Finally in your own home – how to make it happen now

Property prices have fallen sharply in recent months, while interest rates have stabilised and recently even fallen slightly. Is this the ideal time to enter the property market? Max and Anna K. have proven that it is.

Max and Anna K. have made one of the most important financial decisions of their lives: The couple bought an old house to live in in the future. They turned a disadvantage of the house into an advantage: the house from the 1970s was long overdue for an energy-efficient renovation, but because they sought advice from a property professional, they were able to reduce the asking price by 20 per cent. They also took the following steps to make the house purchase a success.

Financial planning and budgeting

Max and Anna drew up a detailed financial plan and calculated not only the purchase price, but also additional costs such as taxes, notary fees and renovations. A financial advisor helped them to realistically assess what they could afford and which financing options would suit them.

Market knowledge and property selection

In addition, Max and Anna have intensively analysed the current market conditions and sought advice from an experienced market expert in order to find a fair offer. He also accompanied them to viewings and helped them to ask the right questions and identify the best offers.

Legal aspects and contract review

Buying property involves many legal hurdles. Max and Anna had to make sure that all contracts and documents were legally sound. Here too, their estate agent helped them to clarify the legal aspects and ensure that there were no hidden pitfalls in the contract.

Location and neighbourhood

The location of a property is also crucial and should fit in with your life plan and be compatible with your job. Max and Anna carefully weighed up the pros and cons of different regions, both urban and rural. They drew up a list of their priorities, such as proximity to schools, jobs and leisure facilities, and visited the neighbourhoods at different times of day to get a realistic impression.

Condition of the property and renovation costs

Many properties looked perfect at first glance, but had hidden defects. Max and Anna had to have the condition of the properties checked carefully. Here too, their property professional was able to help them. He also recommended a renovation expert who could realistically estimate the costs and advise them on state subsidy options.

Negotiation and finalisation

As already mentioned, their property professional helped them negotiate a fair market price and complete the purchase process smoothly. They successfully overcame the legal and financial challenges with the support of their estate agent and advisors. After months of intensive searching, planning and negotiating, Max and Anna finally bought the property that they are now turning into their dream home.

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Hint

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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