Buying a house or an apartment in Stockholm

Have you ever thought of buying a house or an apartment in Stockholm or Sweden?

Let us see what are the different parameters to be considered before buying!!
* Find your loan amount eligibility : This is the key factor to be found first to decide how much will be your house value that you are going to purchase.
You need to call your personal banker (if you have) or call loan department of your bank and ask them to provide you lånelöfte, it's also called as loan promise or Pre-approved loan.
This amount will be dependent majorly on following details but it might vary from bank to bank.
1. Monthly Income before tax
2. Applying sole or along with spouse (or co-applicant) as this will change Monthly Income!
3. Number of children and their age
4. Age of applicant
5. Employment Type (Self employed, part time or full time etc)
6. Loan history

Let us assume bank would come back to you with a loan promise of 3,000,000 (3 million SEK).
How long loan promise will be valid? Usually, it will be valid for 6 months from the date of issue.
How much cash do I need to have in hand to purchase? Usually, you should have minimum of 15% of loan amount, which means you should have 15% of 3 million = 4,50,000 SEK.
Are there any charges by Bank to calculate lånelöfte (or loan promise)? Usually, it's free but check with bank while applying for the same.

Check a Hypothetical Scenario Here (This is only an example for reference, check all 3 worksheets)

Where to find the available houses for sales?
Hemnet is the default site most buyers and sellers use.
It has search filters like Number of rooms, Area (in Sq Meter), House Type, Locality, Highest price.
You can also visit Real Estate Agent's websites such as Fastighetsbyran

What's Avgift? It's a monthly maintenance amount paid to Housing Association towards cleaning, community laundry, garbage collection, lift, common areas and any other facilities provided by them.

What are the other parameters to be considered while buying home?

• Read Association annual report
• Any upcoming projects in that area like new metro or any development projects coming up etc
• Community Laundry and how far/near from the flat you are going to buy. or Do you have own laundry or facility to set-up own laundry. Quite important factor during winter :-)
• Balcony is covered or not.
• How recently the house was renovated (if not renovated think about renovation cost!!!!)
• Furniture costs (or all set-up costs as empty house will be given by the owner in general)

What are the advantages of having own house in Stockholm?

• No need to move around houses frequently especially considering short term rentals in Stockholm
• Profit (if house value goes up!!!!!!!)
• Feeling of having own house and customization or decoration as you wish
• Searching for the schools for kids near by that area and no need to change frequently

What are the disadvantages of having own house in Stockholm?

• Loss (if house value goes down, unfortunately this is the trend currently in Stockholm)
• Might think so much if you have to travel distant areas for job or for schools for kids
• Incur house maintenance/repair or renovation expenses

If you are planning to rent a house or an apartment
Then click here - Rent-apartment-or-house-in-Stockholm