Of course, a property is an interesting and certainly good investment for retirement, but especially on the subject of heritage property you should be careful as a possible buyer, because then such an investment can then sometimes lead to a personal bankruptcy.
Almost everyone who buys a property needs a bank loan for it, but also ties in with the debt over 10 years or more. No matter how your acquired property will then develop economically, the financing bank will always have naturally also served the borrowed credit. You, the borrower stand for just this over the entire repayment period.
Of course, you financial advisers who want to make such a property “tasty”, then sometimes like a forecast calculation. However, it only covers their current economic and tax situation.
How this situation will develop over the next 12 years is and remains a prognosis. Exactly therein, however, from the point of view of Thomas Bremer from the Internet portal www.diebewertung.de also the problem. Facts are the costs incurred by the purchase of the property and also the loan repayments they have to make. Whether then the acquired monument property really as predicted also expected, remains an unknown.
Costs and income
Yes, that even goes so far that they can not even know at the time of purchase of such a monument property, at what rental price the apartment can be rented, because you buy so in a historic property a “old stock, a piece of land and issue a refurbishment “. Quite simply, all costs are clear, all revenue is speculation. That can become a “dangerous business”.
Tax advantage only for first-time buyers
The tax depreciation possibility of such a monument property is 12 years, divided into 8 years a 9% and 7 years a 4% increased tax depreciation, related to the renovation costs which must then be recognized by the competent tax office.
However, such “recognition procedures” can sometimes take two years or more, and of course you have a burden of having the tax benefits during this time. Of course, you can then ask for them retrospectively, but you must first pay in advance. That can mean a financial effort.
But it is also important that this increased tax depreciation option, only the first purchaser has. If you have to sell the acquired monument property, then it will be a normal secondary market or existing property.
From the past, we know that for a listed property compared to an existing property in a comparable location, up to 50% and more must be made at a discount on the purchase price. Money they lose.
If you are interested in a listed property, then I recommend you to operate on Immobilienscout own research and to look at the housing offers in the field of secondary market real estate in the environment. This is an indicative price you will get if you need to sell your apartment. You will then see my comments confirmed.
Alternative: existing property
Just think about whether the acquisition of an existing property is not better, especially since they almost always get twice the amount of an existing property for the purchase price of a listed property. That’s worth considering.
Advantages of existing property
But if you have an existing property, you always have a tenant. He will not move out of the apartment or his rent payments stop just because they have bought the apartment. But you can also see if his rent paid on time, etc. Since then they have a clear knowledge advantage over a monument property.
In addition, please always have a copy of the last 2 minutes of the owners meeting handed out, then they know in what state the community property is. There are clear and comprehensible facts that you can check. If you buy a listed property you will not get these facts at the time.