(edit title) Average age for first-time property buyers What is it for a Swedish citizen? Options

[JLondon]

What is the average age for a swedish citzen to buy their first property in Sweden?

[Solith]

28-30 maybe. I know a guy here who bought his quite young though, maybe around 25,

I think Uppsala is a slightly different case though, as rentals are such a pain to get that a lot of people buy as soon as they can and something they like is available.

[007]

what percentage of swedes buy?

[Johno]

My observations are not always right, but a comment related to what kind of property. There seems to be little rented accommodation other than a few flats in many places. So if you want a villa of any size you would have to buy.

[Rick Methven]

But young people want to live in the town/city where they can rent. My 26 yr old son got a flat in the city because he did not want to live "Ut på Landet"

We are just 10km from the City

[Opalnera]

The rules of bostads in Sweden make it extremely difficult for people to have investment properties. For instance, in our apartment block, the idea is that everyone who lives here owns their apartment. So you can only rent out your apartment for 1 year after that you are expected to sell it if you don't come back to live here. So while I think many Swedes would have enough equity to buy an investment property in a city that they could rent out, it is only companies who buy entire blocks of apartments.

Well anyway, my sambo was 26 when he bought our apartment in Uppsala.

[MorisT]

And do people prefer to buy apartments in big cities or in the country side?? what the difference between the prizes??Thanks

[Abe L]

These days you need to be able to put down a significant sack of cash when you buy something. You often need to make a 15% downpayment and pay some taxes on the purchase of the property, which adds up to about 200.000 SEK for a 1 million SEK house/appartment. Around the bigger cities you will not find any decent property under 3 million, meaning a 600.000SEK downpayment. Which takes a considerable amount of time to save up, even if you spend most of your disposable income on savings.

Then in the event of buying an apartment or house that's part of bostadsrätt there's the monthly payment you make to the house-owners organization, that can range anywhere between 3000-10000 SEK /month on top of the mortgage.

If you don't have a family or company with sufficient financial resources backing you, it's pretty hard to purchase something at a young age. It's also uncommon to buy property as an investment in Sweden, there is to much regulation and other kind of constructions in the way of making that sufficiently profitable. Very bad.

When I lived and worked in Sweden most colleagues rented apartments in the city, which I really could not understand as you build up no assets whatsoever that way. You just throw away money every month by paying rent.

[Tessgbg]

25-35 I would say. People are done with their education/got a decent enough work often somewhere around the age 25-30, then they work/try to work and property comes after that when they have gotten themselves a stable economy.

Not all buy either, a lot of people my age just rent.

[007]

These days you need to be able to put down a significant sack of cash when you buy something. You often need to make a 15% downpayment and pay some taxes on the purchase of th ... (show full quote)

These days you need to be able to put down a significant sack of cash when you buy something. You often need to make a 15% downpayment and pay some taxes on the purchase of the property, which adds up to about 200.000 SEK for a 1 million SEK house/appartment. Around the bigger cities you will not find any decent property under 3 million, meaning a 600.000SEK downpayment. Which takes a considerable amount of time to save up, even if you spend most of your disposable income on savings. ... (hide full quote)

i would imagine the lion's share of first time buyers in sweden are single. that means they're happy with a studio (1rok). there are not additional fees to be paid buying a BR beyond the down payment 15-30% (depending on your relationship to your bank.)

i plugged in stockholm county into hemnet.se and there are a fair number of studios within a 20-50min commute for under 500,000 and heaps under 750,000. they might not appeal to everyone's 1st choices, but for many people in their 20s needing a place, they might be better options than subletting.

[Boar]

I want to buy an apartment in Stockholm for 500.000 sek to 750.000 sek. Doesn't matter even if I stay 30 kilometres away from the centre. Where should I start digging from?
-Boar

[007]

www.hemnet.se

[Boar]

Tack 007 Is it the same for villa too?

[jamesblish]

If you don't have a family or company with sufficient financial resources backing you, it's pretty hard to purchase something at a young age. It's also uncommon to ... (show full quote)

If you don't have a family or company with sufficient financial resources backing you, it's pretty hard to purchase something at a young age. It's also uncommon to buy property as an investment in Sweden, there is to much regulation and other kind of constructions in the way of making that sufficiently profitable. Very bad.

When I lived and worked in Sweden most colleagues rented apartments in the city, which I really could not understand as you build up no assets whatsoever that way. You just throw away money every month by paying rent. ... (hide full quote)

Well, they changed it because what happened was young people (and people in general) bought things they really couldn't afford, and only paid the interest. Never paid off on their loans. It's only reasonable to demand a certain amount of cash up front. As far as "throwing away money", well, that's kind of what rent is all about. Advantage is you don't have to take a loan that'll take the rest of your life to pay off, and you can sleep well at night, even if the economy is shakey. I would never buy property unless I could pay in cash. I hate loans.

[Boar]

Also, is there any service the banks do? Like selling Villas or apartments. So that I can pay through my salary?