Rent, buy, live in Bochum

Real Estate Urban lead a dynamic and experienced company that specializes in brokering, selling and renting real estate in Bochum. FIV Magazine has talked to the real estate agent team from Bochum in an interview about attractive districts, financing options and the Bochum real estate market. Here you can learn everything about buying your first home, different types of houses and apartments.

Overview of Bochum and surrounding cities:

Bochum from close up:

Rent: Contract & Settlement

After the successful purchase of the property and the execution of the purchase contract, you naturally want to furnish your newly acquired property according to your individual needs. From the living room furnishings, to the garden design, nothing stands in their way of your creative imagination.

Buy: Return on investment through real estate

In our interview you will learn everything about real estate and returns in Bochum. Should you buy a property in Bochum or is it more worthwhile to buy nearby, for example in Witten or Herne?

Real estate agent interview about real estate in Bochum

The first condominium or real estate as an investment? In this interview you will learn the most important tips & tricks. Buy, rent, live in Bochum but also tips for capital investments. We ask the questions, he provides the answers.

Urban real estate: Real estate agent in Bochum

FIV: Before we talk about Bochum and its real estate market and your recommendations for tenants and buyers, we would like to know a little more about your agency Immobilien Urban. Could you briefly summarize for our readers what your agency does and what you specialize in?

Immobilien Urban: I founded Immobilien Urban GmbH almost five years ago as a young and innovative real estate agency. We have specialized in the sale of residential real estate. We would like to set ourselves apart from old-established brokers in Bochum and the surrounding area with our service and our open and communicative manner. Technical means, such as drone photography, professional object photos, visualizations of exterior and interior spaces, as well as homestaging raise the brokering to a new level. It is our claim to inspire not only the seller, but also the prospective buyer.

Buying a property: emotional decision

Despite all the possibilities offered by technology, the purchase of a future home is “fortunately” still a very emotional decision. The communication with prospective buyers and a personal inspection as well as consultation are therefore essential. Our greatest ambition is to present the property perfectly and to accompany buyers as well as sellers in the best possible way during the buying or selling process.

Hallway in a luxury property in Bochum:

Real estate mediation

FIV: As an agent in Bochum, which properties do you personally prefer to broker?

Urban Real Estate: I prefer to broker the classic single-family home. Here it is primarily about emotional decisions and not about a rational return. On the one hand, I try to pick up on the seller’s personal connection to the property and incorporate it into our exposé. It is often an emotional moment for our clients to decide to sell their home.

The only thing that helps is a close exchange of ideas and a response to the seller’s personal wishes. On the other hand, prospective buyers are in the process of fulfilling their dream of owning their own home, and it is a pleasure to be able to accompany this process in most cases. Especially the handing over of the keys and the anticipation of the buyers for the object motivate me for further tasks. I help people with an important step in their lives and this task I take very seriously with pleasure.

Districts with future opportunities: Stiepel & Altenbochum

FIV: Neighborhoods for Singles, Families & Co. – For those who don’t live in Bochum yet and want to move to Bochum, which neighborhoods have a future? Where should you move to in Bochum if you want to live nicely?

Urban real estate: Bochum is on the whole a very beautiful and green city. Often as a gray mouse in the shadow of the big ones, Essen as well as Dortmund, Bochum offers singles and families very much quality of life. The complete south over Weitmar, Altenbochum as well as Stiepel, in order to name only the largest districts, offers families short ways and a large leisure offer. As a university city, it also offers singles many small apartments in and around the city center.

Real estate agent Peter Urban:

Ehrenfeld as a popular district

Especially the Ehrenfeld district, south of the city center, has grown in recent years into a very popular hotspot for young people on the one hand, but also for wealthy families for whom the short distance to the city center is important. This continues to spread in the direction of Springerplatz. Every Friday afternoon, for example, the Moltkemarkt takes place on Springerplatz, this offers special culinary experiences from merchants from the Bochum area. Here, especially in nice weather, many families with children meet and start the weekend with pleasure.

Young people and singles of all ages then find their way to the Bermuda Triangle. There are countless restaurants and pubs there.
But Bochum also has many beautiful neighborhoods to offer for families with lower incomes. It is particularly pleasing that there are no social hotspots in Bochum. Most of the neighborhoods have a very balanced population and that is what makes Bochum so special.

Development of rental prices in Bochum

FIV: Rents are a big topic, all over Germany. How has the real estate market and rental prices in Bochum developed in recent years and how will they develop in the future?

Urban real estate: In Bochum, too, purchase prices and rents have risen sharply in recent years, to be honest. However, with the exception of a few districts, we are still far from the prices in Düsseldorf, Cologne or Münster. Bochum offers sufficient living space for families of all income levels, even if the search for a single-family home is becoming more and more of a waiting game. Due to the many former miners’ settlements, however, there are also many alternatives to new construction.

The houses are somewhat older, but have large garden plots and offer a lot of potential. The purchase prices are much more affordable than a new construction project. In the future, the market will remain tight and will depend on interest rate policies. If these remain at the current level, owning a home is a perfect alternative to renting. For an investor, the investment in multi-family housing remains a perfect alternative to a savings account.

The office of Urban Real Estate:

Rent or buy as a young couple/ single person

FIV: In Germany, more people rent than buy. What would you recommend to a young couple or even a single person, renting or buying in Bochum?

Immobilien Urban: This is not an easy question to answer, because many personal factors of the seekers play a big role here. How flexible do I want to remain, how do I envision my future. Quitting a rented apartment often doesn’t require an emotional decision, which is likely to be much more difficult with a home of one’s own. We recommend taking one step at a time. Real estate has always been a stable value investment, so we always tend to buy, but it must fit into the life situation of the seeker.

Typical mistakes when buying real estate: tips for first-time buyers

FIV: Anyone who rents in Bochum is relatively flexible and can move if necessary. Anyone who buys a property, whether a home or a condominium, is at least tied to the property in the long term by the loan or financing. What are typical first-time buyer mistakes from your experience as a real estate agent and how can you avoid them?

Immobilien Urban: Many first-time buyers are inexperienced in terms of the buying process and the liabilities that a property entails. We can only recommend to everyone to get many opinions, to compare the market and not to make any hasty actions. The purchase should be well considered and fit into the medium-term life planning. In recent years, however, a purchase has rarely turned out to be a mistake, because even if your own use is no longer an option, an apartment or even a house can be rented out well.

The long-term nature of financing a property should, of course, always be linked to life planning. If you are planning to buy or even build something, always seek advice from an external expert. Both in terms of the condition of the property, but also on the financing of the object and on tax issues.

• Get many opinions
• No rash purchases
• Linking financing to life planning
• Broker advice the be-all and end-all
• Condition check of the object
• Financing & Taxes

Incidental expenses and taxes of a real estate

FIV: The purchase price of a property is one thing, but what ancillary costs and taxes must buyers in Bochum expect?

Urban real estate: In addition to the purchase price, the buyer has to pay the so-called ancillary purchase costs. First and foremost and the largest part is the land transfer tax. Here relatively briskly after the notarial authentication 6.5% of the purchase price become due to the tax office. Furthermore, the buyer bears the costs of the notarization at the notary, about 1% of the purchase price, as well as all costs that have to do with the processing of the purchase contract, for example, all entries in the land register. Here, too, you have to calculate with about one percent. Thus, the incidental purchase costs amount to about 8.5%.

Incidental costs at a glance:

• 6.5% of the purchase price to the tax office
• 1% Notary
• 1% Land register
• 8.5% Incidental purchase costs

Another important point is the brokerage fees. Here, the federal government has created a novelty. The buyer’s costs may not exceed the seller’s costs. This means nothing other than that the seller must either pay the entire brokerage fee or can pass on a maximum of half of it to the buyer. This must be clearly evident in the exposé for the prospective buyer. However, this regulation only applies to the purchase of condominiums as well as detached and semi-detached houses.

The modern office building from the inside:

Capital investment Bochum: Most future opportunities

FIV: Bochum neighborhoods for real estate investment – Let’s move on to real estate as an investment in Bochum, for those who want to buy and rent. If our*r reader*in decides for the purchase, with following letting: Which 2 districts or satellites around Bochum would you recommend to a buyer for their capital investment in Bochum? In your opinion as an expert, where do the most future opportunities lie?

Urban real estate: When investing in real estate, I would always recommend paying attention to the infrastructure. Apartment sizes must fit the location of the building. There is no point in owning small apartments outside the city, it will be just as difficult to rent out family-sized apartments in the city center. A good investment is also characterized by the ratio of the purchase price and the rental income, this should be balanced and be able to guarantee a long-term planned rent. The choice of the district depends solely on the willingness of the buyer to take risks. For the beginning with a manageable risk, districts such as Altenbochum, Weitmar or Riemke are perfectly suitable.

Objects in which to invest

FIV: In your opinion, what type of real estate has a future in Bochum, what should one invest in? Small, large, existing, new construction?

Urban real estate: This question cannot be answered so sweepingly. Bochum is a university town, small apartments for students are essential. The campus around the university continues to expand every year and there is a need for more housing for students and university employees. Small age-appropriate apartments are also needed and built for older city residents. On the other hand, Bochum has a great need for family-friendly apartments that are affordable for everyone. We often have well over one hundred inquiries for an advertised 4.5 room apartment, which speaks for little choice in the area. I prefer a healthy mix.

What’s wrong with building houses with different apartment sizes, mixing families with students and seniors?

Private investors are very important for the real estate industry in Germany. In addition to looking at returns, they must also look at the efficiency of buildings. CO2-neutral construction will certainly be a major topic in the future. It is important that the higher construction costs are offset by subsidies and support from the state and do not necessarily have to have an impact on rents. Real estate must remain an attractive investment in order to create more living space for all age groups and social classes.

Sell house or apartment in Bochum

FIV: Lastly, one more question – you had mentioned the typical mistakes buying a property. Many buy, but some also want to sell. As an experienced real estate agent in Bochum, what tips can you give to those who are selling a property for the first time? What are the first steps and how to sell a property in Bochum successfuly?

Immobilien Urban: Of course, we can only advise every seller to hire a real estate expert. It starts with the determination of the selling price, continues with the compilation of all necessary documents and the preparation of suitable photographs as well as an exposé. Often, these things are underestimated and the search begins after the first visits. We offer a property only when all the necessary documents have been compiled. As a more experienced real estate agent, I have a good eye for a possible target group of interested parties.

This is important for the presentation of the property in the exposé. Our real estate agency also has a large database of searchers. This has the advantage that specifically selected interested parties can be adressed directly. We have enormous success with this and often find the suitable buyer after only a few viewing appointments. Also in negotiations about the purchase price, it is always easier if you can communicate your ideas to a third party, without a lot of emotion. It is then my task to implement these in the sense of the seller. Bochum has the advantage that there are many good real estate agencies, but to stand out from many others is a task that I gladly accept.

Avoid mistakes with these steps:

• Determination of the sales price
• Compilation of all documents
• Creation of suitable photographs
• Council: to hire a real estate agent

Thanks to Immobilien Urban for the interview!

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Downtown: living in the city center, basketball, ballet, opera

The Miami Downtown District consists of several small, subordinate neighborhoods. During the day and into the evening, downtown Miami is particularly busy. Miami’s basketball team, the Miami Heats, draws many people (even from out of town) to the American Airlines Arena to watch the games. In the Adrienne Arsht Center, where the Miami City Ballet and the Florida Grand Opera are located, there are always many visitors who want to enjoy a piece of culture, as well as in the Art Museum Miami.

Brickell: Life in the city and financial centre

Downtown Miami, in addition to being home to much of the nightlife, is also the center of South Florida’s finances. Many bankers in particular make their home in the expensive district, especially the Brickell subdistrict. Brickell is distinguished by its many skyscrapers, which make up much of the downtown area anyway. In the bursting floors of the skyscrapers are often luxury apartments, which are adapted exactly to the demands of the wealthy bankers who work there. The surrounding eateries are also on the more expensive side, offering mostly high-end food and cocktails. So living in Miami’s urban core is rather difficult for most. Nevertheless, there is also a numerous and well-visited art scene, as well as high-quality shopping opportunities.

Key figures:

• Population: 66,769
• Area: 9,842 km²
• Population density: 6,780/km²

Coconut Grove: Living in the green, parks & forests

Coconut Grove is perfect for living for those who want to live in a big city but still don’t want to miss the green. Coconut Grove has large parks with forests and green spaces spread throughout the neighborhood. What is special about the district is the CocoWalk Mall. At CocoWalk Mall, there are numerous designer shops and restaurants that make it easy to spend a day there. Besides shopping and dining, you can also just walk around and enjoy the new and impressive building as well as the palm trees of Miami.

Green spaces & boutiques

Due to its exceptional natural location, which makes Coconut Grove the greenest neighborhood in Miami, it is relatively expensive. The many parks and forests make the district very interesting and the large areas easily allow the construction of space-consuming, large houses. The people who live there have opened many cafes right on the roadsides, easy to reach after a walk. But there are also shopping opportunities in the chic boutiques that dot the streets.

Key figures:

• Population: 20,076
• Area: 14,52 km²
• Population density: 3,091/km²

Wynwood: Art, Galeries & Industrial Park

The Wynwood neighborhood is located in East Miami and is a very artistic neighborhood. Wynwood was once a pure industrial area, but over time it became the most artistic neighborhood in Miami. On almost all house walls there are large paintings in the huge outdoor museum ‘Wynwood Walls’ which give the entire neighborhood a colorful and creative flair. Everywhere in the fourth are various art galeries to be found that further underline the creative of the district. The young neighborhood is also known for the many restaurants and bistros that are located throughout the neighborhood, along with modern boutiques for shopping.

Great entertainment

Wynwood has (besides mostly quite young residents) a large amount of clubs and bars. Accordingly, the neighborhood is still known for the lively nightlife, which comes from the residents of Miami and the also young tourists. You can go dancing or just have a drink, but it never gets boring here. In the 1950s, many people from Puerto Rico immigrated to this neighborhood, which also brings many cultural aspects to the district with many bars and restaurants that offer traditional food.

Key figures:

• Population: 8,621

Little Havana: culture, restaurants, music

As the name suggests, Little Havana is a Cuban neighborhood of Miami. Thanks to Miami’s location, it has been very easy for Cubans to come to Miami and so a South American flair established itself throughout the city, which makes up a large part of the culture seen there. Especially in Little Havana on the east coast of the city, many immigrants have felt at home and settled and started families there, making Little Havana a very old part of town. For example, in ‘Dominoes Park’ (actually: Maximo Gomez Park) you will find Cuban domino players spending their days there. Cuban restaurants, music, shops and many other parts of the typical Cuban culture like the sale of cigars. If you feel comfortable among colorful shops and easy-to-reach street food, Little Havana is the place for you.

Open nightlife

Thanks to the long-standing introduction of Cuban culture to the American part of town, it’s impossible to miss the opportunities to check out and try out the themed restaurants and galeries in Little Havana. Most people move to the colorful neighborhood for this very reason, enjoying a different food and looking at typical Cuban art every day. A big part of the nightlife with Latin clubs and bars is again the origin of the inhabitants, who form the majority in Little Havana. Especially the young crowd comes to party in the neighborhood. The nightlife is very lively and popular. Also by the young inhabitants of Little Havana.

Key figures:

• Population: 76,163
• Population density: 8,423/km²

Miami Beach: Exclusive living on the beach

Miami Beach is an island in the east of Miami directly in the Atlantic Ocean. The island offers great opportunities especially for those who like to spend time at the beach. Miami Beach is also characterized by its unusual architecture, which can be found especially in the south of the city. The neighborhood is perfect for the younger crowd. There are numerous beach clubs and beach bars due to the location of the neighborhood that the area is so well known for and are frequented by residents and tourists alike throughout the year. The always good weather in Miami also allows you to visit the beach all year round without any worries.

Cult Quarter: Ocean Drive & Co.

Ocean Drive is what made Miami Beach famous. Besides the Art Deco hotels that are located on this street, this is also Miami’s most famous film location. Scarface, for example, was filmed directly in front of the Sunray Apartments in Miami and made Ocean Drive, among other things, as famous as it is now. But also other movies and series were filmed in Miami Beach. Furthermore the Casa Casuarina is located on Ocean Drive. Former home of the designer Gianni Versace, who was tragically murdered directly on his own steps in front of his house. But the entire Art Deco Hostoric neighborhood, which is part of Miami Beach, is known for the bright and same architecture spread throughout the neighborhood.

Key figures:

• Population: 87,779
• Area: 39,42 km²
• Population density: 4,461/km²

Palmetto Bay: Safe neighborhood for families

There are numerous single family homes for sale and rent in Palmetto Bay. The residents of the suburb place a high value on a safe environment in which one can and wants to raise their children. As such, the neighborhood’s numerous private schools also lend themselves to young families. The safety of their neighborhood is very important to the residents of Palmetto Bay, and they place a lot of value on a residential neighborhood where everyone can feel safe and in good hands.

Suburban advantages

Since you can get in and out of the city incredibly easily at any time thanks to the excellently planned traffic connections, the quiet living in the suburban area of Palmetto Bay offers itself perfectly as a retreat from the city. Living in the city without the noise and the many people offers the living in the suburban area Who it has become too crowded and too noisy, who moves for example to the Familiengründing out of the city, but does not want to miss it completely and can visit it at any time because of the bars or restaurants quite easily and does not have to be forever on the road for it. Since family planning is an important issue for many in Palmetto Bay, there are also many private schools in the neighborhood, which suggests that it is generally an affluent neighborhood.

Key figures:

• Population: 23,410
• Area: 21.46 km²
• Population density: 1,142/km²

Key Biscayne: Living between National Parks

Key Biscayne is an outlying area of Miami, which is located in the south and directly opposite Miami Beach. The people who decide to buy a house or an apartment there are mainly looking for nature and would rather live in the green than in the noisy, bright and densely populated downtown Miami. The district convinces with two adjacent national parks and the large, great beaches, which also visit numerous tourists every year, when they are on vacation in Miami.

Nature and beaches

Key Biscayne is mostly known for the great nature that can be observed there. The neighborhood is located outside of Miami and is surrounded by two national parks. Crandon Park and Bill Baggs Cape Florida State Park. Besides the two parks, there are also many forests, mangroves and breathtaking beaches.

Key figures:

• Population: 12,344
• Area: 4,42km²
• Population density: 3,976/km²