Buying property in Norway
Buying a cabin plot in Norway as a foreigner may seem daunting, but it is possible with a little guidance and understanding of the process. Norway is known for its stunning nature and landscape, which makes the country attractive to those looking to invest in a cabin or holiday home. In this article, we'll guide you through the process and give you an insight into what it's like to buy a cabin plot if you're not a Norwegian citizen.
It's important to first research the different geographical areas and property types that exist in Norway. This can include mountain cabins, sea cabins and forest cabins, each with their own unique charm and appeal. The laws in Norway allow foreigners to buy property in the country, but there are certain restrictions and rules to follow. It's important to be aware of the taxes, fees and regulations associated with buying a cabin plot.
Financing options and loan terms
When you want to buy a cabin in Norway as a foreigner, it is important to understand the different financing options and loan terms. This includes loans, debt, financing certificates, equity and collateral.
To be able to trade, you usually need a certain amount of equity. Equity is the amount that is not covered by a loan and represents the difference between the purchase price and the loan amount. The minimum equity requirement is usually 15% of the purchase price, but some banks may require more.
Norwegian banks require collateral when granting loans to cabin buyers. This means that the borrower must provide real estate or some other form of value as security for the loan. When it comes to financing, a financing certificate from the bank is useful to have. This confirms how much you can borrow and provides security for both you as a buyer and the seller of the cabin plot.
Security and equity
It is also important to keep track of your income and documentation to prove the bank's ability to pay. Income can affect how much you get in loans and what loan terms you are offered.
In some cases, you may also need to consider statutory conditions, such as the obligation to reside in the property and leasehold fees in housing cooperatives. Depending on the purchase price and financial circumstances, this may affect how much you have to pay in addition to the loan.
Ølsjølitoppen Valdres | Cabin sites 1000 m above sea level
Buying process and legal aspects
When you want to buy a cabin in Norway as a foreigner, it is important to first decide whether you want a cabin in the mountains or by the sea. Mountain cabins can provide access to good hiking opportunities and ski resorts in winter, while seaside cabins provide access to boating, fishing and swimming opportunities.
For foreign citizens wishing to buy a plot of land in Norway, it is important to be aware of a number of legal aspects. Firstly, it is recommended that you use a Norwegian real estate agent to help you with paperwork and permits during the purchase process. We can help you find suitable plots, while also contributing our experience and knowledge of Norwegian laws and regulations to ensure a safe and smooth transaction.
Along the way, local authorities and consumer councils may also need to be contacted to understand any local restrictions or zoning plans that may affect the cabin purchase. For foreign nationals wishing to buy a cabin plot in Norway, there are often no special restrictions, but permission from local authorities is required, especially outside the EEA. Most Norwegian banks offer home and cabin loans to foreign citizens, but the terms may vary.
Maintenance and home insurance
First and foremost, we recommend that you consider the location carefully. Factors such as sun, water, snow and access to electricity should be taken into account. Feel free to examine the site at different times of the year to get an idea of how conditions change with the seasons.
When buying a cabin in Norway, you must be prepared to cover various costs. It is a good idea to draw up an overview of the costs associated with the purchase of a cabin in order to keep your expenses under control. Maintenance of the cabin is also an important cost to consider. Roofs, windows and fireplaces are some of the elements that require attention on a regular basis.
Home insurance is also a key element when buying a cabin. Make sure to set aside money for this and research different insurance companies to find the best insurance package for your cabin.
Ready-to-build cabin plots
We have ready-to-build cabin plots for sale and our cabin suppliers are ready to build your dream cabin according to your wishes. The price of the cabin plots varies somewhat depending on size and location, but all are above 1000moh and range from 1000 to 1500 sqm.
A connection fee to Etnedal municipality for public water and sewerage is mandatory and must be included. Up to three buildings may be built on the plots - a cabin, annex and outbuilding/garage. All buildings must have exterior dark and matte earth tones of wood or natural stone, and permitted roofing is shingle, turf, wood or slate. We can put the buyer of a plot of land in touch with the right cabin supplier.
The plots face southwest and have great views and plenty of sunshine. Here you can sit out in the sun or walk straight into the ski slopes and hiking terrain that surrounds the cabin area. There is a year-round road to the plots with access and parking on your own property with two car parking spaces totaling 36m2. Necessary infrastructure such as roads, water, sewage, electricity and broadband pipes have been installed up to the plot boundary.
