THESE LINKS WILL ALSO HELP YOU OUT: - 10 Step Process to Buying a House in Germany: lifeinduesseldorf.com/the-10-step-process-to-buying-your-first-home-in-dusseldorf/ - 6 Ways to Transfer Your Money TO/FROM Germany: lifeinduesseldorf.com/international-money-transfers/
Effective money management is needed if we want to build a strong financial security for the future. I started off with 10k, 3 years ago investing In diversified stock market. I did two duplexes with seller financing, Fast forward to now. I am worth 500k and currently finishing my 8 unit apartment building. I am 35 and already retired from the rat race. stock investing works if you are willing to put the hard work in.
Heard the adage about not putting your all your eggs into one basket? The same concept applies to managing your investments. Diversification essentially means allocating your investment dollars strategically among different assets and asset categories to help manage risk. Here are three ways to do it. 1.Spread your risk 2. Diversify across asset classes 3. Diversify within asset classes
Your diversification strategy should be tailored to your personal financial goals and tolerance for risk. If you’re uncertain about how to diversify, consider seeking the guidance of a Financial Advisor.
The first thing that you should consider, when choosing a financial advisor, is the experience and professional background of the prospective advisor. Adequate experience in the financial markets and dealing with clients is of the utmost importance. Since you would be handing over your finances to the advisor, she/he must be well-qualified.
I don't want to appear to be promoting anyone here but, Alicia Seda Rich has worked through multiple cycles of the Economy. Her expertise has greatly aided my success in the diversified stock market. For the past three years she helped me grow my portfolio using her broad and competent knowledge of the financial market.
Also important are the side costs of a house purchase: Mandatory real estate transfer tax is 3,5 - 6,5 % of the price, (if you use a real estate agent 3 - 7% of the price), mandatory notary and land register fee 2% of the house price. That costs come additional to the purchase price
Hello 👋 , so I just bought my house in Germany last year... after 3 years of intensive search and it is really a big deal when you find a house that could be your home, in this way congratulations from my side 🍻. I think that there are some many points that are here missing, like: to check the conditions of the house, to prove the price with your bank and if it possible with an expert, receive the contract before the meeting and ask for help for prove it. Normally you know when you will receive the keys, when everything is done with the bank and the contract and there must to be Schlüsselübergabeprotokoll between the old and new owner. So...this is just the extra information from my side. Congratulations again. 🤗
Hi! I know the video was posted 3 years ago and I only found it just now, but I just wanted to say thanks for all this info as it's really useful. We are in the process of moving here, actually not too far from Dusseldorf, so I have found you and the tips you share at just the right time:) Thanks!
Congrats on the house. A question I have is how do you find the houses offer for sale? What is the biggest real estate agents in germany? Thanks and great tips!
In our case with the notary, prior to our appointment date the lawyer sent us the draft of all the documents for us to review. There's no need for translator.
Canadian mentality I think! 🙈 Buying is very much engrained in our Canadian minds as a milestone that is made before having kids (aka. “settling down” or having something paid off so when you pass away, your kids have something to inherit). When I first moved to Germany it took me a while to really understand why so many Germans rent, but I get it now and totally understand! For me though, I always kept my eyes open for great deals just for fun and this was a deal that I just couldn’t pass up! Will save me a lot of rental money in the long run!!!
Hello! Good one 😊. As a foreigner what are the basic requirements/documents needed for buying a house? Do need a Permanent Resident or bluecard or if anything like minimum number of years to be stayed in germany before buying a house? Your suggestions are highly appreciated! Thanks in advance Tschus!
Great video thank you! I have a question, do you know how difficult it is to move into a place if it was vermietet when you purchased it? Here in Australia it is easy, but seems it is a lot more challenging in Germany (we are moving there this year and want to purchase a place). If you have information on this process and if it’s worthwhile to look into rented properties for sale or just stick to vacant properties, that would be greatly appreciated :)
Hey there! I’d say it’s worth looking into. It’s harder, but not that hard! Depending on where you live, it can take 3-12 months to get the tenants out. I’m actually doing it at the moment (in Düsseldorf it’s 3 months, so our tenants are actually moving out next month already so we can move in). This is called “Eigenbedarfskündigung” so you’ll have to check out how long it takes in your city. This link may help: www.mietrecht.com/vermieterrecht-eigenbedarf/ 🙃🙃
great video thank for the info. If i have the money to buy outright would you get the property cheaper? also if using to renovate and use now and again what would be the steps to get it done faster? many thanks jay
there are not enough houses *of quality which dont require tens of thousands in repairs, have issues or will soon have issues* which are also in city center. Mostly apartments which typically have issues and owners are trying to dump them before they themselves have to spend 20+k in renovations. and simply using said money to either buy a house far in the outskirts, or just rent.
Well the insurance is requested by the banks in case you need a loan. In some areas of Germany it was even requested by local laws to have such an insurance not long ago. The burdens on the land are normally not given from the Bauamt but the Grundbuchamt at least in my area.
@@habi0187 ahhh good to know! Thanks! We had to head to the Bauamt for this information here in DUS. Hopefully these 8-steps at least provide a good foundation for those looking to buy 🤞🤗
@@lifeingermany_ Wohngebäudeversicherung (Fire, Water, Lightning strike, etc) Elementarschadenversicherung (Natural disasters like Flood, Landslides, Earthquake, etc.) Hausratversicherung (everything thats related to and inside the house like furniture, inventory, cloths, PC, even your bike in some cases (if not you can add it) is protected against theft, fire, water damage etc.) Inventory is never covered by the Wohngebäudeversicherung! Also an important insurance if you are renting a flat in case of fire / water damage, even if the fire started in another apartment. No other insurance will cover your damages otherwise. are the most important in this order.
About a month if I can remember correctly! They can be quicker if you use a service like LoanLink for example - just the middle men who help you find the cheapest offer. Hope that helps a bit! I’m planning on making more soon since we are officially moving in in a few months!!!
You won’t need to show the sellers any papers from your job, but the bank/loan agency where you choose to take out the mortgage will ask for specific documents to prove you’re able to pay off the loan - bank statements, etc. some might even insist you switch to their bank. That’s what we had to do.
@@rafaelecattonar1506 entirely depends on where you’re looking 🙂 east Germany in the countryside vs. City centre Munich is entirely a different ballgame!
Eins deiner Videos wurde mir auf der RU-vid Startseite empfohlen und ich fand das so interessant, dass ich jetzt erstmal alle deine Videos geschaut habe 😄 Freue mich auf weitere Videos. Hast erstmal direkt ein Abo von mir bekommen ☺️ Mach so weiter und bleib gesund 🍀
Great question Juliana! I think it always depends on the country to country qualifications. I’m not sure what country diplomas are accepted for nursing in Germany in particular. My husband for example couldn’t practice dentistry in Canada because his diploma wasn’t recognized. Some countries for some job fields require just a placement test to prove you know as much as the other nurses here, others might require you to re take the entire program, or some might accept it right away. It all depends. I’d suggest reaching out to a hospital or clinic in a location that might interest you first. Also, if you don’t speak German yet, would be good to take a year off if possible and learn the language intensively as many places will require you to have at least C1 level German! Hope this helps a bit ♥️
@Juliana Caroline Yes, nurses are needed. But on the other hand it is exactly like Jenna says!!! And really, without speaking the language You will not be accepted at least in a team. Make sure that You are on language level C, before You arrive here. Nurse job here is stressfull and fast. No time for patience, mixed up with a high social pressure. Beeing a nurse by myself I can tell You, that the system in Germany has different possibilities. You can be a nurse or a nurse for children with the completly examen. Also You can be Altenpfleger ( Senior care nurse) what could be quite easier to learn about or to get accepted. But also You would earn less money. Actually the government trys to lead both together, to take out the differences. Nurses in hospitals untill now, learned much more about medication, than the senior care nurses ( I dont know the right word in english...😃) And finally otherwise You also have that opportunity to work as a Pflegehelfer ( nurse helper, something like a caretaker...) . This job is harder than the other both. Because You really do the basics ( Grundpflege). And again earn less money. As a complete nurse You have to know about Grundpflege and Behandlungspflege! I would highly recommend to watch You Tubes about the german healthsystem and about the work as a nurse here. To speak german would be really important, If You do not want to stay on a hard and bad payed position. It also can be helpfull to understand some medical Latein language. Because all the names for the different illnesses, anatomy and biology and also some medication is in Latein . Nurses here also work mostly in a three shift system. What finally means, that You can not learn german at a school parallel to the job. But basically there are sometimes contracts between some of the countries. And You probably could check out, if so with Nigeria. This would help You to prepare and to mild down the " cultureshock".
@@DigitalDissidentwhere did you find / apply for the job? I have been looking everywhere:( (if you dont mind me asking, if you dont feel comfortable sharing that info. i understand!)
Consider that most educated europeans & especially Germans do & should speak English. Also anything done on a PC can be translated & set to english... I work in IT, you say finance so a multinational institution, for example Oddo BHF. If you have a very specialized skill apply. The hardest part then would be moving ur life to Germany. Consider that the government steals alot from you in taxes here & it can be cold for 8 months of the year...
We live in Dusseldorf as well and we are planning to buy "einfamilienhaus" in the outskirts of Dusseldorf. We came across lot of objects namely "Fertighaus" in immoscout. Can you please explain about Fertighaus. Why its cheaper compared to Massivhaus. Can we consider them or not ? Cheers from Flingern :)
Ahhh exciting news! The “Fertighäuser” you’re seeing on ImmoScout are likely just advertisements as to what COULD be built - to inspire you to contact these building companies. They usually don’t actually have a lot purchased or for sale yet, but letting you know the option is there. I have found in the last few years these Fertighäuser are often sold out FAST, I’m talking like calling the company 100 times in 15 minutes the day the sales open. The difference between a Fertighaus and a Massivhaus is simply that the Fertighaus is a set design that they build in masses. A Massivhaus can often be a bit more sturdy, likely with heavy bricks, and are not designed in a set, but usually individually perhaps by an architect. It just depends on what you’re looking for. 🙂 With the Fertighäuser, you can often make a few decisions about walls, windows, floor style, etc. before the build is complete. Whereas a Massivhaus is likely already built so you will need to reno. My family and I are in search of a Massivhaus in “renovation-required” condition. You can usually get a fairer price this way. 🙂 Hope these tips help! Let me know if you have any questions! 🥰
@@lifeingermany_ Thanks for your comprehensive reply. Most probably I might also go for Massivhaus. As houses are one time investment I don't wanna risk it by buying these prebuilt houses. Cheers again
@@knusper72 To be a bit more precise: A Fertighaus is made of prebuild walls transported to the construction site and set up by a crane. A Massivhaus is build brick by brick.
Great overview! Let me add something: Many banks or "Sparkasse"in your area also act as sales agent for houses. This gives you a good overview what the price level is in you area is. And talking about neighbours. How about a party, inviting them? I would for sure attend it, specially if a nice youtube lady has just moved in :)
I am not shure whether I should be glad, that all women are similar or sad that they are? What do I mean? 😊 My hope was, that canadian lady is different, but - dear Jenna - like every german woman also you do not close windows and terrace/balcony doors completely. Why do women always turn the handle exactly to the middle between closed and open? Why do women always "clopen" windows? Hahaha! Hey, finally I am glad that you are not too different, because I love all women! 😍
Hahaha “manchmal” würde ich sagen! Für uns war es nicht so einfach. Ich glaube ein *neues* Haus zu kaufen ist einfach.... ein altes Haus ist nicht so einfach.
@@lifeingermany_ Als meine Eltern vor über 20 Jahren ihr Haus gebaut haben ist gleich zweimal hintereinander der Bauträger pleite gegangen. Das hat bei meinen Eltern ordentlich Nerven gekostet!