Although only around half of Germans own their homes (the other half are renters), the country’s steady overseas investment in the real estate market makes investing there a good bet. However, there are a few things you should take into account before you begin your house hunt. Buyers from across Europe, Scandinavia the USA and other countries are flooding the German property market. Never has there been a better to buy or sell your property in Germany.
Investing in German real estate: why?
Consider these factors if you can’t decide between purchasing and renting a home in Germany:
- A house purchase may provide a sense of safety and independence.
- Homeowners have complete leeway in deciding who provides their utilities, constructing additions or alterations, redesigning the inside, and keeping pets on their land.
- If you have cash languishing in a bank account where it is unlikely to grow in value, you might consider buying a property instead.
- In example, Germany’s real estate market is relatively stable and its mortgage rates are low (about 1-2%).
Checklist for Acquiring Real Estate
Doing your homework before making one of the largest purchases you’ll ever make will help you avoid any unpleasant surprises. If you don’t know where to begin while looking for a home in Germany, we’ve compiled a helpful checklist of things to think about.
First-Time Home Buyer Taxes and Other Fees
It’s not as easy as getting a mortgage and making an offer on the house of your dreams. There are also a number of extra fees and taxes to consider. Finding out what to expect might help you avoid the unpleasant surprise of additional charges.
A Look at German Mortgages
A mortgage loan is required by the vast majority of homebuyers. Which unique conditions apply in Germany? Find more about the various mortgage options and how to apply for one. Discover more with our expat mortgage guide to Germany.
Investment homes for sale in Germany
Anyone from outside of Germany, regardless of where they now reside, is free to purchase real estate in the country. Therefore, if you are not a German resident but still want to invest in real estate, you can purchase a rental property or opt to rent out your current residence. Rental homes may be lucrative for property owners, but tenants in Germany benefit from having strong protections under the law.
Money Set Aside For You
The cost of a house purchase might be substantial. The German government has made a number of grants, loans, and allowances available to people who are concerned about taking on unmanageable debt. This comprises financial support for a variety of housing-related goals, such as the acquisition or construction of a new dwelling, the installation of energy-saving features, and the acquisition of a family’s first house in Germany. Contact us today to buy or sell property in Germany fast online to overseas investors.