Expert: These Are Three Main Recommendations for Home Buyers This Fall Season

Just as seasons change in nature, the real estate market also has its seasonal trends that home buyers should familiarize themselves with at the beginning of autumn, says 1Partner Real Estate analyst Elia Vääri.

According to Elia Vääri, this autumn the Tallinn apartment market will likely have the best selection in years. "The market has been calm throughout the entire previous autumn-winter period, so there is a selection in every segment today. However, the last few months have clearly been more active. So it's worth restarting your home search immediately after returning from vacation, as this kind of situation may not last long," gives 1Partner's analyst their assessment of the coming autumn. According to Elia Vääri, probably no one can accurately predict today which type of property will first become scarce, but it is quite certain that the growing market activity will soon reduce the selection.

The second concrete recommendation is to buy exactly as much as you really need. "Prices have not dropped significantly and probably won't. So, if you're not a millionaire, then every home buyer should carefully consider how many rooms and square meters you really need in a new home. Looking at today's prices, every so-called unnecessary square meter increases your mortgage by several thousand euros," explains Vääri and reminds us not to forget indirect costs, such as transportation or various renovation work in the case of older buildings.

Third, according to Vääri, one must certainly not forget the fact that it is still more beneficial to buy than to rent. "Even at today's prices, a loan payment is usually smaller than the rental amount for a comparable apartment. Even if the order of magnitude is the same, with your own home you reduce your loan balance every month and thus accumulate capital over time," points out Vääri and reminds us that in the long term, real estate prices always increase.