Buying an apartment in Berlin - what you need to consider
Owning an apartment in Berlin is a dream many wish to fulfil. Big cities like Berlin in particular are seeing a large influx of new inhabitants, and thus also great demand for apartments. But anyone who rushes into buying a private apartment may soon come to regret their decision. This is why potential buyers should be aware of a few things when purchasing their dream apartment.Owner, this way please
What do you need to be aware of when buying an apartment in Berlin?
Berlin is diverse in terms of the apartment types to be found here. From modern lofts to charming historic tenement apartments, Germany’s capital city has something for everyone. This is why it is particularly important to know from the outset where and how you want to live.
How much living space do you need? Do you wish to live closer to the city centre? Do you need a wheelchair-accessible apartment and good transport connections? You should find answers to these and many other questions sooner rather than later. We recommend drawing up a checklist.
The individual lifestyle and flair of the different districts are also important selection criteria. Those who like to frequent bars, restaurants and clubs are less likely to enjoy living in Berlin’s outer suburbs. Those who prefer living quietly and close to nature are more likely to seek their new home outside the ‘Berliner Ring’, i.e. the orbital Bundesautobahn 10 motorway. The best thing to do is gain a first-hand impression.
Once you find a suitable apartment, the next step is a viewing. You might encounter hidden financial challenges, especially when it comes to historic tenement apartments requiring renovation. With new-build projects, potential buyers can request information from the developer as to the building’s condition and any work planned for the future. Here at ADEN Immobilien, we know what to look for in terms of the location and condition of private apartments. We will be happy to review the prospective apartments with you and advise you.
Where can you still find affordable apartments in Berlin?
Along with considering the local conditions, you must also take account of developments on Berlin’s property market. At first glance, it may seem that the lightning-fast price increases seen across the board in recent years have slowed down somewhat. However, the individual developments in residential-property prices in the capital city differ according to the respective district.
Especially when it comes to price, you should consider carefully which district you want to live in. This is because apartments in popular locations such as Berlin-Mitte and Prenzlauer Berg are generally expensive. Private apartments in Zehlendorf also tend to cost more than ones in Berlin-Marzahn. Given the complexity of the current market situation in Berlin, it isn’t easy to gain an overview.
You are therefore well-advised to seek the help of a professional property expert such as ADEN Immobilien. We are happy to advise you on Berlin’s housing market.
Ownership obligates! The advantage of a condominium.
What are the advantages of buying a condominium?
The advantages of buying an apartment instead of a house are obvious. First of all, apartments are cheaper. And not only in terms of purchase price. For example, if the heating system in the building needs replacing, you don’t have to cover the cost all by yourself but share it with the entire co-owners. The same is true for other works, such as renovating the stairwell or the facade.
Do you wish to find out more about the financial and other advantages of a private apartment? Then the team at ADEN Immobilien will be happy to provide you with additional information.
How to buy an apartment in Berlin?
Once you have decided to buy an apartment, the price needs to be negotiated with the seller and the purchase agreement drawn up. The latter task falls to whichever notary you commission. The purchase agreement for the apartment must include the following aspects:
- Purchase price for the apartment
- Payment methods
- Date of transfer of ownership
- Optional: transfer of encumbrances and benefits
- Rights of the buyer
- Any defects
Alongside these aspects, the buyer and seller can negotiate individual agreements and formalise them in writing. The notary reads out and explains the purchase agreement once all parties have had the chance to review it. As soon as the document has been signed, the notary will take care of the entry in the Land Register. Initially, there will be a notarised notice of conveyance, so that the buyer’s rights are safeguarded until the final entry in the Land Register.
If you wish to conclude the transaction in a legally compliant manner, the apartment purchase should be supported by a professional estate agent such as ADEN Immobilien. This saves you time and effort.
Buying an apartment is generally cheaper than buying a house. Nevertheless, the purchase price is still very high, particularly in Berlin. In the event of a wrong decision or any uncertainty, you can also face financial and legal challenges. It is therefore advisable to seek the support of a property expert when buying an apartment. If you wish to buy an apartment in Berlin, ADEN Immobilien will be happy to advise and help you.
Do you own a property in Berlin and want to sell it? Please get in touch with us to initiate the sales process. From the initial valuation and drawing up the advert, through to completion, we will be happy to advise and assist you. Contact us, we will be happy to advise you!
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