6 Tips To Save Money For Buying A House
Low interest rates make building and buying a house attractive. The dream of owning your own four walls can often be realized with less equity. On the one hand, the favorable interest rates are mitigating the rise in prices. On the other hand, with clever planning and financing, you can save a few percent of the price both when building a house and when buying your own home or apartment: We will show you ten helpful tips for saving money for buying a house.
1. Negotiation is worth trying
The purchase price of a property can generally be negotiated. Whether the talks promise success for real estate buyers depends on demand. Sometimes the seller is in a hurry because he needs money urgently. The purchase prices for emergency sales are often well below the market value of a property. But beware: in order to take advantage of the opportunity, you have to strike quickly. So hire one real estate appraiser, which can warn you of a mistake. Also at foreclosures there is an opportunity to shop cheaply. To do this, however, you need strong nerves in order not to be dissuaded from your price idea despite the pressure of the competition.
2. B position is trump
the land prices depend on the location. If you forgo the top location and instead choose a property in a B location with good infrastructure, you can often get property for less money – without significant losses in living and quality of life.
Builders who can wait will be rewarded. In order to save money when building a house, it makes sense to postpone measures that are not required for moving in a few months: for example theloft conversion, the erection of acarportsor landscaping. This not only gives you time to consolidate your finances. Anyone who employs craftsmen in their own household can claim the resulting costs for tax purposes. A maximum of 6,000 euros per year for craftsman services can be deducted from the tax – this results in a tax refund of 1,200 euros.
4. Doing it yourself saves money
The labor costs are particularly high when building a house. The possibilities for saving are correspondingly interesting for builders who can do the work on their own home. Even house builders with average manual skills who limit themselves to light jobs with a low risk of shortages – such as painting and wallpapering,thermal insulation and drywallor outside work – they can building-costsat least by five to six percent and save a nice amount of money.
5. Smart architecture
Cheap house building begins with the planning. A plain one:Layout not only reduces construction costs. Advantage of a compact house: It also consumes less energy, which means that the monthly running costs are lower. Architectural extras such as unusual roof shapes, bay windows or turrets should therefore be crossed off the list right away. The following applies to windows: Instead of charming (but expensive) casement windows, it is better to choose the standard variants in common dimensions. Simplicity is also the key when it comes to bathroom and kitchen fittings. The expenses can be very high for fittings, sanitary objects and tiles with a special design. So don’t look for anything special here, instead focus on quality at a good price.
6. Give less to the tax authorities
Buyers of existing properties can save if they also buy the home furnishings. The assessment basis for the real estate transfer tax is the value of the property, i.e. the house and land. However, inventory such as fitted kitchens, awnings or saunas are not part of the property. You should therefore have the purchase price for the inventory shown separately in the notarial contract. Then you pay no real estate transfer tax for these things when buying a house. The same goes for themaintenance reservein apartment buildings.
how to save money for a house
how to save for a house
how to save money for buying a house
Tips To Save Money For Buying A House