Help with buying an apartment in Munich

Was overlooked by you that 100000 equity is available?


In brief, greetings

So the terms are familiar to me insofar as my parents have owned another apartment for the last 10 years and rented it out. However, this was now sold, hence the equity. The other condominium owned by my parents still exists, is also in Munich, and has 120 sqm, a good location, terrace, etc... so it could also be mortgaged. This one is occupied by them personally. We of course also inform ourselves about reserves, changes, plans, etc. with the help of the minutes of the owners' meeting and any other available documents. Since my parents themselves are owners, they have some knowledge and would also consult a professional. Basically, the main question right now is whether one should enter the real estate business currently or whether this consideration might backfire :)

I have a very clear answer to that: potato salad ;)

Munich is already very expensive when it comes to purchase price development for new buildings; 29 times....

And you can also see that in the last 5 years there has been a very nice increase; but whether this will continue for another 10 years or just move sideways again. Who knows

you are as naive as the tech guys in the 2000s

100k for an apartment in Munich is nothing. How much per sqm? 6000? How much credit is needed there? 600k for what in a good location?

The idea is and remains bad and countless people try to find the same nonexistent bargain. 29x annual gross income. My limit would be 12x... otherwise the stock market!