No, every era has or had its challenges. Knowing all the factors that make a sale easier and more secure is still helpful today.
Finally moving into your own home – here's how you can make it happen
Max and Anna K. have made one of the most important financial decisions of their lives: the couple has purchased an old house to live in. They have turned one of the house's disadvantages into an advantage: The house, which was built in the 1970s, was in dire need of energy-efficient renovation, but because they sought advice from a real estate professional, they were able to reduce the asking price by 20 percent. They also took the following steps to ensure that the house purchase went smoothly.
Financial planning and budgeting
Max and Anna drew up a detailed financial plan and calculated not only the purchase price but also additional costs such as taxes, notary fees, and renovations. A financial advisor helped them realistically estimate what they could afford and which financing options were right for them.
Market knowledge and property selection
Max and Anna also took a close look at current market conditions and sought advice from an experienced market expert to find a fair offer. The expert accompanied them on viewings and helped them ask the right questions and identify the best offers.
Legal aspects and contract review
Real estate purchases involve many legal hurdles. Max and Anna had to ensure that all contracts and documents were legally sound. Here, too, their real estate agent helped them clarify legal aspects and ensure that there were no hidden pitfalls in the contract.
Location and surroundings
The location of a property is also crucial and should fit in with your life plan and be compatible with your job. Max and Anna carefully weighed up the pros and cons of different regions, both urban and rural. They made a list of their priorities, such as proximity to schools, workplaces, and recreational opportunities, and visited the neighborhoods at different times of the day to get a realistic impression.
Condition of the property and renovation costs
Many properties looked perfect at first glance but had hidden defects. Max and Anna had to have the condition of the houses thoroughly checked. Their real estate professional was able to help them with this as well. He also recommended a renovation expert who provided a realistic estimate of the costs and advised them on government subsidies.
Negotiation and closing
As already mentioned, their real estate professional helped them negotiate a fair market price and complete the purchase process smoothly. They successfully mastered the legal and financial challenges with the support of their agent and advisors. After months of intensive searching, planning, and negotiations, Max and Anna finally bought the property that they are now turning into their dream home.
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Note
For reasons of better 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 consult a lawyer and/or tax advisor to clarify the facts of your specific case.
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