When you move to study and later to work is cooperative housing a natural alternative to a rental or home ownership. In an area as the Capital represents co-operative housing a massive part of the total supply that is both natural and necessary also to look on the shelf with cooperative housing.

For many years, a housing cooperative an extraordinary cost solution when having to find accommodation. On the other hand, it was a market that was only for the privileged. For the cheap housing cooperatives were usually reserved for property seekers who had been on a waiting list for many years.

In 2006, property valuations significantly and this meant that the Housing value was multiplied. In the same period, a legislative modification that made it possible for shareholders to put its stake as collateral for loans. The consequence for the market was predictable. Cooperative housing, which before had cost kr. 50-100000, was now traded at prices at kr. 0.5-1 million.

Shortly after the financial crisis, and as the housing ladder smoke over the edge, it took course share market down with it. And there came a sudden focus on the need to conduct a closer examination of the share before one embarks on life as a shareholder. Helped along by the stories of a number of recent housing cooperatives that were founded on a very risky basis.

We started in andelsboligpris.dk as adviser to the cooperative buyers in 2009 and to date we have been advising for more than 1,700 customers who wanted to make the important decision on an informed basis, says CEO Henrik Grave.

For us, it's basically to investigate whether the share is salable when you no longer have to stay there. In this respect, do not delude yourself into thinking that you certainly should use the share for many years. The thing is that you can switch plans and at the same time that external opportunities arise, which means that the share will be sold. Put simply, one must always be ready to move if a sudden event occurs the opportunity to study or work in Manhattan.

We map the genes of the specific association and we help the client to determine whether the characteristics of the association meets the customer's temperament. But at the same time, we need to assess the proportion given the other options to settle on the specific location. When the percentage to be sold again, the new buyer looking at the share in the face of opportunities that otherwise might be in that city or town. The share you buy, in other words, be sensible in competition with home ownership and other housing cooperatives in the area.

Henrik Grave do not think you have to be influenced by the stories of unhealthy associations with poor economy, as these associations represent only a very small part of an otherwise healthy share housing market. But to avoid the few pitfalls that are cooperative housing market, he believes it is important to know what to be aware of. At the same time, one must remember that it is not only a question of the association has a good economy, but it is also about whether the proportion is sensibly priced.

A cooperative traded in a different way than home ownership. And for some, the procedures for share house purchases seem complex. Therefore, it is a good idea to spend time on research and invest in independent advice before making the decision.

Henrik Grave from Andelskredit.dk give here 8 tips for property seekers who are considering buying a housing cooperative

1. Use of time on research
   Once you have found a cooperative that matches your wishes, please ask for the relevant papers as the association's accounts, minutes of the meeting and statutes.
2. Get into the association's finances
   Make sure you understand the economics of the association as possible before you make your decision. You would of course not buy shares in a company just because you think the company's product is nicely. Similarly, do not buy share home simply because you like the dwelling itself. You must ensure that the economy of the association is sensible. In the accounts you must booklet you by the size of the corporation's debt, at about the operation is linked to whether repaid the debt, whether you choose fixed or variable rate, the association's property is assessed at a fair price and so on.
3. Search independent financial advice
   Remember that both your bank and your real estate agent has interests involved in their advice. Talk to independent experts who can analyze the economics of the association and also tell you about the economies of other strong housing cooperatives.
4. Call at the neighbors
   Call in a couple of other owners in the association and tell that you are considering to buy into the association. Ask them to tell you what they are happy and less happy in the association. And read like the minutes of their meetings. If the tone of the meetings is good, there is a good chance that the members get along well in everyday life.
5. Examine statutes
   When you read the articles of the association, you must watch for deviations such as prohibiting rental in connection with the stay abroad and the like. Look also for special rules of conduct. Are you a family with young children, you will probably appreciate that you may not play loud music after hours. 23:00.
6. Consider parent purchases or financial support
   If you are considering as parents can share market readily be with. In an increasing number of associations provide the statutes to as parents. Alternatively, a parent can give his child a loan for the purchase of the share. The money may include accrued equity in the parent's ownership.
7. Use your energy to find the right accommodation - before you explode your trading talent
   If you are the type who wants to haggle about the price, you do not hold you back when you need to buy a housing cooperative. In the association's accounts a controlled price. It is the price a seller maximum may ask you to pay when you disregard improvements in the proportion. But the fact is that today traded on the price of housing cooperatives, just as it always has been on the housing ladder. But check if everything else about the property and the association fits your needs before you start shopping.
8. Signing an purchase agreement, if there is demand for the share

In the popular university cities is currently great demand for all types of housing, including co-operative housing. Therefore, we recommend that you make sure you "get the fish on the hook." You can without worrying sign a purchase agreement, as long as you remember to incorporate a reservation for finance and advice. Since early 2013 we have seen a marked increase of counseling where the customer contacts us after signed a purchase agreement subject, says Henrik Grave.

Facts

• 6% of all dwellings in Denmark are cooperative housing - the equivalent of 200,000 housing cooperatives
• In Copenhagen, there are 115,000 share apartments and 85,000 condos
• Cooperative Housing as living arrangements became popular from about 1958
• In 2005, the cooperative law changed so that now it was possible to borrow against its cooperative
• As a cooperative to buy the right to live in a specific housing in the property. You pay a monthly residential fee to the association. As a buyer of a housing cooperative pays to maximum its part of the corporation's equity plusany improvements in the proportion.
• Andelsboligforeningen has no tax value of the interest payments on its loans. In return you avoid as shareholder to pay property.
• Maximum price of housing cooperatives set based on one of three methods for calculating capital: acquisition cost, professional valuer or the public land.

Henrik Grave provide impartial advice in connection with share purchases and offers also in cooperation with banks and pension funds cooperative housing loans with fixed interest rates because the work on cooperative housing has opened eyes to the fact that very large variable-rate loans not rhyme with common sense for borrowers. Read more advice on the purchase of cooperative housing here: www.andelsboligpris.dk and fixed interest and security of your share of home loans here: www.andelskredit.dk