Buy a house

the promotion is only valid for private sellers who have not advertised any properties on immowelt in the last 24 months.De in the last 24 months. The action runs until 28.02.2021 unrestricted throughout germany for all properties available for rent on immowelt.De with a 14-day starter package. In addition, the currently valid general prices apply. The ad can be cancelled at any time at least 1 day before the expiration of the term. Otherwise it is automatically extended until it is cancelled by the provider.

* 1 week advertisement period applies only to the search for a new tenant.

The promotion is only valid for private sellers who have not advertised any properties on immowelt.De have advertised. The promotion runs until 28.02.2021 unrestricted throughout germany for all properties available for rent on immowelt.De be hired with a 14-day starter package. In addition, the currently valid general prices apply. The advertisement can be cancelled at any time at least 1 day before the end of the term. Otherwise it is automatically renewed until it is cancelled by the provider.

Buy a house in the biggest cities

Buy a house – how to realize your dream of owning your own home

Nearly one in five renters in germany plans to buy their own property – for example, an apartment or a house – in the near future. Overall, Germans invest on average five times their annual net income to be able to afford a single-family home. This is the result of the "wohnen in deutschland" study. It was carried out on behalf of the verband der sparda-banken at the end of 2013. In view of the financial burden, the purchase of a home needs to be well considered. In the following, you will learn what to look out for when buying a house.

advantages and disadvantages of buying a house

Buying a single-family home. Photo: M.Rosenwirth/fotolia.Com

If you are thinking of buying a house, you should get a clear picture of the advantages and disadvantages of owning a home. One of the undisputed advantages is the independence from rising rents. Furthermore, a home offers enormous freedom of decision and design and is a good investment for old age.

However, you should be aware that real estate financing is often about 20 percent more expensive than renting a comparable house, says armin bodemer, financial services consultant (IHK).

In addition, land transfer tax, notary fees and, if applicable, estate agent fees must be paid, which can amount to between around five and around 15 percent of the purchase price. This number varies by state and also depends on whether or not a realtor is involved. Furthermore, homeowners are responsible for the care and maintenance of the house themselves and have higher ancillary costs than tenants. This is because they have to pay for expenses that tenants do not have to bear. These additional costs include the following:

• Management costs
• Costs for maintenance and repairs

• Bank charges, interest
• Maintenance reserves

Ultimately, it is a question of life circumstances whether the advantages or disadvantages of buying a house outweigh the disadvantages. If you have to move frequently, you’re better off in a rental property. The same applies to people who place great value on independence. For people with a secure job, enough income and the desire to live in the same place for a long time, owning a home is usually worthwhile. Which of the two options is better for you can be determined online with a rent-or-buy calculator.

Buying the right property

There are many houses, but only a few have the potential to become a beloved home for the seeker. It’s not just the size that matters. The following factors are also important when looking for suitable four walls:

• Good transport connections
• Quiet location: noise pollution from highways and main roads reduces the value of the building
• Orientation of the house: a southern or southwestern orientation lowers heating costs. In addition, more light comes into the interior.
• Infrastructure: kindergartens, schools, pharmacies, doctors and shopping facilities in the surrounding area make everyday life easier and contribute to the value of the property.

Real estate search in the newspaper. Photo: fiedels/fotolia.Com

The most important thing when looking for real estate is to keep your eyes and ears open. Houses in good locations often find a buyer without an advertisement. Word gets around quickly when a house becomes available in a popular area. Nevertheless, it is important to study real estate advertisements. Since the texts in the real estate advertisements of daily newspapers are very briefly formulated, most interested parties inform themselves on the Internet. On the relevant real estate portals, the descriptions of the houses on offer are very detailed and include photos. In this way, you get a first impression of the property before the viewing.

Buyers usually search longer than tenants until they find a suitable offer. For this reason, it is worthwhile to complement the proactive property search with the publication of a search advertisement. The advantage of a want ad is that the offerer can approach the seeker. Search ads are possible in newspapers as well as in online portals. In contrast to a newspaper ad, however, you don’t have to be brief with an online want ad for cost reasons.

real estate financing: how much house can i afford??

Anyone buying a house must plan the property financing carefully. Photo: singkham /photolia.Com

For most people, buying a house is the biggest investment of their lives. Since financing a house often takes decades, it is important to plan it well. First, you need to add up the purchase price and the ancillary costs – including land transfer tax, broker commission, land registry and notary fees, and possible expenses for renovation work. If you subtract this amount from the equity, you are left with the amount that has to be financed with borrowed capital.

Ideally, the equity invested covers 20 percent of the purchase price and all ancillary costs. However, most people don’t have that much money on the side. Minimum for the house purchase should be an equity capital in the amount of the complete additional costs.

Homebuyers should not invest their entire savings in their own home, but should keep a portion liquid as a cushion for emergencies. It often takes 20 to 30 years until the house is paid off. A lot can happen in this time: what if only one of the couples is still earning money?? Or the salary is lower after a change of employer? Sickness or occupational disability should also be taken into account. A rule of thumb says that a maximum of 40 percent of net income should be spent on housing. This also includes the ancillary costs for the maintenance of the house. Monthly costs of 2.50 to three euros per square meter of living space are a realistic value here.

Practice tip

With an online budget calculator, you can easily and reliably determine the maximum cost of your house.

Each type is different: detached house, semi-detached house and terraced house

Detached house with balcony. Photo: JS/fotolia.Com

As different as the people are, so are the types of houses. Among the most common are the detached family house, the semi-detached house and the terraced house. Depending on location, the detached single-family home is the most expensive. It is usually designed for a family with two to four children and offers enough space to develop freely. Since detached houses are surrounded by a plot of land, they ensure a great deal of privacy.

Buying a semi-detached house. Photo: magda fischer/fotolia.Com

In a semi-detached house there is also room for a family. As the name suggests, a semi-detached house consists of two houses built directly together on one side. each semi-detached house has a separate entrance. If you are thinking of buying a semi-detached house If you want to buy a house, you should be aware that the privacy is somewhat less than in a detached house. The residents can use only one side of the property. In addition, the garden is directly connected to the neighbor’s garden.

Buy a terraced house. Photo: kara/fotolia.Com

The most cost-effective of the three house types is the terraced house, also called chain house. It is characterized by the fact that it is connected with other houses to form a row. Every house has its own entrance and usually a small garden. However, the gardens are adjacent to each other, so privacy is not as great as in a detached family home. The advantage of the terraced house building style is the comparatively lower heating costs. Because the houses are directly connected to each other, less heat is lost through the exterior walls.

Buying a used house – what to watch out for

Existing houses are usually less expensive than new buildings. For this reason, many interested parties decide to buy a used house. However, you have to take the building as it is. Special requests can usually only be realized to a limited extent and at a corresponding cost.

If a second-hand property is on the shortlist, the structural substance should be checked thoroughly. In existing houses, there are often defects that are not visible at first glance. These include, for example, mold and static problems. For this reason, it is advisable to bring a surveyor with you to inspect the house. This records the damage and determines the costs for necessary renovations. Since these costs are borne by the property buyer, they should be added to the purchase price.

If you want to buy a used house, you should ask to see the energy certificate. Photo: gina sanders/fotolia.Com

When viewing the house, the following characteristics are important:

Structural substance:

Interior inspection of the house:

• Size, number and cut of rooms
• Condition of kitchen and bathrooms
• Heatability of the rooms
• Condition of the heating system and electrical system
• Is there damage and moisture on interior walls, floors and ceilings??
• Quality and condition of flooring, interior doors and stairs

Exterior inspection of the house:

• Quality and condition of the exterior and additional structures such as garage, gates and fences
• condition and material of the exterior walls
• condition of roof, gutters, chimneys and dormers
• Waterproofing of foundation and basement against moisture
• Condition of windows and doors

Tips for buying a new home from a builder

Construction plan for new houses for sale. Photo: gina sanders/fotolia.Com

people interested in real estate often buy new houses from a builder. the builder is responsible for the entire planning, construction and sales process. If you want to buy a house that has to be built first, you can agree on individual special requests with the builder.

For example, it is possible to make two small rooms out of one large room in the floor plan, or to have a say in the furnishings and fittings in addition to the room layout. However, this usually results in higher costs.

Another advantage is that buyers of a new house hardly have to expect repairs in the first few years. In the event of construction defects, the statutory warranty period applies for a period of five years (§ 634 a paragraph 1 BGB). Within this period, owners can assert their claim for rectification of defects with the construction company, unless a different deadline has been effectively agreed in the contract.

If the builder goes bankrupt, the completion of the house can be delayed for a long time. Photo: marco2811/fotolia.Com

The creditworthiness of the builder plays a decisive role when buying a new building, because the insolvency of the builder can ultimately affect the buyer. Therefore, the interested party should obtain an economic information about the builder. If the completion of the planned new building is delayed due to insolvency, buyers pay without getting anything out of the property. In the worst case, they have even paid for services that have not yet been provided. Not to forget the double burden: buyers of a house for construction must pay not only the costs incurred for the planned home, but also those for the previous home.

If the interested party has decided to buy a newly built house, he should receive the contract at least 14 days before the notarization date and have it checked by a notary public. The expert provides information on pitfalls and disadvantageous regulations. Furthermore, it is advisable to look at the land register extract and check the construction and house description together with the contract for completeness.

Especially in the construction description the devil is in the details. Inaccuracies or the lack of certain services can unexpectedly increase costs. For example, lay people often assume that a turnkey house is ready for occupancy. However, there is no universal definition for the word turnkey. So buyers may still have to pay a large amount on top if they want a house that is ready for occupancy. The construction description should list all the services that the builder must provide. The following information is important: