Due to the current low lending rates, buying real estate is very interesting and a valid option for many, regardless of what they are planning. H tips for the right property purchase so that you can enjoy your new property, regardless of whether you use the property yourself or rent it out.
- Take your time choosing the right property
Before you buy a property or decide on the right property, you should clarify a few central points in order to have a good basis for decision-making: Do you want to move in yourself or rent the property and use it as a capital investment? Should it be a new building or a used property?What does the property have to do? What are your wishes? What is yourbudget for the planned property purchase?
- Pay attention to the correct location of the property
When examining real estate, you should always look to the right location. Ask yourself if you or a potential tenant would like to live in the area. This is also important for a later real estate sale in order to achieve a good sales price.
- Buy with sufficient equity
When buying real estate, it always depends on the available equity.In principle, it is advised by the technical side that you can use at least 20 percent of the purchase price as equity. Then the bank will also play a part in the financing. The amount of equity has a significant influence on the amount of the interest rate, the repayment (including the term of the contract, the amount of the repayment installments, etc.) and the collateral to be deposited.
- Take financial reserves into account
When determining your finances, you should definitely plan for financial reserves. For example, a maintenance reserve must be taken into account, especially for used properties. Unforeseen expenses and other costs do not become a burden and you do not get into financial difficulties.
- Obtain experts if necessary
In order to determine the real property value, it is advisable to check the real estate website once and have a corresponding appraisal carried out by a quadwalls expert before buying the property. This makes sense especially for used houses and apartments.