BUYING REAL ESTATE QUESTIONS AND ANSWERS

 BUYING REAL ESTATE QUESTIONS AND ANSWERS

Buying a property is almost always an investment in a property that will last for decades. After all, it's about nothing less than a solid long-term investment or your future home - and sometimes both. The complex topic should be approached accordingly carefully. A comprehensive overview of the most important aspects of home purchase and home purchase offers ten questions and answers that we have put together for you. Further information on all questions can be found via the corresponding links in the answers.

What type of property would you or your family consider?

At the beginning of the considerations about buying a property, there should be personal concerns. In other words: How do you imagine your future living environment, and what demands do you have on the property? And of course, it plays a major role whether you purchase the property as an investment or whether you want to live in the house or apartment yourself.

Union Complex will provide you comfortable apartment for you and your family.

The location: where do you want to live?

Do you appreciate the country idyll or urban flair? Do you mind or not a long commute to work? It would be best to ask yourself such questions to find out which location is the right one for your dream property. In doing so, you should not ignore how needs can change. For example, young couples often appreciate the urban environment. Families often want a house with a large garden in the countryside. Best-agers are often drawn back to the cities.

Therefore, when making a decision, you should also consider the resale options - if you change your mind later. The prospects for the region's economic strength play a significant role here. The most beautiful country house can hardly be sold later if it is far away from a metropolitan region with strong economic output.

Single-family house, semi-detached house, row house, or rather an apartment: How do you want to live?

Often, the property location requirements are also related to the wishes regarding the property: If you want a house with a large garden, you will find it more in the suburbs or rural locations - especially with a smaller budget. In particular, in the case of houses, you should consider how important the property is to you.

Those who like to sit outside do not necessarily need a large and therefore labor-intensive garden. Possibly an apartment with a garden part can even be considered? However, if you enjoy gardening, you can also consider a larger plot of land. It should not be forgotten that gardening can become a chore in old age. Here, too, it is important to look at the seller.

This also applies to the demands on the property itself: flexible floor plans can, for example, easily be adapted to a changed family situation. The following applies: Properties that are too large can just as much bypass overall demand as properties that are too small. For example, if you want to buy a smaller apartment, you are usually better off with a well-designed 2-room apartment than with an equally large 1-room apartment, as it can be used more flexibly. Besides, because of increasing life expectancy, how well the property can still be used in old age - or with what effort an age-appropriate renovation also plays a role is possible. For example, an old apartment on the fourth floor without a lift is less suitable than a ground floor apartment.

The dear money:

In your considerations, you should also ensure that the property of your choice remains financially viable under difficult circumstances, such as unemployment or separation from your partner. There are also different types of loans - from the popular annuity loan to the less well-known amortization loan. Talk to our financing experts about this.

Buy an old building or a new building?

Some prospective real estate buyers find it easy to make a choice: If you dream of high ceilings, stucco, and style elements, for example, you don't have to think twice about buying an old or new building. And those who want to be free to choose from the floor covering to the wall tile and the sockets' location are better off with a new building. But the requirements are usually less specific, and then it is important to weigh up the advantages and disadvantages of new and old buildings.

What speaks for/against old buildings?

Old buildings often have great charm, the surroundings have mostly grown. The floor plans are often such that they can be used in a variety of ways. For many, style elements such as very high ceilings are what makes these houses so attractive. But behind the stylishly renovated facade, there are often structural weaknesses that a non-specialist may not necessarily recognize. The higher heating costs associated with the often low energy standard of old buildings are also disadvantageous. And these are higher anyway due to the typical high ceilings in the rooms.

What speaks for/against new buildings?

Anyone who decides on a new building can, depending on the new building stage (still in the planning or already completed), incorporate their wishes—a further advantage: In the early years covered by specialist construction of hardly cost of maintenance. The energy standard is also high, which leads to low heating costs. But new buildings can also have weak points so that a careful inspection - if necessary with an expert - is the top priority. The initial building site atmosphere in new development areas is likely to be a disadvantage. Depending on the construction progress, it may take a few years in such areas until a homely environment develops.

Incidental purchase costs - What is added to the purchase price?

Remember that there are various ancillary purchase costs in addition to the purchase price of your property. You must also be able to finance any renovation measures from the total amount determined.

Depending on the state and property, there are not inconsiderable additional purchase costs of up to 13 percent of the purchase price. These consist of brokerage commission, real estate transfer tax, and notary fees. The usual amount of the broker's commission varies from region to region. In the whole of However, it has been in force since 23.12. The law states that the seller and buyer usually share the broker's commission. For buyers, this means a reduction in ancillary purchase costs by tens of thousands of $. If, for example, the seller and buyer share the brokerage fee in Berlin when buying an apartment for 500,000 $, the brokerage costs for buyers will fall from 7.14 percent to 3.57 percent due to the reform. Specifically, that would be the former brokerage costs of 35,700 $, which are halved to 17,850 $. The most important information on the brokerage fee's new regulation can be found under "Broker commission - new law: Who pays when selling/buying?”