Suche
Mein Konto
Houses in Schleswig: This is how much equity property buyers need
Find out what sums future property buyers will have to set aside to purchase a property. Realistic calculations and comprehensive information on the required financial resources.
Houses in Schleswig: This is how much equity property buyers need
If you want to realize your dream of owning your own house or apartment in Germany, you have to be prepared for high financial demands. According to data from the analysis company Bulwiengesa, the average price for a terraced house in Germany is around 552,000 euros. Real estate costs tend to be even higher in urban areas, while they tend to be cheaper in rural areas.
In order to realize their dream of owning their own home, prospective buyers should generally be able to contribute around 20 percent of the purchase price as equity. For a terraced house with the average price mentioned, this means a reserve of 110,000 euros. In addition, the additional purchase costs must be taken into account, including notary and land registry costs as well as the real estate transfer tax, which varies between 3.5 and 6.5 percent depending on the federal state. In this example, the estimated additional purchase costs are around 43,000 euros, not including brokerage fees.
In summary, potential buyers should be able to raise at least 153,000 euros in equity before applying for a loan from a bank to purchase property. It is important to note that property prices may change in the coming years, so it is advisable to prepare well financially and keep current costs in mind. Despite the high financial hurdles, with disciplined saving and sound financial planning, it is possible to make your dream of owning your own home come true.