decisions in life
We make your decision as simple and safe as possible
Our aim is to make buying a Newil&Bau Home as easy, smooth and simple as possible. Buying your own home is one of the biggest decisions in life and a significant investment. We want you to have all the information you need and a clear image of what you are buying. We want you to feel confident that when you buy a N&B Home, it corresponds to the idea we sold to you.
Of course, buying your own home raises questions. Therefore, we want to support you throughout the journey and help you progress from one step to the next effortlessly. If you cannot find an answer to a question you have about a building or reservation, you can send our customer service a message at firstname.lastname@example.org. Here is a list of frequently asked questions and their answers.
New apartment sales and the RS system
The planning and construction of apartments is governed by the Finnish legislation and regulations. The overall sales are controlled by the Housing Transactions Act. According to the Housing Transactions Act, the buyer of the apartment is during the construction phase protected by the RS system (RS = recommended by an advisory board of financial institutions).
The builder of the apartments purchases insurance that is pursuant to the Housing Transactions Act and which protects the buyer during the construction. The insurance is released only after the possible defects recognised during the annual inspection have been repaired.
Additionally, the buyer is also protected by the developer’s ten-year-long responsibility for defects. The resident is also protected by security documents such as the housing company’s financial plan, articles of incorporation, and report of the method of construction.
The security documents are kept in the building’s designed RS bank or the Government Office (AVI) to safeguard the interests of the purchaser of the housing share during the construction phase. Before the sale, you may read through the security documents and they are also attached to the deeds of sale.
More information about buying a new apartment is available in the buyer’s guide by the Confederation of Finnish Construction Industries RT.
The stages of buying an N&B Home
1. JOINING THE N&B FAMILY
N&B Family is not only a fast lane to new N&B Homes but also a community that influences future locations, buildings and our services. When you join N&B Family, you get the keys for planning your own home in the early stages. As a member of N&B Family, you are the first one to hear about our new projects and get to reserve apartments before others. You can join Family here: newilbau.fi/family/
2. VISIT THE BUILDING’S WEB PAGE TO GET TO KNOW YOUR N&B HOME
Once public advance marketing has started, all marketing material will be available on the building’s own web page.
3. PLANNING AND RESERVING YOUR OWN APARTMENT
You reserve an N&B Home by using the interior design selector on the building’s web page. You can make the decisions regarding interior design immediately or later at a better time. From each holder of a first spot in a reservation queue is collected a reservation fee of EUR 2,000. You pay the fee by providing your online banking password when making the reservation. When you have the first spot in the reservation queue, you are already on your way to becoming the owner of a new home.
4. A NEW HOME WITH A MONTHLY PAYMENT SUITABLE FOR YOU
We offer all of our customers the opportunity to N&B Financing which is a simple and affordable way of financing the N&B Home and enables tailored solution that suits you. N&B Financing has better terms and conditions than a traditional mortgage.
5. SELLING YOUR CURRENT APARTMENT
If you need to sell your current apartment before moving into your new N&B Home, we and our cooperation partners can provide you with a safe solution for selling your current home and an attractive brokerage quote.
6. EFFORTLESS HOME SALES
Dealing for a new apartment begins once the security documents have been set. The buyers get the deeds of sale and the attached RS documents which are delivered to the buyers for a perusal a few weeks before the deal is finalised. When the deal is being finalised, to your email address will be sent the deed of sale and a signing link you sign with your online banking password. After the deal has been finalised, you pay the first installment pursuant to the payment schedule. You pay the selling price as the project progresses. The capital transfer tax (2% of the debt-free selling price) is paid two months after the transfer of ownership. The ownership over your own home is transferred to you when the final installment of the selling price has been paid. An example of an installment schedule is available here.
7. MAKING DECISIONS ON INTERIOR DESIGN AND POSSIBLE ADDITIONAL WORK
If you change your mind, you can, after the deal has been finalised, change the interior design selections you made during the reservation phase. You can confirm your selections when you are certain of your favourites. If you also want to commission additional work, you can plan them with our interior designer in accordance with the working instructions after the deal has been finalised. Working instructions for additional work are available at newilbau.fi/en/additional-alteration-work/
8. BUYERS’ MEETING
When a quarter of the apartments have been sold, a meeting of the purchasers of shares will be convened. In the meeting you get to meet your future neighbours! You also get to hear how the construction is progressing. In the meeting, buyers can also, if they want, select a construction monitor and/or auditor as their representative. However, the N&B quality control already includes hiring an independent supervisor. We send emails about the site to the buyers about once a month, starting from the finalisation of the deal.
Read more about quality control here.
9. PREPARING FOR THE MOVE
About 1–2 months before the completion of your apartment, you will be sent a move letter in which we confirm the date your new N&B Home will be completed and when you will be given the keys to the apartment. The letter will also include other important information about your new home and the move, so remember to read through it carefully.
10. FIRST INSPECTION AND THE MOVE
Before the move you will get the opportunity to inspect your apartment. The first inspection is an opportunity for you to report all possible defects so that repairing them can be agreed on before the move. When you step into your own home, you will find an N&B Home file with which you can learn more about your apartment and the housing cooperative.
11. HAND-OVER MEETING
The meeting is held about three months after the housing cooperative’s buildings have been completed. In the meeting, the housing cooperative is handed over to the building co-owners, the cooperative’s interim financial statements are presented, and the housing cooperative’s board is selected. This meeting is another chance to meet your new neighbours!
12. ANNUAL INSPECTION
The building’s annual inspection is held within 15 months after the move (the date the deployment of the building was accepted). In connection to the annual inspection, the defects reported by the co-owners will be repaired. We wish you many happy moments in your new home!