Buy existing property: From old building to hardly used

An existing property is a project that has already been built – be it a house, an apartment or a multi-family house. Here, the year of construction of the property can vary immensely. Compared to new construction, the main characteristic here is that the property is occupied or has been occupied in the past. Here are the advantages and disadvantages compared.

Advantages: Low purchase price, high rental yield

Compared to new construction, the purchase price of existing properties is much lower. The low purchase price is also accompanied by lower ancillary purchase costs. This has a particularly positive effect on the financing of the property. This means that far less equity is required than for the purchase of a new building.

All advantages at a glance:

• Low purchase price
• Fewer ancillary purchase costs
• Little equity required
• High rental yield
• Ready to move in

Disadvantages: High costs for maintenance & repairs

Many existing properties are old buildings – that is, properties built up to 1953. The great age of these houses and apartments often leads to high maintenance costs. Repairs are also frequent and regular after purchase. Some real estate investors take advantage of this. They buy an existing property, renovate and refurbish it, and then rent it out at a high rental yield.

Here are the disadvantages:

• High maintenance and repair costs
• Technical inspection before purchase

Buy new construction property: Freshly built & unoccupied

Of course, you also have the option to invest in new construction. These are buildings that are either completely new and not yet occupied, or properties that are still under construction.

Advantages of new real estate: modern technology, no repair costs

Since the new-build properties are completely new, there are hardly any repair costs after the purchase. The technology is up to date and there are no signs of use. Depending on the construction phase, you can also have a say in the design of the interior.

You can enjoy the following advantages when buying a new and still unoccupied property:

• High technology standard
• Low risk for repairs
• Low maintenance costs
• Co-determination in the construction phase

Disadvantages of new real estate: high purchase price with high loss of value

At the same time, the investment costs for new construction are significantly higher. The purchase price is far higher than that of existing properties. This also leads to higher ancillary purchase costs and an increased equity investment. At the same time, the rental yield is very low and the value of the property drops rapidly after the initial move-in.

So here are the disadvantages:

• High purchase price and high incidental purchase costs
• High loss of value after initial collection
• Low rental yield
• Not directly habitable if still in construction phase

Conclusion: Buy existing or new building?

The answer to this question depends on your personal goals. If you want to buy an income property, then you should look at existing properties in B and C locations. Especially if it is your first real estate investment, it is recommended to invest in existing properties. If a high technical standard and a say in the interior design are important to you, then new buildings are the right choice for you.

You can now find even more facts about new construction and existing real estate on my new project for real estate buyers (Immobilien-Erfahrung.de):

• Existing or new construction property? Advantages, disadvantages and recommendation (external)

If you want to learn even more on the subject of buying a property, whether owner-occupied or capital investment, numerous articles, guides on the subject of rented vs unrented, as well as checklists, all free and 24 hours online available, with us!

Apartment, house, apartment building, everything for real estate beginners!

Now new on Immobilien-Erfahrung.de:

• Buy property: learn – external

Photovoltaic system in 8 simple steps

Step by step – There are numerous solar calculators on the Internet that can be used to determine the approximate size of the photovoltaic system. This should help customers to estimate how large the system must be and how high the costs will be. However, many of these calculators do not take important factors into account, which is why property owners only receive inaccurate information. With our eight steps, you can calculate the individual size of the photovoltaic system you need for your home yourself. We take all factors into account and you can get a detailed picture of your investment.

Step 1 – Energy consumption per year

The primary goal of a photovoltaic system is to produce the required energy for your household without having to access the public grid. The size of your individual photovoltaic system is therefore first and foremost related to your personal energy consumption. How much electrical energy do you consume per year? You can answer this question yourself with your last electricity bill.

So the first step is to calculate your average electricity consumption in kilowatt hours (kWh) over the last 5 years (j). How has the price per kilowatt hour and the average electricity consumption changed? When calculating, you should also take into account future purchases, such as a heat pump or an electric car, i.e. everything that also consumes electricity and influences your overall consumption.

Example:
Family A has an average energy consumption over the last five years of 5,000 kWh. The acquisition of a photovoltaic system should be able to cover the majority of this energy.

Formula:
Your personal electricity consumption per year (SV)=______ kWh / j

Step 2 – Energy production of the photovoltaic system

In order for the photovoltaic system to cover your own consumption, it should supply at least 25 percent more energy than you consume over the year. The 25 percent is an empirical value that people like to calculate with. Excess energy can be ‘stored′ in a storage tank or you can feed it into the public grid. The self-consumption covered by solar energy is the part that you later no longer have to buy from energy companies, but simply produce yourself. The optimal amount of electricity production for your photovoltaic system is therefore 125 %.

Example:
Family A, which has an average energy consumption of 5,000 kWh, now calculates further with this value. Their optimal electricity production quantity is therefore 125 % x 5000 kWh = 6250 kWh

Formula:
Optimal amount of electricity produced by the photovoltaic system = 125 % x SV

Step 3 – the regional energy yield

Even if the sun does not shine 365 days a year in Germany, a photovoltaic system is still worthwhile. The prejudice that a photovoltaic system only pays off in southern countries can therefore be refuted, as global radiation averages 1,100 kilowatt hours per square metre (kWh/a) per year. The advanced technology also allows good cooling and self-cleaning of the systems, which reinforces their effectiveness.

The regional energy yield (RE) for your photovoltaic system is composed of the unit kilowatt hours per kilowatt peak and per year (kWh / (kWp x a)) and varies depending on the region. So that you can inform yourself about your region, we give here a small overview of the average kWh/m² for the individual federal states:

• Baden-Wuerttemberg: 1050-1175 kWh/m²
• Bavaria: 975-1175 kWh/m²
• Berlin / Brandenburg: 975-1050 kWh/m²
• Hesse: 975-1100 kWh/m²
• Mecklenburg-Western Pomerania: 1000-1050 kWh/m²
• Hamburg, Bremen, Lower Saxony: 950-1025 kWh/m²
• North Rhine-Westphalia: 950-1025 kWh/m²
• Rhineland-Palatinate: 975-1125 kWh/m²
• Saarland: 1050-1100 kWh/m²
• Saxony: 975-1100 kWh/m²
• Saxony-Anhalt: 975-1050 kWh/m²
• Schleswig-Holstein: 950-1025 kWh/m²
• Thuringia: 975-1050 kWh/m²

Example:
Family A lives in North Rhine-Westphalia. This federal state has an average regional energy yield of: RE = 950-1025 kWh/m².

Formula:
Your regional energy amount RE = ___________ kWh/(kWp x a)

Step 4 – the conditions of the roof

The conditions of the roof play a major role in photovoltaic systems. The roof orientation, roof pitch and shading should be taken into account when choosing your solar cells. However, the preconceived notion that only south-facing modules deliver economic yields has been disproved in recent years and it has been shown that east, west and even north-facing roofs can also deliver reasonable yields. Depending on the roof pitch and orientation according to the points of the compass, a deviation value is therefore produced. You can easily find out this composition of values for your region.

Example:
Family A has a roof that has a pitch of 30 degrees. In addition, it deviates by 40 degrees from the south. The deviation value for family A is therefore AW = 97.5 %.

Formula:
The deviation value of your property: AW= _______%

Step 5 – Avoid module shading

The location of the solar cells should be carefully considered. Shading can significantly reduce the performance of your system. This can already include general things such as the shadow of a tree, a neighbouring house, a chimney or an antenna. If such causes cast a shadow on the plant, the performance of all modules of a power string is reduced. However, pay attention to when the shadow hits your house. Since most energy is generated in the months between March and October, a shadow that hits the property only in winter is therefore less of a hindrance to performance than a shadow that hits the modules in the summer months. Depending on the type of shade, a 1-5 percent discount should be included in the calculation to account for lower power production.

Step 6 – Adjust regional energy yield

If your roof is not optimally located, so that the deviation value is not 100 percent, the deviation must be included in the regional energy yield. This is because a non-optimal roof reduces the yield somewhat.

Example:
Family A has a deviation value of 97.5 %, which must now be adjusted to the regional energy yield of North Rhine-Westphalia. Family A therefore calculates for their property: 97.5 % x 950 kWh/ (kWp x a) = 926.2 kWh/ (kWp x a)

Formula:
Personal regional energy yield (PE) = deviation value (AW) x regional energy yield (RE) = ______kWh/ (kWp x a)

Step 7 – the size of your individual photovoltaic system

With all the values you have found out, you can now determine the size of your individual photovoltaic system. For this we need the unit from step 2, i.e. your optimal electricity production quantity of the photovoltaic system and the calculated personal energy yield. If you have a larger roof area, the construction of a larger system can be considered. Planning a build? See our construction guide. Please refer to our guide on the subject of solar energy.

Example:
Family A now calculates the size that your photovoltaic system must have at least. You calculate for this: 6,250 (kWh/a) / 926 (kWh/(kWp x a)) = 6.74 kWp. Your system can therefore have a size of 6.74 kWp.

Formula:
Size of photovoltaic (PV) system = electricity production / personal energy yield [PE] = _________ kWp

Step 8 – the required roof area

The last step is to calculate the required roof area. Now that you know what the minimum size of the photovoltaic system must be to cover your energy consumption, you only need to find out how much roof area you need to install the system. A typical photovoltaic module measures 1.67 m x 1 m (= 1.67 m²) and thus has an output of 300 Wp. To now calculate the roof area, we need a factor of 7 m²/ kWp, where certain open spaces have already been taken into account.

Example:
Family A has now reached the last step of the calculation. So you calculate: 6.74 kWp x 7 (m²/ kWp) = 47.25 m². Family A therefore needs 47.25 m² of their roof surface to install a photovoltaic system to cover their energy consumption.

Formula:
The required roof area (DF) = size of the photovoltaic (PV) system x 7 (m²/ kWp)

Great living tips that make an immediate impact

Even with small things can change the flair of an entire room. Such small things can not only increase your comfort, but you also feel directly much more comfortable in their environment. First you should think about which room bothers you the most or in which room you see the need for a redesign. For many rooms there are various design options that you can individually adapt to your needs and tastes.

https://www.instagram.com/p/BnbxHjGBq2J/?taken-by=arquicore

Tablecloth & kitchen accessories – when eating becomes cosy

Tablecloths can have a special effect. You wouldn’t think it, but a tablecloth can add a special flair to a room. They were zwareine zeitlang out of fashion, but are slowly returning. Especially rustic wooden tables have a great effect even without a tablecloth, but who has always dined without a tablecloth, will be surprised how a room impression can change as soon as the favorite piece is wrapped in some fabric. It remains open to your individual taste how you want to use the tablecloth. From bright colours to patterns or simply a plain white model. You decide what effect the accessory can have and how it changes your room. Also depending on the occasion, the tablecloth makes it possible to change the room. So give free rein to their creativity and experiment with the piece of fabric.

But there are also great accessories for the kitchen that make the room look more inviting. Forget the prejudice that the kitchen is only meant for cooking and integrate it into their feel-good area and make it a new favorite room. Small accessories such as a beautiful bin, great crockery in a display cabinet, shelves or even a painted wall can work wonders and make your kitchen look inviting. Cooking with friends, eating or sitting comfortably at the kitchen table suddenly no longer looks obscene but inviting.

Colour change – a new coat of paint for furniture & walls

It often happens that you just get tired of your furniture or apartment. Fortunately, there is a simple solution for this. For pieces of furniture, such as sofas, chairs or box spring beds, there is a simple solution and that is a new cover. Especially with Ikea furniture, the whole thing is easier than you think, because here are often offered replacement covers for the various models and in different colors and patterns. For non-Ikea furniture, however, there are upholsterers who can give the furniture a new touch and make it shine in a new light. With little effort and low cost, you can redesign an entire room this way. However, the new color is not only good for furniture pieces, but the wall color also adds to the flair of the room and can also change it completely. However, painting an entire room can be very time-consuming. A single wall, however, is already painted within a few hours and gives the room directly a whole new sense of space. Simply move the furniture, mask the place well, brush and the painting can begin.

More green – plants, plants, plants

Plants are a great way to give a room that special fresh kick. They have just their big comeback and especially in the trend are plants, such as cacti but also succulents. But if you doubt your green thumb and have killed every plant within a few days without intention, you shouldn’t miss out on the pleasure of real plants. Fortunately, there are very low-maintenance plants that anyone can keep alive. These include plants such as aloe vera – which can be used incidentally, for example, to produce care products such as masks or hair treatments at home – but also most types of cacti. You can’t really go wrong with these plants. To put you then also still skillfully in scene, only the right pot is missing, which integrates the plant stylishly in the room.

Picture wall – create atmosphere with small elements

For a really short term change, the easiest way to decorate a room is with picture frames. Whether it’s a living room, bedroom or bathroom, a picture wall will add atmosphere and personality to the room. In addition, it is nice to hold in picture frames memories and pictures of family and friends to hang up. Especially great is a picture wall in the picture frames with different sizes and shapes are combined. In the trend are also picture frames, where the image is glued directly to the glass and the back wall is omitted. A great style element that stands out from a normal picture frame.

New cushions – playing with colours & patterns

You really can’t have too many cushions. Whether on the sofa, an armchair or the bed they always do well and contribute to the coziness. In addition, they can enhance a basic piece of furniture enormously, especially through their variety of colors, patterns and shapes. Whether as a color accent or just to snuggle in, pillows add a new atmosphere and are an easy and inexpensive way to bring some variety into your own four walls. For tips on finding the perfect couch, check out our guide.

Decanting – storage tins as an eye-catcher

It can be as simple as that. Once you get your act together and remove all the cereal bags, spice jars and other packaging from the kitchen and decant the contents into beautiful tins, it can have a huge impact. The room will immediately look much more harmonious and color coordinated. The packages quickly appear restless, because many different colors meet and the packages do not fit together. With storage tins you can determine the design and adapt it to your kitchen. The kitchen looks stylish and has a meaningful look. Even everyday items, such as the dishwashing liquid bottles or the rag for the kitchen can disturb the harmony. Therefore, simply fill the dishwashing liquid into a pump bottle and replace the rag with one with a great pattern or a colour that fits into your concept.

Turning old into new – new colour for old familiar things

The last trick to spontaneously achieve a great change in your own four walls is to simply take the paint bucket in hand and conjure up something new from old furniture. Instead of replacing plain wooden furniture, such as chairs, shelves, storage tables or the like and spending money on new, why not go for a makeover of old furniture pieces and save money. Just grab the paint of your choice and transform your old furniture into unique pieces.