How to calculate your budget
As a general rule, you should contribute equity of 20 to 30 percent of the property price to finance your new home. Equity includes, for example, your account balance, the shares of your home savings contracts and investments in securities and shares. Also, make a list of your monthly income and expenses. Also, take into account the house money you will pay for your apartment each month. This will ultimately give you a sense of how much money you can invest in financing.
Include ancillary purchase costs
When asking how much the condominium should cost, many people forget about the ancillary costs of purchase. These consist of notary and land registry costs, land transfer tax and ancillary financing costs and total around 15 percent of the property price.
Orientate to average purchase prices in Hamburg
Whether it’s a house or an apartment – for most people, owning their own property represents the biggest purchase of their lives and takes up a lot of money. Nevertheless, you should not overpay in any case. The average real estate prices give you a first overview. The average price per square meter for an apartment in Winterhude is around €8,100, in Fuhlsbüttel €6,000 and in Hummelsbüttel around €5,300.
Support from an expert
The question of how much a condominium in Hamburg can cost depends primarily on your budget. At the same time, you should analyze the current market situation and find out what the prices are for comparable apartments. We are your expert for the real estate market in Hamburg and are always at your side with our expertise. In addition, we will be happy to put you in touch with a financing consultant who will find a loan with ideal conditions for you. Please feel free to contact us.
