Hi all 👋 I’m interested to buy a 3-4 room flat in Bavaria, some place quiet with access to Kita and schools. Have some money piled up, it’s not much but now I was wondering “where to next?”
I’ve asked some of my friends and some tell me I need to get in touch with an “Immobilien Gutachter”; I’m not that familiar with the terminology currently but I’m trying to!
If anyone has some good resources I could look into, please share. Thank you so much 🙌
I wouldn’t buy a flat, personally. They are pretty expensive yet you still have no freedom to do whatever you want, since you need to coordinate and approve stuff with the community association (“Eigentümeregemeinschaft”; all the other people in the same house owning flats). You are also typically required to still pay a monthly amount onto a shared bank account that is used by the community association for repairs, etc. So it’s not even much cheaper than paying rent; and you likely still have to pay back the credit and interest for actually buying the flat (which, at that size, can easily be half a million Euro).
So basically … you pay a lot of money for barely more freedom than when renting, you don’t save much cost and you get a lot of responsibilities. In other words: if I only want a flat, I would rent it.
the way you put it, ofc it doesn’t worth it financially. How about a small house with a patch of lawn? Does one have to be part of Eigentürmergemeinschaft in this case as well?
The only thing which guides me towards buying is the control over the rented property. The landlord can decide anytime to raise price. Not sure what’s the rule for kicking out of the flat. We’ve been living in the same flat for 2,5y now without any issues but just for myself, I’m missing this control, hope you get my feeling
If you have a patch of land with a house on it, you have almost full control. Of course there are a few laws you have to follow, but all in all you have full control (and responsibility) over the land and the house. It’s always a good idea not to needlessly piss of neighbors, though.
If your main fears are being kicked out and increasing rents, then genossenschaften might be interesting to you. The house is owned by a group of people, usually the group that lives in it and you have to be a member to move in. But there is no interest in ganing money with the house so rents dont increase if not absolutely necessary - its the habitants who decide… and in all genossenschaften i know you can live foreever. No kicking out possible. For me it combines the pros of renting and owning.
Only complication: its hard to become a member in established genossenschaften since most of them are full. But there are new ones every here and there…
wow thanks! I didn’t know about this one, will look into it
Glad to help. :)
Hey. You also need to put money aside for repairs if you buy a house. And I would except that a house will be more expensive than a flat.
Are you talking about the greater Munich area? Cause then you’d better have piled up quite a lot of money. If not, as the other guy said, don’t got for a flat. If you want to own, rather go for a (small) house, if you’re not depending on living close to your job, you can find somehing cheap-ish. Try https://www.immobilienscout24.de/