The supply of existing properties on the real estate market is increasing, which appears attractive to buyers due to lower prices. However, prospective buyers should find out exactly what costs they will incur. Professional estate agents can also help with this. They can inform potential buyers about the advantages and disadvantages of existing and new-build properties.
For example, estate agents provide information about the actual renovation requirements and help to minimize the risk of financial surprises. If anything is unclear, good estate agents will also refer you to experts such as surveyors. With the help of this information, each prospective buyer should individually weigh up whether an existing property or a new build is better suited to their needs.
Prospective home buyers should also consider the costs for the common property. The Verband Privater Bauherren points this out. Here too, experts and estate agents can help to understand and assess these costs, in particular by inspecting the minutes of meetings and budget plans of the community of owners. The information obtained makes it easier to assess the overall costs and can help prospective buyers to make an informed decision.
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