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Real Estate in Stykkisholmur, Iceland | Expat Exchange
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Real Estate in Stykkisholmur, Iceland

By Joshua Wood, LPC

Last updated on Jan 01, 2024

Summary: Expats and retirees talk about real estate in Stykkisholmur, Iceland? How do you find a home in Stykkisholmur? Should you buy or rent? What is the cost of housing?

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How do I find a place to live in Stykkisholmur?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Stykkisholmur, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a small apartment to a larger house, depending on your needs and financial situation. Next, you should start researching online. Websites like Airbnb, Booking.com, and Trivago can provide a good starting point for short-term rentals or vacation homes. For longer-term rentals or property purchases, you might want to check out real estate websites such as MBL.is or Visir.is, which list properties for sale or rent in Iceland. You can also use social media to your advantage. Facebook groups like "Away from Home: Living in Iceland" or "Expats in Iceland" often have members who share rental listings or can provide advice based on their own experiences. Another option is to contact a local real estate agent in Stykkisholmur. They will have a good understanding of the local market and can help you find a place that fits your needs and budget. If you're planning to move to Stykkisholmur for work, your employer may also be able to assist with finding accommodation, or at least point you in the right direction. Once you've found a potential place, make sure to visit it in person before making any commitments. This will give you a chance to check the condition of the property, its proximity to amenities, and get a feel for the neighborhood. Finally, once you've found the perfect place, make sure to read the rental agreement or sale contract carefully before signing. If you're not fluent in Icelandic, you might want to get a translation to ensure you fully understand the terms," said one expat in Stykkisholmur.

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What is a typical expat home or apartment like in Stykkisholmur?

"A typical expat home or apartment in Stykkisholmur, is often a cozy, modern space that blends contemporary design with traditional Icelandic elements. The homes are usually well-insulated to withstand the harsh Icelandic winters, with central heating and double-glazed windows. The interiors often feature open-plan living areas, with a living room, dining area, and kitchen all in one space. The kitchen is typically equipped with modern appliances, including a dishwasher and a large fridge. The bedrooms are usually modest in size, with comfortable beds and ample storage space. The bathrooms are typically modern and functional, often with heated floors for added comfort. Many homes also have a laundry room with a washer and dryer. The decor often reflects the natural beauty of Iceland, with muted colors, natural materials, and minimalist design. Large windows are common, allowing for plenty of natural light and stunning views of the surrounding landscape. Some homes may also have a small garden or patio area. In terms of location, many expat homes are situated close to the town center, within walking distance of shops, restaurants, and other amenities. Despite being in the town, the homes often have a peaceful, secluded feel, with the stunning Icelandic nature just a stone's throw away. While some expats choose to buy their own property, many opt to rent, particularly if they're only planning to stay in Iceland for a few years. Rental properties are usually fully furnished and equipped with everything an expat might need, from kitchenware to bed linens. Overall, a typical expat home in Stykkisholmur offers a comfortable, modern living space that's perfectly suited to the Icelandic climate and lifestyle," explained one expat living in Stykkisholmur, Iceland.

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What is the average cost of housing in Stykkisholmur?

If you are thinking about moving to Stykkisholmur, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Stykkisholmur can vary greatly depending on the type and size of the property. For instance, a small apartment or house in the town can cost around 20 million Icelandic Krona (ISK), which is approximately 160,000 US dollars. However, larger homes or those with a prime location can cost significantly more, with prices reaching up to 40 million ISK or around 320,000 US dollars. It's important to note that these are average prices and actual costs can fluctuate based on market conditions and other factors," said one expat who made the move to Stykkisholmur.

Should I buy or rent a home in Stykkisholmur?

If you have not spent a lot of time in Stykkisholmur, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Stykkisholmur, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Stykkisholmur for a long period, buying a home could be a good investment. Owning a home allows you to build equity over time and could provide financial stability in the long run. However, buying a home also comes with significant upfront costs, including a down payment, closing costs, and home inspection fees. You'll also be responsible for ongoing costs like property taxes, home insurance, and maintenance. If you're not ready for these financial commitments, or if you value flexibility and mobility, renting might be a better option for you. Renting a home in Stykkisholmur can offer more flexibility, especially if you're not sure how long you'll be staying. It's generally easier to move from a rental than it is to sell a home. Renting can also be more affordable in the short term, as it doesn't require a large down payment and the landlord is typically responsible for maintenance costs. However, renting doesn't build equity and rental rates can increase over time. You'll also have less control over your living space, as you'll need the landlord's permission to make any significant changes to the property. In conclusion, whether you should buy or rent a home in Stykkisholmur, Iceland, depends on your financial situation, how long you plan to stay, and your personal preferences. It's important to weigh the pros and cons of each option and consider seeking advice from a financial advisor or real estate professional," explained one expat living in Stykkisholmur, Iceland.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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