How to find and buy your dream home in Germany with Hypofriend
Finding your dream home can be an exciting and fulfilling journey, but it can also be overwhelming without the right guidance. That's where Hypofriend, the expat-friendly mortgage broker in Germany, comes in. With their expertise and comprehensive services, they are here to help you every step of the way.
10 steps to help you find your dream home in Germany
This 10-step guide outlines the process of finding and buying your dream home, providing valuable tips to make your search easier and more successful.
Step 1: Determine your home preferences
Before diving into the home-buying process, it's important to understand what you can afford as well as the basics of obtaining a mortgage. Hypofriend offers a free webinar which provides valuable insights to help you navigate this process of finding a house in Germany.
In addition, take some time to explicitly define your home preferences, such as the features you liked in previous homes you've lived in or visited. Think about things like a balcony, garden, elevator, open kitchen, number of bathrooms, parking, etc. Compile a list of features you can't do without and others that are nice to have.
Step 2: Explore different neighbourhoods
Finding the right neighbourhood is crucial when searching for your dream home. For all Berliners, Hypofriend provides a Berlin Property Prices and District Guide that shows the average asking price for properties in different neighbourhoods.
For other cities in Germany, you can use tools like Google Maps to check the proximity to important amenities like schools, supermarkets, public transportation and other factors that are important to your daily life. Determine your ideal square metre range and select neighbourhoods that match your budget and preferences.
Step 3: Set your search parameters
To streamline your home search, it is important to establish key search parameters that match your requirements. You can also conduct a reality check by exploring the supply of properties in your selected neighbourhoods and observe the square footage range. To refine your search, define your parameters to include city, property type, minimum square footage, minimum number of rooms, and more.
Calculate your budget using Hypofriend's affordability calculator to find properties within your price range.
Step 4: Use key search tools
Use search tools and platforms to find actual properties that match your criteria. Hypofriend's Property Radar is an excellent tool that consolidates properties from multiple platforms and covers most of the market.
Step 5: What to look for in an exposé and floor plan
Exposés provide essential information and a description of a property. It contains important information such as the location, conditions and the furnishings. Look for details such as the rental status, broker's commission, square metre, ceiling heights and other additional features.
When viewing properties online, always make it a priority to review the floor plan as it gives you a better understanding of the property's layout and helps you assess its potential. Analyse the floor plan for factors such as window placement, balcony / patio size, wasted space and the ability to connect the kitchen and living room.
Note: The question of the energy level of the property is more topical than ever. Look at the so-called Energieausweis before investing in your future home. The higher the energy level is, the higher the energy consumption will be. The label can help you determine the energy costs and whether you will have to carry out energy-efficient renovations in the near future.
Step 6: Refine your search
Even when most of the properties available on the market are being shown on the Hypofriend Property Radar, there are many "hidden" real estate opportunities that are more difficult to find. That's why in some cases, it can make sense to work with an estate agent. Working with a realtor will help you discover this hidden market which contains property listings - which aren’t shown online - that are offered directly to these agents and their clients.
Step 7: Viewing properties
Once you have a shortlist of properties that you are interested in buying, start scheduling viewings and attend them as soon as possible. At these viewings, it is important to take notes, measure important dimensions and evaluate factors such as sun exposure, brightness and room connectivity. You should also consider any potential renovations and find out what the rules and restrictions are regarding any changes to the property.
Step 8: Secure financing
Once you've found your dream home, securing financing is a critical step. Hypofriend's German mortgage calculator helps you to discover your home loan options. In addition, their advisors can help you get a detailed understanding and find the most suitable mortgage options tailored to your financial situation and preferences.
Step 9: Make an offer
With your financing in place, it's time to make an offer on your dream home. Rely on Hypofriend's expertise to help you determine an appropriate offer based on market conditions, property value and negotiation options. Your advisor can guide you through the offer process and help you negotiate favourable terms on your behalf.
Step 10: Close the deal and celebrate!
After your offer is accepted, it's time to proceed with the necessary paperwork and closing procedures. If you wish, Hypofriend can recommend trusted professionals such as notaries and attorneys to ensure a smooth closing process. Once all the legal and financial requirements have been satisfied, it's time to celebrate! You've successfully found and secured your dream home with the help of Hypofriend's expertise and support.