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Expert: Buy property or not? Berlin, Hamburg, Cologne, Düsseldorf and Munich

Many people play with the idea of buying a property in one of the popular cities. These cities include Berlin, Hamburg, Cologne, Düsseldorf and Munich. But to find the suitable real estate is not at all so easy and as a layman it is often difficult to evaluate whether it is worthwhile to invest in an apartment or a house as an investment. We did an interview with an expert for you.

Interview with real estate expert Jan Rickel from IHV – Die Immobilien Makler.

Capital investment – Is it worth it?

FIV: We met last month to discuss house sales in general and the future of living. Today we wanted to know more about the hotspots in Germany. We all know the news of rising real estate prices in Berlin, Hamburg, Cologne and especially Munich. Rents, but also land and purchase prices are exploding here. Many people are thinking about investing in real estate – sooner or later. But is real estate a worthwhile capital investment at all?

That depends. It depends on how long I want to hold this investment. In the long run at least a real estate is a very good investment. I’ll tell you a personal story: When I wanted to buy a 2-room apartment in Frankfurt more than 20 years ago, gab´s had a lot of discussions with my parents and friends. They thought I was crazy in view of the returns that could otherwise be earned on the market (time deposits, gold, stocks, etc.). With a rental yield of 5% at the time, one looked rather old at that time alongside the usual forms of capital investment.

FIV: And then why did you still get into real estate?

Because the value of this apartment has risen dramatically in the following years. And that was already apparent at that time! Actually, many people, including myself, initially believed that the price increase on the housing market was coming to an end so slowly but surely. But the opposite was true. Apart from the one or other dent or two, the value development of real estate has constantly risen. So I could sell this apartment today for a multiple of the original price. I paid the loan from then via the rent and at the same time my small equity capital invested at that time grew without my involvement. And this is far higher than with the vast majority of share packages or other conventional investments.

FIV: And that works everywhere?

That would be too good to be true! Here the location of the apartment or house is very important. If I had bought a big house somewhere in the countryside, far away from all the hustle and bustle, then things would probably have turned out quite differently. This does not mean that a house in the country is basically a bad investment. In the so-called “fat belt” of conurbations, for example, property prices have also developed rapidly. If the location of the purchased property is regarded as very desirable for living, then not much can go wrong in the long run and the one or other “dent” in the value development is to be absorbed. By the way: it is well known that share packages or funds also have one or the other bend in their performance. The decisive factor is the so-called investment horizon, i.e. the time I give my capital investment to develop its value. Fast money cannot be made in the real estate business. In the long term, however, it is a very solid and secure investment.

Is there an end in sight?

FIV: But isn’t the boom slowly coming to an end?

Of course, I can’t predict that for sure. As I said: even 20 years ago, many real estate experts believed that the price trend for purchase and rent had come to an end. That was not true, as we have seen to this day. How the prices for the purchase of real estate – and by the way also for the rent level – change depends above all on how much living space will be demanded in the future and what new living space can be created. In any case, I cannot see any saturation of the real estate market in the long run.
The question remains: how is the interest rate level developing? If it becomes more expensive to borrow money to buy real estate, then the real estate market cools down again. And then we are again at the “dents” mentioned above. The investor has to endure them.

FIV: Should I buy a property now, or should I wait until prices fall?

If I knew if and when prices would fall, I would probably advise you to wait and see. Especially if the price reduction for the property would not be eaten up by significantly higher interest rates in the financing. But since none of us has the proverbial glass ball, I advise: calculate exactly what I can afford and then look for and buy the matching object in a sought-after location.

Real estate market in the big cities

FIV: This brings us to the areas in Germany where real estate values have been rising for a long time. Let’s look at the four top regions: Berlin, Munich, Cologne and Düsseldorf. Let’s start with Berlin. How do you rate the real estate market in the capital?

It is unbelievable how Berlin has developed in recent years. Apartment houses were then sold for a button and a clicker because nobody wanted them and now domestic and foreign investors are ripping themselves off for real estate in our capital. Berlin is hip and also “the place to be”. For many young adults it is the coolest city in the world, even people from other European and non-European countries are drawn to Berlin.
Which district is currently “in” changes in Berlin almost as fast as in any other major German city. In the meantime, the boom has also affected the suburbs. Reinickendorf, for example, increased real estate prices by about a quarter last year. This is insane! Even previously unattractive districts such as Marzahn-Hellersorf or Spandau have seen significant increases in purchase and rental prices. This in turn means that municipalities in the immediate vicinity of Berlin have a much higher population growth rate than Berlin itself. Potsdam, Teltow, Bernau or Falkensee are on the rise. It remains to be seen whether prices there will develop so dramatically.

Increasing property prices – buy or wait?

FIV: How do you rate the rising prices in Berlin and the surrounding area? Should we buy a property or wait and see?

I believe it will be a long time before the market in Berlin and the surrounding area calms down. So now is certainly a good time to buy, because in the long run the prices there continue to rise and now the interest rate level is still low.

FIV: Let’s go south, to Munich. Munich is regarded as the hotspot for rising prices – regardless of whether it is a condominium or a detached house in the suburbs. The Handelsblatt reports a price development of +47 percent. What makes the Bavarian metropolis special and how is the market developing here?

As long as the growth of the corresponding economic sectors in Bavaria does not slow down, experts will be sought there and they in turn will be looking for housing. Especially when the specialists of the respective industries, and this is still the IT environment and other service companies in Munich, do not find jobs elsewhere. Experts estimate that by 2035 there will be about 350,000 new arrivals in the greater Munich area. Municipalities such as Dachau, Fürstenfeldbruck or even Landsberg am Lech are already attractive as places to live for people who commute daily to Munich.
The pressure on property prices and rents there is also being increased by the still high recreational value of the region. For many people, the proximity to the mountains and the Mediterranean Sea is much more attractive than – say – the North Sea or Holland. Ultimately this means that in the Munich area, salaries are usually higher than elsewhere in Germany. However, the prices for buying or renting apartments usually eat up this “surplus”. Especially for families this is a real problem…

Purchase real estate in Munich

FIV: Against this background, what do you think about buying real estate in Munich?

Anyone who gets one and can pay for it should buy safely from the perspectives. In relative terms, however, the performance and rental yield in other selected areas of Germany is by no means worse than in Munich. I’m thinking of Berlin, the Rhine-Main area or the Cologne-Düsseldorf axis.

FIV: You didn’t mention Hamburg now. Is there a reason for that? Away from publicity, do objects like the Hamburg Philharmonic generally enhance the city or just a part of it?

Sure. Hamburg has also experienced a steep development. A few years ago, the image of the city was still rather grubby, but a lot has happened there – especially with the Hafen-City and many other urban development projects. Hamburg as a whole is far removed from price developments such as Munich.
Of course, construction projects such as an Elbe Philharmonic Hall enhance a city as a whole. Not alone, though. Overall, cultural institutions, but also other large “lighthouse projects”, promote the image of a city. However, I would like to see the money more often in many smaller developments. In all major projects, for example, the individual quarters must not be forgotten. Of course, it’s nice to see this building from the Elbe. However, the renewal and maintenance of the parks, the upgrading of playgrounds, the subsidization of kindergartens in the individual districts will lead more to the whole city developing a positive pull They will become more attractive for the people who now live there and for newcomers. This means growth in the number of inhabitants, tax revenue, etc. That is why, to return to the question once again, I am rather sceptical about investing in a major project of this scale.

Hamburg from above – The Hanseatic City

Purchasing real estate in the Hanseatic City of Hamburg

FIV: Hamburg is not that far away from the sea. The North Sea and Baltic Sea are popular holiday regions. So if I buy a property in the north, would I rather buy it in the countryside than in a holiday home or in the city itself?

The same applies to Hamburg as to Berlin and Munich. Often even the prices per square metre and the expected rents are directly comparable. Using an apartment in the city as a holiday home can be problematic. Many cities have put a stop to the rental of holiday homes (Airbnb etc.). The risk of rent loss would be too high for me. The holiday home in the countryside only makes sense where there are really good occupancy rates – and best of all throughout the year. In the “Alte Land” or in “Vierlanden” – to name just a few areas in the direct vicinity of Hamburg, this is certainly not the case. Moreover, one should be a little better versed in the tourism rental business if one does not want to suffer a shipwreck with his investment in a holiday property by the sea. I therefore advise most people against doing something like this.

FIV: We still have the Cologne / Düsseldorf region. There are currently about two million people living there. Buy or better rent? What are your tips for Cologne and Düsseldorf?

Who can, should buy! Especially Düsseldorf and the surrounding area are not much behind the price development compared to Berlin and Hamburg. However, the following applies to both cities: take a close look at the district in which the property is located. In Cologne and Düsseldorf, it has not yet been noticeable that former “shadow districts” are becoming the absolute in-city districts overnight. In Düsseldorf, Oberkassel is still on the list as one of the “top addresses”, while Eller and Flingern are rather undervalued. In Cologne, the most sought-after districts have been called “Rodenkirchen” and “Bickendorf” for many years. “Chorweiler” or “Nippes” are rather something for connoisseurs of the scenes…

FIV: What is the difference between the attractiveness of the two cities?

I’m sure you don’t expect me to answer that seriously. There is still no binding answer to this fundamental question of Rhenish existence. Maybe this much: in both cities there is delicious beer and nice pubs.

Thank you so much for the interview.

Interview with real estate expert Jan Rickel from IHV – Die Immobilien Makler.

Buy your own apartment – procedure, costs, advantages & disadvantages

As soon as you move into your first own apartment, most people say: rent, rent, rent. Every month you go to work many hours to spend most of your time on the next rent, which is due at the beginning of the month. No wonder that many young people become friends with the idea of buying a condominium as soon as possible.

Buy a condo – What to consider?

The purchase of a real estate brings many advantages, but also disadvantages with itself. When the word property comes up, most people first think of the classic single-family home. But condominiums can also be an interesting alternative. If you are thinking about whether it might be useful for you to buy a condo, then you should definitely stick to this article until the end. We not only tell you the advantages and disadvantages of buying a condominium, but also explain the necessary requirements and the procedure.

Advantages

Before one deals with the prerequisites and the procedure, one usually asks oneself: What are the advantages of buying a property for me? The answer to this question depends on various factors.  If you have previously lived in a rented apartment, then the following advantages arise for you:

1. Money in everyday life & security in old age

If you have saved enough money to buy an apartment, you are exempt from monthly rent payments. That means for you a lot more money a month that you can spend on other things. Whether it’s one or two holidays, restaurant visits or special events, life can be made more varied without rent payments.

If you pay off your condominium in installments, you look forward to the possibility of saving your hard-earned salary and spending it on something else at some point. Usually it is a dream of a lifetime, which should be fulfilled, like a high-quality expensive car, or a holiday home.

It is not uncommon for older people to find themselves in a situation where, after working hard all their lives and finally having time to travel, they do not get enough pension to fulfil their dreams. If they live in a condominium, they are exempt from the rent and can invest their pension in beautiful things.

  • no monthly rental payments
  • More money for beautiful things in life
  • Saving for life’s dream
  • Ageing protection – spending your pension on other things

2. No fear of problems

If you are a tenant of an apartment, you always have to expect that your landlord will register your apartment as personal use. No matter how the situation arises, the notification is often a shock for the current tenants. No wonder, because this notification means stress. As quickly as possible a new rented apartment must be found, which is not only affordable, but also where the location and other criteria are right.

But if you’re the owner, you don’t have to worry about such things. Nobody can kick you out because you alone decide how long you want to stay in your apartment. Even if you decide that you want to emigrate, you can do so, rent your condo and earn money at the same time.

  • No fear of being thrown out by landlords
  • Earn money by renting is possible

3. Freedom of decision

When it comes to the design of a rental apartment, there are often regulations that are determined by the landlord from the outset. Although it is permitted to paint the walls or change the floor coverings, nothing in the building fabric may be changed. So if you want to remove a wall or have something rebuilt, this is not possible without further ado.

However, if it is your property, there are no limits to your creativity. You can design your home the way you like it and feel good about it.

  • Creativity without limits
  • high feel-good factor

Disadvantages

Despite the many advantages, it is also important to consider the negative side of buying a condo. Here we have two disadvantages for you, which you should not ignore for your decision.

1. Administrative expenses

An apartment means care. No matter if you move into your apartment yourself or if you decide to rent it out. From now on there is no longer a landlord who is responsible for the maintenance of the apartment. That means you have to take care of everything yourself. If you are a landlord yourself, you must always be approachable for your tenant. For the maintenance of your apartment there are compulsory costs, which you have to pay.

  • Apartment requires maintenance
  • Landlord must be available for tenants

2. Neighbors

A big disadvantage when buying a condo are the neighbors. Of course you can be lucky to have the ideal neighbours who will never disturb you and who will always make you happy to meet you next time. Unfortunately, this is not often the case. If you are unlucky, after buying the apartment, neighbours move in with whom you do not get along well. Unfortunately, there is often no right of co-determination here.

  • No guarantee for pleasant neighbours

Search condominium: Private or real estate?

If you decide to search for a condominium, you must ask yourself important questions beforehand. One of these important questions is whether you want to find your condo privately or hire a real estate agent. Many people reject the idea of hiring a broker immediately because it is assumed that hiring a broker is automatically associated with high costs. In some cases, however, this is a misconception. If you would like to find out more about the advantages and disadvantages of hiring a broker, we have an interesting article for you.

Costs of purchase

But how do the costs of a condominium actually make up? What are the components of the price you pay for a condominium? There are various factors that influence the purchase price of a home. One of the most important factors is the city. Is it a popular city where many people want to live, or is it an unknown smaller city? The more popular the city, the higher the property price. The location within the city also plays a role. Living right in the city centre close to sights, shops and in the midst of the hustle and bustle tends to be more expensive than an apartment on the outskirts.

Another important factor is the condition of the apartment. When was the last time the apartment renovated, what value-enhancing elements are installed? If there is any damage in the apartment, this will also affect the price. For this reason, it always makes sense to take a close look at the interior of an apartment.

Especially if you decide to live in an apartment on the outskirts of a big city, it is all the more important to have good transport connections. If this is the case and one can be in the city centre with a car within a short time, this also increases the value.  Not everyone who decides to buy a condo also automatically has a car. Not to mention the fact that many people also rely on public transport when their car is broken. A good transport connection also ensures that the value of your property increases.

On the real estate market there are always local prices, at which a real estate price orients itself. Depending on how much similar properties are worth in your area, this will also affect the price. So if you’re looking to buy a condo but don’t have too much money, it might be worth looking in a region that isn’t quite as popular.

As you can see, there are many different factors that affect the price of a property. If you have limited financial resources, you can go through the points and consider which points in the list are not so important to you. If you can compromise with yourself, this could have a positive effect on the property price.

  • City
  • Good transport connections
  • Extended infrastructure
  • Regional property market
  • Condition of the apartment

The financing of a condominium

What are the actual financial models? This question is particularly important for those who want to buy a condo but have not saved enough to pay for it immediately. We have found different financing models for you, so that you can consider whether one of the possibilities is suitable for you.

The most popular cities in Germany

Job or study

Apartments are wanted everywhere. The most popular condominiums are in the major cities of Berlin, Munich and Hamburg. No wonder, because most people would like to live in one of the big cities. Here we have a ranking for you, which describes the 10 most popular cities. The northern German port city of Hamburg is repeatedly regarded as the most popular city in Germany. No wonder that the demand for housing is not necessarily low. Rental properties as well as condominiums are in high demand here. In Hamburg there is not only the beautiful Alster, but also the Speicherstadt and the HafenCity. But why is that so? Why does everyone want to live in the big cities?

Usually it is one of three reasons why you decide to move to one of these cities. One of these reasons is the job or the study. It can happen very quickly. Suddenly a job that is better paid is offered in another city and you are faced with the question: Should I move and leave my hometown? For most, the answer is clear, because a better salary can make a huge difference in life. Suddenly you have money for something you never dreamed of. The money for a second family vacation in the year, for a new car, or also for a monthly attendance in the Kosmetikstudio.

After graduating from high school, almost all graduates feel the same: out of their familiar environment and into a new adventure. Even if for many it is often only a stay abroad that is chosen, others decide to study in a completely different city. What is the best way to become self-employed? Exactly by freeing yourself from your parents and learning to stand on your own two feet. Often it is not only the isolation from one’s parents that makes one move to another city to study, but sometimes the desired course of studies is only offered in another city, so that one is forced to move.

Love

Another reason that is often responsible for a move is love. Many know it, the partner is forced to move to another city because there is a job offer waiting for him. But what is the horror of most partnerships? A long-distance relationship. Very quickly the decision is made and one decides to accompany the partner. The search for a rental apartment or condominium begins and presents most couples with a difficult task. The new life in one of the most popular cities in Germany begins.

New life

Many have had the situation before. Nothing in life goes the way you imagined it would. The job burdens you more and more, old friends turned out to be false friends and in love you are always unlucky. Many then come to the point where they say: A new beginning must come here. Everything that connects one with the old life is replaced, the apartment is terminated, the job is terminated and the contact to old friends and acquaintances is completely broken off. Also for a new beginning one of the most popular cities of Germany is chosen gladly. No matter whether Hamburg or Munich the search for a rented apartment, a condominium or a house is particularly difficult in these cities. It is therefore not uncommon for many people to decide to hire a real estate agent. You will also find out in this article which advantages result from this.

Ranking of the most popular cities:

  1. Hamburg
  2. Dresden
  3. Munich
  4. Lübeck
  5. Freiburg
  6. Berlin
  7. Potsdam
  8. Trier
  9. Weimar
  10. Düsseldorf

Tips: Step by step to the condo

You have weighed the pros and cons sufficiently? Your decision has been made and you want to take the plunge and buy a condo? Then you will now learn the exact procedure so that you can prepare yourself sufficiently.

Since spending a sum on a condominium is not just a matter of time, but an important decision for life, it is important that you prepare sufficiently. You should therefore first become aware of how much money you have available and develop a suitable financing plan. It is advisable to contact a professional, because he can inform you about possible risks.

  • Draw up financing plan

If the result of this consultation is good enough, you can start looking for a suitable property. Now you can make up your mind: Would you prefer to search privately for a property, or would you rather hire a real estate agent?

  • hire a real estate agent
  • Find and check real estate
  • land register entry, payment & object transfer

Art of the apartment – The differences

New building or old building?

If you are looking for an apartment, you should also consider whether it makes more sense to look for an old building or a new one. Do you know the differences between an old and a new building? It is correct that all buildings whose building permit was issued after 30.06.1953 are new buildings. However, there are many other differences. The special features of old buildings are the high rooms, the imposing facades, large windows and wing doors. New buildings, on the other hand, are characterised by a modern design. We have listed the advantages and disadvantages for you, so that you can quickly decide what is more suitable for you.

New construction – Advantages

If you decide to build a new house, you will benefit from the fact that you will have to pay low ancillary living costs because the thermal insulation is greatly improved. In general, it can be said that the latest technologies are usually used for a new building. If you decide to have a property rebuilt, you have the possibility to incorporate your own wishes into the design.

old building – advantages

You will notice one of the biggest advantages of an old building as soon as you enter such a building. An old building with a beautiful facade can enchant. You enter such an apartment and the ceiling is very high in contrast to new buildings. A high ceiling combined with an imposing chandelier can look like a small castle. Even if you are not interested in making your old building apartment imposing, there are many other possibilities to use an old building apartment. Since the ceiling is so high, most rooms are particularly suitable for special bunk beds.

Appointment for viewing: Mistakes and tips for your new apartment – from the realtor

Everybody has had a viewing appointment for an apartment before. One differentiates between an open inspection to which everyone can come and an inspection which was agreed upon by a private invitation. No matter what kind of sightseeing it is, that one also gets the apartment in the end is never certain. We have conducted an interview with a real estate expert for you.

Interview with our real estate expert from IHV – Die Immobilien Makler.

Visit date: You should consider this

FIV: What does the housing market professional say about tips for visiting an apartment that I want or can buy? Gibt´s there are avoidable mistakes, or what do I have to pay attention to so that I am not fooled?

A decent salesman, no matter whether privately or as a broker, does not want to cheat anyone! After all, this flies out at some point. Furthermore, the BGB (Bürgerliches Gesetzbuch; editor’s note) states that the seller must hand over the sold item free of material defects and defects of title.

FIV: That sounds good, but can I always rely on it? And if it does go wrong, I have a long and costly lawsuit to settle, don’t I?

It is actually quite good that we begin our conversation about tips and mistakes during the apartment inspection with the legal basis. This ensures basic security when buying a home, especially for beginners. In the worst case, I can move out of a rented apartment quickly. With a purchased apartment, even if I use it as an investment, it is not so easy. After all, everything, including financing, would then have to be reversed. That usually costs a lot of money!

One of the legal bases you have as a buyer is the so-called liability for defects of the seller. In abbreviated form, this means that the seller can be held liable by the buyer for hidden or concealed defects even after the sale. But attention: In the sales contracts the following formulations are mostly in it: “bought, as seen”, “bought, as it stands and lies” or “the salesman does not take over guarantee for lack”. In fact, these rates very largely relieve the seller.

The correct behaviour during the inspection appointment

FIV: That’s why we would like to know what is important to consider when visiting an apartment so that it doesn’t get that far.

I begin with the fact that the inspection of a real estate – straight with purchase – needs time and peace. So it is best to try to arrange an exclusive viewing appointment with the real estate agent. Then you will not be pushed through the rooms by other interested parties. By the way, an individual visit does not mean that the buyer should come alone. On the contrary: even when buying a flat, the motto is that four eyes see more than two! One should take a partner with one to the inspection, whom one also trusts a critical judgement. Only in this way can the possible initial euphoria be reduced to a realistic level.

FIV: Is there a right time for an inspection?

If you are alluding to the right time and day of the week, then you can be sure of that! It is best to visit the apartment for the first time in daylight on a weekday after work.
What’s the matter with you? Very simple: then I have a realistic impression of the noise level outside and inside the house. The evening rush hour is flowing, maybe some neighbours are already at home. I know whether I like the noise or not. If everything is in order, it is best to arrange one or two further appointments at different times of the day and weekdays. Several inspection dates are recommended also because one is often very excited with the first date and is perhaps even somewhat “operationally blind”. A good salesman and broker has no problems even with several appointments. He even perceives you more as a serious customer!

Be honest or ‘the perfect tenant’?

FIV: Do I have to be honest with the seller in all things?

If I expect honesty from the broker and seller, then of course it should also be the other way round. So it doesn’t hurt at all if I bring my bank’s financing commitment to the first appointment. It’s not so obvious when renting that the landlord needs a Schufa information. To underline the serious intention to buy with a financing promise or self-disclosure, brings me as a buyer, especially in sought-after apartments but immediately in the pole position.

It is also part of honesty when buying an apartment that I ask to what extent pets are allowed. Then you yourself, or the future tenant, will not experience any nasty surprises. You are also welcome to have the entire house rules shown to you, if there is already one – for example in a new building.

Cities with_the_highest_rentals – Toplist

Source: Real Estate Statistics / IHV

Here you can see the 10 cities with the highest rents in the 4th quarter of 2018:

  1. Munich: 17.56 Euro/m²
  2. Frankfurt am Main: 13,96 Euro/m²
  3. Stuttgart: 13.64 Euro/m²
  4. Berlin: 12, 29 Euro/m²
  5. Darmstadt: 12,23 Euro/m²
  6. Mainz: 12,17 Euro/m²
  7. Freiburg: 12,13 Euro/m²
  8. Wiesbaden: 12,03 Euro/m²
  9. Hamburg: 11,94 Euro/m²
  10. Ingolstadt: 11,91 Euro/m²

Real estate check: Pay attention to these things

FIV: Let’s get to the hardware when we visit apartments. If I am not a craftsman or building expert myself, what should I pay attention to with regard to the condition of the apartment?

There are some basic points of view that everyone – even if they are not from the building trade – can and should take. It starts with the smell: if it smells musty, even after longer airing, then something is literally lazy here. Mould on walls, ceilings or floors is usually the cause.

Actuate all the windows and doors yourself once and hold your hand to the rebates and joints! If there is no ventilation there, this speaks for good insulation. In addition, windows and doors should be smooth and easy to open and close.

Especially the corners of windows and window sills should be checked with hands, eyes and nose. There is a time when the mildew is painted over….

Not only in the inhabited state, but also before the purchase and move-in, the sanitary facilities are the visiting card of the property. Fittings, ceramics, tiles etc. should be in good to best condition. Quietly press a WC flush, try out the water and shower taps!

FIV: Speaking of trying it out: How do I know that all my furniture will fit into the apartment?

By making it clear beforehand what kind of furniture they have and in what size. Before each visit, you should therefore use a folding rule to touch the most important items of furniture and note the measurements. In the new apartment I can easily check it out. If you want to work more professionally, you can get a floor plan with a scale before or at the latest at the viewing date. Then I reduce my furniture to the appropriate scale and draw it into the floor plan as it fits best for me.

Of course, this is only necessary if I move into the apartment myself. As a pure capital investment for renting, however, I should absolutely pay attention to how many sockets there are and how they are distributed. The connection options for washing machines and dishwashers should also be checked. Is there a basement in the house and how big is it? This is also an important point during the tour.

Step by step through the tour

FIV: Am I allowed to take pictures during the tour?

Yeah, right! I’d even advise it! Because then I can watch the pictures or the video at home, room after room, again and again. New questions and suggestions will certainly arise for the further viewing appointments.

FIV: That’s a whole lot of things that I have to take into account during the tour. If there is more to it, will the seller perhaps break off the visit annoyed?

If that’s the case, then you’re lucky. Because then the apartment certainly has some problems and they should not buy!

However, I myself, my colleagues and all known colleagues would never interrupt a visit because of too many questions. On the contrary: I am happy when someone takes a serious look at the apartment and thus documents the serious intention to buy to me. If you discover any deficiencies, please remain calm and objective. By the way, there is nothing wrong with it if you talk to other residents and owners of the house before buying! A good broker will even offer you that on his own.

But let me also say a word about another important topic at the viewing appointment: Make sure you look at the closer and wider living environment! It doesn’t help if I have the greatest apartment, but it’s in an environment that doesn’t suit me for whatever reason. Sooner or later this will affect your relationship with the property.

In addition to the noise level, the following things must also be checked:

  • What is the parking situation?
  • How steht´s with smells in and around the house?
  • What are the outdoor facilities?
  • What shopping facilities are nearby?
  • What is the connection to public transport (local public transport; editor’s note)
  • How far is it to the nearest authorities, schools etc.?
  • If there are children in the game, the question of playgrounds is very important.

It is best if you as a buyer create a checklist with all the things you want to check at the inspection date. By the way, there are already finished checklists on the Internet.

Many thanks for the many tips!

Interview with our real estate expert Jan Rickel from IHV – Die Immobilien Makler.