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Search for housing. Acquisition or rent

Search for housing. Acquisition or rent

Search for a new housing is a difficult and responsible task for any person. In course of selection of a new housing, one must take into account the own needs and to analyze them thoroughly, to decide what part of the city is preferable for him(her), what area of housing should be optimum and so on. One of the most important steps will be a serious assessment of the own financial capacities at present and in future.

In Lithuania, search for housing may be carried out through real estate agencies involved in mediation services related to sale or rent. The other opportunity is conclusion of real estate (a house or a flat) transactions (on sale or rent) directly with the sellers. The most convenient way is using of websites for rental and for-sale housing. In Republic of Lithuania, the most popular websites are www.aruodas.lt, www.domo.plius.lt, and www.skelbiu.lt bei www.alio.lt .

The rent or the purchase price of housing depends on a number of different factors, such as the chosen residential area, the area of the house (flat), its equipment, the year of construction and other circumstances. In largest towns of Lithuania, the rent for a flat varies on the average from 5.4 EUR/ sq m to 8 EUR/ sq m. For example, in Vilnius, a monthly rent for one-room flat amounts on the average to 200-270 EUR, for two-room flat – on the average to 350-390 EUR. It was found that fluctuations of rents are particularly striking during summer months. With regards to acquisition of housing, the average price of a two-room flat in largest towns of Lithuania varies between 52’000 EUR and 76’000 EUR.

It should be mentioned that if real estate agencies are involved in mediation services related to sale or rent, the client, in addition to all payments arising from the sale or rental contract, shall pay a mediation fee to the agency. If a rental or sale contract is concluded directly with the seller or the renter), no mediation fee is payable, so the expenses of search for housing become less.

In case of acquisition of real estate (a house or a flat), the transaction shall be notarized according to the procedure provided in laws of Republic of Lithuania. The involved notary public, as a person authorized by the state, shall, in course of execution of the entrusted functions, verify a legitimacy of such transaction, clear up the wills of the parties and establish the legal validity of the transaction. In case of sale, the buyer and the seller may sign in the beginning a preliminary sale contract where they agree on the principal terms of the transaction and then sign the final sale contract. It should be mentioned that a housing sale contract shall be notarized in any case.