In order to fulfill the dream of owning a property, it does not always have to be a new building . Depending on the condition of the property, you can save to house purchase an existing property to months of construction tress and can also perhaps get hold of in a desirable location for a house. Similar to a new building, there are some questions that you should ask yourself at the beginning of your property search. Make sure in advance in detail what wishes you have regarding your future property and what your dream property should bring everything.
The right location
If you decide to buy a house, this is usually a lifetime choice. That’s why you should take a closer look not only at the building but also at the location . After all, the situation has a decisive influence on the value of the property. But what makes a good location? First of all, the perfect location does not exist, because a family with 2 children has different requirements than a single household or a retired couple.
Nevertheless, there are some criteria that play an important role in the purchase of real estate for most people.
Basically include to good infrastructure, the connections that have been on the road network and public transport. Furthermore, it may be of interest whether there are shopping facilities and doctors in your area. If you like to do your errands on foot or by bicycle, it can be an advantage if the most important points of contact are within walking distance. Likewise, it may be of interest to potential buyers with which means of transport they can in the future reach their employment. Not to be forgotten are factors such as supply (eg electricity, district heating, etc.) and disposal (garbage, wastewater), because they are also part of the infrastructure.
Be sure to check your environment for noise during one of the first sightseeing tours. Is the property in an area with a lot of industry? Are railway tracks running along your property ? Is your property in close proximity to a motorway?
Inform yourself in advance at the building office, if there are already building permits for real estate in your immediate area. So, even before you move into your house, you know whether the current prospect may not be permanent or whether you will have construction noise in the coming months.
Also, the leisure offer can be a factor that speaks for or against the location of a property . Think about what you do not want to do without in your immediate vicinity. Gyms? Sports clubs? Theatre? Cinema? Bars and restaurants?
In the end, there are different factors for each person that decide for him or her about a good situation. Take notes and consider in advance what is important to you and where you are willing to compromise. Sometimes, having a conversation with potential neighbors can help resolve questions and ambiguities about the situation.
Condition of the property
Even if the property seems perfect at first glance, do not be fooled by the first impression and act hastily. Many flaws are not obvious at first glance and require a thorough review . Examine the house thoroughly and make a note of any potential weaknesses . If you decide to buy despite some shortcomings, a list of shortcomings can help you negotiate the purchase price.
The following questions should be clarified during the visit:
– In what condition is the thermal insulation of the property?
– What is the condition of the masonry?
– Are there any stains on the walls that indicate mold and moisture?
– In what condition is the roof?
– What is the nature of windows and doors?
– How old are the pipes and heaters?
So that nothing escapes you during the inspection, it can make sense in each case to visit the object together with a professional . An independent appraiser can help you to detect hidden defects at an early stage.
Apart from a structural analysis, you should in any case check all documents of the house during one of the first visits.
One of the most important documents when buying a home is the land register excerpt . The land register extract is a copy of all the data from the land register of a property and gives you the details of the object of inspection.
You should also have a list of all consumption costs show and take a look at the energy certificate of the property. This review will help you to get a first overview of the costs involved. An energy pass has been mandatory since 2010 and may be inspected during a real estate visit. On pages two and three you will find the most important information compiled in a graph. The total energy efficiency gives you information about the consumption of the object. An inspection of the energy certificate or an annual statement can protect you from unexpectedly high additional costs.
Furthermore, you should take a look at the building permit of the property. If you are interested, clarify in advance whether extensions may be made on the property or whether certain work on the premises requires approval. Other important documents may be construction plans or valuations .
Before the first visit, make sure that you have a checklist of all the points that are important to you when you buy a house, so that you do not lose track of things and can easily make notes on the various areas during the visit.
If you are currently unsure whether buying or renting is the right decision for you, the LPO mortgage calculator can give you an initial overview of how much the rental costs would be for the period of repayment of a loan.
Do you still have questions about buying or renting? Or would you like more detailed information on mortgage financing, financing, subsidies or similar? Your LPO financial partner in Kiel, Hamburg and Flensburg is at your side from the initial consultation through to the purchase price payment. For LPO your wishes and possibilities are the focus of personal consultation.