HOW TO BUY REAL ESTATE IN GERMANY AS A FOREIGNER IN 2022 | 5-STEP PROCESS + MY TOP TIPS
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- čas přidán 22. 05. 2024
- All the tips you need when investing in German property this year! You can analyze the best property deals in Germany on Lendlord: www.lendlord.io/dealanalyzer-de
We’ve taken all our previous learnings and mistakes and rocked the process of buying an investment property in Germany this time around! TIPS MENTIONED IN THE VIDEO:
Property Searches:
eBay Kleinanzeigen: www.ebay-kleinanzeigen.de/
ImmoScout: www.immobilienscout24.de/
Zwangsversteigerung: www.zvg-portal.de/
Find out the worth of the land:
www.bodenrichtwerte-boris.de/
Compare Mortgages: www.loanlink24.com/
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Where to Find Furnished Apartments in Germany:
🏠 bit.ly/housinganywhere-germany
🏠 bit.ly/wunderflats-germany
🏠 bit.ly/homelike-germany
Follow me on Instagram for more: / lifeingermany_ and / lifeindus
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MOVING TO GERMANY? Get your FREE step-by-step checklist here ➡️ lifeingermany.com/checklist/
AND JOIN US IN THE [Life in Germany Welcome Program] ➡️ www.lifeingermany.com
QUESTIONS? hello@lifeingermany.com
#expats #germany #lifeingermany #expatsingermany #expattips
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MY TIPS FOR LIVING IN GERMANY ✅
💵 My Bank: bit.ly/3JczUH7
📱My Phone Plan: bit.ly/3ykBSPr
💡My Electricity Plan: bit.ly/3J5idcp
🏠My Liability & Contents Insurance: bit.ly/42Plnsr
🏥 My Health Insurance: bit.ly/306x1jZ
📚How I Learn German: bit.ly/3XtuwmL
DISCLAIMER: Links included in my descriptions are sometimes affiliate links. If you purchase a product or service with the links that I provide, I may receive a small commission - which helps me continue to build the platform & community. There is no additional charge to you!
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00:00 - Video begins
00:15 - Intro chats & market overview
01:17 - 5-Steps to buying a property
01:39 - Finding a SMART property investment
03:34 - Financing options
04:43 - Lendlord - Plug & plan dashboard for real estate
11:35 - How to contact the seller
13:26 - Property handover
14:05 - Fees Involved
14:54 - What I learned - top tips
16:20 - Outro chats
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ABOUT ME
Hey there, I’m Jenna! A Canadian who has been living in Germany since 2014 and blogging/vlogging about it ever since. 🇩🇪
Like many, I had a difficult time relocating - all the paperwork, making sure I wasn’t getting scammed, finding a flat, a phone plan, a job etc. So, I took it slowly, documented all my learnings along the way and partnered up with expats in every field to help others avoid making the same mistakes I did.
Let’s look at it as… PAVING THE WAY FOR NEW EXPATS TO SAVE TIME & MONEY! I built up www.lifeinduesseldorf.com to help ALL expats living in Düsseldorf make the best out of their lives, and then soon realized a lot of the content I was sharing was helpful for all expats living in Germany.
So I built an entire online program that helps expats from ALL OVER THE WORLD relocate to Germany easily - while also helping them save thousands of euros!
... and now I’m bringing it all to CZcams! ♥️
DISCLAIMER: Links included in my descriptions are sometimes affiliate links. If you purchase a product or service with the links that I provide, I may receive a small commission - which helps me continue to build the platform & community. There is no additional charge to you!
Analyze the best property deals in Germany on Lendlord: www.lendlord.io/dealanalyzer-de
Looks like they nolonger support German properties?
Everytime you drop a video it’s always a blast..powerful,thorough and Clean keep It up
There’s so much dignity and respect to be an independent woman.I spent my 20s working and investing. Now I’m 31 and I have about 10 streams of income . Supporting my husband and kids and buying anything I want without asking anyone for moneys. Not gives greater joy than that. lots of women need to get to work no matter your husband’s or partner’s financial status
@@ellievon6479
I’m really inspired.Been doing some 9 to 5 jobs but really looking into investing for a long time now. Can you share how you started your investment, type of investments and how you are earning from it
Zwangsversteigerung translates into something like "compulsory auction". The background always is a court decision that some property has to be put on auction as the owner is broke. The whereabouts of such an auction can be found under the public announcements in local papers or in showcases at the town hall, community centre or any other public building. There is a fair chance that ylu can make a bargain.
This is so informative. Thank you.
You’re very welcome! 🥰🥰
Jenna, danke schön ! Super tip top tips! 👍😘
Gerne! 🥰🤩
It’s been a passion for my husband and I for the last 5 years! I’m so happy to finally be sharing my experiences and lessons learned!
Wow Jenna this video is AMAZINGLY USEFUL! My German husband didnt know half of these things!! We were considering buying a rental property and we would be none the wiser that if we sold it we would lose 50%! Very very interesting. Could you make a video (or even get a sponsorship 😜) about investments? I want to use an Automatic ETF but all the ones I know aren’t dealing in Germany. Thank you for your amazing work!!!
THIS IS EXACTLY WHAT I WAS HOPING FOR! 🥰 All of these tips were things we didn’t know about even after our first house purchase! I’m so so so happy that you learned a few things from it. 🤗
Haha I’ll have to ask my husband to do a video about investments! It’s his passion project at the moment and knows a thousand times more than me! 🤩 I’ll have to convince him… 😏
This is a good topic. My husband is German, so we didn't have to pay a down payment when we purchased our home last year. The process for purchasing a house is quite laborious here in Germany. One thing to note is that buyers who are not fluent in German will have to hire a translator for the two minimum notary meetings. We went with a freelance mortgage broker who found us the best deal on our mortgage. Also, if a buyer purchases a home in a village, there may be a fee charged by the village as well as the city the village is attached to for transfer of the property to the new owner. Buying a home here is an experience and requires a lot of time and patience. The fees also never seem to end.
Normally a buyer of German nationality has to have a certain percentage of the price on his bank account before a bank will give you a mortgage.
@@claudiakarl7888 I think it all depends on how much “collateral” one has. So, you’re right! How much they already have in the bank… if they have other houses, or perhaps even a family member with that bank who can provide the backup support if needed
@@claudiakarl7888, we may have just gotten lucky. My husband owned a home here in Germany prior to moving to the US many years ago, and he wasn't required to have collateral for that home purchase either. Perhaps the income to mortgage ratio is a factor.
@@myvillagelifeintheupperhar607 To my knowledge it depends on the risk the bank sees. Usually they will lend you up to 70% of their estimation of the value to good conditions. If you need more, their risk of you defaulting grows and they expect you pay for this higher risk. On the other hand, if you have other securities (other buildings, gold, fortune at the bank, etc.) they may charge you less. Your income is less important because there is no guarantee that your income will stay high for the coming years (accident, illness, divorce, children etc). And with the Eintrag of a "Grundschuld" they make sure they will not Loos money.
@@claudiakarl7888 The issue is that a bank will not mortgage your future property beyond 80% of its perceived value. So you have to come up with that 20% from other resources. That is done in case you default on the mortgage payments and the house is put on the block. Then there is a risk to the bank that the mortgaged value cannot be realized. So the 20% serves as a safety measure.
If one has already other property one can mortgage that and come up with the needed money.
The bank needs to have a assets which serve as security so there is no total loss.
I am a retired USA Citizen, I do not have a German residence permit to stay in the country. Every year I visit the country and stay 3 months only. Would the law allow me to buy a house in Germany not having the residence permit. I understand that without a residence permit I would not be able to get the financing here in Germany. But I could use cash or finance the house with an American financial institution.
Simplified calculation about mortgages: Let us say you borrow money for 5% per annum and you want to fix your repayment at 3% per annum. You need 200,000€. In real life you pay monthly installments, in the simplified version you only pay one installment per year. 3% of 200,000 come up to 6000, and 5% of 200,000 are 10,000. That means that the sum that the bank gets from you are 13,000 per annum and that will not change. So you roughly pay 1100 per month.
After the first year the amount that you own to the bank has dropped to 197,000. The interest on that has shrunk from 10,000 to 9,850. As you still pay them 13000 in the second year the amount that goes into repayment has risen from 3000 to 3150. And that equation goes on and on. Multiply the amount that you still own them by 1.05, then substract 13,000 and you will see what your debts are for the oncoming year. When you do this calculation take down how often you did it to see how many years are necessary to repay all the money. So when you put 3% repayment into the contract it is not 33 years that you need to pay it all back. Progressively the proportion between interest and repayment will slide over to your favour. But it may well be that in this case it is something like 20 years. That means that you pay back to the bank something like 260000. Banks are not allowed to ruin you. That means they have a computer programme that is fed with your monthly income and your monthly expenses. And then they have a strict rule about how much money a family needs to eat, drink and spend for clothings and so on. That calculation cleary says how much that repayment sum can be as a maximum. You will not get any credit at all when there is no money left even when you swear that you will go naked and live on the most basic foods.
so good!
Thaaank you! 🥰♥️
Hi Jenna, thanks so much for the awesome video! I have an absolute newbie question regarding the document to show when you make contact, to show that you can afford the property. Is this a statement from your bank? Or from the bank you would sign a mortgage with? And, how do you do this to not shoot yourself in the foot? Meaning being technically able to spend more than what you are willing to spend. Any advice would be welcome!
I always find your topics very helpful
I am new in Germany and my husband and I are thinking of buying a real estate to invest
Thank you 🙏🏼
I’m so glad 🥰🤗 thanks for the support!!
Thanks a lot Jenna 🤗 It’s true what you said..these underground Money makes the difference..I’ve noticed my self and that’s the case..but as you said one should always be persistent until it’s achieved 👌🙋🏻♀️Liebe Grüße von Taunusstein ☀️🍀🤗🤗
I am a new visitor to your channel. Love it!
How is your pronunciation of German words so accurate? 😮
Thanks so much for joining! 🥰🤩
Hahaha and for the compliment!
My German isn’t perfect, but some of my pronunciation comes from being surrounded by my husbands German family and especially having them constantly talk about German real estate at the dinner table 😂😂
Thanks
nice video, how did you get this magazine with list of auctions?
Hello Jenna, Thanks for this nice video. Can you please tell me what kind of residence permit do a foreigner needs to buy a rental property? Does it have to be Niederlassungserlaubnis?
Okay
Thanks for the great tips, I'm on the dilemma to buy a property between Spain and Germany and as you are aware with petty much the same amount of investment you get almost double or triple size of a property in pain as oppose to Germany. Would be appreciated if you elaborate your thoughts on that.
I’m actually in the same process! Although what’s holding me back is that in Spain, there’s a lot of legal rights the Spanish have and the foreigners do not. For example, if you’re renting to a person of Spanish decent, it can be impossible to kick them out. I’m just in the beginning learning phases… but by the sounds of it, everything is done a lot more “official” in Germany than it is in Spain
Hi there! I have another question- what people would you recommend getting involved with to help in this process? Eg, mortgage broker, accountant, financial advisor, lawyer?
Would love to know your thoughts as I would like to be as informed as possible when we purchase our place! Thank you so much and thanks for the great video!!
Great questions! It all depends on how much support you feel you need. I would say first and foremost, having a mortgage broker that speaks your language is a HUGE help in the initial stages. LoanLink is a good option (bit.ly/loanlink-24) for English speakers, they also have a German branch called Baufi24!
A financial advisor is a good option if you’re looking at doing this as a long term investment (vs. finding your forever home and not worried about the longer term gain). If you’d like a good recommendation, I can send you the contact details of mine 🙂 they’re a really lovely duo that speak perfect English and German!
The lawyer may come in helpful when you want to go through the purchasing contract with a fine tooth comb later, but you won’t need this right away. 🙃
Hope this helps a bit! If you have any other questions I’m here!
@@lifeingermany_ hi Jenna, thank you so so much for this detailed and super helpful reply!! (And apologies for the delay, I only just saw that you replied!)
I would love the contact details of your financial advisor!! I can reach out to you on Instagram if that’s okay to ask for the details! Thanks again :)
Do you buy as an individual or as a company?
Jenna was anderes ! Dein Ton bei jedem Video ist unterschiedlich , irgendwie hab ich das Gefühl du drehst mit drei verschiedenen Kameras . ! Woran liegt das ?
musste heute Lautstärke verdoppeln
@@petergga Was sollen diese komischen Händchen mit dem Fingerzeig auf Deinen Namen bedeuten? Warum schreibst Du nichts dazu und stellst immer nur Deine zwei seltsamen Händchen hinein?
When do payment of broker come into play ?
After you sign the document at the notary, the broker will send you a bill in the mail 🙃
@@lifeingermany_ thank you very much for responding , I Probably didn't put my question well enough -- I meant to ask, in the case of selling a property in Germany and aiming at purchasing another one - our broker requested her 5.9 percent from the house sale . Fine ..
When is a bank like sparkaasse suppose to release the money to my mother ...time span please ? Love your channel
Germany does not offer interest only loan
What does that house cost over there by you? The price is where we live our 1.2 million right now. So we are completely out of the market for a house. Even a one bedroom apartment cost €350,000.
It depends on where you want to move to. But the prices are relatively high right now. And in comparison an apartment is much more expensive than a house.
@@claudiakarl7888 very very true! Unfortunately… since most are looking at apartments. It’s almost worth it to invest in a house and split it into apartments to make a bit of the money back at the moment
@@lifeingermany_ Or go for a small house. You‘ll find a lot of houses with 90-100 sqm, at least where I live
@@lifeingermany_ Moin Jenna. Meine große Tochter kam vor ca. 10 Jahren, damals war sie Anfang 20, an einem Sonntag zu Besuch. Freudestrahlend breitete sie einen Bauplan für ein Einfamilienhaus aus. Sie hatte mit ihrem Freund südlich von Hamburg ein Musterhaus besichtigt. Und sich danach ihr Traumhaus zeichnen lassen. Auch die Finanzierung stünde. 250.000 Euro solle es kosten.
Ich habe sie gefragt, wo sie es denn hinstellen wolle? Dummes Gesicht. Ob sie daran gedacht hätte, daß ja die Kaufkosten für ein Grundstück noch dazukäme? Ein Grundstück wie meines, mit rund 500 Quadratmetern würde hier, östlich von Hamburg, rund 150.000 Euro kosten. dazu müsse noch die Notariatskosten rechnen..
Und die Kosten für die Grundbuchamtseintragung..
Und die Kosten für die Möbel..
Und..
Sie hat nie wieder von einem Hausbau gesprochen..
Apropos: Macht das mal mit einem Brief an eines der Weihnachtsdörfer! Schöne Idee!
Kennt ihr in Kanada eigentlich auch die Zahnfee? Unsere jüngere Tochter hat nach dem Ausfall ihres ersten Milchzahnes von der Zahnfee ein Freundschaftsbuch bekommen! Schöne Erinnerung, auch für mich!
Schönen, 3. Advent, Grüße von der Elbe Ben 👍🏻😷
It s not that high
1.5% rate good luck with that
Times have changed since I published this, huh?! 😂
first
Hallo Jenna. Sehrgut. Würden allerdings alle persönlichen Informationen streichen. Das weckte in Deutschland neid. Die Kapitalrendite ist sehr niedrig. Aktien oder ETF bringen bessere Renditen. Du bleibst unabhängiger. Info in Finanztest.
also, why are you against taxes? they pay teachers and nurses!
Nah that’s health insurance
Für deutsche Verhältnisse müsst ihr sehr reich sein!
Das kommt darauf an WO! 😉
in größeren Städten hast du vollkommen recht!
EBay is full of scammers 😂 so let’s avoid that
You’re right! But also… we’ve found our properties on Kleinanzeigen..soooOo I would say you just have to be very careful
Wahnsinn, wie unmenschlich schnell und hektisch Du sprichst! Es wird einem direkt schwindelig bei Deinem atemlosen, überirdischen Sprechtempo!
Bitte sprich doch ein wenig langsamer, denn der Mensch ist doch kein D-Zug und vor allem frage ich mich, was Dich zu diesem, mörderischen Tempo antriebt, wo bleibt Deine innere Ruhe, Gelassenheit und Dein Seelenfrieden?
Well somebody’s butt is hurt here. Stop criticizing her Rainer
@@jw7940 Do not be silly - be constructiv and couraraging to build up your and yours Neigbours Charakter and Taffness!
Hallo, liebe Jenna!
Du hast von Natur ein liebes und anmutiges Gesicht
und deshalb frage ich mich, warum Du dieses so völlig unnötiger Weise mit künstlichen Augenbrauen verschandelst?
Bekenne Dich doch lieber zu Deinem natürlichen Aussehen und Du wirst bald merken, daß Du damit nicht nur viel Zeit sparst, Deine Haut schonst und sondern vor allem Dein Aussehen als sehr viel natürlicher und authentischer empfunden wird!
German creep alert !! 😂😂
Thanks