It can be difficult to get an overview of the figures in a listing (salgsopstilling). That is why I have made a guide on how you can easily understand and compare the expenses of the homes you are interested in.
Get a quick overview of the expenses below.
What is an ejerudgift (owner's expense)? The concept of ejerudgift was introduced into the Act on the Sale of Real Property in 2015.
At that time, it became a requirement to disclose the total monthly ejerudgift (owner's expense) associated with owning the property.
Read more about what an ejerudgift is - what it covers
Get an overview from the listing You can quickly get an overview of the owner's expenses if you look at the front page of the listing.
This shows the amount of fixed expenses, calculated per month. You can find a more detailed description of the breakdown of the expense on page 4.
Remember there can be a big difference in the owner's expense following the new property assessments (ejendomsvurderinger) — this can make a significant difference for some buyers.
If you are a first-time buyer, it is important to familiarise yourself with the various expenses that come with buying a home.
Consumption expenses Here you should pay particular attention to the fact that, as a starting point, only the heating expense is shown in the sales material, and therefore you must be aware that expenses for water, electricity, TV, and internet must be added.
The expense for heating and the estimated consumption from the energy label (alternatively the seller's most recent consumption) is stated on page 3 of the listing.
Cash requirement when buying Remember to glance at the cash requirement when buying — there can be several costs to your home purchase that are not included in the purchase price.
This is, for example, the expense for:
- The tinglysningsafgift (land registration fee).
- Processing and insurance costs.
- Any debt to a shared loan (fælleslån).
Don't lose heart if you come across an overwhelming expense for financing the home on page 4. There can be many ways to structure the financing so that the best solution can be found for you and your finances.
If you want more input on exactly what your financing could look like, you can contact our skilled financial advisors.
Financing costs Financing costs naturally depend a great deal on your finances and the home you are buying.
However, a standard financing example is stated on page 4 of the listing.
The standard financing is a tool used to give insight into what it costs to finance the property in question, including making it possible to compare the financing costs with a potential alternative property. However, you should be aware that the standard financing is determined by law (the Act on the Sale of Real Property, LOFE), and is far from the best financing for all home buyers.
The standard financing is the cash price less the down payment, which amounts to 5% of the purchase price rounded up to the nearest 5,000. The standard financing is split between an 80% mortgage loan and the remaining 15% bank loan – both over 30 years and fixed-rate.
Since the estate agent is not allowed to advise further on the financing of your home, and it can be difficult to get a quick clarification from your bank, our financial advisors are ready to help you further from here.
