Thread: House buying
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Old 14.05.2008, 12:43
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Re: House buying

There are mortgage calculators on most of the big bank sites.

The Eigenmietwert is actually a figure based on the theoretical rentable value of the house. They calculate this and you will be assessed on a percentage - for me IIRC it is 35% and works out nice and low.

You will need building insurance and then contents/theft insurance. Also ensure you're covered for any large glass doors and also for any costs where they might have to dig into the ground to fix water breaks.

The mortgage issuer will advise you to have 10% on top of the repayments available for incidental costs - which should be ok in a house but do consider shared properties might have higher costs for communal areas.

Your street might be private and you are responsible for the maintenance there too - so if the road's busted up, you'll have a little association there with a fund who look after things.

Last but not least - subscribe to Rights Protection (Rechtschutz in the German-speaking area). This entitles you to legal coverage should you have a run-in with your neighbours. I believe it is very worth it
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