Denmark’s number of first-time house buyers has set a record and is now higher than before the 2007 financial crisis. Statistics Denmark recorded 59,572 first-time buyers in 2007 and 62,500 in 2018. High employment, years of economic growth, and low-interest rates are the main drivers of this commercial activity.
The number of first-time buyers dropped to 36,000 in 2009, but the number is picking up again. However, today’s first-time buyers are slightly older than those who purchased homes during the 2007 housing boom. The average age of first-time buyers today is 35.3 years old, while it was 33.9 in 2007.
Buying a house in Denmark is usually a smooth process due to the co-operation of all parties involved and the country’s complex legal regulations. First-time buyers can either visit real estate agencies or browse dedicated websites. Bolex.dk, a Danish web portal for homeowners, is dedicated to sharing information and guides about building and renovating houses.
A lot of elements affect house prices in the country, and one of these is the location. Houses in urban areas such as Odense, Hillerød, Roskilde, Aalborg, and Aarhus are expensive. The condition of the property also affects its price. First-time buyers also need to consider the sun’s path when looking for a house. They can use the overexposure or lack of light to get a discount from the seller. Another element that affects the price of houses in Denmark is the property’s layout. A house with a well-planned and practical layout will be expensive.
Buying a house is considered a safe choice for investors, but they still need to apply for a loan in order to make the purchase. Banks measure the buyer’s DTI or debt-to-income ratio before giving a loan or mortgage. The DTI ratio measures the buyer’s capability to repay the amount they borrowed. A high DTI means that the borrower’s debt is higher than his income. A low DTI, on the other hand, means that the borrower’s debt and income ratio is good.
First-time buyers should hire a lawyer when buying a house. They also need to consider the registration fee in the Danish Land Register. There are various types of establishment costs, as well. First-time buyers can avoid wasting money by educating themselves about the housing market in Denmark.
Bolex.dk was established to provide Danish homeowners with free information about anything related to houses in the country. Lennart Øster established the website to impart his knowledge about buying a home in Denmark.
Bolex.dk has become bigger than he expected, and now, it is composed of professionals who are willing to give free advice about the housing market in the country. The website is continuously growing with new disciplines in order to serve Danish homeowners better.