Why would you buy a house or apartment in Germany?
Having been in Germany for quite some time and fallen in love with this beautiful country so much that you never want to leave, you may seriously consider buying a house. After all, if you are planning on spending the rest of your life or at least a large number of years in Germany, then buying a house may be the smart thing to do. Another reason one may purchase a home in Germany is as an investment. The real estate in Germany is booming. Especially in metropolitan areas you will notice quite the increase in housing prices over the past few years. So if you are looking to make an investment in German real estate, this is a great time to jump into the market.
Are real estate prices in Germany higher than in United States?
The real estate prices in Germany are certainly higher than in the United States. If you have previously rented an apartment in Germany you will realize that your rent is significantly higher than what you would have payed for somewhere of an equivalent size in the United States. The reason for this is that although Germany is a relatively large country, the living space is small especially in comparison to the United States and thus the competition is high as is the demand for housing. Prices, however, do differ depending on what state you are looking at purchasing real estate in and how close to the city center you would like your new purchase to be.
How long does buying a house or apartment take?
Buying a house or apartment in Germany is a process, a long and sometimes daunting one. One can expect to spend numerous months before their purchase is settled. First of all there is looking for the property. You won’t want to just buy the first thing you see. You’ll want to get an idea of what is on the market. You will want to consult your real estate agent to see what prices are good for what area, what is too high etc. Provided you have finally found the one that you want and there’s nothing to hold you back from purchasing, you’ll have to figure out things like a mortgage, getting the legal aspect of things taken care of and of course signing your contract.
Where to look:
There are many places where one can start to look for houses or apartments to purchase in Germany. Initially you may want to check out a couple of websites to get an idea of the prices and what is on the market. Then you’ll want to contact a real estate agent and decide if he or she is a right fit for you. Having a real estate agents help in the initial stages will allow things to go a lot smoother.
Here are some real estate websites that you may find useful: