Purchasing your own home can be the most practical move you’ll ever make. However, the location of the house can be one of the hardest decisions since you will have to live there for the rest of your life. Based on tmcnet news, owning a home in Finland is definitely a smart move and here are the top three reasons why.

• Cost of Lands

Besides a low cost of living, there are many lands on Finland that sell for a low price. The current average selling price of a residential lot in the country costs about 2500 dollars per square meter. However, in some urban parts of the country, a square meter piece of land costs about 4000 dollars. These prices have already significantly improved from the previous year. As a matter of fact, the average cost of a home increased by 1.2% according to the tmcnet news.

• Interest Rates

Of course, availing home loans will greatly depend on the interest rates. Purchasing a home in Finland is a good idea since interest rates in the country are at their lowest for the past years. The average interest rate of the country dropped from 2.5% to 1.2% which indicates that the country’s economy has a good status. These lower interest rates have persuaded more and more people to apply for home loans in the country. Owning a home in Finland can also have tax benefits. After 24 months of living in the house, any capital gain will be exempted from tax.

• Application for Home Loans

A home loan application will be an easy task especially if you’re a resident in the country. There are various banks in Finland that offer home loans for different interest rates and payment period. However, there will be no best option for banks since the selection will greatly depend on the person’s preferences and his/her capabilities to pay.