Home buyer tips 2020

Tips for home buyers

Whether you own your own home or a property with yield - finding the right property is not that easy: buyers have to make a number of decisions, starting with stable financing and looking up to the purchase contract. To make your project a success, we have put together the most important tips for property buyers here.

Convenient location, well-designed property, and the purchase price must be right: Anyone who wants to buy an apartment or house has many requirements. Rightly so: after all, buying real estate often has long-term effects on life. It should, therefore, start with a solid financial plan that also makes possible additional costs into account. At the same time, it is also worthwhile to deal with various funding options. Once the financing is in place, the next step is already easier: The search for suitable real estate offers is easy and straightforward from the couch. Anyone who has found their dream house or apartment should not rush anything: real estate buyers should critically review the properties of the property and take a close look at the land register and sales contract.

In 5 steps to the dream property - and valuable tips for property buyers

Step 1: plan financing

If you want to buy a property, you should set out your financial framework well. Few real estate buyers can pay the purchase price one hundred percent out of their own pocket and therefore decide to finance a loan. A high proportion of equity capital is an advantage because it often leads to more favorable conditions.

Consider additional costs - use funding opportunities

When it comes to financing, buyers should also expect additional costs: regular expenses for brokers, notaries, and land registry offices, as well as real estate transfer tax, can add up to over ten percent of the purchase price - additional costs are often added.

Step 2: Search and find the right property

One is planning his own home, the other the rental property - but property seekers are usually faced with the same questions: existing property or new building? In a central location or rather on the outskirts? The properties of the property itself, but also its surroundings are crucial. If you want to buy a used property, you should also take a closer look at whether renovation work is necessary. It is often helpful to consult an appraiser.

It is worth visiting and comparing several objects. The prices are often different depending on the region. So that property buyers do not pay too much, a property valuation can be helpful.

Search or let search: an individual decision

Going on your own to find a property or would you rather hire a real estate agent? For many a matter of consideration: A broker usually has a good overview of the market and saves the searcher a lot of work. If you search through ads yourself or place a search ad, you save yourself the broker's commission - in return, you have to do without the expertise of a specialist.

Real estate buying tips: There are other types of acquisitions

In addition to the traditional house purchase, there are also alternatives: the buyer can buy his property in the course of a foreclosure sale, property buyers with little equity can consider a rental-purchase and if you want to build yourself but cannot find a property, leasehold rent can be an option. 

Step 3: found the right property? Look closely!

If the buyer thinks he has found his dream home, he should not act hastily: First, he should look at the necessary documents and have them checked by an expert if necessary.

• When visiting the energy certificate, read it carefully: is the house a waste of energy or a saver?
• Check the land register before buying: Is the seller the sole owner? Are there loads and restrictions? Does the house have a mortgage?
• Take a close look at the development plan: Are there any restrictions when building or expanding a house?
• Is there monument protection or could the building be protected in the future?

To ensure that the property is not contaminated with contaminated sites such as chemicals, property buyers should take a closer look if they are interested in buying.

Step 4: Now it goes to the sales contract

Once all details have been clarified and the buyer and seller have agreed, the notary can be instructed to draft the purchase contract. 

Once the purchase contract has been checked, the notarized purchase process follows: Here, the seller often insists that the buyer provide him with a financing confirmation or proof of capital. If the notary contract is signed, the notary enters a release notice - a kind of binding reservation - in the land register. Only then the buyer makes the payment and has to pay the real estate transfer tax. The buyer then receives the necessary clearance certificate to be entered in the land register as the owner. 

Step 5: handover and relocation

If the property is handed over to the buyer, he should check its condition carefully and whether - if agreed - existing defects have been remedied accordingly. It can be worthwhile here to draw up a protocol and record the condition of the property precisely.

Buyers who use the property themselves still have to deal with the move. This is associated with the usual hustle and bustle: packing boxes, unscrewing cupboards and dragging furniture, unregistering and re-registering. In order to save at least a piece of the effort, some prefer to hire a moving company.

Last but not least: Protect your new property properly

Fire, storm, and flood: forces of nature, but also a broken water pipe can wreak havoc on your own property. On the other hand, owners can take out a residential property and elementary damage insurance.

In retrospect, anyone who has successfully completed the property purchase will hardly regret having planned everything with every step and having taken enough time - for example, to obtain additional financing offers, a second viewing, a property appraisal or to have the contract checked by someone Legal experts. Because all of these steps ultimately make it possible to secure the purchase well and to protect yourself from additional hassle or expense. This Tips for property buyers, tips for buying a house.

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