Your home

Do you really afford the house?

When buying a home, remember that there may be both one and two hundred thousand extra.

Do you really afford the house?

– This insurance is not required

Do you really afford the house?

– No house is without damage or missing

Do you really afford the house?

Young buyers take no chances

Are you planning to buy housing, and maybe you are debutant in the housing market? Do you have an overview of the costs that come in addition to the purchase price, and have you counted on what the living expenses will be?

The additional costs quickly creep up to one hundred thousand extra before the home purchase is in port, and then expenses for insurance, joint expenses and electricity will come when you have moved in..

Someone has taken good care of all the costs associated with the purchase, while others jump a little in the chair when they realize that there is something called a document fee, “says Nordea’s consumer economist, Christine Warloe.. no.

Unexpected costs

If you buy a home for 3 million, there will be 75,000 extra for document fee, and there will also be a registration fee.

And once you get home, there will be even more expenses.

– I experience when I meet with home buyers, and especially first-time builders, that there are some costs you do not think about, describes Warloe.

When we sit with a customer and calculate what they can do in costs, in many cases the housing flow must be scaled down, for example, considering a three percentage point increase in interest rates, says economist at DnB NOR, Sidsel Sodefjed Jørgensen , to click. no.

Sodefjed Jørgensen says that in their calculations they are based on the standard budget prepared by the Norwegian Institute for Consumer Research..

– The first comment we receive from customers is often that they think the budget is too high, but once we’ve worked through it, it’s often reversed.

Stamp

We have taken a 2-room property for sale at Majorstua in Oslo. It has a prize grant of NOK 2 150 000.

The first fee you meet in a home purchase is the document fee. It is 2.5 percent and is calculated on the purchase price.

In our example, it means a cost of 53 750 kroner.

If this amount is distributed over the entire loan period for a loan of 1.5 to 2 million kroner, the monthly load will initially be low.

– But it’s the case that many people change homes several times, and then they get the same one-off costs every time. It can therefore be sensible, to the extent that the economy allows for it, thinking long-term when buying a home, emphasizes Warloe.

It is important to be aware that you do not pay a document fee for the purchase of residential property, stock or bond apartments. For these, instead, there will be a so-called transport fee, paid to the business owner of a housing company.

Do you really afford the house?

COSTS: Here is a good indication of the additional costs. Photo: Screenshot: Zett

registration fees

Cost of housing purchases

  • Document fee: 2.5% (soleier)
  • Litigation fee: 1935, – for mortgage bond and 1548, – for joint
  • Establishment fee loan. If you have a BSU account at the bank you do not have to pay this fee).
  • Transport fee (applicable to housing and stock apartments): 2 x 430, – (bill of lading and mortgage bond)
  • Mortgage Certificate to Lender Bank: 202, –
  • In the case of housing and housing construction companies there may also be fees in connection with the use of pre-emptive rights. At OBOS, you have the following fees:
  • Preemptive Preemptive Rights: 3. 440, –
  • Use of preemptive fee: 4. 300, –
  • Insurance (Check with the insurance company that the assets are insured during the move)
  • Home insurance (Please feel free to share the common expenses, most relevant to the buyer)

Although the document fee is intended to cover the costs of registration, the authorities also calculate a registration fee.

The fee shall be paid for each document as litigation, and in essence it is about the joint and mortgage bond. The registration fee for the joint venture is 1548, while the mortgage bond is 1935. In total, it will be almost 3500 kroner.

The prices for condominiums are NOK 430 for the corresponding documents.

Ownership fee

If the apartment as a purchase belongs to a homeowner’s house, an owner’s fee will usually be paid to the business manager. It may vary from homeowner to homeowner.

Protection

When buying an apartment, the fire insurance is usually part of the common expenses. On the other hand, home insurance must be paid by the individual homeowner.

In our case, the sum insured is set at NOK 470,000 using the Financial Calculator’s Fellowship. Then we have provided the medium standard on the deposit.

The annual premium for such insurance will be around 1200 kroner.

Common expenses

The size of the common expenses varies greatly from home to housing, primarily because it is very different from what is added to the common expenses. In some cases, it is only municipal expenses and fire insurance, in other cases repayment of loans, heating, cable TV and internet.

improvement

Many homes are advertised with a wording as “big potential”. That simply means that renovations are required.

– We find that many people mistake this, both in terms of the use of their own time and what it costs. That means someone gets an unpleasant surprise, says Warloe.

Including expenses

At the Consumer Council, they are concerned with the situation in the housing market, and especially in relation to the young people, because they see that this group has a disproportionately high debt burden.

– We therefore wish that the pricing in the ads is inclusive of a document fee, because this creates more transparency, says the Consumer Director of the Consumer Council, Torgeir Øines, to click. no.

– We also find that banks have been more adept at adjusting the loan size in relation to customers’ ability to pay, but there are still many young people living marginally because they have to go a long way in a home purchase.

Broker Fee

In a housing transaction, the seller pays the broker’s fees and expenses for advertising. But if you sell a home before buying a new one, you have to bear both the sales expenses and the document fee. And it can soon be closer to 150,000 in total.

Also read:

This should follow when buying a home

How to win the bid round

Find the recovery ideas in our inspiration guide

How to make doubts together

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