Selling old real estate: What to look out for?

Berlin, Hamburg, Munich, Cologne, Düsseldorf, Frankfurt and throughout Germany, this guide is specially designed for newcomers and the first sale. First of all, the initial situation is an important point of reference for the next steps. In principle, there are only two important questions:

• Who wants to buy my old house?
• How much is my old house still worth?

Your house sale, your multi-family house sale is basically like any house sale, only the valuation of the house, the valuation of the multi-family house is a little more demanding, depending on the year of construction and defects.

Let’s start with the “most important” question:

What is my old house worth?

Even if many first-time sellers often think so at first:

Who would be interested in my old house?

Even if your old house or apartment building is in absolute need of renovation and is in a C-location:

Offer price makes buyers

Firstly:

Buyers can always be found for the right price

Secondly, remember this:

Where there’s a house, there’s a plot of land!

Living space is scarce and land always has its value. Old detached houses, semi-detached houses or terraced houses and especially apartment buildings offer potential.

Want to learn more about sales?

Here I have all the steps for you in one guide:

• House sale
• Sale of apartment building

Let’s move on to the valuation of your old house:

Assessment: Dilapidated, in need of renovation, what to look out for?

How is a house valued? Anyone selling their very first home will have many questions about the procedure, the process and also the valuation of the old property. After all, the valuation is the basis for the offer price and purchase price and, ultimately, your profit from the sale of the property.

What type of house are you selling?

We are about to provide you with even more detailed advice on real estate valuation for houses, apartment buildings and villas, depending on the type of house you want to sell. The parameters change depending on the type of house, from terraced houses and detached villas to country houses and apartment buildings.

Depending on the size of the property, the condition of the property, the higher the letting capacity (versus vacancy), the location and the size of the plot, the offer price will be realistic and attract prospective buyers for your property.

Evaluation criteria: Location, size, condition

Here is an overview of the five most important evaluation criteria:

1. Type of house / type of use (owner-occupied, rented, multi-party houses)
2. Size of the property
3. Size of the property
4. Situation and development
5. Condition of the object
6. Current letting

Of course, you do not prepare this valuation yourself, it is prepared by professionals like us, by experts or surveyors. This provides an objective valuation(market value) as the basis for the entire calculation, from which the offer price can be calculated. When calculating the asking price, prospective developments are also factored in.

Want to learn more about valuation?

Learn more basics about house valuation, valuation of apartment buildings and, of course, the valuation of land.

• Rate house
• Valuate apartment building
• Valuation methods
• Typical defects by year of construction

Even away from the big city, living space is rare and you will find a buyer.

Selling an old apartment building: Get in touch!

Stephan M. Czaja (Lukinski)

If the floor space is large enough and the apartment building has enough condominiums, old houses, apartment buildings and their plots can have great potential with real estate investors, both domestic and foreign.

With renovation backlog, vacancy, dilapidated, please contact me without obligation:

• Contact us

Apartment building / apartment building for sale off market

In order to reach such investors (family offices, companies, investment and real estate funds, other institutions), you need to sell your property with experts in the off-market sector. What does that mean? This is where real estate is marketed exclusively by a real estate agency.

1:1, so to speak, the real estate agency only contacts selected contacts based on the previously known profile. Your property will then not appear on real estate portals, but will be presented very specifically to individual investors with a suitable purchase profile. Large investors want direct and exclusive access, other properties are not of interest to them because they cost time.

The big advantage:

The entire sale is discreet, anonymous and you don’t waste time with interested parties who have no money or just want to have a look.

Advantages of off-market sales:

• Targeted approach of investors and institutions
• Exclusive access for selected contacts with a matching profile
• No presence on public real estate portals
• Faster sale and potentially higher sales price

Capital and purchasing power: e.g. for modernization

These investor groups also have the necessary capital to develop the old property. They have 2 options.

Example: Development from rental to ownership

A very simple example: You have an old apartment building with 15, 20, 30 or 40 tenants. Now you have two options:

Option 1: Regional buyers

Regional investors generally have less capital than investors who operate nationally or internationally. Accordingly, the majority of properties will continue to be operated as they are.

This means that there is less potential in the old property and the purchase price falls.

Option 2: Supra-regional investors

Larger investors, on the other hand, take capital into their own hands and develop the property, for example by turning rental apartments into condominiums.

As a seller, you will also receive higher offers.

That’s why you don’t waste your time on real estate portals, having to answer 100 emails, constantly running credit checks. And how do you check the buyer’s equity or financing?

If you sell your old property off-market, it is not uncommon for the first person you contact to become the buyer of the property. The purchase contract and notary appointment are completed four weeks later.

Advantage: Proof of financing is available, as are the investors’ purchase profiles = fast sales process

Properties in the renovation backlog:

Old castle, palace or estate?

Even more special than houses and apartment buildings are properties such as old castles and palaces that have seen their best days.

However, there is also a good chance that real estate investors or investment funds will be interested in your property. Depending on the status of the listed building, “simple” options (conversion into condominiums) or more complex options for conversion or rededication can be implemented.

That’s why we can’t offer you a standardized guideline here, similar to old houses and apartment buildings. It always depends on the individual location, the development possibilities, for example due to the listed building status, but the history also counts for such properties.

Real estate transfer tax: buyer or seller?

The first important question for those selling for the first time: As a seller, do you have to pay land transfer tax? Good news! This tax is payable by the buyer.

Buyers pay land transfer tax, not you as the buyer.

As a rule, the real estate transfer tax ranges between 3.5 percent and 6.5 percent, depending on the federal state in which the property or plot of land is located. For quick orientation, we have summarized the real estate transfer tax rates for all 16 federal states here, with example purchase prices from 1 to 5 million euros, from Bavaria to Hamburg.

• Real estate transfer tax – table and calculation example

This tax is important for you:

Speculation tax: selling tax-free, when?

The speculation period explained more quickly:

• Owner-occupied = 3 years
• Rented = 10 years

If you sell within the speculation period, you must – simply put – pay tax on the profits as normal, just like income from work, regardless of whether you are employed or self-employed. After the period has expired, the sale is tax-free. If you want to do a quick calculation, use my free speculation period calculator.

Tax calculation: Example

If you sell within the speculation period, you must – simply put – pay tax on the profits as normal, just like income from work, regardless of whether you are employed or self-employed. As a single person, this would typically mean a top tax rate of 42%.

Sale within the speculation period (< 10 years) as a private individual:

• Purchase 2024 = 2,100,000 euros
• Sale in 2033 = 4,100,000 euros
• Taxable profit = 2,000,000 euros
• At 42 % (single person) = 840,000 euros

Sale within the speculation period (< 10 years) as a company:

• Purchase 2024 = 2,100,000 euros
• Sale in 2033 = 4,100,000 euros
• Taxable profit Berlin approx. 19.1 % (trade tax 4.1 %, corporation tax 15 %) = EUR 2,000,000
• At 19.1 % = 382,000 euros

Sale after the speculation period (> 10 years):

• Purchase 2024 = 2,100,000 euros
• Sale in 2034 = 4,100,000 euros
• Taxable profit = 2,000,000 euros
• Tax free

But you can’t buy 10 properties now, wait 3 years and take the profits from property appreciation, because:

3 objects rule in Berlin

There is also the 3-property rule. If you sell more than 3 properties in 5 years, it is commercial real estate trading.

When selling real estate, the “3-object rule” refers to the fact that private individuals in Germany can sell up to three properties within a five-year period tax-free. If a person sells more than three properties within this period, this is considered commercial real estate trading and is subject to income tax – even if they are not rented out but are owner-occupied.

After 10 years of holding, however, the sale is always tax-free.

Why does this rule exist?

Just like the speculation tax, the rule is intended to curb speculation on the real estate market and encourage the sale of real estate for residential purposes.

So how do the “big players” save on taxes?

Commercial property: Value added tax

When selling a commercially used property that is subject to VAT and is rented out, the seller must correct the input tax deduction. If the new owner continues to let the property, no refund of input tax will be granted.

1. Commercial properties subject to VAT require an input tax adjustment on sale
2. The continuation of the rental does not affect the input tax refund for the seller

Share deals: selling a company “instead of” real estate

One option for a tax-optimized sale is the share deal. In this case, however, the property must already have been purchased by a company (such as Immobilien GmbH) (not as an individual).

The typical sale: “asset deal”

The difference: In an asset deal in the real estate context, specific assets such as land and buildings are sold individually, whereas in a share deal the shares in the company that owns the real estate are transferred.

Simply put:

• Asset deal = property is sold
• Share deal = Immobilien GmbH is sold

A share deal means that the buyer does not acquire the property itself, but the – in this case – Immobilien GmbH. Here is a short infographic. Then back to the direct sale of a property, after which I will explain more about holding companies and taxes on the sale.

Only 1.54% tax on sale

A share deal is possible if you have the company in a holding structure. This means you only pay 1.54% tax due to the intercompany privilege(Section 8b KStG).

• Asset deal = property is sold
• Share deal = company is sold (with real estate ownership)

Let us now calculate our example again, starting with the direct sale of a property:

Sale of a property as a company (asset deal):

• Purchase 2024 = 2,100,000 euros
• Sale in 2028 = 4,100,000 euros
• Taxable profit Berlin approx. 19.1 % (trade tax 4.1 %, corporation tax 15 %) = EUR 2,000,000
• At 19.1 % = 382,000 euros

Sale of a real estate GmbH as a company (share deal):

• Purchase 2024 = 2,100,000 euros
• Sale in 2028 = 3,100,000 euros
• Taxable profit = 1,000,000 euros
• For GmbH 1.54 % = 1,540 euros

You can see how huge the difference is.

No real estate transfer tax on purchase

Let’s delve a little deeper into the subject of real estate and tax optimization!

Again, simply put:

• Sale of Immobilien GmbH below 89% = no real estate transfer tax

Why is this the case? In Germany, the sale of shares in a GmbH that owns real estate is not normally subject to real estate transfer tax as long as the shares are below a certain percentage(§ 5 GrEStG).

What is the advantage? Real estate as a capital investment must bring a profit, usually calculated by the rental yield. The land transfer tax increases the purchase price by up to 6.5%, depending on the federal state. For 1 million euros, this is a cost of 65,000 euros. This directly increases the yield by a few percent.

Taxes on gifts and inheritance

If your property is an inherited or gifted property, this also raises the question: What taxes are due? As with properties you have purchased yourself, speculation tax may also be payable on the sale of an inherited property.

However, one special feature should be noted:

Thus, the speculation period does not begin on the day the property was inherited or given away, but on the day it was purchased by the original owner.

If the property is a newly inherited rental property that was acquired more than 20 years ago, the speculation period is deemed to have expired. There is therefore no speculation tax, even if you have only recently inherited the property.

To summarize:

• Speculation tax may apply
• Only for rented or leased properties
• The speculation period begins on the day of the original acquisition

Save tax with real estate

Reading tip! Save taxes with real estate – Learn about taxing taxes! You are the greatest financial professional you can find for your individual setting (private and business). Calculating taxes yourself is the tool to minimize your own tax burden.

The aim is therefore to convert taxes into private assets

The less tax you have to pay to the tax office, the faster you can build up your private wealth. You can find out more about tax optimization in this guide.

• Save tax with real estate

Want to learn more?

Real estate & tax coaching

Real estate & tax coaching from experts and investors. I am happy to bring you together with the best:

• Real estate coaching
• Real estate tax coaching
• Contact us

Here you can find more for:

• Real estate beginners

Properly plan house remodeling – analysis, budget and goal setting

As an owner who wants to sell their home and get the best price possible, consider having renovations done beforehand. This can make the house more attractive to the buyer and increase the general interest. Sometimes, however, it makes sense to forego renovations and leave them in the hands of the buyer. In this case, however, a significantly lower purchase price can usually be achieved. Here it is important to carefully weigh up the costs and benefits.

Through a well-planned home remodeling, old properties can be designed in a new way. For the success of the project, thorough planning and cooperation with professionals is of great importance. Seek the advice of architects, structural engineers and tradesmen and choose a company you trust to meet your needs and expectations. Whether a house conversion makes sense when you sell the property must be decided on an individual basis. If you are unable to sell the property without remodeling, it is worth the effort. If you are looking for professional home selling assistance, give us a call!

Before the start of the conversion, some considerations must be made. Make clear what your ideas are and to what extent you want to change the existing property. If necessary, you can seek advice from an experienced architect. List everything you want to change and which parts of the house are affected. Also consider whether you are planning an extension in addition to the conversion to increase the living space.

• How much does it cost to remodel a home?
• What is the cost of remodeling old house?
• What do I have to look out for during the conversion?
• How much does it cost to hire an architect for a remodel?

Planning phase and building analysis

Establish a preliminary approximate schedule and include delays in the calculation. These can occur unexpectedly due to undiscovered defects. Also set your budget. Once you have documented your ideas, the concrete planning phase can begin. This absolutely includes a building analysis by a professional. A master builder is the ideal contact person for this. He or she can identify defects and structural damage and give you a more accurate time frame for the remodel. It is also necessary to talk to a statistician. This person will inform you about the building regulations and check the statics of the building. It is essential that load-bearing walls remain standing. Now it will quickly become clear which of your ideas are feasible and which are structurally impossible. Compare your new findings with your original planning and create a new conversion plan on this basis.

Financing plan – craftsmen, material costs & financial reserve

Now you can create a financing plan. To do this, you can obtain various quotes from tradesmen and construction companies. Compare the prices and keep an eye on your budget. In addition to the costs for the craftsmen, there are of course also material costs. Create a cushion and ensure you have a financial reserve of about ten percent of the total budget. This is for unforeseen costs.

Permits for conversion work

A number of permits must be obtained prior to remodeling. Not all remodeling work requires a permit. However, if you are planning to add a storey or an extension to the house, you will need permission in almost every case. Even if you are converting the house to create a granny annexe or you are having a conservatory built, you will often need permission. Since these regulations differ from state to state, no general statements can be made. It is therefore essential to enquire at the relevant building authority. If you plan your conversion together with an architect or engineer, you can rely on their expertise. Craftsmen who are authorised to submit building documents are also familiar with the regulations.

This is how you find competent service providers for the conversion

For the remodeling of your home, it is best to turn to master companies. They stand for quality and have the necessary skilled workers. When choosing, pay attention to the focus of the respective master craftsman company and which projects they normally carry out. References are always a good indication when it comes to the quality of a company. Smaller renovation tasks that you would also like to have carried out in the course of the renovation, such as laying new floors, can also be left in the hands of independent craftsmen. Contact regional master craftsmen and meet with a contact person in person. Home remodeling involves large sums of money. A get-to-know-you meeting can build trust and eliminate doubts. When you feel you’ve found the right company, you can ask for a quote after inspecting the property together. It is best to get quotes from different companies.

Request alternative offers from trades

You may have to hire different companies anyway. It always depends entirely on what and how much you want to remodel. A company that moves your walls may not be able to tile the bathroom. Once you have decided on a quote, a contract will be signed. In it, all of the remodeling work you plan to do should be put in writing. Since each remodeling project is individual, the contract should also be custom made. Model contracts cannot capture the complexity of the project and are therefore useless. To be on the safe side, you can have the contract checked by a lawyer. However, bear in mind that this may involve further high costs.

Delays and fixed price

If delays occur during reconstruction, the service provider is not always to blame. Construction measures rarely run without problems and additional obstacles. There are many reasons for this. For example, undiscovered defects that become apparent during the remodeling process cause time delays. In addition, you as the builder may change your mind about details during the remodel and order additional work. This can also cause the schedule to be blown up. In this scenario, always keep an eye out for additional costs coming your way and ask the service provider to let you know if there are any new costs. This way, you’ll keep an eye on your budget and end up with a bill that won’t bankrupt you. Alternatively, it is possible to negotiate a fixed price with the tradesman.

Final building inspection

After completion of the project, the building inspection is due. Take a look at the result in peace. Even if you are not an expert, you can at least judge whether everything looks neat and works. If you are working with an architect, he can of course accompany you and advise you. If you notice any defects, these must be rectified by the tradesman. Set a deadline for this, unless this is stipulated in the contract. Only when everything is to your satisfaction will the invoice be paid.

Difference between a renovation and a refurbishment

A renovation is a visual improvement in which visible damage is repaired and living comfort is enhanced by better equipment, for example in the bathroom or kitchen. In this way, renovation differs from refurbishment, in which structural defects are removed. Renovation is therefore not absolutely necessary, but can lead to a visual upgrade and make the property more interesting for potential buyers. Wallpapering walls, repairing minor damage to the facade or laying new flooring are all part of a renovation. So, a renovation does not mean the complete renewal of the house. Instead, details are tweaked to make the property look more inviting overall. First impressions count and cannot be repeated. In order to appeal to as wide a range of people as possible, the renovation should result in a result that is as timeless and neat as possible. Extravagant wall colors and gold-plated fixtures in the bathroom appeal to only a small percentage of the population. Brightness, cleanliness and an immaculate condition of the property, on the other hand, are universally rated as positive.

Upscale, normal or simple equipment

Upscale, normal or simple equipment?

Adapt renovation to real estate

You’ve probably seen real estate listings that advertise upscale amenities.

Other offers talk about a simple or a normal equipment. This is understood to mean different standards, which of course affect the purchase price and may attract different clientele. With a targeted renovation, you can give your property the desired standard. It makes sense to adapt the furnishings to the property as much as possible.

A villa or a spacious apartment in the city centre, for example, can be better advertised with upscale furnishings. Potential buyers are prepared to spend a lot of money right from the start and want the interior of their dream property to meet their requirements. A small terraced house in the suburbs, on the other hand, is better suited to normal or simple furnishings.

Location and neighbourhood: influence on building elements

The surroundings and the location also play an important role when deciding on a standard of equipment. By looking around the neighborhood, it is usually easy to see if your property fits in with the surrounding area. If the home is in an area with mostly upscale homes, buyers who want to live in an upscale environment are more likely to be interested. Before you take action, plan your renovations accordingly.

Upscale equipment

Upscale equipment must meet high standards. Bathroom, central heating and double windows are mandatory here. The flooring can be high-quality carpet, natural stone or parquet. In the bathroom and kitchen there is a tiled floor. In addition, no supply lines may be visible. They disappear invisibly under the plaster. With the appropriate renovation work, you can give your property an upscale standard. Other extras, such as a fitted kitchen, integrated lamps or an alarm system also contribute to an upscale interior and are considered a luxury by buyers.

Normal equipment

Houses with normal equipment are equipped with double windows, at least on the windward side. Here, too, the utilities run mostly under the plaster. Bathroom and kitchen have a tiled floor. There is also central heating. Basic fittings are houses with single windows, linoleum or PVC flooring and no central heating. Many supply lines run above the plaster. A less than optimal layout of the rooms can also result in a classification in a simple equipment. Through renovation work, you can transform a house with simple fittings into a property with normal or upmarket fittings and thus appeal to completely different groups of buyers.

Renovate different living areas

You need to properly weigh the costs and benefits when renovating different living areas.

Weighing costs and benefits correctly

In a house, there are many construction sites that are candidates for renovation. One of them is the bathroom. A renovation makes sense if there is visible damage or if the equipment is no longer up to date.

Bathroom: Tile, WC, tub & shower

Bathrooms with small tiles and trees on the wall tiles are no longer in line with current tastes and are considered outdated. They can look unattractive to the buyer. So new tiles are a worthwhile investment. However, replacing the toilet, bathtub and shower is very costly and does not always make sense. Here it is important to weigh the costs thoroughly against the benefits and question the necessity. In a house with upscale furnishings, however, the sanitary facilities should also be brought up to date. Outdated bathrooms are a reason for buyers in this price segment not to buy the property.

Kitchen: renovation and modern look

The renovation of the kitchen can also be reflected positively in the purchase price. A modern kitchen can increase the purchase price by 4.5 percent. In this way, a few thousand euros can be gained in many cases when selling real estate. However, the costs for the kitchen must be deducted. If a kitchen already exists, a new one does not necessarily have to be installed. Old fronts can easily be replaced with new ones. A better interior additionally enhances the value of the kitchen. Modern electrical appliances make the superficial renovation complete.

Living areas: Wallpaper, Laminate & Co

A renovation of the living areas is almost always worthwhile. It makes for a neat and tidy impression. Depending on the condition of the house, not all walls need to be re-wallpapered and all floors need to be re-laid. Wallpaper that is in good condition can be painted over and wooden floors can be sanded down. Damage to laminate flooring can be repaired with laminate infill and defective tiles can be replaced individually. However, if you want to raise the standard of the decor, it may be necessary to replace the floors, for example. Also bear in mind that certain floor coverings are considered out of date, despite their high quality. Carpets, linoleum and cork flooring are no longer desired by most buyers and will reduce the purchase price for this reason alone, even if they are in good condition.

Wallpapering is always advisable

Wallpapering the living rooms, on the other hand, is always advisable when the old wallpaper no longer accepts paint or cannot be painted over. For example, a woodchip wallpaper tolerates about six coats. If you decide to redecorate the living rooms, you can choose between different types of wallpaper. For living room and bedroom normal paper wallpapers or non-woven wallpapers come into question. In the kitchen or in the hallway, however, waterproof latex wallpapers are a good choice. They can be easily wiped off and are therefore the perfect choice for heavily used areas.

Conversion of older houses and apartments

Many older houses and apartments have great potential in terms of a new design. It is not always necessary to demolish the building and build anew. This variant is often chosen by builders. However, it is not very profitable. Demolition sometimes involves high costs, especially if there are harmful substances to be disposed of. In addition, there are the costs for the new building. In many cases, it makes sense to consider rebuilding. If the substance of the building is in good or very good condition, the property can be gutted and remodeled. If you own an older building that you would like to sell, we would be happy to make an appointment with you for an individual inspection. Together with a building expert, we can decide whether the building is suitable for a comprehensive conversion and can be offered on the market accordingly. Since the demand for real estate in Hesse and Rhineland-Palatinate is high, we can successfuly assist you in selling your property in most cases. Get in touch with us without any obligation. We look forward to your call.

Prerequisites for a successful conversion

Before you decide to remodel an older home, it is important to find out what is feasible. Surely you have many ideas that you would like to implement. What is possible and what is not, however, depends on the condition of the building and the statics. For many builders, the question of cost also plays a very important role.

Verification of the statics

Before you start with the actual conversion, a review of the statics is required as part of the feasibility study. It is a great advantage if you are in possession of building plans. These make a statement about the way in which the building was constructed. In principle, it is possible to tear out walls and reconstruct them. However, these must not be load-bearing walls. If you remove them, the consequence may be the collapse of the building or some parts of it. If you want to remove a load-bearing wall, it is important to support the building beforehand. You are hardly limited in terms of what you can do. However, changing the statics is a cost issue. Many measures related to maintaining the statics are expensive and may only be carried out by a professional. In any case, a comprehensive renovation should be accompanied by an experienced structural engineer. However, if you limit yourself to comprehensive renovation work, you can do without a structural engineer and save the costs.

Calculate costs safely in advance

If you have decided to remodel because building a new home was too expensive, your funds are sometimes limited. However, a comprehensive remodel can also yield very nice results. A complete remodel sometimes costs as much as or even exceeds the cost of a single-family home. Basically, though, you can operate within your margin. Even if you only have a small budget, a lot can be made of it. Also consider whether you would be willing to do your own work. You will save money on the labor hours that you would have to pay to the tradesmen. Technical skills and a good hand are important prerequisites for the provision of personal services.

Redesign walls and floors

Remodeling a home involves many small investments. If you decide to completely gut the house and completely redesign the interior, you will have to reckon with a five-figure sum in the low to medium range in any case. The design of the walls and floors alone will cost 10,000 EUR or more. The high financial expenditure for the craftsman hours is already included in this amount. However, it makes little sense to take on the laying of the floors and the wallpapering yourself if you are not experienced in this. In this case, you should hire an experienced craftsman and look for cost savings elsewhere.

Bathroom and kitchen planning

There are a variety of beautiful design options for the bathroom and kitchen, but they are very costly. The advantage of remodeling the house is that you can re-route pipes and electrical wiring. So it is possible to install taps, toilet and shower in a different place. You can even choose a different room if you don’t like the previous layout. However, again, plan for a five-figure sum in the lower or middle range.

Determine real costs

The total cost of a remodel can quickly exceed 100,000 euros. A comprehensive redesign with the assistance of a structural engineer quickly exceeds the costs you would have to bear for a new construction of the house. It is important that you compare costs and benefits and really include all the little things in your planning. Define generous sums by rounding up significantly. Then add an amount of 10,000 euros for the things you have forgotten. Then you are protected from unpleasant surprises and may even have capital left over with which you can fulfil some special wishes.

Allow for buffer: planning costs + 10%.

Converting a house can be an attractive alternative to buying a new one. It is important that you clarify, if possible before buying the property, which planning you can implement and what costs you will incur. You should only complete the purchase when you are sure you have found the right property. Contact a structural engineer and have a feasibility study done. Only when all the plans are feasible to your satisfaction is it the right time to buy the property. Would you like advice from a professional? We are happy to be of service to you. Simply make an appointment for a non-binding discussion.

Conclusion: Renovation before selling the house

Renovation work before the sale of the house is reflected positively in the selling price. However, the costs and benefits should be thoroughly reviewed beforehand. If you decide to renovate, you should refrain from extravagant experiments. Because you do not know the taste of the buyer. Timeless, bright and well-maintained rooms appeal to most potential buyers. In addition, you should think about the desired standard of furnishings and plan the renovation accordingly. By replacing floors and wallpaper and renovating the bathroom and kitchen, you can specifically improve the standard of furnishings and thus improve your chances on the housing market.

Interior Design in Frankfurt: Good adresses

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Bolia – minimalist Scandinavian design

Bolia combines several designers in one brand and creates not only beautiful home accessories, but also unique and minimalist furniture pieces. Bolia invites you to browse in the store as well as online and discover great treasures.

Börsenstr. 13-15, 60313 Frankfurt am Main, Germany

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Raumstation Interior Design – high quality, personal advice

Raumstation Interior Design attaches great importance to quality and good advice. The showroom in Frankfurt am Main presents a large selection of elegant and modern styles. From home accessories to furniture, everything can be found here.

Eschersheimer Landstraße 13, 60322 Frankfurt am Main, Germany

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Massdrei Interior – individual planning and tailor-made design

Massdrei Interior focuses on individual planning. The showroom in Frankfurt am Main displays selected designs and custom-made furnishings. Here you will find unique furniture as well as great decorations.

Landstraße 5, 60322 Frankfurt am Main, Germany

https://www.instagram.com/p/BYgMF69Dy06/

Schmidt’s Papeterie – Tradition in the heart of Frankfurt

Schmidt’s Papeterie is a real traditional store and has been in the business for 20 years with pleasure. In the store in Frankfurt am Main you will find everything from stationery to home accessories and gifts.

Schweizer Straße 67, 60594 Frankfurt/Main, Germany

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Design House Stockholm – Scandinavian design in Germany

The Design House Stockholm works with many different designers and brings the minimalist styles from the north to Germany. From home accessories to furniture and kitchen utensils you can find a great selection here.

Stephanstrasse 1-3, 60313 Frankfurt

https://www.instagram.com/p/Bv3UuOKlrCs/

Contrast – six floors of inspiration

Kontrast offers its customers living culture with sophistication and variety on six large floors. From furniture to lighting to great accessories, no wish remains unfulfilled here and the space for inspiration is large.

Hanauer Landstraße 297, 60314 Frankfurt am Main, Germany

https://www.instagram.com/p/BwWkDb_gQs2/

Cairo – Top brands in one shop

Cairo is an online shop with selected design stores, for example in Frankfurt am Main. They carry top brands like Vitra or Kartell and show the perfect flair for design.

Große Eschenheimer Str. 9, 60313 Frankfurt am Main

https://www.instagram.com/p/BvJOf0Nhrbb/

Butlers – Home accessories in all directions

Butlers offers a wide range of decoration, garden furniture and lots of inspiration. Both in the online shop and in the store in Frankfurt am Main, customers can shop, gather inspiration and find new favourite pieces.

Liebfrauenstrasse 4, 60313 Frankfurt

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EW Interior Design – large selection with high quality

At EW Interior Design you will not only find selected furniture & lamps, fine textiles and wallpapers, but also carpets and unusual accessories from the best international designers and all this in an extraordinary store.

Schweizer Straße 83, 60594 Frankfurt am Main, Germany

https://www.instagram.com/p/BtwDou0h-Ao/

Liebesdienste Home – Interior and furniture with culinary delights

Liebesdienste Home is a kind of oasis for anyone looking for a culinary experience by Nicolas Vahé or an exclusive piece of furniture by Serax, House doctor or Mater design. There is also room for great gift ideas and the store offers enough space for great Scandinavian design.

Oeder Weg 44, 60314 Frankfurt

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Morgen Interiors – own planning with great designs

At Morgen Interiors, everything revolves around interior design and high-quality products. From furniture to decor, everything here is planned in-house and manufactured with the utmost care. The designs are minimalist and modern. The store in Frankfurt am Main is more like a showroom and offers plenty of space for great ideas and lots of inspiration.

Lindleystrasse 5, 60314 Frankfurt am Main, Germany

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Noord – a lot of choice in one store

In its modern store in Frankfurt am Main,Noord offers not only lamps, small pieces of furniture and home accessories of hand-picked design, but also natural cosmetics, delicatessen, stationery and fashion accessories.

Friedberger Landstr. 119, 60318 Frankfurt, Germany

Cologne Old Town: Historic City Centre

Cologne is one of the most important economic regions in Europe and is located in North Rhine-Westphalia. Almost 20 million people are regularly drawn here. This is mainly due to the booming media industry, the colorful city life and the unique culture of the city. The legendary Cologne Carnival, international trade fairs and numerous music and sporting events make life in Cologne varied and exciting. Whether it’s a villa in exclusive Lindenthal, a spacious detached house in leafy Rodenkirchen or a spacious loft in the historic old town – everyone feels at home in Cologne.

Cologne in NRW: map and location

Cologne is a city in the federal state of North Rhine-Westphalia and is located in the west of the country. The megacity borders directly on the Rhine and is about 1.5 hours away from the Dutch border. The city has an area of 405 km² and is divided into several districts.

The Cologne Old Town is the historic city center, located directly on the Rhine and can be divided into a north and south part. Neighboring districts include Neustadt-Nord, the Belgian quarter or Deutz on the opposite side of the Rhine.

Cologne Old Town North: Map

The district Altstadt-Nord is located directly on the Rhine. Among other things, the main shopping street and Cologne’s main railway station can be found in this district. It is therefore very centrally located and so you can easily reach not only the Neustadt North and South, but also the trendy district of Marienburg.

Here is a section of the neighborhood:

Cologne Old Town South: Map

The district Cologne Altstadt- Süd also borders on the Rhine and is very centrally located. In this quarter is the famous chocolate museum and you can do a lot. The border between the north and south part runs at the Deutzer bridge, over which you can get to the other side of the Rhine.

Sell real estate: Apartment, house, apartment building

The Cologne real estate market is in demand. From maisonettes to bungalows – the demand for houses and condominiums has reached record levels. Because especially Cologne and nearby Düsseldorf are becoming more and more popular! This is also reflected in the real estate prices in Cologne. So now is the perfect time to successfuly sell your property. The selling process is not only dependent on the timing and location, but also on the different types of apartments and houses.

Learn more here:

• Sell apartment
• Sell house
• Sell apartment house
• Sell land
• Overview: Sell real estate

The valuation of the property is one of the most important steps in the sale of real estate.

Real estate valuation: Valuation for the sale of real estate

One of the most important steps is the valuation of your property. However, caution is advised here. After all, there are a multitude of factors that influence the purchase price of your property. As a rule, one thing always applies above all else:

Location, location, location

This includes not only the district, but also the local infrastructure and connections to schools and hospitals. The safety of the place of residence also plays an important role. Other factors include the year of construction, the building fabric and the equipment of your property. Renovation and refurbishment with the help of an architect, craftsman & Co. also have a positive effect on the purchase price,

Here you can find out more about the property valuation, the procedure and the most important documents:

• Rate apartment
• Rate house
• Rate apartment house
• Valuing property
• Overview: Valuing real estate

Real estate sale in the old town of Cologne

Perhaps you own a house or a condominium in Cologne-Altstadt and would like to sell this property? A professional real estate agent will be happy to help you successfuly market and sell your property, as this is an extensive task that should not be underestimated. With this help, your project is guaranteed to succeed more easily, as reputable estate agents can draw on extensive expertise, which will save you a lot of money, time and stress in any case.

Sell with broker or privately?

Start your house sale simply by contacting an estate agent. This will be followed by a discussion of the steps that need to be taken before the eventual sale of the property in Cologne-Altstadt. Before your property is advertised and offered for sale, some preparatory work needs to be done.

An experienced real estate agent supports you throughout the entire sales process

First of all, all documents such as floor plans, plans, statements, the land register extract as well as an exposé and several photos are needed to clarify legal components and to get an insight into your house. Furthermore: Experienced real estate agents can also help you with an off market sale. Discretion is paramount here, which is why many wealthy property owners and investors, opt for an off market sale. Learn more here: Off Market

Determine property value: Criteria

The next step: the valuation. Here, the question of the desired sales price and the absolute lower limit in the sales negotiations is clarified. Your estate agent will have many years of experience and will be able to estimate how much your house in Cologne-Altstadt is worth on the basis of location, fixtures and fittings and usual market prices.

Here are some of the most important criteria that affect the value and therefore the selling price of your property:

• Location
• Infrastructure / Surroundings
• Size
• Equipment
• State of development
• Refurbishments / Refurbishment requirements

Procedure: Hiring an appraiser, inspections & co.

Whether in the old town, Rodenkirchen or Hahnwald – in principle, the commissioning of a cost-intensive surveyor is not necessary and, according to experience, is only required if there are several owners and disagreements have arisen regarding the value. If the selling price is fixed, you start marketing your property by advertising it on real estate platforms on the Internet as well as in regional newspapers. Interested parties will contact your real estate agent directly. Of course, viewings and negotiations will also take place, so you don’t have to worry about this. Once a buyer has been found and their credit rating has been checked, they will meet with their estate agent at the notary’s office, who will take over the processing of the purchase contract. The sale of your house is completed with the payment and the handover of the property.

Here is a summary of the real estate sale process:

• Valuation
• Marketing of the property
• Visit
• Purchase Negotiation
• Credit check
• Processing & purchase contract
• Handover

Frequently asked questions for sellers

You want to buy a property and are now in a hurry with your current property sale? Or you would like to buy an apartment building in order to rent it out lucratively? Whether old town, new town or Marienburg – as a real estate seller there are certain questions you need to ask yourself. Have you already found a new property? Should the property’s furnishings also be sold? And is there a right of first refusal?

Here are the most important questions you need to ask yourself as an owner before selling:

1. Do you have a follow-on property in mind?
2. Is there a need for renovation / refurbishment of the apartment?
3. Are all records and documents available?
4. Are early repayment penalties payable?
5. Are the declaration of partition, building insurance, minutes of the owners’ meeting, utility bills, list of rents, etc. available?
6. Are there lists of the maintenance of the condominium (maintenance costs)?
7. Should inventory be sold?
8. Is there a right of first refusal?
9. Value of the apartment?

Conclusion: Cologne Old Town

There are some interesting buildings in Cologne-Altstadt for which you will certainly achieve higher prices than the average. However, you can also achieve good sales proceeds for single-family houses/ apartment buildings or villas in this beautiful city. From experience it can be said that excellent negotiating skills and outstanding expertise are necessary to sell real estate at a good price. Choose a competent real estate agent so that nothing can go wrong with the sale.

Cologne: Real estate in the media city on the Rhine

With over 1 million inhabitants, the media metropolis on the Rhine is one of the hubs in NRW, but also in Germany. Located in western Germany, the city borders other metropolitan areas such as Düsseldorf and Bonn. The media city is located directly on the Rhine and can be divided into different parts and districts. Neighbouring cities include Düsseldorf, Bonn and Leverkusen. Cologne stands for media, TV and press like no other city in Germany. That is why the metropolis on the Rhine is constantly growing. Südstadt, Altstadt, Ringe, Ehrenfeld or Sülz, where is the best place to live?

Real estate in Cologne

Hardly any other large city in Germany offers so much “room for improvement”. From the purchase price to the architecture of the existing property. Whether condominium, apartment building or luxurious loft with a view of the Rhine. Cologne has enjoyed steadily growing popularity for years. The most beautiful city on the Rhine really does have something to offer everyone. The stately old buildings in Südstadt and the famous area around Rheinauhafen are particularly impressive.

• Real Estate Cologne

Living in Cologne: Popular districts & residential areas

The media city on the Rhine offers a diverse cityscape, guaranteeing the perfect living solution for everyone. From luxury apartment to villa, there really is everything. With the help of the right real estate agent, you can undoubtedly find your dream property – whether Südstadt, Marienburg or Hahnwald – a property as an investment in Cologne always pays off! One of the largest universities in Germany ensures a young cityscape and gives the ‘Veedeln’ their inimitable freshness. Would you like to invest in a property as a capital investment in charming Cologne? Find out everything you need to know about the city’s most sought-after residential districts, including tips on location, prices per square metre & co! To the overview: Living in Cologne.

• South Town
• Marienburg
• Rooster Forest

House, apartment and land for sale in Cologne

Selling an apartment, an apartment building or your own property. The colourful media metropolis of Cologne has a lot to offer: While Marienburg and Rodenkirchen inspire with their proximity to the Rhine, Neustadt is bustling with big city life. Lindenthal, located to the west, convinces with its quiet atmosphere and those who prefer it exclusive and prominent settle in Hahnwald. You want to sell your property in Cologne? Everything about the selling process, the most important documents and whether you should sell privately or with an estate agent. To the overview: Selling real estate in Cologne.

• Old Town
• Marienburg
• Rodenkirchen
• Lindenthal
• New Town
• Rooster Forest