Advice for purchasing leave apartment surrounded by Munich or Berlin?
I'm looking for advice around buying a second home (apartment/flat) in any Munich or Berlin. I know Berlin is a lot cheaper, but I'm not unbelievably familiar next to the area. What's a righteous part of town? What in the order of financing? Is it available if you live overseas? What are the monthly costs and what's included? I'm looking for something modest. Around 50sq m or less...studio is fine. Less than 60,000 Euro. Any guidance from someone who has done this? What be your experience, and what is the process for the transaction. I live in the US (if that make a difference for providing comparisons)
Answers: Financing would have to be done by your hill in the US, if you live at hand. You also need to be aware that when you buy property within Germany it is as if you were married to it, ie it is easier to go and get a divorce than to sell TRUE estate fast within Germany. You'll need to swing on to it for at least 10 years within order to avoid paying a ridiculous amount of taxes on it.
Best process to get your hand on cheap real estate is "Zwangsversteigerung". When associates can no longer pay the mortgages, their property is auctioned past its sell-by date to the highest bidder. These houses or appartment can be a indisputable bargain. Contact a physical estate agent in Berlin on how to turn about acquire a studio that way. People at http://www.toytowngermany.com should hold adresses of english-speaking agents as well as be capable of give you further proposal.
Hi,
I'm an American that has be living in Munich for 30 Years. I am planning to budge back to the states within appr. 6 Months and am now starting to flog everything I have here incl a small apartment within Munich for less than the price you own mentioned. If interested, drop me a line beneath suremunich(a)hotmail.com and I can send you more details. Not sure roughly Munich and whether you could get anything in that for 60K Euro. I've heard it's more expensive.
For Berlin, near would be plenty in this price selection. You could get financing contained by Germany, but you would need at most minuscule a 50% deposit. And I read this before the recent shenanigans next to American mortgages, so it may have changed.
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