5 tips for finding a property

High prices, high interest rates – how are you supposed to find an affordable property now?! The changed market situation has unsettled many home seekers. They're postponing buying a house and turning back to the rental market. But here, too, rents are rising with demand. So, renting isn't really an alternative. Buying a property is still possible if you prepare well.

1. The simplest solution

Especially when supply is limited and prices are high, it makes sense to seek assistance from a local, reputable real estate agent. They might even already have a suitable property in their database. If not, you can create a search request with them, specifying all the criteria your dream property must meet. Furthermore, they will support you in finding suitable financing and work with you to determine how much property you can afford. They will handle all the necessary steps up to the property handover and will continue to be available to you even afterward.

2. How can I afford a property?

If you decide to tackle the property search on your own, you should first check what types of property your budget allows. There are various ways to manage your available budget. For example, you could increase the loan term or monthly payments, or alternatively, look for a smaller property. Which option suits you best depends on your individual circumstances. When considering your budget, also factor in closing costs, ongoing property expenses, and costs for any necessary renovations.

3. What criteria must my property meet?

You should have a general idea of ​​your dream property. However, you should also be flexible. Be clear about which criteria your property absolutely must meet and where you can compromise. Do you want a house in the countryside or an apartment in a trendy neighborhood? Will your children be moving out soon, or are you expecting more?

4. Where do I look for real estate?

It's definitely advisable to consult a professional real estate agent in the region where you're looking for a property. Otherwise, properties are now primarily offered online through the major real estate portals and even classifieds sites like classifieds, Facebook, or Instagram. You can also still find listings in local weekly newspapers.

5. What documents does the seller want from me?

Many sellers require proof of identity, such as a national identity card, as well as a financing confirmation from the prospective buyer's bank. Furthermore, some also want to see proof of creditworthiness, such as a Schufa report. The specific requirements of a seller vary from case to case. You are always well advised to consult a real estate professional.

Do you need assistance with your property search? Contact us! We'd be happy to advise you.

Notes

For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

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

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