Steps to ownership

How to buy or rent a house/apartment?

You're currently renting an apartment and trying to determine whether or not you should buy your own real property for living purposes. We will help you assess your options in the following few steps. Anyone wanting to buy an apartment house instead of renting should first analyse the advantages and disadvantages, as well as conduct an analysis of their financial situations. Before you start conducting your analysis, you should assess your current situation:

Are you ready to own your own living space?
What would be your ideal surroundings and what are your long-term plans in life?

We provided you with some information and questions to help you resolve your living situation in an easy way.  Each section will give you the pros and cons of owning your own home. Buying your own real property has lots of different advantages, but it has disadvantages as well. The best approach towards the realization of your project is step-by-step – by using the questionnaire we've prepared for you:

1) Are you ready to own your own home?
First off, you should ask yourself if the location of your desired real property is in fact the solution to your long-term plans for a home. Does owning your own real property contribute and lead to more stable living conditions in every possible respect (with regards to your private life, occupation) and are you in a position to assume long-term financial obligations and are you ready to do  the extra work that buying your own house will bring (for example, gardening, etc.).

2) What is your financial capacity?
You should ask yourself if you can afford buying your own home. Before a bank gives you a mortgage they will insist on your solvency in the upcoming years. You must be able to pay off your mortgage debt, interest, as well as additional maintenance costs for your real property in the   long-term run.

3) You must clearly state your requirements
Make a list with the details of your new home – this will best be done by using our checklist!

4) Analyze the market prices of real property
Study in detail the offer on the real property market and make your own list of desirable real property you can afford.
Be careful – reading real property advertisements is a skill in itself!
Set up an initial meeting with an advisor at your local bank and go through all of the estimates and package loans.

5) Which type of real property suits you best?
The real property market offers a great variety of family houses, terraced houses, apartments, urban villas, etc. In addition, there are also various construction alternatives available to you. Your choice of an apartment building, duplex house, terraced house or standalone family house will depend not just on your dreams and needs, but also your family budget. The best course of action is to get an overview of the various types of real property for housing purpose from several banks, study their advantages and disadvantages and then decide which option best suits your living requirements. You should also bear in mind the difference between residential objects with a set design and residential objects custom-designed by an architect.
Consequently, your choice will depend on a number of factors and the amount of time you invest into finding your ideal home will greatly impact the end result.