Refurbishment pays off

It is currently a good time to buy a property. Prospective buyers are benefiting from the comparatively lower interest rates and the fall in prices in many places, which makes financing easier. In addition, subsidies are available not only for new construction, but also for renovation measures or the purchase of existing properties.

The best-known subsidies include the programs of the Kreditanstalt für Wiederaufbau and the Federal Office of Economics and Export Control, which can include both grants and low-interest loans and differ greatly in their purpose. There are subsidies for the purchase of a new owner-occupied property as well as for the age-appropriate conversion, purchase or energy-efficient refurbishment of an existing property. It is also important to keep an eye on state and regional programs. Many prospective buyers are often unaware of these due to their low public profile.

"Prospective buyers should obtain information as early as possible, as subsidy programs can have a direct impact on affordability or the available purchase budget. In some cases, comprehensive consideration of subsidy programs is what makes a property purchase possible in the first place. Only if prospective buyers know in advance when and for what type of property they will receive which subsidies and to what extent can they make their search more targeted and often more comprehensive. In addition, some subsidy programs must be applied for before the purchase," says Julia Sacher, office manager at VON POLL IMMOBILIEN Freiburg.