Buying in Germany: first property

Good things should be recommended and one of the largest knowledge platforms in Germany, is definitely one of them, more precisely: Immobilien-Erfahrung.de. Tip. Use the Google Translator to translate the know-how into your language!

• Read Immobilien-Erfahrung.de in English

3 typical mistakes of first-time buyers

Thorsten Bader, expert at B&B Optimal GmbH and managing director of Immobilien-Erfahrung.de, recommends potential buyers to consider their first property exclusively as a capital investment instead of using it themselves. In this case, there is namely the risk that the management costs, such as insurance, property tax and operating costs, which in addition increase in their amount every year by an average of 5 percent, affect the financial independence.

Purchasing without accurate knowledge of the market

Mistake number two is to engage in the purchase of a property without accurate knowledge of the market. Here, there is a risk of buying a condominium at an overpriced price or spending more on renovation work than actually planned. Therefore, potential buyers should carefully plan their finances in advance and be aware of the current market value and the costs involved.

Condition of the property

Mistake number three is not getting enough information about the condition of the property. Here, one should not only check the appearance, but also the technical condition and the structural substance in detail. Hidden defects such as moisture damage or problems with the electrical system can lead to unexpected costs later. A well-done appraisal by an expert is also advisable here.

In summary, when buying their first property, interested parties should make sure that they consider it exclusively as a capital investment, have precise knowledge of the market, inform themselves about the condition of the property and plan their finances carefully. With these tips, a financially sound capital investment in a condominium can be realized.

Why is a capital investment “better”?

Living for rent and renting out your property?

Real estate as an investment offers several advantages over using it as your own home:

1. Renting
2. Increase in value
3. Financial security

Renting instead of owner-occupying

Real estate can be rented out, which can generate regular income. Your tenant pays the installments of your financing with the monthly rent. At the same time, as a tenant, you have to take care of virtually nothing yourself. Self-use, on the other hand, means: If your salary fails, the repayment of the financing fails. If the heating is defective, you have to take care of everything and, so to speak, always have double damage.

Increase in value

Increase in value: real estate tends to have a stable increase in value, which allows the owner to enjoy an increase in value.

Financial Protection

Financial security: renting a property can provide financial security in retirement.

However, it is important to note that any investment carries some risk and it is important to consider an investor’s specific needs and goals before making a decision.

Investing in Germany

Learn more about interesting and attractive locations in Germany here:

• Capital Investment Atlas

Want to learn more about the real estate market in Germany? Use Google Translator to translate the know-how into your language!

• Read real estate-experience.com in English

With a few clicks you can translate the content of the knowledge platforms for German real estate into your language

Der Beitrag Typical mistake! Buying your first property: What can go wrong? erschien zuerst auf ℄ Real Estates.

House & Buy a flat: Real estate investment

Many real estate buyers bring a lot of time with them, some of them need to move quickly. Career changes, spontaneous inheritance, but also tax aspects, such as profits at the end of the year to avoid tax, play a role for some property buyers.

Factor: Time, local knowledge and laws for owners

But it is not only the time that holds risks for many a real estate investor, the lack of local knowledge also ensures that the property search takes considerably longer than planned and causes considerably more sources of error. Sometimes expensive mistakes, after all you are moving in a new legal system (USA or Europe, or Germany).

Risk factors:

• Lack of time
• Lack of local knowledge
• New laws and taxes

Real estate yield: city districts in comparison

Some evergreen districts, mainly in the city centres, always pay off for real estate investors in the end. On the other hand, the return on the property is “only” moderate. If you want a higher property return, you have to go to Upcoming districts.

Some buyers, however, will by no means deal with the yield of a property, but first of all with the basics, the mistakes that can be made when buying a property, as well as the procedure, from the search, through the broker of the to purchase contract and notary.

Real estate special: USA, Germany (emigrants)

Hundreds of thousands immigrate to both countries every year, hundreds of thousands leave the countries and look for a new home. Career changes, as described in the introduction, the new love, a spontaneous inheritance or a blatant change of scene. It is not always about investment. This is another reason why our little guides are intended to provide a quick and clear insight into the megacities of both countries.

Example New York City

Here is a little insight into the city that never sleeps. Which districts do you need to know? Which taxes are important for real estate buyers in the USA? Even in the state of New York?

• Investment brochures

Each individual investment brochure is available in two languages, English and German. Tip! Among the individual investment brochures you will find more detailed information, for example on the square metre prices for condominiums and houses in the respective cities. You can find out about buying a house or buying an apartment free of charge from us at. Here you can access the respective overview, invest in the USA and invest in Germany:

• Investment brochures

Multi-family houses and renting

You do not want to buy only for your own use but would like to rent out parts of your property? Then there are once again very special requirements, laws and regulations that you need to know.

• Buy a multi-family house
• Build or buy an apartment building ?

Der Beitrag Investment Brochure: Buy Real Estate Special – Germany & USA erschien zuerst auf ℄ Real Estates.