should never come at the expense of your financial security.

Tip: Build Flexibility Into Your Planning

Plan your home purchase so you have some room to adjust when it comes to the completion date.
That flexibility can give you a strategic advantage — without compromising your own needs.

11. December 

Don’t Fall into the Renovation Trap

You’ve received your mortgage pre-approval and know how far your borrowing limit goes.
Then the dream home appears — with major renovation needs — and in your head, the numbers seem to add up perfectly.

But Banks Don’t Always Calculate the Same Way You Do

Even if you can purchase the property within your approved loan limit, it does not automatically mean the bank will finance the renovation.

Many banks are willing to fund the purchase price, but they are reluctant to advance money based on a future value that only exists after renovation.

What This Can Mean for You

You may need to provide additional equity or cash to cover renovation costs — which many buyers simply don’t have available.

🎄 Today’s Tip

Before placing an offer on a property that requires renovation:

👉 Talk to your bank and clarify whether they will finance both the purchase and the renovation.
👉 Ask for clear and concrete limits, so you don’t end up owning a home you can’t afford to renovate.

12. December

Remember to Review the Housing Association and Neighbor Agreements

When you buy a home, you are also buying into a shared community.

Whether it’s a housing cooperative, condominium, or a semi-detached property, you should carefully review:

  • Bylaws and regulations

  • Financial health and budgets

  • Ongoing management and maintenance

  • Any existing neighbor or shared-use agreements

“It’s Always Worked Fine” Isn’t Always Enough

Arrangements that worked well between previous owners may not be sufficient when you step in as a new owner.

Clear agreements and sound management create safer ownership and help prevent unpleasant surprises down the line.

Why This Matters

Strong governance and transparent arrangements make a significant difference to both:

  • Day-to-day living

  • Long-term property value

This is something I always review thoroughly for my clients — because experience has shown just how important it can be.

13. December

Can You Trust the Real Estate Agent as a Buyer?

Many homebuyers feel uneasy when dealing with a real estate agent:

👉 Am I being treated fairly?
👉 Are “tactics” being used to push the price up?

The Short Answer: Yes — Generally, You Can Trust the Agent

Real estate agents are subject to strict laws, regulations, and oversight.
They are required to act in accordance with the law and established professional standards (“good brokerage practice”) and must show due care toward both parties, including you as the buyer.

Complaints Do Happen — But Context Matters

There are cases where agents receive complaints and, in some situations, are required to pay compensation if they have acted in breach of regulations.

However, it’s important to understand:

  • 🔹 Feeling overlooked does not automatically mean the rules have been broken

  • 🔹 The agent is hired and paid by the seller and is tasked with achieving the best possible price for the seller, which naturally creates a role imbalance

What to Do If You Experience Poor Treatment

  • Notify the agent in writing as early as possible

  • You may also file a complaint with the Norwegian Board of Complaints for Real Estate Brokerage Services or contact the Consumer Council

Remember

Knowledge creates confidence — and a well-informed buyer is always in a stronger position when purchasing a home.

14. December 

Check Shared Costs and Fixed Fees

Housing Costs Are More Than Just Mortgage Payments

When evaluating a property, it’s essential to look at ongoing living expenses, not just the purchase price.

For Apartments and Condominiums

Make sure you understand the monthly shared costs (common charges):

  • Check what is included (heating, hot water, internet, insurance, etc.)

  • Ask for an explanation if the level seems unusually high — the board or property manager should be able to document this

  • Compare with similar buildings in the area

  • Read the annual report and maintenance plan — planned projects can lead to increased costs

  • Consider both your personal finances and future resale value

For Single-Family Homes

Don’t forget about municipal fees, including:

  • Water and sewage

  • Waste collection

  • Property tax

These costs have increased significantly in recent years and can have a major impact on your monthly budget.

Bottom Line

Shared costs and fixed fees are a key part of total housing expenses.
Make sure you have a clear overview before placing an offer.

15. December

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Shared Debt Is Part of the Total Purchase Price

What do I mean by that?

Many apartments — especially in housing cooperatives and housing companies, but also in some condominiums — have shared debt.
This is a collective loan taken out by the housing association and allocated to each unit.
Interest and principal payments are covered through the monthly common charges.

Important to Know

From the bank’s perspective, shared debt is a real debt obligation.

It is included when the bank assesses:

  • How much you can borrow

  • Your total debt level

This means it is deducted from your maximum loan capacity, just like a private mortgage.

What This Means for You as a Buyer

You must:

✔️ Include shared debt when calculating the total price
✔️ Factor it in when comparing price per square meter

High Shared Debt Isn’t Necessarily a Bad Thing

Many buyers are wary of high shared debt — but it doesn’t automatically mean higher risk.

What really matters is the total cost of living, not how the debt is structured.

👉 High shared debt often means:

  • Lower purchase price

  • Smaller private mortgage with the bank

If the housing association has secured favorable interest rates, the shared debt can actually be cheaper than your private home loan. In such cases, keeping the shared debt may be financially sensible.

The IN Scheme (Individual Repayment Option)

Many housing cooperatives offer an individual repayment option (IN scheme), allowing you to repay your share of the shared debt later if you choose.

The Bottom Line

Don’t be afraid of shared debt — understand it.
Informed buyers make better decisions and stronger investments.

16. December

Is the Home Buying Process Truly Independent?

As a buyer, you rely on being able to trust the information you receive.
But did you know that it is usually the real estate agent who selects the appraiser and orders the condition report — on behalf of the seller?

In Denmark, this is not allowed. There, the condition report must be ordered by the seller before a real estate agent is engaged.

Structural Links in the Housing Market

Many real estate brokerage firms are also owned by banks, which at the same time offer:

  • Mortgage financing

  • Insurance products

There are agreements in place where brokerage firms may receive kickbacks or commissions related to these services.
According to regulations, such arrangements must be disclosed.

Regulated — But Still Influential

Everything is governed by laws and regulations and is intended to function transparently and properly.
Still, the structure of the market can influence:

  • Which information is emphasized

  • How risk and opportunity are presented

  • How the housing market is described — including in the media, where the brokerage industry plays a significant role

A Heads-Up, Not a Warning

Much more could be said about these issues, but this is simply a heads-up.

The point is not to create distrust — but awareness.

An informed buyer who thinks independently makes better, safer decisions.

17. December

Is the Home Buying Process Truly Independent?

As a buyer, you rely on being able to trust the information you receive.
But did you know that it is usually the real estate agent who selects the appraiser and orders the condition report — on behalf of the seller?

In Denmark, this is not allowed. There, the condition report must be ordered by the seller before a real estate agent is engaged.

Structural Links in the Housing Market

Many real estate brokerage firms are also owned by banks, which at the same time offer:

  • Mortgage financing

  • Insurance products

There are agreements in place where brokerage firms may receive kickbacks or commissions related to these services.
According to regulations, such arrangements must be disclosed.

Regulated — But Still Influential

Everything is governed by laws and regulations and is intended to function transparently and properly.
Still, the structure of the market can influence:

  • Which information is emphasized

  • How risk and opportunity are presented

  • How the housing market is described — including in the media, where the brokerage industry plays a significant role

A Heads-Up, Not a Warning

Much more could be said about these issues, but this is simply a heads-up.

The point is not to create distrust — but awareness.

An informed buyer who thinks independently makes better, safer decisions.

18 December

Follow the Housing Market — But Who Is Actually Telling the Story?

In Norway, we follow the housing market closely.
That’s hardly surprising — most people have significant wealth tied up in their homes, and many depend on price growth to move forward in their housing journey.

But when we read headlines about “strong price growth” or “high market activity”, it’s worth asking one simple question:

Strong — for whom?

Who Shapes the Housing Market Narrative?

The most widely used housing price statistics in Norway come from Eiendom Norge, the interest organization representing the largest real estate brokerage firms.

The data itself is real and accurate — but the presentation is not neutral.
The language and framing are often more seller-friendly than buyer-friendly.

For example:

  • The term “buyer’s market” is rarely used

  • When activity slows, it’s often described as “certain segments cooling”

  • Focus quickly shifts to the properties that are still selling well

All of this helps maintain momentum and expectations in the market.

Why Forecasts Often Miss the Mark

At the same time, we see macroeconomic analyses and forecasts that frequently fall short — because the housing market is:

  • Local

  • Selective

  • Deeply human

General predictions struggle to capture this complexity.

Experience from the Market Beats Headlines

From my experience:
If you are actually active in the market and participate in a few bidding rounds, you quickly sense the real temperature.
That insight often provides more value than headlines and predictions.

A Final Reminder

Even in slower markets, attractive homes still sell at good prices.
Avoid drawing firm conclusions based on one or two unsuccessful attempts.

When I write about housing prices, I aim to do so from the buyer’s perspective — so you can make better, safer, and more informed decisions.

👉 Stay informed, stay critical — and feel free to share your own experiences in the comments.

 

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Boligdama’s Christmas Homebuyer Calender with Smart Tips for Your Purchase

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Welcome to Week 1 of my Advent Homebuyer Calendar —

here are your first helpful tips!

1. december

 

The Homebuyer Stands Alone Against a Professional Party – The Real Estate Agent

Today, I want to remind you of a fundamental fact in the home-buying process:

Real estate agents are, by law, required to act “in accordance with good brokerage practice” and to look after the interests of both parties. And according to the real estate industry itself, they are neutral intermediaries.

Yet there is a reality every buyer should be aware of:

👉 It is the seller who is the client.
👉 It is the seller who pays the agent to achieve the best possible price and terms.
👉 The seller therefore has a professional party supporting them throughout the entire process.

What about the buyer?
Of course, the buyer receives information about the home, the bidding process, and the transaction itself. The agent answers questions and is meant to contribute to a safe process — but:

🔹 Fulfilling the buyer’s duty to investigate
🔹 Assessing what price to pay
🔹 Navigating the bidding round with their own interests in mind

…all of this is the buyer’s own responsibility.

Studies show that the majority of us perceive the real estate agent primarily as the seller’s representative.

My motivation

It was precisely this imbalance between seller and buyer that made me, more than ten years ago, decide to become a buyer’s advisor. Not to create distrust — but to contribute to balance, awareness, and better decision-making in what is, for most people, the biggest purchase of their lives.

Welcome to this year’s Christmas calendar from Boligdama — where each window gives you a small piece of home-buying knowledge.

2. december

The Asking Price Isn’t Always the Market Price

The asking price isn’t just about what the seller hopes to achieve — it can also be influenced by strategy. Some sellers set the bar high because they believe their home is especially valuable. Other times, the agent may have given an optimistic valuation to secure the assignment, leading to a high starting price that later needs to be reduced.

In a slow market, starting too high is rarely wise for the seller, because the property can quickly lose interested buyers.

What does this mean for you as a buyer?
Be reasonably skeptical of the asking price. See it as a starting point — not the truth. Focus instead on determining what the property is actually worth, based on comparable sales, condition, location, and the current market situation.

For my clients, I put a lot of work into exactly this. I use tools and expertise to estimate a realistic market value, so they can purchase at a price that makes sense and feels secure. Often, we end up with a level that both buyer and seller can be happy with.

And if you’re the only bidder — and your analysis shows the home is worth less than the asking price — don’t feel pressured to “match” the number in the listing. It’s the market, and your well-founded assessment, that truly matters.

3. december

The Buyer’s Responsibility in a Home Purchase

When you buy a property, you are expected to understand everything included in the sales documentation. The whole package: the condition report, the seller’s disclosure, the information provided by the agent, and what you observe during the viewing.

This is what the Norwegian Property Transfer Act refers to as the buyer’s duty to investigate. In short, it means that you, as the buyer, must form a clear picture of the property’s strengths and weaknesses — and the potential risks and future costs you may be taking on.

When the seller accepts your offer, the agreement is legally binding and based on the information that has been presented both in writing and verbally. That’s why my advice is simple:

👉 Read EVERYTHING — ALWAYS

There is a lot of information, and parts of it can be difficult to interpret — especially the condition report.

That’s why one of my most important tasks as a buyer’s advisor is to break down the documentation and highlight what truly matters — particularly the issues that may involve risk later.

The marketing materials and the beautiful photos?
The agent handles that perfectly well…

I help you with the rest ❤️

4. december

Keep Your Cards Close in the Bidding Round

In a bidding round, being strategic isn’t just allowed — it’s essential.

In Norway, property bidding follows an auction-style system: Interested buyers bid against each other, the agent manages the process — and the highest bid wins if the seller accepts.

The system appears transparent, but only on the surface. You can see the latest bid, deadlines, and any conditions.
What you can’t see is what the other bidders are thinking, where their limits are, or what strategy they’re using. And that’s exactly where the game begins:

✨ Some raise quickly and aggressively to intimidate.
✨ Others increase by the smallest amount to appear nearly maxed out.
✨ Some stay silent — then strike at the end.

The agent naturally wants the highest possible price for the seller and will often try to gauge how interested you are. You can be polite and professional — but never reveal your budget or strategy. That’s information only you should know. And don’t take the agent’s advice blindly if they encourage you to “just increase a little” to secure the home.
The agent doesn’t know the other bidders’ limits or strategies either!

Bidding rounds are often intense and emotional. When you’re the only bidder, it’s even more important to stay calm and protect your own interests.

I’ve helped hundreds of buyers secure a smart and safe purchase by assisting in the bidding round. It’s exciting every time — and no two bidding processes are ever the same.

5. december

 

Illegal Modifications and Unapproved Rooms Become the Buyer’s Responsibility

Many homes — especially detached houses and townhouses — contain rooms that look like living rooms, bedrooms, or habitable spaces, but that are not actually approved for permanent occupancy. It might be storage rooms converted into basement living space, or extensions and alterations that were never submitted for approval.

These are often referred to as illegal modifications, because such changes require an application for change of use and approval from the municipality.

In the past, this was often difficult to detect, but now it is more clearly addressed in the condition report — typically under the section on floor plans and legal compliance.
👉 If you find something here, you should pause and investigate further.

When you buy the property, the responsibility becomes yours. You are then essentially faced with three options:

1️⃣ Accept that the room is not legally approved
2️⃣ Apply for change of use (which involves fees and potentially required upgrades)
3️⃣ Acknowledge that the property’s value may be lower, as more and more buyers care about legal compliance

It’s rarely a matter of fines for such issues, but it can affect both usability and market value.

Today’s tip:
Always read the legality section of the condition report carefully — and ask questions if anything is unclear. And be sure to factor this into your bidding strategy.

6. december

There Is No Right of Withdrawal When Buying Property in Norway

In Norway, an offer is legally binding — and once the seller accepts, you have effectively bought the property. Many buyers are surprised by how difficult it actually is to back out if they regret the purchase. By law, the seller and the agent can require you to complete the transaction, pay the purchase price, and take over the home.

Changing your mind can be expensive. In several cases, buyers have been forced to resell the property immediately — carrying all the risk and costs that come with it. Only in cases of serious legal issues, such as withheld or incorrect essential information, can you demand to cancel the purchase.

In many other countries, some form of right of withdrawal exists in real estate transactions — but not in Norway. This creates an efficient housing market, but it also places significant responsibility on the buyer:

Therefore:
Investigate everything and clarify all uncertainties before you submit an offer.

7. december

Don’t Lose Your Head in the Bidding Round

Bidding rounds make most people feel a bit dizzy. It’s rarely a homebuyer’s favorite situation — your pulse rises, thoughts race, and suddenly it becomes all too easy to stretch further than both your plan and your gut feeling would allow.

When I talk about “losing your head,” this is what I mean:
👉 Bidding far above what you had planned
👉 Assuming the market value is higher than it actually is
👉 Letting adrenaline — not judgment — take control

The riskiest situation is when you are bidding against just one other buyer, and the price jumps by hundreds of thousands while neither side wants to back down. That might be justified if the property is truly unique and you know you’ll never find anything like it again — but that’s rare.

So remember:
Your heart can have a voice
But your head must stay in charge all the way ❤️

Enter the bidding round with clear limits — and stick to them, within reason.

Keep following more tips to come until the 24. of december !

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How to Navigate the Legal Side of Buying a Home in Norway

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You may already know that in Norway, there is no right of withdrawal when buying a property. Once the seller has accepted your offer, a legally binding contract has been formed.

The seller, usually assisted by a real estate agent, is required to provide full and accurate information about the property — this is called the seller’s duty of disclosure. Before placing a bid, you as the buyer are expected to carefully read and understand all documentation related to the sale. This is known as the buyer’s duty of investigation.

After the purchase, you may submit a complaint if there are defects that legally qualify as a “mangel”, meaning either important information was withheld or the property has hidden faults that were not possible to discover prior to purchase. However, the legal threshold for what qualifies as a defect is high. If information was provided but misunderstood or overlooked by the buyer, this does not count as a valid claim.

Read this:  The bid is binding when you buy a home in Norway

How I Help You as a Home Buyer’s Advisor

As a professional home buying consultant, I ensure that your duty of investigation is properly fulfilled. I thoroughly review all available documentation, interpret technical terms, and follow up with the agent or surveyor when clarification is needed. Sometimes, I may advise you to ask specific questions directly, but I will always highlight anything that could represent economic risk to you.

One of the most important documents is the condition report from the technical surveyor. These reports can be difficult to interpret — it’s not always obvious what is serious and what could lead to costly repairs later.

Surveyors are legally required to point out circumstances that may pose risks to the buyer. A recent Supreme Court ruling clarified that it is not enough to mention general risks based on building age — for example, “drainage issues are common with older homes.” Instead, the surveyor must describe specific risks related to the actual property, such as sloping ground toward the basement walls.

Why Mistakes Still Happen

In theory, this system makes the buying process smooth and secure. Sellers disclose all relevant information, and buyers make informed decisions. The fact that offers are binding ensures a fast and efficient transaction.

However, in practice, many buyers are overwhelmed by the large amount of documentation. Sometimes important details are technically mentioned — but not emphasized — since both seller and agent want the property to appear as attractive as possible.

As a result, 1 in 4 housing transactions in Norway end in a dispute after the purchase. These cases are usually handled by insurance companies, as both buyers and sellers have legal protection insurance. Still, not all claims qualify as defects under law, and many cases end up in court.

A Better, Safer Experience

I am proud to say that none of my clients have felt the need to pursue legal action after their home purchase. When everything is properly reviewed and understood beforehand — with my trained eye catching the details — buying property in Norway is safe and predictable.

If you have questions about the home-buying process in Norway, feel free to contact me — or download my Home buying Guide Norway. 

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Norwegian Housing market august 2025, what to expect this fall.

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Housing prices fell by 1% in July, but seasonally adjusted they increased by 0.2%. Overall, prices have risen 5.6% so far this year.

Oslo is lagging somewhat behind the rest of the country, with only 2.9% growth so far this year. The early-year forecasts of double-digit growth now look set to fall through quite thoroughly!

From a buyer’s perspective, the current market in Oslo (and in several other places) gives no reason to fear a major price surge in the near future, even if interest rates were to be cut further. It takes some time before such changes fully take effect. There are fewer homes for sale than before the summer holidays. Lower supply can influence bidding rounds and prices, but we don’t yet know how this will play out in the coming months.

Now, in mid-August, quite a few homes have already been put on the market. And there was no interest rate change this time, even though one or perhaps two rate cuts are expected during the autumn. So there are no signs that the market will take off, even though it’s the season for buying smaller homes for students, where parents often help out. In that segment, we might see some intense bidding wars.

Stay tuned for my updates ❤️

So my advice is:
Don’t let the market pressure you. Take your time planning, think about your housing needs before your investment goals – and seek guidance if you feel uncertain.

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