Checklist: Goals and criteria of the first condominium

When buying your first property, you should make a well-considered decision. You should set a goal for yourself, which criteria play the biggest role for you in a property and in no case buy for emotional reasons. Make your decision based on business facts and figures that compare well.

In the following post, we’ve broken down for you the points for setting goals when buying a property. Here are our eleven points summarized in short questions:

1. Self-interest or capital investment?
2. What is the maximum purchase price?
3. How low is the maximum gross rental yield?
4. Should I buy rented or unrented?
5. Which cities are eligible?
6. What is the perfect location?
7. Invest in existing or new buildings?
8. How old can a property be?
9. How big does a property need to be?
10. Ground lease?
11. Social binding or post-binding?

Step 1 – Self-interest or rather capital investment?

As already explained in our article on the subject of owner-occupation vs. capital investment, it is always better to use the first property as a capital investment. Because, with owner-occupancy, you always pay 100% of the running costs yourself. Capital investors, on the other hand, primarily let the tenant and the tax office pay.

• Here you will find everything on the topic of self-interest vs. capital investment

Here in brief what self-interest and capital investment mean:

• Self-interest: 100% responsible for costs
• Capital investment: Tenant and tax office pay

Step 2 – What should be the maximum purchase price?

This question depends on many factors. However, the most important criterion is probably the creditworthiness in terms of assets, as well as the monthly balance of assets and equity. These are all decisive factors for your bank when it comes to deciding on financing.

• Read more about maximum purchase price here.

Here is a brief overview of the most important factors:

• Credit rating
• Monthly balance sheet
• Equity

Step 3 – How low can the minimum gross rental yield be?

You want to make the biggest possible profit from your apartment. How high must the rental yield be at least so that the tenant ideally pays off the property and you yourself do not have to pay for repayment and interest?

• Read more about minimum gross rental yield here.

Here, in brief, is the formula for calculating the gross rental yield:

Formula: Annual rent / purchase price x 100 = gross rental return

This goal is also called efficient asset accumulation. Accordingly, the gross rental yield of an investment property should also be high.

Step 4 – Buy a property rented or unrented?

When buying an apartment for personal use, it is always advisable to buy unrented. The exception: notice of termination for personal use. For capital investors, however, an unrented property would be much more time-consuming, since you have to look for new tenants.

• Read all about buying rented or unrented here.

Buy unrented as an investment:

Here in brief the advantages and disadvantages!

Advantages:

• Renovation work: Immediately feasible and deductible
• Use of own lease
• Market rent

Disadvantages:

• Vacancy at the beginning: loss of rent
• Renovation expense

Buy rented as an investment:

Advantages:

• No time required for new leasing
• Payment behavior and behavior of existing tenants is known
• Low risk of vacancy

Disadvantages:

• Rental mostly below current market value
• Existing rental agreements must be taken over

Step 5 – Which cities are eligible?

A-, B- or C- location, where is the best place to buy my property? The central question here is whether I choose an investment property or a yield property.

• Read more about layer types here.

A, B or C position

Here is a brief overview of how which of the three layer types is defined:

• A-location (simply: metropolis)
• B-location (simple: large city / city with positive development)
• C-location (simple: small town / country in stagnation)

Where do I buy which property?

The different location types compare areas. Higher yields go hand in hand with lower appreciation. Therefore, depending on the location, one chooses between yield or investment property.

• Investment property: Only to be found in A-location
• Yield property: Good B- or also C- location

Macro, meso, micro location

After the comparison of the A-, B- or C- location, districts and the concrete neighborhood are compared.

• Read all about macro- meso- micro- location here.

Here is a brief overview:

• Macro location (A, B and C location, i.e. where in the country / which city?)
• Meso location (where in the city)
• Micro-location (exact location)

Step 6 – What is the perfect location?

Where exactly should I buy my first property? Owner-occupiers and capital investors, as well as yield properties or investors with the goal of value appreciation, accordingly, the decision of the perfect location is different. Here we go into the analysis again to help you find the best location for your goals!

• The perfect location

Step 7 – Invest in existing or new buildings?

When buying a home, in addition to the question of owner-occupancy or capital investment and return or investment property, one wonders whether to invest in existing or new construction. Both forms have their advantages and disadvantages. In this article, you will learn what they are.

• Read all about existing or new construction here.

Advantages of new construction

• Current state of the art
• Low risk for maintenance and repairs
• Co-determination in interior design

Disadvantages of new construction

• Higher purchase price and incidental purchase costs
• Lower rental yield
• High value loss at the beginning
• Other costs for public development

Step 8 – How old can a property be?

You want to invest in an old building? Then you need to consider a few things before buying. Old properties have some advantages, but also disadvantages. We have compiled a brief overview of all the facts of the different construction years in comparison.

The age of a property is a decisive factor when it comes to buying a property. But what are the differences and defects depending on the age and year of construction of a property? Is it worth investing in an aging house or apartment?

• Year of manufacture and condition

Step 9 – How big does a property need to be?

How big should my first property be? Micro-apartment, 2, 3 or even more rooms? This question is answered here by comparing living space for owner-occupancy and investment. In general, the number of square meters and the room layout is particularly important.

• Read all about the maximum size of a property here.

Here is a brief summary of the criteria for owner-occupants:

• Well-being has priority
• Plan sufficient living space for the future, e.g. family planning
• Area not too oversized > Purchase price, ancillary costs
• Equipment can be improved later

Here is an overview of the three goals for capital investors:

1. High rental yield
2. Good rentability
3. Few vacancies

Step 10 – Is a ground lease necessary?

When dealing with the topic of ground leases for the first time, many questions arise. What is a ground lease and does it make sense? Also one wants to know whether one can deduct the costs of the ground lease, the ground rent from the tax? All your questions will be answered here.

• Read more about ground leases here.

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

Step 11 – Social binding & post-binding?

Before looking for housing, you should know everything about the topic of social commitment in housing. Here you will learn all the pros and cons and what you can do everything from low-interest loans by public authorities for social housing, to obligations, to the grace period.

• Here you will find everything else about social binding and post-binding.

Social binding summarized in brief:

• Affordable housing through public funding
• Very good conditions for loans or grants
• Rent for persons with a certificate of eligibility for housing

The rebinding in a nutshell:

• Commitment to social housing until loan is repaid

What are niche perfumes?

Niche perfumes are high-quality, exclusive perfumes often produced by independent perfume houses or small companies. Unlike mass-market perfumes produced by large, world-renowned brands, niche perfumes are usually aimed at a smaller target group and are characterized by their uniqueness, quality and creative expression.

Here are some characteristics of niche perfumes:

Unique fragrance compositions

Niche perfumes are often characterized by unusual and creative fragrance compositions. Perfumers have the freedom to use unconventional fragrance notes and combinations, resulting in unique and distinctive scents.

• Exclusive perfume oils

High quality ingredients

Niche perfumes often use high-quality and rare ingredients. Perfumers attach great importance to the quality of raw materials, which can lead to a more intense and long-lasting fragrance effect.

• Expensive ingredients

Handicraft production: 8 steps

Many niche perfumes are handmade in small quantities to ensure the highest quality and control over the manufacturing process. This is in contrast to the mass production of perfumes of major brands.

1. Raw material selection: Fragrance selection, including essential oils, extracts and aroma chemicals.
2. Blending of fragrances: Careful blending of the selected fragrances in precise amounts to create the desired fragrance composition.
3. Alcohol base: The fragrance blend is added to an alcohol base to stabilize and preserve the aromas
4. Maturation: The mixture is left to rest for a few weeks or months to stabilize and develop
5. Filtration: the perfume is filtered to remove impurities
6. Bottling: The finished perfume is bottled and sealed
7. Quality control: checking fragrance quality and consistency
8. Packaging and labeling: the perfume is packaged and labeled with labels

Exclusivity

Niche perfumes are often harder to find than mass market perfumes. They are often sold only in selected boutiques, luxury department stores or directly from the perfume house itself.

Personal identity

Niche perfumes are often given a personal touch and a story that tells the inspiration behind the fragrance and its creation. This creates a close connection between the perfume and its wearers.

Price: More expensive than standard fragrances

Niche perfumes are usually more expensive than mass market perfumes due to the use of high quality ingredients and the complex manufacturing process.

Niche fragrances are popular among perfume lovers who are looking for individual, unique and high-quality scents that stand out from the crowd. They offer the opportunity to consider fragrance as a form of art and self-expression.

You want brands? Here you will find our niche perfume recommendations:

Niche fragrances for men: 9 tips for you

Men often appreciate niche perfumes for their masculinity and uniqueness. These fragrances offer distinctive scents such as wood, spices and leather, which give a refined and sophisticated look. The quality, individuality and ability to emphasize personality are attractive features of niche perfumes for men.

• Niche fragrances for men

Niche fragrances for ladies: 11 tips for you

Women are attracted to niche fragrances because they offer unique scent compositions that don’t follow the mainstream. These perfumes use high-quality ingredients and often tell a personal story, which creates an emotional connection. Women appreciate the opportunity to creatively express themselves through fragrances and wear something special that not everyone has.

• Niche fragrances for ladies

Simply unfold: Assembly made easy

Setting up a roof tent is usually straightforward. Most roof tents can be easily folded out or extended, making tedious tent setup on the ground a thing of the past. Setup often begins with you setting up the rooftop tent either over the ground or the side walls. This involves carefully unfolding the tent canvas. It is important to be careful here to avoid damage to the roof tent.

A straight floor is not as important for the roof tent as it is for a conventional tent, since this one on the car roof gives you a straight floor to sleep on anyway. However, if the vehicle is on too sloping ground, it can be difficult to set up the tent correctly. The ground may then prevent you from setting up the ladder in a straight line. This would be unfavorable, because in many cases the ladder serves not only as access to the tent, but also as a support to keep the tent stable. So make sure that the ground is reasonably level.

Equipped for wind and weather: additional steps

In the next step, many roof tents have additional assembly steps to make the tent even more stable. In some cases, additional poles may be required, for example, on the windows of the roof tent. These poles help stabilize the tent and ensure that it keeps its shape, even in windy conditions. For really stormy nights, most roof tents also come with lines for guy ropes, so-called storm guy ropes.

With this step-by-step guide, you’ll have your roof tent up and running in no time:

1. Set up over floor or side walls
2. Carefully unfold the tent canvas
3. Set up ladder (level floor)
4. Attach additional bars
5. If necessary: storm bracing

Structure in video: Learn fast & uncomplicated

Here you can see how easy and fast it is to set up a roof tent.

Roof rack & roof load: What you need!

First, you’ll need a roof rack or roof rail. This is your sturdy base to attach the roof tent to your vehicle. Make sure that the roof rack or roof rail has the required load capacity. For mounting, you would need proper fasteners, bolts and brackets to securely mount the roof tent on the roof of your vehicle. However, most roof tent stores offer on-site installation, which can make your job much easier.

• These are the things you should pay attention to before assembling and setting up your roof tent:
• Robust base: roof rack / roof rails for roof tent attachment
• Check load capacity: Roof rack / roof rails must be sufficiently strong
• Mounting requirements: fasteners, screws, brackets for secure mounting
• Professional help: roof tent stores often offer on-site assembly for convenience

Then you should also consider the roof load. But what is the roof load anyway?

How much roof load is needed for a roof tent?

The roof load of a vehicle refers to the maximum weight that can be safely transported on the roof. An approved roof load should compromise the stability and safety of the vehicle. You should be careful not to exceed this permitted roof load to minimize potential risks and accidents.

In the case of the roof tent, this only applies to the weight of the tent itself and the crossbars mounted on the roof rack or roof rails. If the specified roof load of your vehicle is 85 kg, for example, and your roof tent already weighs 80 kg including the mounting system, there is no reason to worry. This means you still have some weight left over for luggage.

• Roof load: Maximum weight allowed on the roof of a vehicle
• Concerns only the tent & crossbar on the roof rack
• Example: Roof load = 85 kg ⇒ Roof tent + roof rack = 80 kg (+5 kg luggage)

More about roof tent: size, manufacturer & comparison

Now you just need to find the perfect roof tent for you! These recommendations will help you:

Camping for two or with the family

To decide on the right size, you should first consider how many people you will be traveling with. If you still need extra space, then you should choose a larger roof tent.

Here you will find many tips for different roof tent sizes:

• Roof tent 2 people
• Roof tent 3 people
• Roof tent 4 people
• Roof tent 5 people

Roof tent manufacturer: Our recommendation

In addition to the different sizes, there are also different companies that manufacture roof tents. So that you don’t lose track of them, you can take a look at our favorites here.

• Roof tent manufacturer

Roof tent comparison: Your suitable roof tent

Looking for the right roof tent or strong accessories and equipment for the camping site? Here you will find our shopping recommendations:

• Roof tent comparison