Moving to Olafsvik, Iceland
Last updated on Aug 07, 2024
Summary: Moving to Olafsvik, Iceland: Expats, retirees and digital nomads talk about everything you need to know before moving to Olafsvik.
What do I need to know before moving to Olafsvik?
When we asked people what advice they would give someone preparing to move to Olafsvik, they said:
"Before moving to Olafsvik, expats should know that the town is small, with a population of just over 1,000 people, so it offers a close-knit community feel. The official language is Icelandic, but English is widely spoken, especially by younger generations. The cost of living in Olafsvik is high, similar to the rest of Iceland, with groceries and dining out being particularly expensive. The climate in Olafsvik is subarctic, meaning it has cool summers and cold winters. The town experiences long hours of darkness in the winter and long hours of daylight in the summer, which can take some getting used to. The weather can change rapidly, so it's essential to dress in layers. Olafsvik is located on the Snæfellsnes Peninsula, known for its stunning natural beauty, including the Snæfellsjökull glacier and national park. Outdoor activities such as hiking, bird watching, and whale watching are popular pastimes. The healthcare system in Iceland is of a high standard, but it's important for expats to have comprehensive health insurance. The education system is also highly rated, with compulsory education for children aged 6 to 16. Public transportation is limited in Olafsvik, so having a car can be beneficial. However, the town is walkable, and cycling is also a popular mode of transportation. Icelandic people are known for their friendliness and hospitality, but they also value their privacy. It's important to respect this and to make an effort to integrate into the local community. Finally, it's worth noting that Iceland is one of the safest countries in the world, with very low crime rates. However, it's always important to take standard precautions to protect your personal safety and belongings," explained one expat living in Olafsvik, Iceland.
What is a typical expat home or apartment like in Olafsvik?
"Expat homes or apartments in Olafsvik, are typically cozy and comfortable, designed to withstand the harsh Icelandic weather. They are often constructed with sturdy materials like concrete and wood, and are well-insulated to keep the cold out. The interiors are usually modern and minimalist, with clean lines and neutral colors. The homes often have large windows to let in as much natural light as possible, given the long, dark winters. Many homes also have fireplaces or wood-burning stoves for additional warmth. The kitchens are typically equipped with modern appliances, and the living areas are furnished with comfortable sofas and chairs. Bedrooms are usually modest in size, with storage solutions designed to maximize space. Bathrooms often feature heated floors for added comfort. Many expat homes in Olafsvik also have outdoor spaces, such as patios or balconies, where residents can enjoy the stunning Icelandic scenery. Some homes may even have a hot tub or a sauna, perfect for relaxing after a long day. Despite the remote location, these homes often come with modern amenities such as high-speed internet, satellite TV, and even underfloor heating. They are usually located close to the town center, making it easy for expats to access shops, restaurants, and other services. In terms of decor, many expats choose to incorporate elements of traditional Icelandic design into their homes, such as sheepskin rugs, woolen blankets, and artwork inspired by the country's stunning landscapes. However, the overall aesthetic is often a blend of modern Scandinavian design and rustic, natural elements, creating a home that is both stylish and cozy. In summary, a typical expat home in Olafsvik is a comfortable, well-equipped space that combines modern conveniences with traditional Icelandic design elements, all designed to make the most of the unique and beautiful surroundings," said one expat who made the move to Olafsvik.
What is the average cost of housing in Olafsvik?
If you are thinking about moving to Olafsvik, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Olafsvik can vary greatly depending on the type and size of the property. However, it is generally considered to be relatively high compared to other areas in the country. For instance, a typical house in Olafsvik can cost around 30 to 40 million Icelandic Krona. This translates to approximately 240,000 to 320,000 US dollars. Please note that these are rough estimates and actual prices can vary," said one expat who made the move to Olafsvik.
Should I buy or rent a home in Olafsvik?
If you have not spent a lot of time in Olafsvik, 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 Olafsvik, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Olafsvik 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 security in the future. However, buying a home also comes with additional costs such as maintenance, insurance, and property taxes. It also requires a significant upfront investment, including a down payment and closing costs. If you're not ready for these financial commitments, renting might be a better option. Renting a home in Olafsvik offers more flexibility. It's a good option if you're not sure about your long-term plans or if you prefer not to deal with the responsibilities of homeownership. Renting can also be more affordable in the short term, as it typically requires a smaller upfront cost and includes fewer ongoing expenses. In the end, the decision to buy or rent a home in Olafsvik should be based on your financial situation, lifestyle, and future plans. It's important to consider all factors and possibly seek advice from a financial advisor before making a decision," said one expat in Olafsvik.
What cultural faux pas should I try to avoid making in Olafsvik?
We asked people in Olafsvik if they could share any humorous cultural blunders they commited. For new expats, keep in mind that these incidents are an inevitable part of expat life. Learning to laugh about them is the key!:
"When visiting Olafsvik, it's important to respect the local customs and traditions to avoid any cultural faux pas. Here are some tips: Avoid comparing Iceland to other Scandinavian countries. Icelanders are proud of their unique culture and heritage, and may not appreciate comparisons. Do not disrespect the Icelandic language. Even if it's difficult to pronounce or understand, Icelanders are proud of their language and its history. Avoid littering or damaging the natural environment. Icelanders are very environmentally conscious and take great pride in their country's natural beauty. Do not expect everything to run on a strict schedule. Icelanders have a more relaxed attitude towards time, which can be a culture shock for visitors from more punctual societies. Avoid discussing whaling. It's a controversial topic in Iceland and opinions vary widely. Do not ignore road signs or safety warnings, especially when exploring the countryside. The weather in Iceland can be unpredictable and conditions can change rapidly. Avoid being overly loud or boisterous in public places. Icelanders tend to be reserved and value their personal space. Do not expect to pay with cash. Most transactions in Iceland are done electronically, even for small amounts. Avoid making fun of Icelandic beliefs, such as elves and trolls. While not everyone in Iceland believes in these creatures, they are a part of Icelandic folklore and are respected by many. Lastly, do not refuse an invitation to a hot tub. It's a big part of Icelandic culture and a great way to socialize with locals," commented one expat who made the move to Olafsvik.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad 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.
Get a quote for international health insurance from our partner, William Russell.
Get Quote
Get a quote for international health insurance from our partner, William Russell.
Get Quote
Iceland Forum
Talk with other digital nomads and expats in Iceland on our Iceland forum - meet people, get advice and help others.
Contribute
Help others in Iceland by answering questions about the challenges and adventures of living in Iceland.
Digital Nomads in Iceland offer advice about healthcare, hospital visits, emergency rooms visits, finding a doctor and buying health insurance in Iceland.