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Survey reveals gaps in knowledge when buying real estate
Buying a house or apartment can quickly cost hundreds of thousands of euros, but many people do not know important conditions. There is a need to catch up, especially at one point.
For most people it is the greatest investment in their lives, but many consumers have knowledge gaps when buying real estate. This was shown by a survey by Commerzbank, in which around 2,500 people took part.
Accordingly, only 60 percent of those surveyed know that there are ancillary costs such as real estate transfer tax, notary costs and a possible brokerage commission when buying real estate or building. These ancillary costs usually account for ten to 15 percent of the purchase price.
According to the survey, only half (54 percent) is aware that the use of 20 to 30 percent of equity is often recommended for real estate financing. And less than a third (28 percent) is known that there are many funding programs, for example for families.
High satisfaction with living situation
The representative survey also shows that many people are extremely satisfied with their living situation. A good half of the respondents (52 percent) indicated. However, 24 percent want to enlarge their living space, just as many want to get out of the city into the countryside and 33 percent want a balcony or garden.
30 percent can imagine acquiring home ownership in the near future, according to the survey, which was carried out online by the YouGov opinion research institute in March. There are 30 percent opposite, which, according to their own statement, cannot afford a property for the foreseeable future.
dpa
Source: Stern
