Planar
2017-09-13 13:05:44
- #1
We, my partner and I, have been wondering for a long time – from when does it make sense to buy a condominium that you want to rent out?
Everywhere you only read the word “investment.” So, from when does such an investment pay off? Currently, real estate prices in the Rhine-Main area range between 4500-6500 euros/sqm for a new building apartment. We recently received an offer to purchase a 2-room, 74sqm, condo (kitchen, bathroom, floors included) for 350,000 euros (including underground parking space). The apartment is 3 years old and is located in a newly built district in Frankfurt, and the infrastructure and surroundings are perfect.
At this point, we would like to know:
Thank you in advance for the answers
Everywhere you only read the word “investment.” So, from when does such an investment pay off? Currently, real estate prices in the Rhine-Main area range between 4500-6500 euros/sqm for a new building apartment. We recently received an offer to purchase a 2-room, 74sqm, condo (kitchen, bathroom, floors included) for 350,000 euros (including underground parking space). The apartment is 3 years old and is located in a newly built district in Frankfurt, and the infrastructure and surroundings are perfect.
At this point, we would like to know:
[*]How much equity is needed for this project?
[*]Who determines the rent price for the future tenant?
[*]What costs would we have to expect as buyers monthly/annually?
[*]What risk would there be in the event of an interest rate increase or other unforeseen costs that might rise?
[*]How long would it take to pay off the debt with the amounts mentioned above and equity of 40,000 euros?
Thank you in advance for the answers