
Mistakes when buying real estate
There are many reasons why new owners feel that their purchase was a mistake. In the worst case, they may have to move again. We therefore recommend seeking advice from a local real estate agent before buying. This allows prospective buyers to benefit from the agent's local market knowledge.
Scenario 1: When the property does not meet expectations
This scenario can be avoided by not rushing into a purchase decision. It is also advisable to consider more than one property. Those who come from further away and do not have enough time to properly view the property should not be surprised if they regret the purchase afterwards.
Scenario 2: No money for renovation and other costs – incorrect financing
Proper budget planning before the purchase is essential. This should not only take into account any renovation work and other construction measures, but also a monthly installment that does not put too much strain on your wallet.
Scenario 3: More defects than previously known
It is always important to compare several providers and seek the opinion of a construction expert. They can give you a good estimate of the renovation and modernization costs before you buy. A real estate agent can help you with your search.
Scenario 4: Noisy neighbors/unpleasant surroundings
Before buying, you should visit the property at different times of the day to get a good idea of the daily noise level and other factors. It is also helpful to get an impression of the neighbors.
Scenario 5: Development plan and building restrictions
Shortly after moving in, the beautiful view is blocked by a new building. Or the property may only be built on to a limited extent or not at all. This scenario can be avoided by taking a look at the municipal development plan.
Do you have questions about buying or selling a property? Or would you like advice on other matters? Contact us! We will be happy to help you.
Notes
For reasons of readability, the generic masculine form is used in this text. Female and other gender identities are expressly included insofar as this is 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 case clarified by a lawyer and/or tax advisor.
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