Study community order and house rules

Study community order and house rules

Exactly and consider whether you can and want to live with items such as staircase cleaning, regular gardening or fixed rest periods. Just as important as the personal ones are the financial aspects of finding a condominium.  In this regard a search in will per perfect.

Enquire about:

  • The financial circumstances of the owner community
  • The additional monthly charges for insurance, taxes, etc.
  • The amount of any apportionment for maintenance reserves
  • Planned or recently completed renovation work
  • Possibly resulting in a special charge for maintenance and modernization work

Information about all these factors is best obtained from the homeowner community administrator or from your real estate agent. He can give you all the important documents and explanations and is usually available for any questions.

Good to know: The administrator should make you as good a potential buyer as possible, as he has some sort of veto right when selling apartments within his own ownership company. The so-called administrator approval is legally enshrined in the Housing Property Act and is documented in the declaration of division. If the administrator has reasonable doubts that you fit in financially and personally in the existing community, he can reject the sale.

Buying an apartment as an investment or self-employment

Depending on whether you are looking a condo for yourself or for an apartment to rent looking for, you should have some additional note aspects.

Buying a home as an investment or retirement

If you want to earn rent with your new home, or if you want to sell the home at a profit, then location, region, infrastructure, and energy efficiency are crucial data. You must of course like the object of purchase, but consider whether buying a property in another region with a better return is also an option and exclude your personal factors from the property search.


Unforeseen developments such as upgrading a neighboring residential area, closing a large company or tapping new building land are risks that you can expect at any time. Even losses by careless tenants are not isolated cases. Basically, when you buy an investment, you should be able to continue to finance the apartment for several months without rental income without any major problems.

Buying an apartment as a home

Before you decide to buy the model instead of renting, you should be sure that the apartment and its environment to suit you and your needs. And not just in the next two years, but in the best case for at least the next 10. The purchase costs such as broker’s commission, notary and registry fees and land transfer should have been profitable over the period of use.

Finance your apartment – That’s how it works

The housing finance must be thoroughly calculated because after all, it is in most cases a significant loan amount. The expert explains the most important steps on the way to the optimal home loan.

Cash fall

To know which price segment you are considering, you first need to know the monthly income available for the loan installments. Our household calculator is good to help. On the other hand, you should list how much equity you have available. This does not include the balance on your current account or savings account, but also other assets such as a home savings contract.

Determine budget

As soon as you know the equity and the monthly allowance for the real estate loan, you can use our budget calculator to determine how expensive the apartment may be. Keep in mind that this budget also has to cover the purchase costs.

Barbara Steudeman