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Olympiana posted a topic in Life in GermanyHello, Your answers concerning this very important matter would be highly appreciated. We would like to buy for ourselves an apartment in a house (Zweifamilienhaus). The entire building consists of 6 apartments (3xZweifamilienhaus). This apartment is located at the first floor (Obergeschoss). The monthly costs (Hausgeld), the attic above, part of the garden and the washing room will be shared with the neighbors living below (former owner's family). There is oil central heating from 2000 for these two apartments. It also provides warm water. The building year is 1958. According to the Energieausweis (Bedarfsausweis): Baujahr laut Energieausweis :2000 Energieeffizienzklasse: H Energiebedarf : 289,90 kWh/(m²•a) I researched online and this controversial 'H' might trigger high heating-related costs. Still, the real estate agent says that the monthly costs (Hausgeld) including heating will be maximum 200 euros. He said that these costs will be written in the contract and that the heating system has been checked on a yearly basis. A monthly Rücklage (max 50 e) will be added for potential future exterior building work. I haven't seen myself the Energieausweis or other papers yet. The apartment needs renovation - painting and flooring. No water damage or mold (not visible at least), bathroom ok, good double-glazed windows, dry storage room in the cellar. Not sure how to find out if the electrical system and the plumbing is really ok and won't need massive changes soon. The location is excellent and the price is good for the area. How important is this energy efficiency class? Could there be something hidden/money-draining here? Thank you very much for your time!
I never bought property before and now that i have some cash at hand i was contemplating buying a flat in Berlin, for investment. I wanted to buy a small flat, 1 or two rooms and rent it out. The initial thought was - i will own property AND will make revenue at the same time. cool! Started looking at mortgages, small flats, Hausgelt, Taxes - and adding up numbers I realized - the income is sooooo low!! i cannot now remember the exact numbers, but if i buy a flat let's say for 200.000 euros and then the actual income from it after taxes is 3.000 euro a year, or even if it is 4.000 a year - what is the point? In other words: One invests a huge amount of money in a flat they do not live in, paying all the fees involved, (State Taxes, Notary, Makler) taking risks with the property itself, hoping there are no roofs in need to be replaced or surprise elevators to be built, Then all the administration and time involved with tenants - all this for 300 or 400 euros profit a month? So my question to any of you who bought a flat and rented it out - WHY do you do it?