Buying a house or an apartment in Helsinki

Apartments in Helsinki can be expensive, but it is usually worth it especially if you plan to own it for a long time. Prices of houses have been climbing steadily, so it is a wise investment, if you can afford it. Competition is high and money talks, so when you are a looking to buy it is good to be prepared so you can make an offer as soon as possible.

Get prepared to buy an apartment in Helsinki

  1. Make a list of your requirement’s
    Location (downtown, suburb?), Size(1-2-3 bedroom?), Type (house, apartment, attached house?) are things you need to choose before you set your goals into a house. Other things to consider is the condition of the house and upcoming renovations.
  2. Find out your budget
    Contact your bank and give them all the information of your salaries, savings, insurances and possessions to get an estimation of how expensive house you can afford
  3. Shortlist and watchlist for houses that could work for you
    Make an account in and and make a watch list so that when suitable apartments come available, you will be notified. For those already available, choose which you are interested and take actual step into checking them out by contacting the owner or real estate agent
  4. Save money or present collateral for loan downpayment
    To get a promised loan that let’s you actually bid on a house, you need to provide the bank proof of funds (usually 20% of the house value) or collateral (parents house) so they can promise you the loan and you can bid.

The process usually goes through communication with the sellers real estate agent and your bank. It is wise to price check all banks and offer a deal to the agent that is less than the asking price of the house owner.

Leave an offer
Leaving an offer on a house usually requires doing so by writing and committing to a fee that you have to pay if you withdraw your offer. Depending on the deadline and bidding system, house seller will compare offers and communicate their wisher through the agent.
When everything is settled and agreed on, the buyers, sellers, agents and bank representative will sit down to transfer ownership and finish contracts.

Good luck and happy hunting! With the low interest rates and rising value, buying a house is almost always worth it, especially downtown Helsinki.

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