German Real-estatese for Beginners

Scheduling a trip for mid-august meant also carefully setting up appointments with real estate agents (MAKLER) in order to make the most of our stay in Berlin. We had surfed on real estate web sites so by this time we had acquired the essential vocabulary:

a) EXPOSE’ – a 3-page document detailing the property. Inclusive of photos (external view of the building, sometimes photos of the interior as well), information on the Kiez, age and condition of the building, square footage, amenities;

b) GRUNDRISS – the flat’s map

c) WOHNGELD – the cost for running the flat

d) and last but not least…the OBJEKT! (the property)

So…once the ideas are rather clear on the OBJEKT you are looking for, ask your MAKLER for one or more TERMIN (=appointment) to see a few flats of the desired size (and price) and make sure you get an EXPOSE’ via e-mail before in ordert to fine tune your research, possibly with a GRUNDISS telling you more about light, orientation of the flat etc.

Getting hold also of the cost profile of the flat (WOHNGELD) will help you in setting up your excel file and in identifying your ongoing cashflow profile, depending if you’re letting, living in the flat or using it as a FeWo (holiday apartment). Of course transaction costs should also be investigated, but those are quite clear and standard, they do not depend upon the individual property.

But the crucial question is….WHERE IN BERLIN?

That requires a bit more than just surfing the net and working the phones.

Get hold of you birkenstocks, and hit the town for extensive empirical research!

Berlin is larger than life

Berlin is larger than life

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