Before you move

Read our guide for first-time home buyers – Step 5

Insure yourself and your home

Whether you are moving to a rental or a home you now own, we recommend you acquire some additional security to your everyday life. A break-in, a fire damage or an accident is never a pleasant surprise. Your life can also come to a stop because of a serious illness or unemployment. Even the most difficult matters can be settled easier if your insurance policies are in order.

Get a home insurance even if you rent

Household appliances, computers, furniture, musical instruments, jewellery...when you start adding up the contents of your home, you may be surprised by the final sums. The housing company’s insurance covers most damage to the structures, but the movable property is always your responsibility, irrespective whether the home is your own or rented. Most home insurance policies also give you the possibility of compensation for goods stolen while travelling. Ask more about home insurance from If.

Calculate the price of your insurance with If's insurance calculatorOpens new window.

Remember to secure what is most valuable

In addition to securing the movable property of your home, do not forget to check that your personal insurance cover is in order. You can always replace household appliances and furniture, but if something serious should happen to you, your everyday life and finances may be shattered for good. If you face an unpleasant surprise in the form of unemployment or a serious illness, you can get financial support to your everyday life from personal insurance cover. People with a family in particular should also take out life insurance as supplementary cover.

Read about Nordea Personal Life CoverOpens new window (in Finnish) and contact us for further information.

Do you want to make renovations?

If you are not a do-it-yourself person, it is easiest to buy a home which has already been renovated. You can do small surface fixing yourself, but larger renovations, like expansion of your bathroom, for example, require professional skill, time and money. People often underestimate the price of a renovation, so put a little extra on top of your budget. Surprises are always possible. Remember to ask for a permission for the renovation in advance from the housing manager of your housing company when you intend to do more than change the wall paper or do a bit of painting.

Ask offers from more than one contractors

If you decide to buy a home that requires renovation, ask offers from a couple of home renovation contractors. Consult a construction specialist and draw up one offer request with each working phase itemised and send it to all the contractors. This way you will receive comparable offers. Draw up a written contract and use a supervisor during the renovation who will see to it that all the different project phases are completed properly and as agreed.  

Renovation loan from Nordea

Agree separately on a renovation loan in connection with your housing loan negotiations. If you are only doing small fixing of your home, you can take a few amortisation-free months in the beginning of the loan period. Ask Nordea about FlexiPayment.
With the help of FlexiPayment you can increase or decrease the monthly instalment of your loan and pay only interest and costs.

Make use of the household tax relief

If you are only having a small renovation made, make use of the household tax relief. In practice, when you pay the contractor, the tax authority will credit to you part of the wages paid or of the home renovation contractor’s invoices. Note that you will get the tax relief for the work conducted, not for the materials, and only up to a certain sum. The amount and instructions of the household tax relief may vary from year to year. Check the tax authority's website at vero.fiOpens new window for the most recent instructions.

Mover’s check list. What if you find faults in your new home afterwards?

Ask us about buying your first home

Call Nordea’s Customer Service

0200 70 000

Go through the steps of the buyer's guide