Apartment – The choice of the right apartment is not easy, especially for an investment property. Whether you want to sell your own apartment or buy a new one, you should always know the characteristics of the property well. There are many different types of apartments, and they all have different advantages and disadvantages. For example, an apartment in an old building, a loft or a terrace apartment. Here you can find out everything about the apartment type Apartment: Apartment floors promise a lot of space and the possibility to turn your own wishes and ideas into reality on a large area. But the purchase of an apartment should always be well considered. Is a flat on a floor the right thing for you? Find out here. If you are interested in other types of apartments or would like to get a comprehensive picture of apartments, then take a look at the overview: Apartment Types.
Apartment: What is it? Definition and other terms
The name says it all when it comes to apartments. Because what constitutes a floor apartment is that the apartment extends over an entire floor of an apartment building. But this is exactly what sometimes leads to confusion, because many think that a floor apartment includes several floors. Unfortunately, this is wrong. If you are looking for an apartment on several floors, you might want to read up on maisonettes, gallery apartments or duplex apartments.
Are you looking for a suitable apartment – whether as a tenant or investor? Then take a look at our guide to apartment types A-Z!
Apartment vs. bunkhouse: what makes the difference in living arrangements?
The form of housing with which the floor apartment could be most closely compared is probably the apartment. Because apartments are also premises that are located only on one floor of the residential building. The apartment is basically a special form of the apartment, which is instead of, of over a part of the house floor over the entire floor.
When looking for an apartment, it is important to pay attention to what you see and the information you get directly from the landlord. These should be questioned, but especially when it comes to the definition of apartment types, people do not always agree. Also landlords and sellers are not always professional in the field of real estate and of course have the additional interest to make the apartment palatable to you. For this reason, it is advisable to consider in advance the basic demands that you make on an apartment and perhaps even write them down. In this way, it is easier to find a suitable apartment, because you can also ask much more specifically for certain properties.
Advantages & disadvantages of a floor apartment: living space, neighbours and more
Every type of apartment has its advantages and disadvantages. The apartment also comes not only with positive aspects, but has a few negative sides that can limit the living happiness. So that you are prepared, especially before buying, here is an overview of the biggest advantages and disadvantages that you should take into account in your decision-making.
Advantages: Large living space?
The advantages of a floor apartment arise primarily from the nature of this form of housing. On the one hand, a flat on a floor often offers more space than some apartments, as they take up the entire living space of a floor. This room layout also means that the apartments are easy to design barrier-free.
Disadvantages: High utility costs?
Especially the size of the apartment also brings disadvantages, for example, increased utility costs. With several people, this is not a problem, since the per capita bill in this case somewhat compensates for the cost trap. In itself, however, apartments are very suitable for families and flat-sharing communities.
- Higher heating costs
- Ambient noise
You finally want to buy your own home for you and your family? Then a floor apartment could be just the thing for you, because it offers you a lot of space and often also gives everyone the opportunity to have a room that can be furnished according to their own wishes and requirements.
One huge advantage of bunk homes is that you can find them in almost any location. Whether it’s in the countryside, the suburbs, or the middle of the city, these large apartment units are more common than you might think. However, prices vary extremely depending on the location, of course. So if you’re looking for a bunkhouse, look location specific for your choice and don’t rely too much on rough estimates.
Rent indexes are also helpful in finding the right price and not paying too much for your new home. Rent indexes tell you the average price per square metre in a residential area. However, this doesn’t mean that there can’t be apartments for sale there that may be far above or below the price listed. The general condition of the building can also give you information about the pricing.
Viewing appointment: checklist, preparation and tips
Especially apartments in the city and suburbs are currently highly competitive, but every viewing appointment should be prepared to guarantee that you get your dream apartment. Because viewing appointments are basically like job interviews between owner and tenant or buyer.
Preparation: Research and more
Just as renters and buyers use the Internet as a resource, landlords and sellers look at tips that help determine who to consider. Reliability and likeability are at the top of the list here. So be relaxed and try to prove your sense of duty and reliability by asking specific questions. And above all, try not to hide anything, because a tenancy based on false statements can quickly become unpleasant.
It is also worth having personal details with you or sending them electronically to the vendor or agent before or after the viewing appointment. The following documents can be important:
- Salary statement
- Schufa information
- Guarantee notice
- Contact details of former landlord
- Personal data
Viewing: Tips on living environment, owner/landlord, price & Co.
Not only do you get to know each other, but you also try to gauge whether the person is the optimal match for the property. For this reason, you should look closely at the ad and information about the living environment to get a sense of what the listing agent is looking for and whether you fit into that picture. No one wants to house a noisy apartment community in an apartment building, but if you appear professional and a good fit, the landlords will love you.
The same goes for families. Feel free to bring your kids along to the viewing appointment, but only if you’re sure the little ones won’t put a spoke in your wheel. An appointment like this can quickly become boring for children and your child will be looking for ways to occupy themselves. So take your child with you, but remember to have something to keep them occupied. You should also consider the area of the apartment. So if you want to live in an upscale area, you can find all the information about the most expensive streets in Germany here.
Checklist apartment: surroundings, property and rental prices
After preparation and during the viewing appointment it is advantageous to have a checklist. We have already recommended this at the beginning of the article to start the apartment search, but also during the active part should not take a back seat.
Information such as price range, distance to public transport and the like should still be kept in mind. Your checklist should be personal and reflect your personal wishes. At the same time, you should also think about whether your ideas are realistic. If you are a family, try to include everyone’s ideas in the list, but prioritise them.
In general, there are certain items that your checklist should definitely include. These are the points you should consider:
- Price range
- Proximity to public transport
- Parking spaces and car parking area
- Room layout
- Kindergartens and school nearby
- Equipment (kitchen, wet rooms etc.)
- Service charges (possibly check statements of previous tenants)
- Neighbourhood (minutes of owners’ meetings?)
Buying and selling a property: land transfer tax, buying an apartment & Co.
Buying a property is a big step and as a buyer you have to prepare yourself accordingly. Here you will find some additional articles on topics such as buying an apartment, land transfer tax & Co. to make the purchase of your condominium as relaxed as possible.
Buying an apartment: Agents, costs & renting – Tips
The decision to buy a condominium (ETW) is made by most buyers for two reasons: The buyer either wants to use the apartment to live in it himself. Or the buyer is looking for a financial investment that should bring a good profit in the medium or long term. What there is to consider when buying an apartment, and renting and ownership exactly run, you will learn in the following article.
Real estate transfer tax: tips, amount & costs
When buying a property – whether an apartment or a house – the so-called land transfer tax is incurred. Many prospective buyers do not consider these additional costs in their initial calculation. However, the land transfer tax must be paid in any case, and varies in amount depending on the federal state. In the article linked here, you can find out what the land transfer tax is, how high it is in the federal state of your property, and what else needs to be considered in this topic.
Valuation: Calculate purchase price and sell condominium
You have a condo and want to know what it’s worth? Of course, you can immediately go to an appraiser and/or real estate agent with this question. However, the exact valuation becomes important at the latest when you want to sell or inherit the apartment. Also in the case of mortgaging – for example because you want to buy another property – the value should be determined very precisely. Then the expert comes into play. Value factors, location, furnishings, market value, realistic price: This is how you can value your apartment.