What do I need to know when buying property in Germany?
When we asked expats what advice they would give a foreigner before buying a property in Germany, they said...
"1. Make sure you have a basic understanding of German law and regulations related to the real estate market. 2. Obtain legal advice from an experienced lawyer in Germany who is familiar with real estate transactions. 3. Consider the location and nature of the property; considering the environment, accessibility and current value of the property. 4. It may be necessary to provide a down payment (Kaution) of up to three months’ rent when leasing a property in Germany. 5. Make sure that you review the terms and conditions of your German contract (Mietvertrag) carefully before signing. 6. Be aware of the cost of taxes and other fees associated with purchasing property in Germany. 7. Research mortgage options, as German mortgages are different from those in many other countries. 8. Ensure that you the complete the necessary steps for acquiring the required permits to construct any additional amenities you may require for the property," remarked another expat in Germany.
Other Questions:
- What do I need to know before moving to Germany?
- How do I find a place to live in Germany?
- What is a typical expat home or apartment like in Germany?
- What is the average cost of housing in Germany?
- Should I buy or rent a home in Germany?
- What should I pack when moving to Germany?
- What cultural faux pas should I try to avoid making in Germany?
- Why do people move to Germany?
- What are healthcare services like in Germany?
- What are medical services in Germany like?
- What are typical rents in Germany?
- What appliances are typically included in a rental?
What do I need to know when buying property in Germany?
If you live in Germany, newcomers to Germany would love to hear your answer to this question:
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
