Buying a house in the Bremen area

Hi there,

Just after some advice really. We are seriously looking at buying a house in the Bremen area and would appreciate any advice, contacts you may have.

Also what is the deal with reserving a property?

Had had a look at all the threads I can find but some more local info might help as well.

Cheers,

Wys...

why no reply to this message?

we are also planing to buy flat in bremen(built 1950).

Is it worthwhile to invest money in such a old flat in bremen.

will there be any resale for such a flat?

advices,answers welcome

Germany is (on average) a basket-case in this regard. In real terms, property prices here have been on a steady decline for more than 2 decades and there is no reason to suppose this will change in the next 2 decades. Do not buy in Germany if your goal is making a profit.

thank u for that super schnell antwort

but may be we can save the rent which we pay for the time we stay here . but the big question is
when we resale it , if the prices are down , then buying house doesnt make sense really

this is my dilemma

regards

For a given house/flat the rental costs are typically close to mortgage costs at the moment. If you are buying though, you have to calculate extra purchase costs (taxes and the like) plus costs for ongoing maintenance, so buying usually works out costing more money per month. If you sell within 5 years of buying (if I remember correctly) you'll end up paying a specualtion tax on any profit from the sale. If renting, and assuming that you invest any money you would have spent on maintaining your property should you have bought it to get some capital growth, then the end outcome is probably not going to be any different when comparing renting to buying. Actually, it may well be more profitable to rent+invest rather than buy.

I think you will find the speculation tax applies to anyone that sells within two years of buying a property the rate can be as much as 40% of the profit that you make from the sale.

If you are planning to stay for some time, I would say BUY !
Look for "Zwangsversteigerung" in the area,there are tricks to buying this way,but you can get a real good bargain.
Also a good start for a "do erupperer", save all the bills,receipts from the baumarkt etc,so if you decide to sell,this would be deducted from any speculation tax.
It always amazes me that people will pay rents for the same price as they can buy."Oh, if a repair is needed I just call the landlord...."
My friend has just bought a house(rural), it will pay for itself in 3 years, thats including grundsteuer,insurance ,shornsteinfeger etc etc.
I am now the owner of 2 houses,for the price that would not buy a garage or mobile home in UK.
Msg me for any help/advice.
Cheers

Good evening to you all i agree with Sailorashore i own 3 houses an apartment and a small lager i have also bought houses in the past to renovate and sell on apart from the tax implications it is still worth doing if you do your book work keep all the bills the out come is not so bad i also cannot come to terms with paying rent when you can own the property for me renting is like throwing money out of the window as regards to property prices in Germany i would say they are realistic they compute with what people earn not like the mickey mouse prices that are on offer in the UK i had a look at the prices last night on the right move web site for suffolk i just do not know how they can charge for a sub standardly built rabbit hutch £200.000. The powers to be will never learn i just want someone to explain to me how an economy can revolve around a house market or try to, it clearly is not working and in my opionion plain daft