Renting a Home

The rental of properties in Norway is regulated by the "Act on Leases" also known as the "Lease Act." It is advantageous to familiarize oneself with their rights when renting a home to avoid conflicts and misunderstandings. The most crucial aspect is to have a lease agreement that specifies the rent amount, what is included in the rent, notice period, and arrangements for the deposit.

The Consumer Council (Forbrukerrådet) has developed a guide on important factors to consider when renting a home

Read more about the Tenancy act

Finding a Rental Home

 In Norway, both private individuals and professional landlords have the opportunity to offer properties for rent. The methods for finding available rental homes vary, from searching through newspaper advertisements to asking acquaintances or using online platforms such as Facebook or Finn.no. Regardless of the type of rental property chosen or the platform used, it is always essential to have a written lease agreement that outlines the rights and obligations of both parties.

Facebook group for private rental market in Tromsø

Finn.no is used by both professional and private landlords

Buying a Home

To apply for a bank loan in Norway, banks recommend waiting for at least six months. You must have an income for at least six months, and allow the bank access to your bank and tax records to check your creditworthiness. The bank will assess your income, debt, and bills to determine if you qualify for a loan. Savings from your home country do not count unless transferred to Norway.

The bank will also look at the relationship between your income and the property's price that you want to buy. Generally, the property price should be 3-5 times your salary. You should also be prepared to pay 15% of the purchase price for the house upfront. Typically, the bank will only lend up to 85% of the purchase price.

At the same time, banks can be flexible when deciding on the loan amount, so it is best to speak with the bank to avoid disappointment.

You can get more information about the loan amount, interest rates, and other relevant details from the bank you choose.

Find out which banks offer the lowest interest rates

Several actors have provided excellent overviews of what you need to consider and be aware of before buying a home. They have also included useful tools to help you calculate how much loan you can apply for. Here are some of these overviews:

SpareBank 1

DnB

Husbanken

There are many websites used in Norway to search for homes for sale. Some of those that display properties for sale in Tromsø-region include:

Finn

Eiendomsmegler 1

DNB Eiendom

BoNord

Peab

Byggmester Tony (Karlsøy)