This means you benefit from lower interest rates and lower property prices

This means you benefit from lower interest rates and lower property prices

Thanks to cheaper interest rates, real estate prices are under pressure, which is enabling many people to fulfill their dream of owning their own home. According to a report from amp.focus.de, prices for houses and condominiums fell by an average of 9.9 percent in the second quarter of this year compared to the previous year. Building interest rates have also fallen in recent weeks, making purchasing a property more attractive. Experts predict that the mix of a cheaper purchase price, lower interest rates and new funding options can lead to savings of many tens of thousands of euros. Furthermore, it is pointed out that living space is becoming increasingly scarce while rents continue to rise, which also makes purchasing real estate attractive.

Furthermore, buyers should negotiate hard on the purchase price, as an average of 456,000 euros including additional costs were paid for a property in the third quarter of this year, compared to 511,000 euros the year before. Experts also recommend bringing as much equity as possible in order to receive cheaper interest rates. Banks currently attach great importance to ensuring that borrowers have at least ten to 20 percent of the purchase price plus money for the additional purchase costs. Experts also recommend taking advantage of funding sources, as many federal states promote the purchase or modernization of residential properties with low-interest loans.

Overall, experts recommend taking advantage of the buyer's market situation, negotiating the purchase price hard, bringing as much equity as possible, using funding and securing building financing for 15 to 20 years. Buyers should also remain flexible in order to keep the monthly rate affordable. Small differences in interest rates can result in savings of several thousand euros over a long term.

These are important aspects that need to be taken into account, says an expert from Interhyp, according to a report from amp.focus.de. It's worth taking the time to find the best conditions and to make your finances as advantageous as possible.