First step: Detailed cost calculation
First, calculate your budget and how much equity you can contribute. What is your account balance and cash assets? Do you invest in stocks? What is the status of your building savings balance? At least 20 to 30 percent of the real estate price should be paid from your own capital. Financing without equity is possible in some cases, but the bank requires a high and secure income and the loan is significantly more expensive.
Also consider the incidental costs of purchase. These include the notary and land registry costs, which claim two percent of the house price, as well as the land transfer tax at 4.5 percent. If you hire a broker, the commission costs up to 3.57 percent. In addition, plan for sufficient reserves for renovation and refurbishment work.
It depends on the district
When it comes to the question of how much a single-family home in Hamburg can cost, average real estate prices provide an initial guide. Currently, you pay for a house on average about 5,530 euros per square meter. However, prices vary widely depending on the district. In Winterhude, the price per square meter is around €10,296, in Fuhlsbüttel €5,700 and in Hummelsbüttel €5,200. Consider early on which part of town fits price-wise and suits you best. In this way, you can search in a targeted manner and get a great deal closer to your new single-family home.
Your family home in Hamburg
We offer a wide range of houses in Hamburg. Feel free to browse through our offer. The right house is not there yet? No problem – feel free to contact us with your individual search request and let us know your wishes. Subsequently, we will inform you about suitable offers even before the official publication. We look forward to hearing from you!
