Buying an apartment in Munich

I would like to buy an apartment in Munich and move my family members to a bigger apartment for the same price. What I should know before I buy apartment.

There's tons of posts on buying a place. Do a search.

If you're a first-time buyer and used to the UK property market, you should take a close look at the extra costs of buying. There are all kinds of charges which are a percentage of the purchase price, and they can add around 8% of the purchase price to the total. This means you may have to wait an awful long time before the value of your property reachs the amount you paid for it.

What do you want to do? Buy a flat (rent it out) and for the rent , find a flat for your family?

I would like to rent it to my family member who is paying 590 Euro monthly for a one bedroom. However, I don't know about some regulations like taxes, hausgeld, provision, etc. I was living in Munich eight years ago, but some things are different, now. Eventually, I would like to move back, one day.

Don't buy an apartment is what you should know. Buy a row house or double house with more room and a yard instead for less money.

How big? To pay around 590 Euro a month on interest (on a purchase) means a very small place (depending on the down)?