Leasehold: What is it actually?

Leasehold, also called hereditary building right, means that the right of ownership and the right of use are permanently separated. When you build on a leasehold land, you do not buy the land, you lease it from the owner for a certain, contractually agreed time. Thus, there are two parties, the ground lease grantor (1st person) and the ground lease taker (2nd person).

The grantor of the ground lease grants the holder of the ground lease a plot of land for development. The former receives a ground rent in return.

Here is the ground lease summarized in brief:

• Ownership and usage rights permanently separated
• 2 parties: ground lease giver and ground lease taker
• Leasehold lender cedes a plot of land for development
• Leasehold owner receives ground rent for it

Advantages and disadvantages of ground lease: costs and purchase price

Here we have listed all the advantages and disadvantages of leasehold.

Advantages of ground lease

A leaseholder only builds or buys the property on the leasehold land. This lowers the purchase price, because you don’t have to pay anything for the land.

• Leasehold reduces purchase price

Disadvantage of ground lease

As a leaseholder, you always have to pay a ground rent, which results in additional costs. In addition, the mortgage lending value of the property at the bank decreases, because due to the fehelenden land value and the ground rent, the hereditary building lease has a negative effect on the determination of the mortgage lending value.

• Permanent payment of the ground rent
• Mortgage lending value of the property decreases at the bank

Tips for capital investors: Tax deductions

As an investor, you cannot pass on the ground rent to the tenant, which increases the monthly charges. On the other hand, the costs are tax-deductible. Since the financing of ground leases is complex, we have briefly summarized here what you should pay attention to when buying:

• Residual term at least 30 years
• Purchase price plus imaginary land share min. 30% cheaper than in the market

The next step: social binding and post-binding

Before looking for your first condominium, you should know everything about social commitment in housing. Here you will learn all the pros and cons and what you need to know about everything from low-interest loans by public authorities for social housing, to obligations, to the post-commitment period.

From real estate training to business start-up

How does one become a real estate agent? Are there special courses of study, a training course and can you also enter the job as a career changer? You can also find a textbook on training here in the list again. Many real estate agents want to become self-employed and start their own business. But how do you get started in the industry when you have just started your own business? Establishing yourself in the market involves building a lucrative real estate portfolio and a good client base. The books teach you how to get a foothold in the real estate industry and are there to guide you with instructional forms and help you understand and fulfill the contractual part.

Buy and sell (external & free of charge)

Learn from the experts. You can find many, many more guide articles for free at Lukinski. Here you can learn everything you need to know about buying real estate for free. Start in general with buying real estate, go over your specific type of real estate, from apartment, to house, apartment building to buying land. Also important, everything about the purchase contract (who pays the costs?), ancillary purchase costs and saving taxes with real estate. through legal forms such as a real estate GmbH or family foundation.

However, Luxury Realtors also write new articles on selling property every week. With more specific advice pages on selling a house, selling an apartment, and multi-family house and land.

Tip! Overview Real Estate XXL

The world of real estate is complex and multifaceted, no matter what type of property it is, such as a single-family house, apartment or even an old apartment. If you want to keep an overview and not make any mistakes, you should prepare well and clarify as many open questions as possible in time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book & Video Tips Overview: Real Estate

Earn money as a real estate agent: The ultimate guide

Rating: 4.2 / 5.0 (104 ratings)

This book provides you with in-depth insider knowledge in the know-hows of real estate agents and is for anyone who wants to start their own business in real estate:

• Practical and reality-based instruction
• Answers to questions like: What are the requirements for starting out as a self-employed real estate agent, what can I earn, how much money do I need to get started, how do I get properties, where do my prospects come from, where do pitfalls lurk, etc.?
• Important tips, internet links and adresses
• Personal, further advisory, free service, so that the entry into the profession of real estate agent is a complete success!
• Buy at Amazon

Real Estate Broker Training Book: Buying and Selling

Rating: 4.4 / 5.0 (19 ratings)

This training book (Volume 1) provides you with teaching content relating to the profession of real estate agent and is based on the content of the state-certified distance learning course for “Certified Real Estate Agent (IMI):

• Up to date
• Practical
• Focus: Real estate law in particular brokerage law, land register, building planning law, condominium law, tenancy law, trade regulations including duty of further training
• Economic topics such as markets, real estate economy, purchase price financing including residential real estate credit directive, real estate products, advertising and sales
• With exercises and solutions for independent learning at home and on the road
• The book is also the basis for the affordable e-learning course WK365, a self-study course of the Immobilien-Institut.de to fulfill the continuing education requirement. The course guides you safely through all requirements. With this book you can qualify ideally for the brokerage.
• Buy at Amazon

The real estate guide: Capital investment real estate

Rating: 4.7 / 5.0 (58 ratings)

This guide will show you how to get started in real estate with or without equity:

• The author explains how to finance investment property with and without equity capital
• Learn where to find investment properties in A & B locations
• The biggest mistakes when buying real estate and how to avoid them
• Strategies on how to make worry-free investing possible
• Tips on how to save tax on the purchase of real estate
• Plus: Access to the exclusive and closed Facebook group for readers of this book only.
• Buy at Amazon

Working aids and important forms for prospective real estate agents

Rating: 4.3 / 5.0 (24 ratings)

Your training as a real estate agent is coming up soon? You want to prepare for the training or are already facing the first exam? The perfect work aid offers important forms for prospective real estate agents at a glance:

• Freely editable Word documents
• Brief explanations of purpose and use
• Enclosed CD
• For beginners and advanced
• Buy at Amazon

Success as a real estate agent: business start-up & strategy guide

Rating: 4.7 / 5.0 (19 reviews)

This guidebook is written for people who want to enter or are already entering the real estate brokerage profession. You will receive detailed step-by-step instructions on how to become successfuly self-employed:

• Strategy for the acquisition of brokerage contracts
• Tactical advice for successful marketing on the Internet
• Obtaining the business license according to § 34c GewO
• Discussion of the necessary software solutions for a brokerage office
• Strategic information for an optimal brokerage contract and a sample contract text as a bonus
• Buy at Amazon

Richer than the Geissens: With zero Euro starting capital to a real estate millionaire

Rating: 4.2 / 5.0 (387 ratings)

Why the success bible should not be missing in your bookshelf?

• 43 timeless laws of success to help you become more successful financially, professionally and personally and achieve your goals.
• Accurate step-by-step guide to financial freedom so you avoid frustrating mistakes
• 668 Learnings that specifically help you enjoy a happier and more fulfilling life.
• Proven strategies, tools and techniques to help you build passive income and wealth (with real estate), even with no start-up capital.
• The secrets of the rich, happy and successful people
• Buy at Amazon

Earn more money as a real estate agent: practical guide

Rating: 4.4 / 5.0 (29 ratings)

This book is a guide for real estate agents who want to optimize their success:

• Practical guide is written for people who want to enter or already practice the profession of real estate agent
• The path to business start-up
• Expansion of the brokerage business
• Practical advice and information on error prevention
• Better position your existing brokerage firm in the marketplace
• Buy at Amazon

The Real Estate Investors Network

Rating: 4.6 / 5.0 (24 ratings)

A great book of real estate strategies from 14 real estate investors with all the ups and downs:

• Investing in small apartments
• Investing in garages
• Fix and flip in perfection
• Buy, renovate, upgrade
• The first property at the age of 18
• Creative real estate upgrades
• Purchase of over 60 apartments in 2 years
• Legal pitfalls in the real estate purchase contract
• Buy at Amazon

Further links

If you would like to know more about the topic of real estate, then take a look at our other articles on the topic of real estate. We have compiled book recommendations and video tips for you on all relevant topics, from real estate financing to real estate as an investment to renting out an apartment or finding an agent. Become a real estate professional with us!

Buy and rent property

Buying and renting real estate: For newcomers to the real estate industry, it’s still a world where you can’t see the forest for the trees. We want to make this entry into the industry easier for you with the best recommendations and tips from the pros. Our book tips walk you through the entire world of real estate and leave no topic out. We focus on home buying, renting properties and all legal and contractual issues. Sorted by most and best reviews, we put here for you a list of the best guides on real estate.

• Book recommendations on the subject: Buying and renting real estate
• Video tips on the subject: Buying and renting property

Real estate financing

Real estate financing – You want to buy a property, but do not know how you can finance your dream? Terms like loan, interest, credit, repayment or building society contract only raise more questions for you? Here you will find all the important information on the subject of real estate financing: from financing with equity to financing without equity to applying for a loan, we cover all the important topics!

• Book recommendations on the subject: Real estate financing
• Video tips on the subject: Real estate financing

Build property

To build or to buy a house? This question is on the minds of many prospective buyers. Here we show you the advantages and disadvantages of both options and offer interesting tips on financing. Both options have their advantages. A new build has the great advantage that you can determine the layout of the rooms according to your wishes. In an already existing property you don’t have to deal with the complicated construction phases and you can live in your own home much faster. Here you will find books and videos that will help you to finance your dream home and show you what you should pay attention to.

• Book recommendations on the subject: Building real estate
• Video tips on the subject: Building real estate

Overview real estate XXL: Investment, broker, renting & Co.

Here you get back to the overview of book and video recommendations on the subject of real estate in Germany. Investment cases, capital investment, passive income, house or apartment buy and rent and much more is explained to you here by experts and understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of real estate.

• Back to the book & video tips overview: Immobilien Ratgeber XXL

Entry into real estate investment

Investing in real estate – whether a house or apartment, penthouse, apartment, maisonette, villa, terraced house or bungalow – always seems to be a good investment at first glance, but in order to actually make a profit and at best generate passive income, you need some know-how. Before all, you need to know which mistakes you should avoid at all costs. In our video list on the subject of real estate investment, you will learn exactly this necessary know-how and you will be explained what mistakes ignorant investors often make, to do it better yourself. Get inspired and become a professional investor!

Before we get to the video recommendations for real estate investing, here are 3 tips on the topic: Learn for free on Lukinski, we have book recommendations and for those who want to become a real estate investor, another look at the topic of taxes, because the more money you make, the more taxes you pay. The more knowledge you build up here, the less taxes you pay and the more equity you have, for your investments.

Buy, finance and invest (external & free of charge)

Online you can find a lot of articles and tips on Lukinski.de. Here you can learn everything: from tax basics for asset accumulation, to real estate as an investment through renting, to saving taxes with real estate (external). Everything free of charge from the expert.

Tip! Overview Real Estate XXL

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book & Video Tips Overview: Real Estate

Tax Coaching for Landlords / Investors: Field Report

If you write about real estate, you have to educate yourself. More concretely, when it is no longer just about personal use, but also about renting. Because, the biggest item on the expense side is taxes. The more you earn, the more taxes you have to pay – the problem is clearly defined, what to do? Learn from experience, from those who have made it. Many say that the Next Level Tax Coaching is the best in Germany. Reason enough to take part yourself. You want to become a real estate investor yourself?

Read more about tax coaching here:

• Coaching in tax optimization

Entry as a real estate investor

All beginnings are difficult – especially with such a capital-intensive topic as the purchase of a property. There are many factors to consider. Whether it’s about financing, the most common mistakes or the question of whether renting is even worth it: In these videos, you’ll get answers to the most common questions about real estate as an investment.

Start in the first property

Here you can find out how to get started with the best tips for owning your first property. What is the best way to start, and with what – apartment or house? When can you expect profits and how does a house purchase work? Two professionals tell you about their first steps as real estate investors.

7 ways to invest in real estate

In this video, you’ll learn the 7 best ways to invest in real estate:

1. Home
2. Rental properties
3. Closed-end real estate funds
4. Open-ended real estate funds
5. Real estate shares / REITs
6. Real estate equity funds (active)
7. Real estate equity funds (passive)

Buy first apartment

How do you actually get started? How do you buy your first home? In this video, a professional investor explains how to get started in the world of real estate investing.

Let property

You have a property and are thinking about whether renting it out is really worth it? Of course, as an investor, you want to make a profit in the end. How to do that and when renting out a property is really worthwhile, you will learn in the following videos.

Is it worth renting?

Interest rates at record lows, high property prices: Isn’t it worth buying a rented property as an investment? This video will show you whether the calculation “the tenant pays off the installments to the bank” works. How you can best rent out your property and how it can function as a real investment is explained here for you.

Rent or buy ETFs?

What’s more worthwhile: buying a property and then renting it out – or using the money to buy ETFs? In this video, we’ll run through 6 scenarios for you to decide which investment strategy works best for you.

Errors and tips

Mistakes can always be made, but especially when it comes to real estate investment, these mistakes can be costly. To avoid this, the most common mistakes in real estate investment are shown here. With these tips, hopefully you will no longer fall into an expensive investment trap.

Avoiding mistakes when buying real estate

Alex Fischer explains in this video what you have to pay attention to when financing real estate, the location, size and type of the apartment and which rules you should absolutely follow for owner-occupied real estate as well as for capital investment. Don’t make the same mistakes as other investors and save time and money with these tips for your next real estate investment.

9 typical mistakes

Making mistakes when buying real estate can have serious consequences. What to look for when buying real estate is therefore a central question that you should ask yourself when buying real estate as an investment. How you can avoid mistakes when buying real estate is shown in this video. For example, it is about the choice of location, the calculation or the rental model.

Financing: Save on credit, repayment and taxes

A property is often an immense investment. Very few people can finance this out of their own pocket. But which type of financing is the best and most efficient for you, your situation and your property? And should you have taken out a loan or credit, what is the best way to organise repayment? Is there possibly even a way to save taxes in the process? These questions are adressed in detail in the following videos.

Real estate as an investment

Real estate as an investment – sounds easy, but unfortunately it’s not that simple. What advantages a property as an investment can have, however, if you do it right and know your way around, you will learn in this video.

Save taxes

With the right knowledge, you can save a lot of taxes with your real estate. Watch the video to learn what expenses can be deducted on your tax return, so you can use your strategy to grow your investment and ideally reinvest the money you save.

Repayment: which rate is optimal?

The real estate loan or real estate financing has a huge impact on whether a property works as an investment or a home works as an investment. Financing a property is therefore something you should definitely understand before buying. One important question to ask is how much to amortize or what is the optimal amount of amortization. In this video you get exactly the right answer.

Related links about the topic Real estate

Are you wondering how to buy, sell, rent or finance a property? What exactly does a real estate agent do? If you’re looking for answers to these questions, check out our advanced book lists with recommendations and reader reviews on real estate!

Tax return: instructions, tips & guides for students, pensioners, professionals

Why, why, why are tax returns so important? Not only professionals, but also students or pensioners can benefit from a tax return. If you have never deducted anything from your taxes and have no previous knowledge, you can get super informed in our tax return guide. We show you tips and tricks on how to avoid mistakes and provide you with tutorials that will help you with your first or next tax return. If you want to know even more, then we have a great article on the tax basics: income, sales & Co.

• Video tips on the subject of tax returns
• Book recommendations on the subject of tax returns

Real estate agent

Earning money with real estate is a lifelong dream for many. Marketing and selling luxurious homes in the most beautiful cities in the world. That’s the image that comes to mind when we think of real estate agents. We want to show you the way to get there and give you a jump start. We offer you a list of the best book recommendations with tips and tricks from the experts: everything from training books, job aids with forms, and guides with how-to’s on getting started in real estate. Our guides to success in the real estate industry

• Real estate agent: Book recommendation
• Real estate agent: video tips

Overview Real Estate XXL: Investment & Co.

Here you get back to the overview of book and video recommendations on the subject of real estate in Germany. Investment cases, capital investment, passive income, house or apartment buy and rent and much more is explained to you here by experts and understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of real estate.

• Back to Book & Video Tips Overview: Real Estate

Buying real estate – tips and tricks for buying a house

Here you will find everything you need to know about buying real estate. From the search to the resale, we accompany you with our checklists and plans. Whether you are buying a house or an apartment, here you will find the information that will prepare you perfectly. The following books will surely help you with your first or next real estate purchase. Enjoy reading.

Tip! Overview Real Estate XXL

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book & Video Tips Overview: Real Estate

Buying mistakes

Buying or investing in a property is a big step. In the process, you can make a lot of small mistakes, but also bigger ones that can potentially cost you a lot of money. In these videos you will learn which mistakes are most often made when buying real estate and how you can avoid them to save as much money as possible on your real estate purchase!

That’s what you have to watch out for!

You want to buy a property but don’t want to make any mistakes when investing? The following video explains what you need to pay attention to when financing real estate, the location, type and size of the apartment, etc., and which rules you should absolutely follow for both owner-occupied real estate and capital investments! In addition, you will learn more about the risks of special real estate, how important the amount of the contractually fixed repayment and the consideration of your own future planning is!

9 typical mistakes when buying real estate

Making mistakes when buying real estate can have serious consequences. “What to look out for” is therefore a central question when buying real estate. How you can avoid mistakes is shown in this video.

• The first of many real estate mistakes is certainly that you are not purposeful in your site selection.
• Calculating correctly before buying is another point you should definitely take a closer look at.
• Have you found the right rental model?
• Do you consider interest rate risk before you buy?
• And have you found the ideal financing for you? A financing broker can help you with this question.
• The worst mistake we made when buying a property was not having any money in our bank account after the purchase. Reserves only build up after a certain time.

Buying your first own property

Have you been thinking about buying a house or an apartment for a while? Then you’ve come to the right place. However, buying a property is not as easy as it seems. Many things must be considered to really find the perfect property for you. Here you will find everything important about buying real estate. Our tips and tricks will help you get started with your first property.

Getting started with your first own property

Here we give you tips on what you need to buy a property in the first place. How much equity should you have for the planned investment? What does the bank expect from you as an investor? And how do I behave towards my bank advisor? You will learn all this and much more about this topic in this video!

Buying real estate step by step

In this video, the most important steps in buying real estate are explained to you. This will give you more clarity and allow you to go full throttle with real estate! Here you will be shown in which order the individual steps are to be carried out and what priority they have. Plus, you’ll be given some real-world tips for each step that will give you more confidence. Have fun with this video.

Procedure when buying a house

With the following video we would like to answer your questions about buying a house and give you a little guidance on what to do if you want to buy a property that you have viewed.

• What happens after the tour
• What do I have to do if I like the house
• How often can I visit the property
• What documents do I need for the bank and where to get them
• When do I get the key
• … and much more!

How to buy your first apartment

Becoming a real estate investor, buying and renting out apartments and living off the returns – that’s it! But how do you actually get started? How do you buy your first apartment? How you can take your first steps into the real estate business, tells you in this video real estate professional investor Gerald Hörhan.

Identifying the right purchase price of a property

In this video, you will learn what options you have to quickly value real estate, how to recognize the correct purchase price of a property and what special features there are so that you don’t pay too much for your property!

The right time to buy real estate

Buying a property is basically a good idea – but when is actually the right time? Does it make sense to buy a property as a trainee or student, or would it be better to wait? And is the real estate boom perhaps over again? Find answers to these questions here.

Buy property as a student or trainee

Is it possible to get a real estate financing as a student/pupil? Surely it will be difficult if you want to convince the bank as a student or trainee. Especially if your credit rating with these starting conditions is not yet so good and you want to approach a real estate financing with little equity or even completely without equity. Without the guarantee of a parent or relative, we say that it is even simply impossible. If you want to be successful with residential real estate, you need a lot of information, you need to know where and how to look later. Experiences and exchange offer you the optimal entrance into the real estate.

Still buying real estate now?

All of the studies conclude that the real estate market weathered the Corona Lockdown very well – except for one. In the video, we talk about how new evidence shows that there was definitely a price collapse in the market. Still, there are positive signs going forward that the German real estate market could continue to pick up. You can find all the details in the video.

Real estate financing

How do you finance your property in the best possible way? And ideally without equity? Should you buy or rather rent? Find answers to important questions on the topic of im

Buy property without equity

We usually recommend 100% financing or full financing. In principle, a real estate financing without equity. However, a full financing without equity or buy property without equity also includes that the incidental costs are financed. Since these are no countervalue, we see this approach, however, as critical if you do not buy particularly cheap. Such a property financing without equity has a significant impact on the return on equity of real estate. In this way you make optimal use of the leverage effect. That’s why we recommend financing no less than 80% of the purchase price as a rule.

Buy or rent?

Paying rent is money wasted. Whether there is any truth in this statement and what makes more sense from a purely financial point of view – buying or renting a property – is explained in the following video.

Related links around the topic Real Estate

Haven’t learned enough yet? We’ve covered many areas of real estate for you with our video tips. For example, areas such as: Real Estate Financing, Renting Property, Finding the Right Realtor, Passive Income through Real Estate and much more. Take a look and become a real estate professional!

Real estate investment

Real estate is considered a safe and profitable investment. But what is the best way to invest in houses or apartments? Whatever drives you to make a lot of money: Buying an apartment as an investment is the best idea you will ever make. If you want to invest successfuly in real estate, you need a good strategy.

• Video Tips: Real Estate Investment
• Book Recommendations: Real Estate Investment

Build property

To build or to buy a house? This question is on the minds of many prospective buyers. Here we show you the advantages and disadvantages of both options and offer interesting tips on financing. Both options have their advantages. A new building has the great advantage that you can determine the layout of the rooms according to your wishes. With an existing property, you don’t have to deal with the complicated construction phases and you can live in your own home much more quickly. Here you will find videos that will help you to finance your dream home and show you what you should pay attention to.

• Video Tips: Build property
• Book Recommendations: Building real estate

Overview Real Estate XXL: Investment & Co.

Here you get back to the overview of book and video recommendations on the subject of real estate in Germany. Investment cases, capital investment, passive income, house or apartment buy and rent and much more is explained to you here by experts and understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of real estate.

• Back to Book & Video Tips Overview: Real Estate

Selling real estate – how to make the sale uncomplicated and profitable

Selling a property successfuly as a beginner is harder than you think. There are many things to consider and many mistakes that can be made. So you should be aware of the procedures from the start and be sure that you are doing everything right. If you are approaching a home sale without any help you should be prepared for a lot of time commitment and a lot of self-organization. The only way to make this process easier is to have the right expertise on the subject. Learn more about selling a house (external)!

Determining the value of real estate – this is how experts proceed

What are the exact criteria for determining the value of a property and how exactly do appraisers proceed when preparing the appraisal? In general, according to § 194 BauGB, the market value should reflect the price that would have been achieved in the normal business year at the time of the determination without regard to unusual or personal circumstances. In order to determine this value, experts are guided by various criteria:

The ground value

The standard land value is probably the most important criterion for determining the market value, as it is the basis for its calculation. The standard land value indicates the value for one square metre of undeveloped land in the respective standard land value zones.

The structural and technical condition of a property

The second important criterion is of course the condition of the property. This includes not only the materials used, such as building materials, wiring, pipes or electrical systems, but also the age of the property and the materials. In addition, extras such as outdoor facilities, carports, gardens and garages can have a positive effect on the valuation and reinforce a positive assessment.

The location of the properties

On the one hand, the location of the property includes the infrastructure of the nearby surroundings, such as transport connections, shopping facilities, but also connections to doctors or hospitals. On the other hand, trendy locations have an advantage, especially in large cities. The higher the popularity of the neighbourhood, the higher the value of the property there.

The energetic state

First of all, of course, the presentation of the energy certificate is necessary. This shows how high the energy consumption is. The higher, the worse. In addition, how high quality and new the insulation of the outer walls and the roof are. These significantly determine the energy consumption and the energy costs increase enormously with poor insulation.

The degree of development of the property

Also important for the value of the property is the degree of development. This means that it must be checked whether the property is connected to important networks such as the water system, the telephone network but also the electricity. Of course, it is an advantage if the property is connected to all important networks.

Contaminated sites on the property

Contaminated sites on the property are of course not advantageous for the property, as they have to be taken over by the new owner. Such contaminated sites are noted in the land register and negatively affect the appraisal, since more costs come to potential buyers.

The current market situation

The price of a property is always determined by supply and demand, which is why this criterion also plays an important role for the expert. Here, sales data from comparable properties in similar locations are used and compared with the data for the property under review.

The right presentation – this is how you put your property in the right light

The right advertisement is the be-all and end-all for the self-marketing of a property. But other aspects must also be taken into account. If you approach a house sale without help, you should be prepared for a high expenditure of time and a lot of self-organisation. This process can only be made easier by having the right specialist knowledge on the subject.

The advertisement – correct wording, the pictures and the first impression

There’s nothing worse than your ad getting lost in the shuffle. Short, sober descriptions bore potential buyers and are uninviting. Therefore, pay attention to a loose but still serious formulation already in the title. To achieve this, you should use language that is as rich in imagery as possible, which arouses emotions and thus attracts attention. Think about which headline you would stick to yourself. Special advantages of your real estate can be emphasized thereby by formulations, like ‘elegant old building with stucco’ or ‘sun-flooded south terrace’, because you work enthusiastically and invite the Immobiliensuchende directly. Try to attract the buyer already with the headline, so that he continues to click on your ad.

The text of the advertisement – exact description and mentioning of the advantages

Once the potential buyer is on your ad, two other factors can convince them of the property. The text of the ad and your pictures. In your text you should explain important key data of the property as well as object criteria. This includes the number of rooms, district, balcony, fitted kitchen, floor, but also full bath or basement rooms. Describe the location of the apartment, the advantages and also name the equipment as precisely as possible. This includes kitchen equipment, heating systems but also other objects that will remain in the property. In the course of this, mention the costs for the compensation payments for existing equipment and brokerage fees. Also important is information such as rent, service charges and the size of the apartment in square meters.

The images – the be-all and end-all of a good ad

Probably the most important factor, however, are the pictures. A buyer naturally wants to see as much of the property as possible to get an idea of whether the property could be something for them. To take great pictures of your property, there are a few things you need to consider. First and foremost, of course, the rooms should be tidy and clean. You should make sure you take the pictures in daylight, so that the rooms can really be seen and buyers can assess how much daylight falls into the rooms. Your cover photo should be the most expressive and represent the best thing about the home. The most beautiful room, the roof terrace, the open kitchen or maybe the bay window with a view. Pictures of all rooms and if available the garden/balcony/terrace, an exterior view and above all a floor plan should never be missing. The floor plan should never be missing, because the potential buyers get an impression of the size of the individual rooms to each other and can see the layout of the rooms better.

Buying, selling and investing – Immobilien Magazin

You can find out more about real estate in the Real Estate Magazine.

• Apartment for sale? All about the topic: Selling a condominium
• Real estate valuation and appraisal? Ask the experts: IHV Broker & Valuation (external)
• Selling or renting? Earn money with your apartment: rent it out or sell it?
• Want to buy? Here are our tips on buying your first property
• Buy and live? Our guide to buying an apartment
• Retirement Tip: Got a few euros saved up? Read more about: Real estate as an investment

House forms at a glance: List

In the real estate market, there are a lot of different types of construction. Both in the field of apartment and houses, there are many forms and types according to which a property is designed. These are divided into different formats. We have clearly listed some of the most common house and apartment types for you here. You can find more information about the respective property type in the corresponding article by clicking on the corresponding link.

Overview of house types: from bungalow to prefabricated house

Here you will find a list with an overview of all common house types. The linked article provides you with more information about the respective house form, introduces you to characteristics and definitions and you also learn which house type is suitable for whom and why. In addition, we introduce you to the advantages and disadvantages of the respective house form in the associated articles.

• Bungalow
• Semi-detached house
• Single-family house
• Half-timbered house
• Holiday home / weekend house
• Beach house
• Prefabricated house
• Country house
• Massive house
• Terraced house
• Villa
• Low-energy house
• Zero-energy house
• Passive House

The legal basis – notary, land register and the purchase contract

Selling a home is a big decision with many legal procedures, contracts and requirements involved. As a homeowner, you should be well informed in advance about what to expect and what you need to keep in mind so that you come out of the deal profitable. For the uninformed in the field, there are many legal basics to consider and especially small stumbling blocks that should be avoided at all costs.

Learn more about the legalities of selling a home from the experts at IHV!

The notary – legal person supervising the purchase contract

The tasks of a notary is to regulate the sale of real estate as an impartial legal authority in such a way that all parties are satisfied and all possible points of dispute are avoided or settled from beginning to end. The notary draws up a public deed (the contract of sale) in which all the necessary legal issues are settled transparently and clearly.
In addition, the notary certifies the real estate purchase contract. Section 311b of the German Civil Code (BGB) stipulates that all legal contracts relating to land, assets, estates and real estate must be notarised. Another task of notaries is to ensure the protection of the buyer and seller. For the legal protection of the buyer, the notary reserves the property for the buyer in the land register as a priority notice, so that the seller cannot sell the property to someone else at short notice. For the legal protection of the seller, the notary arranges for the final transfer of ownership in the land register as soon as the buyer has actually paid the purchase price.
Notaries additionally ensure immediately enforceable claims. This means that the claims set out in notarised contracts are immediately enforceable. Thus, in order to execute the claims, it is no longer necessary to file an extra complaint with a court, but a bailiff can be commissioned immediately. This takes place, for example, if the purchase price is not paid. In addition, a notary explains all unresolved legal issues in a real estate sale. He must explain all legal and juridical questions to all contracting parties so comprehensively, understandably and sufficiently that a documentary registration of the actual will of both parties is possible. You are obliged to do this by virtue of your public office.

The costs incurred by the notary are always the same, because the notary fees are regulated uniformly throughout Germany in the Court and Notary Fees Act (GnotKG). Should a notary seek to regulate costs in a different way, this is ineffective, as this is prohibited by law. This applies to both cost reductions and cost increases.

The purchase contract – the most important points must be regulated

The contract of sale is the legal basis on which a house sale is built. Depending on the case, a purchase contract always looks different, contains more or less regulations, depending on what the parties have agreed. A contract of sale is a complex and extensive contract, which holds many legal ambiguities and also traps for one or the other. The implementation can also take quite some time. Sometimes up to 8 weeks pass between the signing of the contract at the notary’s office and the transfer of ownership in the land register. This disparity between the transfer of the purchase price, the change of ownership and thus the change of use and encumbrances and the final change of ownership and handover raises further legal issues in the sale of a house, which must be regulated in detail in the purchase contract.
The key points that should be covered in any purchase agreement are as follows:

• Which object of purchase is being sold?
• Who is selling to whom?
• What all is sold with it? (Fitted kitchen, property,…)
• How is it sold?
• How does the payment take place? (Cash, bank transfer, …)
• When is the transfer date?
• What is the breakdown of utilities and maintenance costs?
• How are the development costs regulated?
• Are there any possible warranty claims?
• What is the condition of the object?
• Does the object have defects?
• Which permits are available and which are missing?
• Cost allocation
• Authorisation of the notary’s office

The 6 most common mistakes – how to avoid stumbling blocks

Most home sellers are rather inexperienced in the field and don’t know where to start. They often snap a few pictures and post them on a real estate portal. However, homeowners don’t know what to expect, what to look out for, and what all to expect. To prevent this uncertainty, the most important thing to do before selling a house is to inform yourself and seek help from experts in the field.

A broker is excluded from the outset

Of course, it is also possible to successfuly complete a property sale without an estate agent. So before you decide for or against an agent, consider what makes the most sense for you in your situation. An estate agent can take a lot of the work and time out of selling a property. In addition, he advises you in financial as well as in marketing-technical questions. So ask yourself the questions:

• Do I have the time to organize, accompany and complete the entire house sale on my own?
• Is my level of knowledge and professional expertise really sufficient to successfuly complete the sale without a broker?
• Can I coordinate the sale on my own in the fast-paced, regional and targeted real estate market?

You should be aware that selling real estate requires a lot of time, organisation and expertise. An estate agent receives a commission on a successful sale, but this can be set out in an agency agreement. In addition, the agent will then take over work from you, such as the correct advertising of the property, the arrangement and conduct of viewing appointments, the preparation of purchase contracts and the presence at the notary appointment. You have thus permanently someone competent with sufficient expertise at your side, who can advise you in all matters.

You are unprepared for viewing appointments

Potential buyers, are faced with the decision to make a big investment, or not. They want to be on the safe side and be 100% sure about their decision. In order to complete the house sale successfuly, you should give potential buyers as much security as possible. At a viewing appointment, you should therefore be prepared for many questions from buyers and have a good answer to all of them. Often these will be about the condition of the house – how old are the windows / doors? When was the last renovation and refurbishment? What kind of insulation is there? How much are the service charges? and and and – be prepared for all these questions and find out exactly about your house from the outset. Ignorance can unsettle potential buyers or be an excuse to drive down the price. Also, be open with appraisers and understand that your buyers just want to play it safe.

The real estate market value is unknown to you

Every homeowner remembers how much they paid for their house and how much renovation, refurbishment etc. cost. However, it often happens that the value of the property differs from the original purchase price, as property prices are determined by supply and demand. So before you put your property up for sale, you should know the value of it. You can have the property value estimated by an appraiser but also by a realtor and thus know better in what range you can move in the price. Small defects in the house can lower the value of the property and be a reason for potential buyers to depress the purchase price. Therefore, before selling, consider whether you can have minor defects repaired beforehand and thus demand a higher selling price. However, appraisers or estate agents can also help you with this decision and assess whether such an investment is worthwhile.

They are not willing to negotiate

Of course, as a seller, you want to sell your property as profitably as possible. Opposite you, however, is a buyer who is happiest to record a profit at the end. So don’t ruin your chances of buying a house by being unwilling to negotiate, but also accommodate your buyer. There is only one thing that helps in negotiations and that is good preparation. You should consider from the outset, in which framework you can move and what is the absolute minimum for you. You should also come up with good arguments to justify your selling price. This includes, for example, a good infrastructure, the location of the house or even special advantages of your property. An estate agent experienced in negotiations can also help you prepare for a successful negotiation or even support you on the spot. Stubbornness can spoil a lot of things for you and drag out the negotiations unnecessarily. Approach each other and find a price that both parties are happy with.

Your exposé gives a false impression

The exposé is one of the most important things in the successful sale of your property. The exposé is the first thing a potential customer sees and should therefore make the perfect first impression. A bad exposé can even put a spanner in the works of the most beautiful house. What you should definitely pay attention to are good pictures. It helps to have these taken by a photographer, but homemade pictures can also look great. Make sure the pictures are taken in daylight and that the room is easy to see. In addition, it should be tidy and clean so that the potential buyer feels immediately comfortable and can imagine living there. Take pictures of all the rooms and preferably also of the floor plan so that the buyers can get a clear picture of the property. Pictures of the garden or special features of the house also look good. Be honest in the text of your exposé. Do not give the customer false hopes or exaggerate, because this will only lead to disappointment at the viewing appointment.

You do not properly review the purchase contract

The purchase contract and the appointment with the notary are the last steps on the way to a successful house sale. At the notary appointment, the purchase contract is read out again by the notary and both parties sign it. After this appointment, the contract is legally binding and the sale is completed. Before this appointment, you should check the contract of sale thoroughly and be clear about all the points noted. If you are unsure, consult an estate agent in advance who will go through the contract and advise you. You can always ask questions at the notary appointment itself, but the notary will not advise you. He is only responsible for ensuring that the contract is legally correct. To be sure that there are no hidden uncertainties, it is better to have the contract checked in advance.

The house purchase – broker, commission & loans

When first thinking about buying real estate, many questions immediately arise. What is the best way to proceed? Do I need a real estate agent or should I search on my own? How big should the house be, how many square meters and rooms does it need? In which area do I search and above all how much budget do I need? We will now get to the bottom of all these questions.

Learn more about buying a house at IHV!

Requirements – the way to your dream property

In the first step on the way to your dream property, you should first consider what requirements you have for your home. How many rooms do they need and how many square meters should their house and their property have in the best case? Of course, they should also be clear in which area they want to move and adjust their needs according to this scheme. A house in a city will be more expensive than a house in a suburb or in the country. Do you need a school nearby or should a supermarket be within walking distance. Do you want a garden or a child friendly environment. Of course, you should also think about the exterior of your property. Do you prefer a certain style of house, should the house be more modern or more Nordic style? After you have clarified these basic questions and know how you imagine your dream property, you can move on to step 2.

Financial planning – financing options and requirements

The financial planning takes a large part in the path to owning a home, because with construction financing and loans you enter into a large commitment that can span several decades. Accordingly, anyone who is thinking of buying a property should first check their own financial resources. This includes, for example, whether property or a building savings contract is already available and how much it is. Also should be checked which funds can actually be called in the short term. In order to obtain a loan from a bank, it is recommended to have at least 10-20% of the required sum (purchase sum and ancillary purchase costs) as equity capital. The higher the equity, the better.

Of course, personal circumstances also play a role in financial resilience. These include, for example, family planning and the desire to have children, the employment situation of the partners and, of course, marital status. You should consider whether further major financing is planned for the next few years and how this will affect your financial situation. It is also important to determine the permanent expenses in order to be able to include them in the planning. These include fixed costs such as insurance and ancillary costs, but also holidays, car purchases or provisions for financial security.

The next important point is the repayment period, as one should think about how long they want to repay and hence how long they want to be in debt. It is recommended to plan the financing in such a way that the debtors are debt free by the age of 60. However, this also depends on how high the repayment rate can be. The shorter the repayment period, the higher the repayment rate, but there are also slightly cheaper interest rates for shorter loan periods. As a rule of thumb, with a repayment rate of two percent, the repayment period is approximately thirty years.

Once these questions have been clarified, it is time to compile the documents for the banks, because they need many different documents in order to be able to apply for an offer in the first place. Such documents include monthly income, which is evidenced by the income tax assessment, as well as a list of regular expenses and current assets. Also, at this step, they should already have a purchase property and, in the best case, cost estimates, because the more accurate and comprehensive the documents they provide, the faster and better the bank can make an offer. Compare many different offers, from several credit institutions as there can be many differences and they can thus find the best offer for their project.

Search – brokers, patience and ads

There are many different ways to approach the house hunt. Of course, a real estate agent has many advantages, because he accompanies them from start to finish on their search, knows insider tips and can help them with the decision with words and deeds. If you prefer to search on your own, there are many online portals, such as ‘Immonet’ or ‘Immobilienscout24’ where you can view a large selection of properties. Let your friends and acquaintances know that you are looking for a house, because a lot can happen through contacts. When viewing a property, there are a few things you should bear in mind in order to gather as much information as possible about the property. First of all, you should only visit the property during daylight hours, as you will be able to see defects and faults much better than in artificial light. Take a close look at the surrounding area and pay attention to possible noise, smells and the parking situation. The infrastructure around the property should also be explored carefully to compare if it fits their requirements. Talking to the neighbours can also uncover helpful information.

At the property itself, they should pay attention to the condition of the facade, roof and attic, as well as the basement rooms and windows. Water stains on the walls and ceiling, outdated windows with low insulation or a leaking roof can be discovered during these observations. Take pictures and of the property and any faulty areas. Of course, the exposé already tells you a lot about the property, but not all questions will be answered here. Create a list of questions so that you can find out as much as possible about the property during the viewing. Possible questions could be for example the following:

• Do renovations or refurbishments need to be carried out?
• What is the condition of the roof and windows?
• What heating is in the property, how old is it and what insulation does the house have?
• Useful here is always the energy certificate, so ask them explicitly for this.
• The floor plan with drawing of load-bearing walls to be able to plan a possible reconstruction.
• The statement of operating costs
• Check the incidence of light and the cardinal directions, for example, to find out when the sun shines into the garden.
• Ask them the reason for the sale and the duration of the vacancy
• Do fixtures such as kitchen, cupboards, etc. remain in the house and do they have to be taken over?
• Visit different objects to create a selection and to be able to see different offers. In case of uncertainties, such as damp walls, etc., it is better to consult an expert and let him assess the whole.

Legal basics – purchase contract, land register entry & Co.

To buy a house, legal ways must also be followed and many standards must be observed. In order to do this correctly and make the house sale also right some things must be followed.

Lots of helpful tips on the legalities of selling a house!

Notarisation of a purchase contract – the notary helps with land register entry and more

The purchase contract fulfils the standard that according to § 311b BGB a notarial certification must be present if the ownership of a property or rights equivalent to real property is transferred. However, the transfer of ownership is not valid after signing and notarial certification, but only after registration in the land register.
First, a notary drew up a draft contract of sale that should suit both sides. This is fixed some time before signing so that both parties can check it. During the notarization, the notary reads the contract again and both parties can ask questions. The notary also informs about the consequences of the sale of the house and explains the further steps of the transfer of ownership.

Until registration in the land register, the buyer’s claim to the property is secured by the registration of a so-called priority notice of conveyance in the land register. This ensures that the transfer of ownership of the property can be processed safely. The transfer of ownership in the land register is only initiated by the notary when the purchase price has been transferred in full. Likewise, the tax office must confirm with a clearance certificate that the buyer has paid the real estate transfer tax. From which point in time the property is transferred to the buyer, i.e. the “economic transfer” takes place, is also determined in the notary contract. From this point on, the buyer bears all costs and is liable for the property. However, he is not the final owner until the transfer of ownership is complete and his name is entered in the land register.

Transfer of ownership – from seller to buyer

By entering into the purchase agreement, not only does ownership of a property pass to the purchaser, but the purchaser also assumes all risks, taxes and encumbrances associated with ownership of the property. This allows the new owner to do with the property as he or she sees fit. The transfer of possession is precisely defined in terms of date and is completely independent of the new owner’s entry in the land register, i.e. the transfer of ownership.

Building money & costs – what you have to pay when buying a property

After you have decided to buy your dream property, the question of the right financing arises. Here you should inform yourself about all the options, because you will have to live with the decision about financing for the next few years. Especially for inexperienced a real estate purchase is a big step, which is why you should be especially sure that you find the right offer.

Learn more about construction money!

Building money – 6 tips for successful financing

• Tip 1 – Determine your initial situation

  Before you start your search, you should determine your budget and your requirements in detail. This includes the living space, the number of rooms, the construction and equipment, the location, the architecture, the local transport and the distance to important places such as the workplace or schools. Once you are sure of your requirements, clarify your budget. How much equity can you raise? It is also important to determine what your maximum future monthly costs may be and how much you can really afford. To do this, compare your current monthly fixed costs and expenses. Once you’ve created an overview, you’ll have a rough idea of what to look for.

• Tip 2 – Include a redemption payment

  Rent and interest are real costs, but when you make a repayment, the money is used as a kind of installment savings plan. This means your loan debt goes down, but your net worth goes up. So you should also include the repayment you have to make on the loan each month in your calculations. Think of how many years you would like to have the debt paid off in and calculate with that figure. Remember that the rent you pay each month is not an investment in value, while the repayment will still increase your net worth each month.

• Tip 3 – Compare as many offers as possible

  The more listings you request and compare, the more choices you have and the more likely you are to find your dream property. Do not be afraid to search extensively and look at many properties. Search not only on property portals but also in newspaper listings, ask your friends and acquaintances and always keep your eyes open. The effort you put into your search will definitely pay off for you in the long run.

• Tip 4 – Choose long-term financing

  The important thing with long-term financing is that you secure the low interest rates for as long as possible. Preferably for the next 15 years or longer. This guarantees you a solid repayment rate. Depending on the purchase price, use 20% equity or less and choose a classic annuity loan. With this loan, the repayment should be about 2%. If this is higher, your return is also higher in the event of inflation. But if it is lower, you do not meet the certain repayment amount that you need, so that you do not get into trouble with a follow-up financing. If you also take out another loan, such as a subsidy loan, the terms must match, otherwise they can threaten early repayment penalties in the event of a sale.

• Tip 5 – Get multiple financing quotes

  Of course, the easiest and simplest way is to simply take out the loan at the house bank and handle the financing through it. However, there are big differences in the financing offers from different banks. For this reason, you should get at least two different offers, if not more, to find out which bank offers you the fairest and best conditions. Never lose sight of the fact that the loan is for a long term, so an interest saving of 0.2% per year can make a huge difference to you.

• Tip 6 – Do not be afraid of debt

  Going into debt is a big decision, but if you choose a ‘good debt’, you actually gain money in the end. Home finance is one of these ‘good schools’ as you save on housing costs and protect yourself well against inflation. You end up gaining real wealth and not losing any, like investing in consumer goods. For this reason, don’t repay too quickly and stick to an initial repayment of 2% and a term of 15 years. That way, you won’t have to worry about rising interest rates either.

Follow-up loan – debt rescheduling and long-term planning

When financing, it is important that you prove to your bank that you are a future borrower. For borrowers who have already proven for several years that they are able to service the loan according to the contract, banks are happy to offer better conditions. At the beginning of a loan, the monthly installment is usually a large part of interest and only in the course of time, the share of repayment is larger. In a debt restructuring is therefore usually a part of the loan already repaid. For the banks this means that the loan-to-value ratio is lower than with an initial loan and also the consultation effort is lower, because the customers already know how a financing runs and what is expected of them. The bank therefore has less work to do with the customer and therefore the preparation of the offer is easier and takes less time.

So the banks have good reasons to woo debt reschedulers, as you can gain advantages from it. But also for the borrowers a debt restructuring is often more favorable. Depending on the financial market situation, interest rates can be so favourable that it is more worthwhile for you to reschedule an old loan than to continue paying it off at the old conditions. Today, the interest rates are often better than at the time you took out the financing. So if it can be assumed that interest rates will rise in the future, it is quite advisable to choose a long fixed interest rate and to secure good interest rates. Thus, you achieve a rapid adjustment of interest rates in the event of early termination of the old loan.

If you want to do everything right, start thinking today about how they will approach rescheduling your loan in a few years to secure good follow-up financing. These are even more worthwhile doubly if providers take over the costs of the debt rescheduling for the borrower.

Incidental costs – hidden costs when buying real estate

When a purchase contract is signed, the financing is already under wraps. However, the additional costs are often underestimated. The bills from the estate agent, notary, land registry and tax office come as soon as the loan is fixed. This is often set too low because of this. 20% ancillary building costs should be included in the loan at least in addition to the purchase price and are quite realistic. The overview shows the 4 biggest additional costs that you can expect when buying a house.

Fees – Notarisation of the purchase contract

The fees for the notary appointment are probably one of the largest items in the incidental costs of buying a house. Although the notary fees are fixed and may not deviate from them in any direction, they are also quite high. As a rule of thumb, about 1.5% of the purchase price is fixed – and that’s just for signing the purchase contract. So if you buy a property with a purchase price of 100 000 Euro, there are fees for the notary of 1500 Euro, which mostly have to be paid by the buyer. The exact fees for notaries in Germany are set out in the notarial fee schedule, but can also be calculated online.

Taxes – Real estate transfer tax for the tax office

As soon as the contract is signed at the notary and the purchase agreement is notarised, the buyer receives mail from the tax office. Next, the buyer is required to pay the land transfer tax. This tax varies slightly. Normally it amounts to 3.5% of the purchase price of the property in Germany. In some federal states, such as Hamburg, Berlin and Saxony-Anhalt, it is 4.5% of the purchase price. So for a purchase price of, say, 100,000 euros, you will pay another 3500 / 4500 euros for land transfer tax. This debt should be paid immediately, because only when the amount is received by the tax office, this issues the so-called clearance certificate. This is mandatory in order to make the transfer of the new owner in the land register. This is arranged by the land registry and costs fees again, which are comparatively low.

Commission – brokers calculate your share

If you buy a property or a plot of land through an estate agent, you must of course include the agent’s commission in the overall calculation. You will usually receive the invoice from the estate agent directly after the transaction has been recorded by the notary. How high the commission is varies and depends on various factors, such as the region. Usually it varies between four and six percent of the purchase price of the property. With a property purchase price of 100,000 euros, you pay between 4000 and 6000 euros only for the agent. However, it is important to know that it is well worth negotiating the broker’s commission, because this is known to have a large margin. A recommended total commission of 3.48 percent including VAT is a recommendable and realistic value.

Advantages & disadvantages – the purchase of real estate

The purchase of real estate also offers advantages and disadvantages. Depending on the individual life situation, different scenarios offer themselves more or less. However, a house purchase is always a large investment and should be well considered and completely thought through in any case. To help you decide, we list some of the advantages and disadvantages of buying real estate.

Find even more pros and cons to buying real estate!

Advantages: no rent, security and your own four walls

Buying a house can offer many advantages. By buying a house, you live in your own four walls, you are the master of the house and can design it according to his own wishes. In addition, you have no monthly rent that you have to pay and as long as the loan is paid off, there are only monthly utilities. A house also offers a lot of space and, depending on your life situation, plenty of room for family planning and hobbies. In addition, changes can be made in your own house at any time if you want to and you do not have to clarify this with a landlord beforehand. Another advantage is the security for old age, because even if the pension should not be so great, you can continue to live in your home and do not have to move to smaller or cheaper conditions. A house is also a part of the inheritance for the next generation and represents a value investment, because spent rent amounts are lost and cannot be passed on to the children and grandchildren.

Disadvantages: Debt and personal responsibility

The disadvantages of buying a house include, for example, the debt and borrowing that usually accompany it. Likewise, from the moment of purchase, one is responsible for the property and must have repairs, changes, etc. carried out themselves. In addition, they have a lot of space and room, which must also be maintained and thus, for example, work in the garden or cleaning the house and consume time. In addition, with a house they are tied to one location and cannot just move to another city or live abroad for a while, as they are entering into a commitment with the purchase.

House forms at a glance: List

In the real estate market, there are a lot of different types of construction. Both in the field of apartment and houses, there are many forms and types according to which a property is designed. These are divided into different formats. We have clearly listed some of the most common house and apartment types for you here. You can find more information about the respective property type in the corresponding article by clicking on the corresponding link.

Overview of house types: from bungalow to country house to prefabricated house

Here you will find a list with an overview of all common house types. The linked article provides you with more information about the respective house form, introduces you to peculiarities and definitions and you also learn which house type is suitable for whom and why. In addition, we present the advantages and disadvantages of each house type in the corresponding articles.

• Bungalow
• Semi-detached house
• Single-family house
• Half-timbered house
• Holiday home / weekend house
• Beach house
• Prefabricated house
• Country house
• Massive house
• Terraced house
• Villa
• Low-energy house
• Zero-energy house
• Passive House

Find a broker – You should pay attention to that

Especially when you are still young, you don’t immediately get the idea to look for a real estate agent, because it is assumed that you can’t afford it anyway. This attitude should not always be adopted from the outset, as there are situations where the buyer or tenant does not have to pay anything. But how much does it really cost to hire a real estate agent? What are the prerequisites for hiring a broker? What should one pay special attention to? What are the differences? What are the advantages of hiring a real estate agent? We have answered all these questions for you in this guide – article.

Hiring real estate agents – That speaks for it

First of all, you’re probably wondering if it might make sense for you to hire an estate agent. Here we have collected some arguments for you, which could convince you. Especially if you want to sell a property that you have an emotional connection to, it makes sense to hire a real estate agent.

1. Save time

No matter whether you want to buy, sell, rent or let a property, by hiring a real estate agent for your interests you save a lot of time. Mehr dazu: Lukinski Time that you would otherwise have spent searching for an interested party or a property can be spent relaxing at the lake or in the ice cream parlour. Brokers manage to bring buyers and sellers and tenants and landlords together very quickly because they represent both sides and therefore have many contacts.

2. Experience & large network

If you have found a good real estate agent, he will already have experience. This also means that the current legal situation is up to date and can compile the necessary documents for you. In addition, a real estate agent also knows the market and what sales and rental prices are appropriate. Through his existing network of sellers and buyers it will not take too long to find a suitable buyer or seller.

3. Less stress

When you hire a real estate agent, you have almost nothing left to worry about. Customer contact is also usually taken care of, so you don’t have to deal with unpleasant questions or negotiations. Not only are you covered for all risks, but it saves you a lot of stress and you can concentrate on other important things in your life.

4. A good price

What would be more annoying than selling your own property at a lower price than it would actually be worth? This is a crucial reason why you should hire a broker. Real estate agents are familiar with the market value and are therefore able to assess the value of a property well. You have the guarantee to get the best possible price for your property. Especially if you are emotionally attached to the property, this is for many a possibility to cope better with the situation, because those who are emotionally attached to a property tend to estimate the price too high and ultimately not to sell it at all.

Tasks of a Real Estate Agent – From Valuation to Object Handover

A real estate agent has many different tasks that you would otherwise have to take into your own hands. For this very reason it is especially pleasant to hand over all the tasks to a competent person and to save yourself all the stress. The tasks of a real estate agent range from initial consultation to the handover of the property. These tasks include:

• Creation of exposé + photos
• Property valuation
• Consulting
• Procurement of all documents
• Determination of a target group
• performance of inspections
• Negotiations
• Check of buyer creditworthiness
• Conclusion of contract + Notary appointment
• Object transfer

The costs – brokerage, commission & ordering principle

If, after these arguments, you have decided to hire a real estate agent, you will probably be interested in the costs next. As a rule, costs are always based on the usual market rules. The regulations vary depending on whether the property is to be leased or sold.

Most people immediately associate the term real estate agent with high costs. But this is often a misconception, especially when it comes to rentals.

Sales – Different regulations in the federal states

The brokerage fees are freely negotiable. They are usually up to 7.14% for a sale. There are no fixed rules for the sale of a property, in the federal states there are different rules for who pays the brokerage fees. There are regulations which state that the fee is divided between the buyer and the seller and other regulations which state that the brokerage fees are paid by the buyer.

Renting – The ordering principle

Since 2015, the buyer principle has applied to rental apartments, which means that the brokerage fees are always paid by the customer. It’s usually the landlord. The brokerage fee that may be charged in the event of success is not fixed by law. It is particularly often the case that two net cold rents and VAT are charged. If the landlord pays the agent’s fees, it is particularly interesting for people looking for an apartment to find an apartment or a house through a real estate agent, because everything runs smoothly and there are no extra costs.

Find a real estate agent – Ratings, Website & Personality

The decision has been made and you are looking for a good real estate agent who will take you to your destination as quickly as possible? It’s not that easy. In order for the whole thing to work, there are a few things you should keep in mind. We have put together some tips for you to follow.

Internet presence

Whether you should continue to deal with the suitability of a real estate agent, you can tell from the website. Which website looks professional and what is offered here? Is the website clearly designed? Are objects offered in your area? If this is the case, and the real estate agent takes care of properties in your area, you can be sure that he or she is familiar with your usual prices.

Rating

Good real estate agents have mostly already made many people happy. Especially because the search for a good property or a suitable tenant or buyer is so difficult, the joy is usually especially great if it has worked and a broker in a short time to success has helped. Most clients express their pleasure by writing a good rating to the real estate agent. Therefore, it is best to research the Internet first and find a real estate agent who stands out through positive ratings. Recommendations from friends or acquaintances in your area can also help.

Questions, questions, questions

A good real estate agent is happy about every question he gets asked. Especially if the broker has a lot of experience, he probably gets most of the questions asked daily and therefore immediately has the right answer ready. Ask him out and find out if he or she knows anything about the current market situation. Especially if he knows the current situation of your place well, the probability is high that he will get the best out of your situation.

Clear commission

A good real estate agent will discuss the commission issue with you from the start. In addition, the agreement made between you including the broker’s commission will be recorded in writing so that no disputes can arise. Never try to avoid the subject, because it is very important so that the whole thing does not become a huge problem.

Personality

Whether it’s renting or selling a property, it’s important that you get along with your real estate agent, as it’s usually a process that takes weeks or even months. If you are on the same wavelength with your broker, you have less inhibitions to express special wishes or requests.

check exposé

The exposé is the decisive sales document. To check whether the real estate agent is making a lot of effort for his clients, you can have a finished exposé shown to you and then know what your future exposé would look like. If this is neat and complete, then this broker might be right for you.