Buying an Apartment

What should I pay attention to when buying a flat?

If you would like to purchase a property through ZIEGERT in order to fulfil your dream of owning your own home, there are several aspects to consider.
We support you in your search for the ideal property.

1. Define your personal wishes

Before you start buying an apartment, it is important to consider what you think the property should meet. Record these in writing. In this way you always have an eye on the general conditions of the desired property. Important criteria include:
– the residential location and the district of the property
– Size and type of property
– Number of rooms available

2. Take advantage of our consulting services

In the search for the real estate we stand for you with our rich specialized knowledge and our experience as partners to the side. As part of our advice, we will inform you about condominiums that meet your specifications and present you with suitable properties. We clarify all open questions, carry out inspections together with you and assist you throughout the entire process.

3. Advice on selection and financing options

Before buying, it is advisable to sound out your own budget and the possibilities of financing it, for example with a real estate loan. We support you in questions of financing and inform you about the corresponding offers.

4. Conclusion of the purchase contract

Once you have selected a property and would like to complete the purchase, you will receive the necessary contractual documents required for the purchase. Here, too, we are at your disposal as your contact partner.

5. Furnishing the apartment

You have found your perfect property, would like to furnish it and would like support with this? With our furnishing service, we take care of the stylish design of your apartment – naturally taking your requirements into account.

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Buying an apartment in Germany

How to find the perfect flat

City living is more popular than ever, and no wonder – urban environments offer a range of benefits, including easily accessible public transportation, shopping opportunities, and a plethora of leisure activities. The downside, however, is a lack of physical space in dense urban communities. If you’ve dreamed all your life of a spacious single family home, you might have to look beyond the city limits. But living downtown and living in your own four walls need not be mutually exclusive aspirations. A city flat can provide a viable alternative to a single-unit house. Before making that type of investment, however, it’s wise to review a few fundamental considerations. What purpose is your property meant to fulfil? Would you like to live in it with your family, or are you primarily looking to invest? The criteria you focus on when buying will vary depending on your answers to these questions.

Things to keep in mind when buying to invest

Real estate is, and will continue to be, a reliable and crisis-proof form of investment.
This applies both to city flats and freestanding single family homes. Owning real estate is especially advisable as a private retirement provision since the risk of depreciation is significantly lower than with other types of capital investment. Moreover, once you’ve paid off your instalments, you will own more liquid assets. Now is a particularly good time to buy since scarce residential space, rising rents, and decreasing interest rates in many cities promise lucrative returns. Even in times of inflation, an apartment will remain a secure investment; and if you decide to let, you can look forward to a regular incoming payment flow.

Buying for personal use

When looking to buy for private use, certain considerations take centre stage – first and foremost, the property’s layout. Beyond simply assessing the overall size, be sure to take floorplans into account as well. Too many nooks and crannies can prevent optimal usage, so you end up paying for space you’re unable to use. Flats with rectangular or square layouts, by contrast, tend to assure optimal usage. Would you love a bright kitchen or a spacious living room? Do you need a home office or an extra space for storage? These are all questions to keep in mind when choosing an apartment. As a rule of thumb, functional rooms should face north and residential rooms south. In family or shared living arrangements, a large restroom – or better yet, several restrooms – are essential.

When it comes to overall size, the number of future residents is key. Is there enough space? An individual bedroom for everyone? Larger flats are more expensive but provide enough space for all inhabitants. Since there’s no formally standardised calculation for residential properties, it’s a good idea to inquire with the seller in advance. Usually, 45 square metres per person is recommended.

What kind of property is right for me?

When choosing the kind of apartment you want, personal taste and needs should guide the way. Different types of flats have different pros and cons – and price tags to match.

A standard apartment is best suited for single-person households. It tends to be rented out fully furnished.

A penthouse is located on the top floor of a flat-roofed, multi-storey building. This type of fully detached flat boasts breathtaking views, but also comes at a higher cost.

Classic lofts are a rarity. They can be found in former warehouses or factories and offer plenty of space and high ceilings.

Souterrain flats are usually located at or below ground floor. This type of residence is suitable for the elderly, as it may require mounting few or no stairs at all. Many souterrain flats include a patio.

Maisonette apartments, or duplexes, are usually part of a multi-unit building. They typically span across two storeys.

Finding the right location

It’s almost impossible to overstate the importance of a property’s physical location. When looking for an ideal spot, it’s crucial to consider factors like the availability of parking spaces, commercial infrastructure, and noise that may be caused by nearby motorways or airports. And don’t forget to factor in commuting hours and proximity to parks and recreational areas! Prospective buyers with impaired mobility should also consider accessibility or lack thereof. This includes:
    • elevators
    • ramps
    • even floors
    • restroom doors that open outwards
    • easily accesible operational controls

You will find these and other points in our online Exposes and we take them into account in our personal consultation with you.

The pros and cons of property ownership

One of the main advantages of owning property is not having to pay monthly rental fees. Real estate, moreover, is a secure form of retirement planning and an ideal inheritance to pass along to children. The only potential downside of home ownership is less flexibility, which could become an issue should your circumstances and lifestyle change. In that case, however, you can always let your privately-owned real estate, provided you meet the requirements stipulated by your homeowners association. Renting may offer more flexibility and less responsibility, but it also means increased monthly expenses – and consigning yourself to a position of dependency.

Financing your property

If you’re toying with the idea of buying real estate, you should think about viable ways to finance your endeavour. That means getting a clear and realistic idea of the state of your personal finances. It’s always best, after all, to draw as much as possible from your personal funds – so you can depend as little as possible on external financing. First, draw up a plan that includes your existing resources, including all monthly revenue. A financing plan also lists the price of the potential property, including ancillary costs such as those incurred for brokers, notaries, or lawyers. Draw on our network of 300 independent banks to receive optimal advice from competent consultants who can help set up a financing scheme tailored to your personal needs and circumstances. Interest rates, it’s worth nothing, are currently at an all-time low, making this the perfect time to buy!

Buying real estate in Germany

On average, purchase prices for apartments have increased 8.55 percent since last year, up from €2,258 per square metre in the first quarter of 2018 to €2,451 a year later. In addition, there’s been a decrease in new construction for residential properties. Overall, the owner’s market in Germany is multifaceted: while rents and purchase prices are decreasing in economically weaker regions with declining populations, they’re just as rapidly increasing in dynamic and economically flourishing areas.

We advise and support you

We are your competent partner, advise you during the whole process and consider your individual wishes. When purchasing the ideal condominium, we are happy to make our knowledge available to you at any time and ensure that all necessary steps are taken in your best interests.

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