Despite inflation and higher interest rates, buying a property is still possible. However,
property seekers must adapt to the new situation on the real estate market .The question of financing isparticularly important now. Those who are well prepared here have a better chance of finding a
suitable property. With our checklist, you always have an overview of what youneed tothink about
.
Property seekers are best advised to clarify the financing before starting their search. Otherwise, the dream of
owning your own home can quickly come to nothing. The following should be taken into account in preparation.
Important questions before searching for real estate
- How much property can I afford? Or how much can I pay per month for a
property? Also think about ancillary costs such as taxes, insurance,
heating and electricity. - Should I build a house or buy an existing property?
- What financing options are available?
- How much equity do I need?
- Are there any state funding opportunities?
- How do I determine the financing requirement?
What documents do I need for the property?
- New building
- Architect's contract or the design
- Current extract from the land register
- Parcel map
- Property purchase agreement or draft
- Extract from the register of building encumbrances
- Applicable development plan of the municipality/district
- Approved building application
- Building description
- Approved construction plans/construction drawing
- Gross floor area calculation
- Calculation of living and usable space
- Proof of building shell insurance
- Construction cost calculation (including documents on development costs and
information on planned own work) - Estimate of future incidental housing costs
- Existing property
- Copy of the purchase contract or draft
- Current extract from the land register
- Parcel map
- Exposé of the property
- If available: Building plans and building description
- Calculation of living and usable space
- Extract from the register of building encumbrances
- Appraisal, if applicable
- Cost plan for modernization measures, if applicable (including
cost estimates) - Meaningful photos of the property
- Estimate of future incidental housing costs
- Copy of the building insurance
- Declaration of division (when purchasing a condominium)
What documents do banks want to see from me?
-
- Salary/wage statement for the last three months
- Proof of the previous year's income
- Income statement previous year
- Income tax return, if applicable
- Proof of own funds (e.g. bank statements)
- Signed annual financial statements / income statement for the last two years
(for self-employed persons) - Signed current business report (for self-employed persons)
- Income tax assessments for the last two years (for self-employed persons)
- Schufa information
- Identity card
Are you unsure whether or how much property you can afford and where you can find an affordable
? Get in touch with us! We will be happy to advise and support you in your search and financing.
Notes
The generic masculine is used in this text for reasons of readability.
Female and other gender identities are explicitly included where
necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please
have the facts of your specific individual case clarified by a lawyer and/or
tax advisor.
