Therefore it is smart to take a price assessment now.
The housing market in Norway is record high at the moment.
Rising house prices mean that your home has increased significantly in value over the last few years, thus giving you better conditions on the loan.
Therefore, it’s a good idea to take a valuation now.
Lower interest rate
Only this year, the price level is 9.3 per cent higher than a year ago, according to figures from the Norwegian Property Brokerage Association (NEF).
Highest price growth is found in the apartment segment. Here prices are 10.2 per cent higher than one year ago. Homeowners in Saupstad, Heimdal or Sandnes have had the strongest price growth so far this year, by 12 per cent.
Keep track of developments
Many banks offer their best borrowing rates within 75 percent of the value of the property. It is therefore this limit that it is important to come within
– It is always advisable to keep track of the mortgage ratio, ie loans as a percentage of the value of the property, says information manager Aud-Helen Rasmussen in DnB NOR to Bonytt.no
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– If it is in an area that has risen a lot or you have refurbished, there is an additional good reason to keep up with it, she says.
But most people can take it easy. For example, in Norway’s largest bank, DnB NOR, 82 per cent of all customers are within 75 per cent, thus providing the best mortgage rate.
Similar figures can be found at the Swedish bank Nordea.
But if you do not have the best conditions, a new valuation may be helpful. In October 2008, for example, prices were per square meters on average for all types of homes in Norway NOK 24,200.
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Today, three years later, the square meter price is 27,700 kroner.
The broker’s valuation is based on the price terms in the area, default, upgrades, and other conditions that affect the price.
And can thus be used as documentation on loans or as a basis for what the home is worth.
However, a broker assessment is not free.
According to Norway’s Real Estate Brokerage Association (NEF), the price will vary from brokerage office to brokerage office, depending on where you live in the country, but the price must be below the threshold. But then, a valuation of broker is far more superficial than a taxpayer can provide.
– A valuation in connection with refinancing makes the fewest brokers free, “says Christian Dreyer, chairman of the Norwegian Real Estate Broker. However, in the case of home sales, a large number of brokers will make it free, he adds.
Check the competence
Do you really afford the house?
If your bank does not accept broker’s valuation, but requires a price, the price will vary according to whether it is a small apartment or large house.
The price for a tariff is approx. 3000 to 4000 kroner.
To check which taxpayers have approved formal competence in your municipality, please visit nitotakst.no or ntf.no.
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