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Wohnung (Payment (It is possible to decrease the total amount of interest…
Wohnung
Payment
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The greater this payment (Disagio) is, the less will be the interest costs in the long run.
The purchase or construction of housing for your own use can, under certain circumstances, be subsidized by the government in Germany. There may also be some tax advantages involved. Basically, the persons most likely to benefit from these subsidies are those of modest income with minor children who are buying or building moderately priced housing.
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TIPS
If you are buying an older property consider maintenance and renovation costs such as windows, electric wiring, plumbing etc. that may come up soon. Should you buy a property that is dependent on communal reserves to finance maintenance costs it is very important to check out what savings (Ruecklagen) are shown in the balance sheet (Jahresabrechnung) against upcoming or projected costs.
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There is also a large incentive in the form of a depreciation write down of 2% pa over 50 years on the purchase price of the physical property (not land) for properties built after 31st December 1924. Buildings built before this date are depreciated at 2.5% pa over 40 years.
Any profit from the sale of a residential investment unit is tax-free provided the property has been held for at least ten years.*
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Commision:
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In some cases the buyer pays the commission in full, in many others it's split between buyer and seller and in some instances agents receive their commission exclusively from the seller.
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The notary fee
The notary fee, of about 1.5 to 2 percent, covers preparation of the contract, negotiations, the signing ceremony and entry in the land register.
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Fragen ?
Iä\s possible to ask the current tenents to leave the property within a certain piriod of time in order to move into the flat,
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