Bendzko Real Estate our Building at Kudamm in Berlin

Our Guide to

Buying Real Estate

Find the property that fits you with Bendzko.

We provide full support and guidance throughout your property purchase. Look forward to working with knowledgeable and reliable contacts!

Whether you are looking for your dream apartment or an investment property, Bendzko is the right address. As real estate agents in Charlottenburg and other Berlin districts, we bring years of experience and a wide selection of prime properties. We guide you through the entire purchase process with partnership and expertise.

From preparing the notarized purchase agreement to connecting you with relevant contacts, e.g., for financing, we ensure you reach your goals quickly and smoothly.

Successfully Achieve Homeownership with Expertise

Along the way to your dream property, a few questions may arise: What should I consider when buying real estate? What should I know about location, financing, personal use, or investment potential? What are the pros and cons of owning a condominium? Discover key facts and tips.

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Constantin Bendzko
constantin@bendzko.de
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FAQ: Buying Property

Answers to your most important questions:

To find the right apartment or house, you should first consider which requirements the property should meet from your point of view. After all, you will probably live there for a long time – and want to feel as comfortable as possible. Narrow down both the location and the features of the property. Important aspects include:
  • City, countryside or suburban area – which type of location do you prefer?
  • Apartment, terraced house, multi-family house – what is your preference?
  • Top-floor or standard apartment, maisonette or loft, ground floor with garden – what type of home suits you best?
  • How much space and how many rooms do you need?
  • Old building or new construction, with or without need for renovation – and possibly with the opportunity to implement your own design ideas before moving in?
There are many ways a dream property can look and be located. Keep in mind that the decision for your property will have long-term consequences. Expected professional or family changes should therefore be considered in advance. Write down your ideas – this way you’ll always have the key requirements for your desired property in view.
In general, location is considered one of the most important criteria when deciding whether to buy a property. If you plan to live in the apartment yourself, your personal preferences and needs naturally take priority. But even if you plan to rent out the property, some location factors are more important than others. Consider, for example:
  • Transport connections: Ideally, the location benefits both from proximity to public transport and good access by car. Anyone who commutes daily to work depends on solid transport links.
  • Noise level: The downside of good transport links can be high noise levels. But nightlife or long-term construction projects can also affect the quality of living.
  • Shopping facilities: The closer supermarkets and stores are located, the more attractive the location is generally considered to be.
  • Leisure facilities and green spaces: If parks, sports centers, restaurants, bars, cinemas, etc. are nearby, this definitely speaks in favor of the property’s location.
  • Neighborhood reputation: In cities like Berlin, there are trendy districts with long traditions and others still emerging. Just one street over, there might be an area “without particular features” – but with the advantage of much lower property prices or rents. Ask your real estate agent about the characteristics of each neighborhood. It doesn’t always have to be Prenzlauer Berg…

Whether a condominium or a single-family home, buying real estate is still considered an attractive and relatively safe investment, especially from a long-term perspective.

There are many reasons for this:

  1. Housing is scarce but in high demand – especially in large cities with growing populations. Rising prices for investment properties in Berlin, Hamburg, Munich, or Frankfurt are therefore almost inevitable. This often results in strong returns – up to four percent after taxes are possible.
  2. There are few alternatives for meaningful investment. Interest rates are currently at a historic low and are expected to remain so for some time. As a result, traditional investments such as savings accounts or government bonds yield little return. Investors prefer tangible assets and benefit from favorable financing conditions – meaning that mortgage loans are offered by banks at very low interest rates.
  3. “Concrete gold” (real estate) is a reliable safeguard against inflation. This makes property investments ideal for retirement planning.
  4. According to experts, the German real estate market is undergoing a long-overdue catch-up process. In other words, prices need to rise simply to reach the levels seen in other countries and major cities.
  5. Once the mortgage for your owner-occupied apartment is paid off, you’ll have more disposable income than someone who continues to pay rent. For rental properties, you can enjoy regular income right from the start.

By purchasing a condominium, you have the opportunity to invest your capital in a long-term, crisis-proof way. You’ll no longer pay monthly rent and will simultaneously strengthen your retirement savings. However, you’ll be less flexible if your living circumstances change. Nevertheless, you can rent out a condominium and still come out ahead financially. Renting, on the other hand, offers more flexibility and less responsibility. Yet you can rarely make structural changes – such as adding a new bathroom or fireplace – and often have to restore the property to its original state when you move out. In other words: as a tenant, you live in a dependent relationship, and the rent you pay is gone forever. By contrast, the money you spend on buying a home – even if financed with a loan – is ultimately an investment.

Real estate is an expensive investment: Often, your own capital is simply not enough to finance the purchase. With borrowed capital – a mortgage or loan – the purchase can still be made. In fact, when used wisely, leverage can increase the return on your investment. However, a higher proportion of borrowed capital also increases the risk of being unable to meet loan payments. It’s therefore essential to keep an eye on financing costs, particularly interest rates. It is advisable to have sufficient equity available – ideally at least 30% of the purchase price. Additional costs such as taxes, agent fees, and notary fees should ideally be paid from your own funds. So, first clarify your financial situation carefully to gain a realistic overview of your options. Determine how much money you need and compare offers from different banks. Even though interest rates are currently low, only borrow as much as you truly need. If the property you want is out of reach, look for a more affordable alternative. Keep in mind that you should not allocate too much of your monthly income to loan repayment and interest – you still need money to live on. Also remember that unexpected repairs or renovations may arise. These costs should also be factored into your budget from the start.

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Constantin Bendzko

Constantin Bendzko ist die 3. Generation im Familienunternehmen

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