Held under the leadership of SEB last week, a meeting of real estate buyers and sellers confirmed that someone buying a new home today must both carefully consider their family’s actual needs and compare real estate offers that meet those needs before making a decision.
Often, a family will establish their borrowing capacity at the bank before even inspecting property for sale.
According to real estate companies, home seekers will make a more appropriate and speedier choice if real estate developers, brokers and the bank all cooperate for the benefit of the client.
“Whereas after the downturn in the economy families were more cautious in planning purchases of new homes and were likelier to postpone making big financial decisions, the past couple of years have seen a noticeable increase in interest in purchasing new homes that suit families better. Compared to the so-called boom era from 2005 to 2007, the hallmark of those interested in new homes today is their significantly higher awareness. They will no longer latch on to the first real estate offer that comes their way. Fairly careful consideration is given to actual needs and comparisons are made of apartments / private residences meeting those needs”, said Triin Messimas, Development Manager of Private Loans at SEB.
Jaanus Laugus, Chairman of the Management Board at the Uus Maa real estate agency: “Now is an excellent time to be making choices on the real estate market. The real estate market is full of interesting offers, whilst prices are still attractive but on the rise. Good offers find owners quickly. The construction quality of apartments completed at new developments has risen significantly, buildings are energy-efficient and their architecture has become more interesting.”
To simplify the selection of a new home, SEB is providing the Internet-based Home Chooser from this week. Start using Home Chooser by selecting suitable properties on the real estate sites www.city24.ee or www.kv.ee. In addition, you can enter asset information manually.
Then, you can add comparison criteria appropriate for you and assign them a certain value when it comes to every property. Based on such assessments by the user, the system will calculate for every apartment or house an aggregate rating, based on which hierarchy of rankings is produced. Additionally, the three most suitable potential homes can be subjected to a detailed comparison, based upon which a final decision can be reached.
Home Chooser also includes a map application for an accurate overview of properties’ locations and distances, say, from the workplace, kindergarten or school. You can use Home Chooser to calculate your family’s approximate borrowing capacity and the estimated loan payment amount on every property, providing you with a quick overview of your prospects for using a loan to finance your new home.