1. Check out what you can afford
Know exactly the monthly repayments you can afford and the maximum loan amount you can borrow from the bank
2. Search for Properties
Income generating properties that cover your mortgage costs, taxes and property management fees
3. Bank account opening
Open a Bank account in Germany in parallel to the mortgage application process.
4. Who is your tenant
Future tenants: Students and less affluent singles prefer one-room apartments. These apartments are usually rented out quickly, but have a high velocity in tenant changes.
5. Location
Good location: A good infrastructure with supermarkets, cultural institutions and companies that provide jobs make a residential area attractive. A residential area with positive development prospects will still be of interest to tenants in several years' time.
6. Low additional costs.
Poor insulation or outdated heating systems drive up the additional costs for tenants. Too high ancillary costs deter many apartment hunters, as they not only keep an eye on the rent excluding the heating, but also the rent including electricity and heating.
7. Floor plan of the apartment
Tenants prefer large, bright rooms instead of small or poorly designed rooms. If the floor plan of the preferred apartment is not perfect, an expert can determine whether the room layout can be changed with reasonable effort. It's worth it, provided that the property's location and price are right.
8.Type of Investment
- Apartments or Multi-Family Housing
- Commercial real estate
- Heritage Properties (Monument Protection Act)
- Student Housing
- Elderly Homes
Summary:
And always remember to buy properties in good areas with high tenant demand, economic growth, population growth and investments into local infrastructure.
As. a real estate buyer it is your duty to check and make an assessment of the property. Every missed detail can have serious consequences for your return calculations .
Property Details
Construction year:
Number of Rooms:
Gross SIze in Sqm:
Net Size in Sqm:
Car Park:
Cellar:
Appereance outside the building
Landscaping
Outdoor Lightning
Outdoor Garbage Can
Front Door Mailbox
What you need to check inside:
insulation, facade, windows and doors, entrances and stairwells, floors, ceilings, heating, electronics, underground car parks, basement, balcony,
