Agents of Tech

Kodit.io Launches Service to Aid First-Time Homebuyers

Kalle Salmi

European proptech and iBuyer company Kodit.io has launched Kodit Pay, allowing homebuyers to rent a fully-renovated apartment before actually buying it at a pre-settled price.

Out of the monthly fee to Kodit.io, only a few hundred euros covers the rent, while the rest is saved for the down payment, making it possible for homebuyers to immediately move into their dream home while saving cash for the down payment.

Kodit Pay especially serves first-time homebuyers, for whom it has become increasingly difficult to save enough money for a down payment — or are reluctant to spend all their savings to first pay the down payment and then renovate the apartment. The service also offers flexibility for those wanting to move into a new apartment before they have been able to sell their old home.

“Less and less young people are homeowners. It’s not because their attitudes would be against homeownership. It is because apartment prices in metropolitan areas have skyrocketed, while salaries haven’t. Kodit Pay wants to be part of the solution for this socio-economic problem,” said Kalle Salmi, CEO and founder of Kodit.io.

Kodit Pay wants to enable every potential homebuyer to buy their dream homes by offering a service that helps them accumulate the needed savings.

The Kodit Pay service already has 150 apartments in its portfolio, and internationally, there are over 20,000 registered potential homebuyers who want to use the service as soon as the right apartment is available. The first buyers have gone through the process successfully already in Finland and Spain.

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