Search the Community
Showing results for tags 'buying property'.
Found 2 results
Hello Guys Help me here on a real estate question. |I live in Freising in a city center 136 m2 rental house, with warm rent approx. 1700. Its a slightly old house but very nice in terms of location and space. Looking at the real estate prices. I zeroed down to a new apartment of 86 m2, costing 628000 EUR (exclusing Notar, etc.). I am really interested in buying this apartment as real state prices are rising up pretty quickly. But I dont want to move in this apartment myself and want to put it on rent. I am looking at 100% bank loan. My thinking is, I will get some rental income out of this apartment and will put some money from my pocket to pay the loan EMIs. I also know that, since, I will not live in the apartment, I can only sell the apartment after 10 years to exempt from Capital gain tax. I would like to hold his apartment for 10 years and then sell it. I believe, the apartment price may be double in 10 years and I can earn some money here. I know its a lot of hassle to rent an apartment, finding good tenants, paying tax on rental income, maintaining apartment and then reselling it? I believe, I need to pay 20% to 40% tax on rental income? Whats are the pros and cons of doing this? Please advise. Thanks, Sanjay
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!