Are you thinking of buying a condominium for your own use or as an investment? Then there are a few basic rules to follow. Take a close look at the condominium owners' association (WEG) and meetings in advance. Because only if you familiarize yourself with the provisions of the WEG will you be spared a rude awakening after you move in. Right?
When you buy a condominium or terraced house, you also take over part of the entire property. You therefore become part of the community of owners (WEG). The WEG not only decides when it comes to the entire property. It also has a say in some changes to your apartment.
What am I allowed to do in my separate property?
Separate property includes the rooms in the apartment and the parts of the building that belong to these rooms. Within your own four walls, you are free to do as you please as long as this does not affect the common property or the neighbor's separate property. How you decorate your apartment from floor to ceiling is entirely up to you. With the exception of load-bearing walls, you may knock down walls and change the floor plan. However, it is advisable to inform your neighbors before the upcoming construction work.
What am I allowed to do in the common property?
Common property includes everything that is not explicitly designated as separate property. This includes, for example, the load-bearing parts of the building, the roof, the windows, the stairwell and green areas or underground parking. When it comes to the entire property, the WEG decides. This does not just mean renovation and refurbishment measures. Some condominiums also have a say in the design of the outside of your apartment door. The installation of a balcony power plant, a satellite dish or a charging station for your electric car is also usually subject to the decision-making power of the owners' committee. The majority must vote in favor of the respective change.
Declaration of division and community regulations
Before you sign the purchase agreement for the condominium, you should take a look at the declaration of division and community regulations. The declaration of division lists common and separate property. It also contains a partition plan showing the individual apartments and rooms. The community rules set out the rights and obligations of the owner vis-à-vis the administration, insofar as they differ from the requirements of the German Condominium Act. The voting rights and cost allocation rules are also documented there.
Would you like support in finding and purchasing a suitable condominium? Please contact us! We will be happy to advise you.
Note
The generic masculine is used in this text to improve readability. Female and other gender identities are explicitly included where this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.
