A FAIRER WAY OF BUYING
At BoKlok, we sell homes in a rather different way to the usual residential developers. The difference lies in our left-to-live-on-analysis, in our key worker principle and in our open and honest sales process.
We call it the BoKlok way of buying a home.
Why the price is just right
Our homes are designed and economically produced to offer a broader, more accessible profile of home ownership. Ideal for key workers, for example, they are also highly popular with first time buyers.
Part of our process of ensuring the realistic affordability of our homes is the cost of living research we carry out each year, evaluating average income and outgoings for typical households in our reference customer groups. Based on this information, we can assess the amounts people would have left for housing expenses, including their monthly mortgage re-payment. We call this a left-to-live-on analysis.
Our brand promise is to deliver homes at a low price, for all. We achieve this through prices based on our structured methodology, and by establishing good working partnerships in all of our developments.
OUR KEY WORKER PRINCIPLE
When BoKlok started in Sweden in the 1990s, there was an urgent shortage of homes, specifically for people on ordinary incomes. In designing the first BoKlok home, we chose to first find out three key things.
Who are we building for, what can they afford, and how do they want to live?
Step forward the key worker. The very first BoKlok home was designed for a nurse. A key worker with two children, on a fairly limited budget, who longed for a bright, contemporary home of their own, close to green spaces and public transport. The challenge to provide stylish, comfortable homes in pleasant surroundings and at affordable prices was what drove us forward then, and still does.
Since that moment, we have delivered more than 12,000 BoKlok homes in the Nordics, many of them to first-time buyers, all of them designed and priced with our key worker principle in mind.
WHAT WE MEAN BY AN OPEN AND HONEST SALES PROCESS
Communication is key
In all our communications, we make sure that each aspect of our sales process is clearly and simply explained, including information given on our website.
The BoKlok sales ballot
Everyone who is interested in buying one of our new homes, and who is eligible to do so, is entered into a ballot, giving each person a fair and equal opportunity. If someone is ineligible, they are informed before the ballot draw takes place, stating the reason why. (For example, for entering multiple applications for one household, which is not allowed.)
Real time streaming of the draw provides full transparency for the process, with an external party carrying out the draw, such as a public officer or an IKEA manager.
Fair and square
No one can queue jump their place in the ballot draw, so that everyone is treated fairly and openly. And there are no advantages for anyone involved in the project, such as BoKlok employees or external consultants.
So from start to finish, ours is a process that’s straightforward, open and fair.
Because that’s the BoKlok way of buying a home.