Househunting in a new country is challenging

Av: Dato: English

One of my customers, relocated from New Zealand, send me some words about her experience using my services. I will like to share them with you.  It is a good recommandation of course:) But her story will also help you to understand the dynamics of the  housing market in Norway.

I would like to recommend  the services of Trude Larsen – Boligdama. She is a specialist broker/agent for real estate in Oslo. She is extremely knowledgeable, professional, knowledgeable and was very helpful when we were looking for a house to buy i Norge.

Filling the gap

Trude is a unicorn here. Norwegian real estate is dominated by the selling and NOT the buying of houses.She has worked the selling side of Norsk real estate for many years,knows how the system works, the local regions, and can help match you to a property and location.

Trude started her business, Boligdama 5 years back, because she saw the gap that exists with the buying of property here.  The regular real estate agent work mainly in favor of the seller.

Househunting in a new country is interesting and a little challenging (and can be daunting before you dive in). Therefore, it is wise to seek help in the process.

I was impressed by Trude’s work for us and will strongly recommend her if you are planning to buy a home in Norway.

 Also useful to read: Remember that the bid is binding when buying av home in Norway

 

 

 

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Renting a home in Norway

Av: Dato: English

If you relocate to Norway and are not in a position to buy  a home. Or you just prefer to rent instead.  I work primarly with home buyers, but if you find it useful, I can also help you to find a good object for rent.

But first I want to share some information about renting a home in Norway:

It is important that prospective renters have 3 months worth of lease payments available before starting a search. It is also recommended that you make a short rental CV which can be used to present to landlords – your name, contact details, occupation, why you are living in Norway and for how long, family information (if you have children or pets moving in with you, smoker, etc).

This article is useful.  It is quite accurate about how the rental real estate systems work here.

To be able to find a home to rent finn.no is the main key.

The landlords are mainly private people who have invested in one or two extra properties.  Some of them use rental brokers, some of them self-manage. So you have to be aware of that and get a professional contract, etc.¨, especially if the don’t use a rental broker.

The main rental brokers in Oslo are:

Utleiemegleren
Krogsveen Utleie
Leiebolig.no

It is possible to make direct contact with these agents to ask about properties, however they may not have time to search for properties for you. But you might be lucky that they have exactly the property you search for available. Generally realtors will put an ad on finn.no and let people applyo them through there.

In other words: normally you have to do the search yourself, by yourself.

 I  can help you find a property to rent.

 

 I offer the following services:

1. Help you map your requirements and monthly budget

2. Suggest good areas (suburbs) to live in that meet your needs and put up a search at finn.no

3. Send property links and suggestions to you regularly

4. Give contact details of the seller/agent, or if you prefer: talk to the landlord or rental broker
to introduce you, arrange viewings  etc.

Once you have decided to visit properties:

5. You will go to the viewing yourself (If you want me to view with you it will depend on my availability and I charge separately for this service)

6. If you like the house/apartment I can offer assistance negotiating with the landlord/rentalbroker.

7. Ensure you get a legal and proper leasing contract.

I offer my services by the hour – 1.100NOK – per hour. I estimate 6 – 10 hours of research and assistance (depending on your  housing needs – location, necessities and wants in a property.

I hope this was useful.  And please contact me if you have more questions or need help.

Best regards
Boligdama

T: 950 37 330

trude@boligdama.no

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How is the housing market in Norway in Corona times?

Av: Dato: English

Are you an English speaker who are planning to buy a home in Norway in the near future? Then you might be interested to know about the situation on the housing market right now?

High activity and rising prices

This headline summaries the situation in short.  In spite of higher unemployment rate and difficulties in many industries, people are buying new homes like never before.  It seems that the very low interest rate on mortgages overrides the negative factors of the Corona crisis.This together with an even bigger focus on the home and living conditions has led to a record number of sales during this summer and autumn.  People have maybe experienced the “home office life” and found out that they need another type or a bigger home?

Price development

Before Corona most experts expected a moderate rise of the housing prices in Norway.  This has not been the case and the prices are now 5,8% higher than 12 months ago in the country as a whole.  In Oslo the price has increased with 7,7% the last 12 months and there are some worries that they will increase even more in the following months, up to a unhealthy level To keep up a healthy housing market it is important to have a balance between supply and the demand.  This depends on, among other things, that enough newly built homes are put on the market.The supply of houses the market has been quite good so far.  Despite that the prices have increased.  Most people have kept their jobs during the crisis and the access of reasonable mortgages has been quite good .
The Mortgage Regulations from the authorities regulates how much the banks can lend people.  The regulation has been softened a bit due to Corona, but will likely be tightened this november.

New regulation on requirements for residental mortgage loans.

The forecast for the coming years.

Even if the economy in general will have a weak development in Norway, the experts have changed their earlier forecast regarding the housing prices.  They now believe that the prices will rice with 4% or more the coming years. Development in housing prices is very important for the Norwegian people.  Around 80% own their own home in this country and most people use a big part of their income in housing expenses.

Read:  Remember that the bid is binding when you buy a house in Norway

Need help or want to know more?

The self-owner philosophy and favourable tax benefits for primary housing are also a trigger for foreigners who come to Norway.   As a home buying consultant I experience an increase in inquiries from this group.  With some help with understanding the system and the language they end up as satisfied home owners. Do you have question about home buying in Norway, please do not hesitate to contact me.On my blog you can read more information in English and stories from some of my customers.

Best regards
«Boligdama»

Trude Larsen T: +47 950 37 330

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Remember that the bid is binding when you buy a home in Norway

Av: Dato: English

In my work as a home buying consultant I have experienced that people with foreign background often are unaware of the fact that the bid is binding when buying a property in Norway.  They ask me to check the purchase contract after already giving a bid on the property.  

That is actually too late in relation to the system for buying and selling homes in Norway:

Your bid is binding once the seller has accepted it.  That means that you have to check both the sales material and the property before you give a bid.  You have no regrets unless the seller have given you very wrong and defective information about the property.  This is seldom the case because the real estate agent are helping the seller to give the correct information in the sales material. The purchase contract is merely an affirmation of what has been agreed through the bidding process.

I am not very surprised that people from other countries misunderstand this, because most other countries have some sort of right of withdrawal or system for checking the property after the bid has been accepted.

The Norwegian system gives the buyer a big responsibility, and you have to work very hard in advance of the bidding round to check the sales material and the property.

If you need help in connection with buying av property in Norway please contact me on e.mail:
trude.larsen@boligkjopsradgiver.no

Read    To buy a house in Norway from abroad.

 

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