Baufinanzierer
2013-04-30 22:00:09
- #1
The idea of getting into "big ownership" through a condominium is already old, but not bad. Buying the apartment, using it yourself instead of renting, and then selling it again after a few years is rather critical. When buying, additional costs of about 10% including the broker occur. So if I sell the condo again after 10 years, I have to bear "extra costs" of 1% annually.
Currently, the markets are somewhat overheated, I do construction financing myself and today I often have problems with our in-house valuation department, which doesn’t quite keep up with this price increase in metropolitan areas. Whether this will last in the long term or balance out after 10 years...??? Inflation rate currently below 2%, difficult.
But I can also buy the condo today, live in it for as long as I want and then keep it if I go into the "right construction financing" and rent it out. Generally, the rental income should cover the financing, so it would be a break-even game. Important to know: for the bank’s credit assessment, only 75% of the cold rent counts as income. So it can quickly happen that the bank sees a certain loss in the rental, which the household budget has to cover again.
But it applies: concrete is gold AND a good bank advisor is needed. Make sure that they have some knowledge of the market and especially of rentals. Just let them talk and philosophize a bit and listen to your gut. Good luck.
Currently, the markets are somewhat overheated, I do construction financing myself and today I often have problems with our in-house valuation department, which doesn’t quite keep up with this price increase in metropolitan areas. Whether this will last in the long term or balance out after 10 years...??? Inflation rate currently below 2%, difficult.
But I can also buy the condo today, live in it for as long as I want and then keep it if I go into the "right construction financing" and rent it out. Generally, the rental income should cover the financing, so it would be a break-even game. Important to know: for the bank’s credit assessment, only 75% of the cold rent counts as income. So it can quickly happen that the bank sees a certain loss in the rental, which the household budget has to cover again.
But it applies: concrete is gold AND a good bank advisor is needed. Make sure that they have some knowledge of the market and especially of rentals. Just let them talk and philosophize a bit and listen to your gut. Good luck.