Why are homeowners selling their homes
Buying and selling real estate - what you need to consider when trading
House building prices are also falling very different out. They depend on the type of house (single or multi-family house), the equipment and the location. On average, you should assume construction costs of around 1,000 to 1,800 euros per square meter.
In addition, there are general ancillary costs such as real estate transfer tax, notary and land registry costs and, if applicable, broker fees.
As far as the later house sale is concerned, the speculation tax must be observed in particular. In this case, the speculation period begins with Date of purchase of the property and not with that Date of the subsequent house construction.
If you use the “Buy property, build a house and sell” model for more than three properties within five years, you should also be familiar with the tax regulations for commercial real estate trading, which we explained above.
At credit-financed purchases on the other hand, the early repayment penalty could reduce your profit. What has to be considered here, we explain below under point 5.
- Buy, renovate and sell a house
This model is also with some work connected and should be well thought out. In addition, a house in need of renovation is a real surprise bag can act. Although the buyer can usually get a relative low purchase price looking forward. That's what they are for Renovation expenses often difficult to calculate. It is possible that the buyer is lucky and the costs are kept within reasonable limits. But it is also possible that a much bigger renovation work turns out to be thought and the cost downright explode. You should therefore consult a company fully Inform expertshow he assesses the condition of the house and what renovations he would undertake.
The most common and most rewarding Measures are:
- a new flooring
- a new wall painting
- a new kitchen
- a newly designed bathroom
In this case, too, you should note that the “classic” ancillary purchase costs such as notary and land registry costs, real estate transfer tax and, under certain circumstances, brokerage fees also apply.
When you then sell, you should keep these three questions in mind:
- Sell the house again after two years
In some situations it can happen that freshly baked real estate owners sell their house after only two years. That might be because of a divorce or because there is a unforeseen job transfer in another city. If you have lived exclusively in your house since you bought it or built it, you do not need to pay any speculation tax on the proceeds from the sale. The same applies to houses that were not inhabited by the owner but by his children during this period. The sale of holiday properties, second homes and properties that are used for double housekeeping are also subject to the same rules for speculation tax as the sale of the main residence.
But do you want to just bought and rented Selling real estate after two years, the speculation period of ten years has not yet expired. You will then have to pay income tax on the profit made. You should also observe the regulations on commercial real estate trading and prepayment penalties for loan-financed properties, which have already been mentioned several times above.
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