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German pensions are becoming increasingly scarce. For many seniors, state payments are just enough to live on. Fewer and fewer senior citizens can maintain their standard of living. Not to mention fulfilling their wishes for retirement. Real estate owners can change this through real estate retirement. You can find out how this works here.

What is real estate retirement?

Stay in your own property and improve your pension at the same time. A dream that becomes reality through real estate retirement. With real estate retirement, senior citizens sell their property, but still retain a right of residence. This can be either lifelong or temporary. This depends entirely on the pension model. The sellers can also decide whether they prefer to receive a high one-off payment or a monthly pension. For senior citizens, this is an ideal way to supplement their pension, but for buyers it is an interesting investment.

How is the pension calculated?

The basis for calculating the pension is the value of the property. This is determined by a professional expert opinion. The further calculation then depends on the chosen pension model. Here, sellers can choose between a personal pension and a temporary pension. In addition, it is also possible to receive the complete price in a single payment and at the same time receive a lifelong or temporary right of residence.

Life annuity or temporary annuity?

With a life annuity, the seller receives a one-off payment and a life annuity. The amount of the annuity depends on the one hand on the amount of the lump-sum payment and on the other hand on the statistically expected remaining life of the seller. In addition, the seller can choose whether he wants a lifelong right of residence or one that is limited to a certain period of time. This option is also suitable for a temporary pension. This model also consists of a one-off payment and a monthly pension. This is also limited to a certain period, which is fixed.

Which retirement model is suitable for me?

Which model makes the most sense depends entirely on the individual plans of the seller. Do you now want to make a dream come true with a large one-off payment or give this money away to your children or grandchildren? Is your pension high enough in itself to make a good living from it or are you dependent on a larger sum? Are you planning to stay in your property for the rest of your life or are you planning to invest the money that you receive through the sale in a senior-friendly accommodation? These are just some of the questions you can ask yourself to find the perfect model for you.

Are you interested in real estate retirement? Contact us now for a consultation. Together we will find out which model is best for you.

Photo: © Jenny Sturm – stock.adobe.com

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The most expensive key service in the world – this is the image that many real estate sellers and buyers have of real estate agents. Many owners only realize that there is much more to selling real estate when they realize in the sales process that they have put too much effort into it.

The sales process begins with the compilation of all important documents for the sale and the preparation of a meaningful exposé. Often sellers still lack important documents such as an energy certificate, a floor plan and good real estate photos, or they are faced with the question of where to obtain a land register extract or a land register map. A good broker will see to it that all these documents are created or requested.

The broker is also a great help when it comes to pricing. This requires a very good knowledge of the market. How much a property is worth depends on many different factors, which is why it is difficult to determine a suitable price just by comparing it with the neighboring house. Expert estate agents take a close look at the house and its immediate surroundings before making a value assessment.

Once the price has been reached and all the important documents have been gathered, the broker takes care of a suitable marketing strategy. Professional brokers know their field of application very well and know where to advertise an offer in order to address the appropriate target group. A good broker also takes care of the communication with the interested parties, arranges appointments and carries out the visits independently, if desired by the seller.

As you can see, before the first inspection even takes place, the majority of the tasks have already been completed. And the broker’s work does not end with the last inspection. He is also a great help to owners in price negotiations, after all he is used to dealing with objections and mediating between the various interests.

In addition, the real estate agent checks the creditworthiness of the prospective buyers and thus does everything to ensure that the seller does not sell his property to someone who overestimates his financial possibilities. The real estate agent is also a support when drawing up the contract; after all, he knows which key data must be included here in any case.

But the broker is not only there for the seller. Buyers can also turn to a broker who shows them offers that match their criteria before they are marketed elsewhere. He is also an expert contact who can answer questions about the property and the contract better than the owner himself.

But of course, as in almost every professional group, there are also black sheep among estate agents. Because the term real estate agent is not legally protected. So before you decide on a real estate agent, it makes sense to check which training qualifies him and which references he has to show.

Would you like to know how we can support you in selling your property? Contact us now without obligation.

Photo by rawpixel on Unsplash

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How would you like to live? How many square meters and rooms do you need to feel comfortable? And how much can the whole thing cost? Immobilienscout24 has evaluated 40,000 advertisements for rental apartments that were placed on immobilienscout24.de last year.

The apartment, which was most frequently sought throughout Germany, had an average of 150 enquiries. It has 2.5 rooms and 66 square meters. The cold rent for this amounts to 446 euro. However it showed up that a dwelling of this category is hardly to be found in the cities. Depending on the city, up to 1,700 potential tenants apply for such an apartment via Immobilienscout24 alone. This shows how starkly the demand exceeds the supply. And in the future this will probably hardly change in Germany.

Likewise the study of Immobilienscout24 resulted in, how strongly the rents rose in Germany in the past five years. In southern Bavaria and Baden-Württemberg, prices rose by 23 percent. However, this is nothing compared to Berlin, where prices rose by 36 percent in the same period. But this was closely followed by Stuttgart with 35 percent and Munich with 32 percent. In the remaining old federal states and in Brandenburg, price increases are between 15 and 18 percent. In Mecklenburg-Western Pomerania, Saxony-Anhalt and Saxony, prices rose by only nine percent. In Thuringia, price increases still reach 10 percent. The increased prices lead to the fact that smaller dwellings are looked for. At Immobilienscout, these were apartments with 2 or 2.5 rooms and between 45 and 55 square metres.

The study also showed, however, that prices in smaller towns and rural regions have risen sharply. In the district of Lörrach on the Swiss border, prices rose by a whopping 37 percent. In Heilbronn (city), Würzburg (district) and Augsburg (city) there were price increases of 32 to 34 percent.

Immobilienscout points out that already two years ago, not enough living space was taken into account. According to the German Statistical Office, building permits for a total of 316,550 new apartments were issued in 2016. If a building permit is not implemented within four years, it must be applied for and paid for again. Experience shows that about ten percent of building permits are not implemented. If all approved projects are completed four years later, this means that 316,550 apartments will be ready for occupancy by 2020. However, in order to effectively combat the housing shortage, 350,000 to 400,000 apartments must be built annually by 2020. This was the result of a recent study by KfW-Förderbank. In two years’ time, 83,450 apartments will be lacking. However, the study did not take into account the fact that there is a shortage of building land and that building permits have already declined.

Do you want to sell your house in the future or are you looking for a smaller property? Please contact us. We will be happy to advise you.

Photo: © vicnt

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Sunshine and a mild climate all year round? Spend the days on your own porch with a cocktail? Golfing in the afternoon? That’s the way to enjoy a well-earned retirement. That’s why more and more pensioners are thinking: the main thing is to get away! But there are also traps lurking.

German seniors are living longer and longer and have never been as healthy as they are today. When the children are out of the house and working life is behind them, many seniors enjoy their new freedom. They are increasingly flexible and mobile. They spend their free time actively. They travel to exotic places or undertake tours with cruise ships. More and more older people are even moving their retirement home abroad.

Many dream of summer, sun, beach and sea. However, the warmest countries are not necessarily the most suitable. What good is a view of the sea if the nearest hospital is miles away or the doctor speaks neither German nor English? Or if you dream of Miami, for example – popular with many seniors because of the pleasant climate – you need to know that the cost of living in the USA is higher than in Germany.

Poland, the Czech Republic, Hungary and Spain are among the most suitable countries for pensioners. In these countries the cost of living is low and medical care very good. So it doesn’t always have to be sun and beach.

In addition, it is also advisable to pay attention to a few other things when the retirement home is moved abroad. Emigrants can find out whether their chosen country really suits them by asking themselves the following questions, for example:

Do I know the mentality of the country?
Is the climate something for me?
How well do I cope with the distance to my home country?
Do I tolerate the typical national dishes?

An Hamburg citizen could find a positive answer to these questions difficult if he only imagines living in the Bavarian province. Experts therefore advise: If you want to emigrate, you should at least have been on holiday in this country before.

A move abroad must therefore be well planned. In order to benefit optimally from the move, it is also important to hold consultations on pensions, taxes and insurance.

But if you are well prepared and choose your target country wisely, you can spend a relaxed evening of life with more purchasing power than in Germany.

Are you thinking about spending your retirement abroad and have questions about what will become of your property? Please contact us! We will be happy to advise you.

Fotos: © Spotmatik

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If you want to sell your property by yourself, you have to be well organised. Many small things have to be thought of and enough time has to be planned. How long does it take to sell a property? What documents do I need? How much communication with interested parties will I have? Do I still have time after work or do I want to sacrifice my spare time at the weekend? Make sure that you really want to take it upon yourself.

If you want to sell your house or apartment, you need a plan. Insufficient preparation can cost a lot of money. The question arises as to whether the workload can be managed at all without a professional. To give you an overview of the work involved, we have compiled a few aspects for you from experienced professionals.

1. Market analysis and property valuation

To get the most out of selling your property, you need to know how much your property is worth and at what price it can be sold. To do this, you need to know the market price in your region. It is difficult to find out without experience, because when you compare properties in your region with yours, you only ever see the offer prices and not the prices that are ultimately achieved. Depending on the property, there are different methods for calculating the value: the comparison method, the capitalised earnings method and the real value method. The following factors play a role in determining the value:

• Condition of the property
• Property age
• Size of property and/or land
• Indicative land values
• Building value

2. Prepare the property

A property that makes a good impression can achieve a higher selling price than a property that looks spoiled. So take a critical look at them. Should something be renewed or repaired? For example, should walls be painted? Small repairs increase the property’s value. Remove personal belongings and stage open, bright rooms. Home staging can help you sell your home faster and get a higher price. Ask professional brokers how to do this and what to do.

You should not hide any shortcomings. Should these be discovered, this can lead to the buyer’s withdrawal from the purchase contract.

3. Get documents

For the sale of a house sellers need of course several documents. Missing documents could make prospective buyers sceptical and deter them. The most important documents include:

• land certificate
• field map
• layouts
• living space calculation
• blueprints
• energy pass
• land tax assessment
• Excerpt from the register of building sites and contaminated sites
• Certification of development costs
• Operating costs list of recent years

4. Marketing of the property

Once you have all the documents together and know the price at which your property can be sold, you can market your property. Since nowadays most people are looking for real estate online, placements on several online portals are recommended. But even the newspapers have not yet had their day. Here a headline can be worth reading. A sales sign in the front garden also serves its purpose.

The exposé is central to marketing. If this makes a good impression, it can also be reflected in the sales price. Good photos of your property are important for this, but also a detailed description.

5. Organize a visit

As soon as you have started your marketing, prospective buyers will contact you. With the current high demand for real estate, your phone and email inbox will probably not stand still. In order not to miss any interested parties, you should always be available. You must then select suitable prospective customers for the inspection from all reports. Because sightseeing tourism costs unnecessarily much time and nerves. Then you have to find appointments with the real interested parties. The best way to do this is to make an appointment from the outset. During the tour, interested parties will ask questions for which you should be prepared.

6. Sales negotiation

Good preparation for the sales negotiations is also worthwhile. It is advisable to set a minimum selling price and a negotiating margin. You should have the appropriate arguments ready for possible points of criticism.

Are you unsure whether you should sell your property by yourself? We do it for you!

Fotos: © bernardbodo

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