Buying a home can be worthwhile in order to avoid having to take on one rent increase after another in the future. But not every time is the right time to buy a house. Therefore, if you want to buy a condominium or a house, it is advisable that certain points be met before the purchase is made . Above all, the following prerequisites are important:
- A fixed employment contract for one full-time employment of at least one of the two borrowers. Of course, even better is a permanent employment relationship between both borrowers in a full-time job.
- Two borrowers in the loan agreement, which often improves the credit rating.
- A good percentage of equity, this can be 30%, in the best case even 50% .
- In-house services should be thoroughly thought out and planned.
- For the construction costs, which account for at least 10% of the financing amount, and in addition to the actual purchase price, the capital should already exist.
- What is the current development of interest rates? Is it worthwhile to conclude a long fixed-interest period in order to extend later interest rate increases as long as possible, or is it advisable to conclude mortgage lending that does not require any follow-up financing? This should be considered especially with interest rates soon rising.
- It is also important to think about applying for subsidies for buying a home or buying an apartment. Here can be saved in financing a lot of money.
If all these conditions are met and the income is high enough, it may be considered to buy a house.
What type of property do you want to buy?
Every person has different housing needs. This also applies to the place, and the place where someone wants to live. Therefore, an important question at the right time to buy your own property is also what kind of property to buy at all?
Do you want to have a family home that is a little further away from other houses? Or would you prefer a terraced house, which is often a bit cheaper than a detached house? Maybe you also prefer to live in a central location, so the question of having your own house is not up for debate. Then consider a condominium that offers you its own space, yet still gives you the opportunity to live in the middle of the city.
All these questions are important on the way to your own property. An apartment in the city can be as expensive as a house in the countryside.
City or Country – Where do you want to live?
Real estate prices have increased dramatically in recent years. Housing prices for privately used apartments and houses have not only increased in the metropolitan areas. Even in the surrounding area, prices continue to rise. Nevertheless, buying a house or buying an apartment can still be worthwhile. Because, with rising real estate prices, rents have risen dramatically. Although the purchase of a house or apartment may no longer be worthwhile everywhere. But anyone who looks around thoroughly, thinks through the purchase as well as the financing thoroughly and plans well, can still make a good purchase even in times of rising real estate prices.
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