Financial expert tip: Real estate in Herten under 300,000 euros - is it worth buying?

Financial expert tip: Real estate in Herten under 300,000 euros - is it worth buying?

According to a report by www.hertener- Allgemeine.de,
Real estate prices in Herten are likely to decline. There are more and more offers for houses under 300,000 euros, but this is often accompanied by additional renovation needs. An example is a house in Langenbochum for 150,000 euros, which is described as “lovingly maintained” and is part of a homeowners' association. Another house in Herten-Schlosspark is offered for 225,000 euros, but needs a complete renovation. There is a house in Bertlich for just under 200,000 euros that is still in need of renovation. Only a few properties do not require major renovations and are therefore correspondingly more expensive. Before making a purchase, interested parties should therefore be aware that inexpensive properties often require accompanying renovation work.

This development is not only limited to the real estate market in Herten, but can also have an impact on the broader regional real estate market in Germany. An increasing number of inexpensive properties in need of renovation could lead to an additional business area for construction companies and tradesmen. An increase in renovation projects could result in increased demand for construction and construction materials.

Overall, the developments in Herten suggest that the real estate market in the area is characterized by a change in the real estate supply. Price reductions could be an opportunity for buyers, but potential renovations and cost factors need to be taken into account.