Apartment Purchase New Building Project
What do you pay attention to when buying a flat in a new building project?
Anyone wishing to buy a condominium as part of a new construction project is well advised to plan the necessary steps in advance. We support you with professional know-how in the search for your dream property and advise you intensively and competently during all phases.
Step 1: Define your requirements and wishes
- how big you want the apartment to be,
- in what position she’s supposed to be,
- how many rooms you need,
- which type of apartment you prefer and
- in which district you’d like to live.
Step 2: Our advice
Step 3: Decision and information on financing
As soon as we have found a suitable new building together, the question of financing is raised. Here, too, we will assist you in word and deed and show you the existing possibilities.
Step 4: Signing the contract
Step 5: Furnishing and moving into the new apartment
Across Germany, several residential construction projects will be completed between 2020 and 2021
Thanks in part to historically low interest rates on home loans, many Germans are buying – or thinking about buying – flats or houses. Some see these properties as a form of investment; others plan to live in them. A recent study has shown that owning a property makes people happier. Almost 80 percent of renters surveyed reported that they dreamed of owning a home, while 93 percent of homeowners surveyed reported feeling positive about having bought or built one. If you, too, would love to be a homeowner, you’ve come to the right place. At ZIEGERT, you’ll find newly built properties straight from the developers – all you have to do is move in! Home ownership, incidentally, is more popular in big cities than in the countryside; in Berlin in 2018, the average time between a property going on the market and being sold was a mere 15 days, a record-breaking low.
Working with a construction company
In addition to working directly with a developer, prospective property owners may also choose to work with a construction company. Some construction companies are specialised in newly built properties. Unlike a developer, a construction company is responsible only for putting up a building; the plot itself belongs to the building contractor. Public construction projects – that is, those commissioned by the city or federal state – are usually contracted to large construction companies, which cover all aspects of construction, including site coordination. Smaller construction companies, for their part, will usually only provide a single service.
Buying a newly built property from a developer
There are many ways to buy property. One of them is through a real estate developer, who will usually offer turnkey houses and flats, including the land they’ve been built on. Developers work at their own risk until the sale of the property, which is usually ready for occupancy by the time the sale is finalised. Buyers, for their part, are required to make payments at regular intervals to finance different stages of construction. In general, developers tend to offer newly built units, including flats, single-family homes, town houses, or customised real estate. Browse our website for offers across Germany.
The advantages of buying a newly built property
A newly built property has many advantages compared to an already existing one. For one thing, running costs tend to be considerably lower; since new buildings comply with the latest technical standards for heat and noise insulation, they are significantly more energy efficient than their older counterparts. Then there’s the fact that buyers can participate in all decisions regarding amenities and room partition, with many developers offering customisable planning options. Unlike already existing properties, newly built units require minimal costs for maintenance and renovations and usually include parking spaces from the earliest stages of planning – no more driving around aimlessly for a spot!
Anticipated costs for newly built properties
A well-planned financing scheme is key when buying a newly built property. This should include an extensive overview of available private funds. When buying independently, it’s important to remember ancillary costs, such as real estate transfer taxes and notary fees, which can quickly add up. Note that property developers do usually sell land plots and properties at a fixed rate. Any construction or planning tasks that buyers decide to take on for themselves will of course be deducted from the overall purchase price. In addition, prospective buyers can apply for government-backed funds. These are particularly worthwhile if the newly constructed property is built in an energy-efficient way.