In the current real estate landscape, condominiums from the 1970s and 1980s are increasingly attracting buyers due to their comparatively lower prices and the decline in new construction activity. However, buyers of such apartments should not only consider the purchase price. The Association of Private Builders (VPB) advises checking the amount of the maintenance reserve. The reason for this...
Before deciding on a prefabricated garage, owners should find out whether planning permission is required. This is because while in some regions garages up to a certain size can be built without a permit, other countries require detailed building plans and specific distances from neighboring properties. This circumstance requires thorough...
Deutsche Bank and the European Investment Bank (EIB) have initiated a loan programme to support environmentally friendly housing construction and energy-efficient modernization in Germany. The program provides for the provision of low-interest loans with a total volume of over 600 million euros to private individuals. The corresponding construction projects and refurbishment measures must...
Unmarried couples purchasing property together do not enjoy the same legal protections as married couples. It is therefore crucial to take legal precautions to avoid unexpected difficulties. Bausparkasse Schwäbisch Hall points this out. It recommends dealing with three main issues in particular: entry in the land register, the legal security...
The European Central Bank (ECB) has lowered its key interest rate by 0.25 percentage points to 4.25 percent. This first interest rate cut since 2019 makes loans cheaper. This is particularly attractive for property buyers. Due to potentially lower loan costs, the interest rate cut can make buying property considerably easier. Particularly in an environment of rising property prices, this...
For many people, buying a home is a financial challenge, particularly because of the high equity requirements. For example, buying a property worth 400,000 euros requires 80,000 euros of equity. In order to help potential buyers, the state offers various subsidies that can be used to save up equity capital or to help with the...
Early detection and professional handling of construction defects is of great importance for private builders in order to protect their rights and prevent financial losses. The Verband Privater Bauherren (vpb) points this out, stating that building owners have the opportunity to inform those responsible about construction defects and officially document them with a notice of defects. A timely...
The actual selling prices of properties are currently lower than the asking prices. "The gap between the asking price and the transaction price shows that it pays to negotiate," says Dr. Gesa Crockford, Managing Director of ImmoScout24. An analysis by Sprengnetter and ImmoScout24 shows that prospective buyers of condominiums in particular have room for negotiation, from around 8...
A new potential for living space is emerging in densely populated cities: adding storeys to existing buildings. The portal "schoener-wohnen.de" points this out. A series of pictures shows how a 1950s apartment building in Germany was extended with two wooden cubes. Building owners benefit not only from a sustainable construction method, but also from a...
A ruling by the Federal Constitutional Court could lead to uncertainty with regard to home ownership subsidies. It has declared the Second Supplementary Budget Act 2021 null and void (2 BvF 1/22). The aim of the law was to make a credit authorization of 60 billion euros for the "Energy and Climate Fund", which was planned for 2021 but not used, available for future financial years.
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