Are you going to move to Germany, and need to rent or buy a property? Or, are you a German citizen and want to buy a house? Then reading some information related to real estate in Germany can be useful for you. Here, we want to give you some insights to the process of buying a property in the charming Germany, so letís check the following information.
Buying a house in Germany
Maybe you are interested in buying a real estate in Germany,†in this case a house, you can find some offers posted by private sellers or real estate agents, in daily newspapers and of course in online real estate marketplaces, where for sure you can find properties at a reasonable prices.
Having the offers, you can evaluate the location, characteristics, and the price of the properties. Try to find one that fulfills your requirements and your budget. Consider that an inexpensive home, may require renovation that means additional investment over the purchasing price, so consider getting a mortgage that can be a great help to finance your property.†If you want to buy a house that costs more than you can actually afford, you can apply for a mortgage, so†you would just put the new place that you are going to acquire as a guarantee for a loan. The payment would be divided in small quotas.†
Besides, real estate prices vary according to the location and according the property you want to acquire in Germany. Just to have an idea, a 3 bed apartment in Berlin region, dating back to 1958 and modernized during 1986 with a bathroom, a kitchen, a living room and two bedrooms actually costs around £76,280.†
In order to make the purchase, you can contact a real estate agent or make it by your own. Some offers advice if there is a real estate agent involved on it ("von privat" - no agents are involved), in case you want to do this without the intervention of a real estate agent.
In your process of buying a house, it will be necessary that you have the assistant of a team that can include a lawyer, that will instruct you on your general duties and rights, a tax accountant, an architect (specially if the property has been renovated), and a notary to sign the contract.†
Once, you have chosen a property, and once you have agreed with the seller the purchase price, the next step is signing the contract in the presence of a notary, it guarantees the transaction was carried out, so make sure to read carefully the contract and make sure you understand the terms of it.
Besides, the costs that come along with the purchasing of the property in Germany, that can be about the 10% of the purchase price, can include: the property tax which vary from city to city, the notary fee, some administrative costs, and if you donít know the language the cost of hiring an interpreter.
Info for †expats
One of the frequently questions that people who are not from Germany and who want to purchase a real estate in this awesome country ask themselves, is if they need to be German residents to buy a house. Well the answer is no. Anybody who has a valid passport can buy a property in Germany, but you must know that it doesnít give the right to immigrate to the country.
If you plan to move to Germany and before getting a VISA, you buy a house, you must think about it many times. First at all, we recommend you to get the residence VISA, an then start with the process of getting a real estate in Germany.