Know your Budget

Additional purchase costs in Germany

In contrast to most of the other countries, the additional purchase costs a buyer has to pay are quite high. That might be the reason why Germans buy property only once in their lifetime.  These costs can sum up to an additional 16% – depending on the federal state you buy.  You need to consider this when you calculate your

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Find a Property

Where to find property

If you are searching for property in Frankfurt or Germany there are in general 5 sources where you can find them: Real Estate AgentsThere are big nationwide real-estate firms (e.g. Engel & Völkers, Re/Max or Von Poll). Nevertheless there are also a lot of local agencies which are solely focusing on the area you want to purchase your apartment or

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Check the Property

Avoid follow-up costs by checking the property

Once you have found a property that you like, you should make sure that it not only looks good at a first glance, but is also in good condition. With such a big financial decision you should make sure that you don’t buy a pig in a poke. In principle, you have two options to examine your property. Either you

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Financing a Property

Interest rates in Germany

Interest rates for property loans in Germany are at an all-time low.You can get borrowing rates from as low as 0.25% p.a. fixed for 5 years or 1.06% p.a. fixed fro 25 years*.  Nevertheless, your personal interest rate is dependent on several factors: Loan  Conditionse.g. value of property, mortgaged %/own capital, loan term, annual redemption Property valuatione.g. type (house or

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Additional purchase costs in Germany

In contrast to most of the other countries, the additional purchase costs a buyer has to pay are quite high. That might be the reason why Germans buy property only once in their lifetime.  These costs can sum up to an additional 16% – depending on the federal state you buy.  You need to consider this when you calculate your

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Buy the Property

Buying the property – the notary appointment

As soon as you have agreed with the seller on a purchase price, a notary appointment has to be arranged, because real estate purchases in Germany are only effective when they have been notarized by a notary and the transfer of ownership has been recorded in the land register. What happens before the notary appointment First of all, a notary

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Move in (or rent out)

Mandatory and optional Insurances

There are a bunch of insurances which are offered for property owners.  A homeowner insurance (Wohngebäudeversicherung) is obligatory required from banks for your mortgage. If you are buying an apartment in an apartment building this insurance is included in the auxiliary costs.  Normally this insurance does not cover natural hazards (Elementarschäden). Such an additional insurance policy should be added if your property is close to

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