Many homebuyers often find that, in the hunt for their dream house, they have to compromise. In particular, it's the house's location that gets changed. But it doesn't have to be that way. In this article, we explain how many homebuyers can realise their dream house without compromising on their dream location, by renovating their way to exactly the right home.
Danish homebuyers often find that the hunt for a dream house in the perfect location remains just that — a dream. If the house has to be in good condition with the ideal floor plan and also have exactly the right location, the price quickly rises, and as a buyer you have to compromise somewhere. However, it doesn't have to be that way.
In many cases, the right solution can be to prioritise the dream location most highly and buy a house that is in somewhat worse condition, or one that will eventually lack space.
This advice comes from the principle that the one thing you cannot renovate your way out of is a bad location.
A fixer-upper can often be a good investment. If you're up for living amid building mess and temporary solutions for a few months, or if you can hold on to your current home in the meantime, the renovation project can in many cases prove to be a good investment. You can read more about loan advice here.
Fortune favours the bold — and that's true in the property market too. Some of the biggest value increases in the market go to the families who renovate the old house, build an extension, or otherwise increase a home's herlighedsværdi (amenity value) — especially in the capital region, where the price per square metre is highest.
The ideal location is always evolving
Another important thing to keep in mind as a homebuyer is that our cities are constantly changing. This is also true of the Capital Region, which is rapidly developing and expanding. Just think of Tivoli, which once lay outside the city walls — today it is right in the centre. If you move your search one train station further from the centre of Copenhagen, there are often significant savings to be had. And as Copenhagen and its surrounding areas continue to develop, the home will become more centrally located over the years.
In short: here at Bomae buyer advisory, we live to help make your home dream a reality, and that's why we're not fans of compromise. We start by looking at your vision of a dream home and help you, among other things, search the market, review potential purchases together with a building surveyor, and work through the financial considerations tied to buying a house and any renovation.
