Erlangen- new to the area

Member since 12 January 2019

New2eu2Member21 January 2019 15:48:44

Welcome everyone,

I would like to hear anyone's opinion on renting or buying a house or apartment in or around the Erlangen area.

Is there a "best" way to search for listings other than the big business websites? For example, a back page classifieds to avoid outrageous realtor fees?

Are there any towns to avoid moving into at the moment?

Any tips related would be helpful. I am not in the area yet though planning to be very soon. Thank you!

beppi Germany/Singapore Expert

Member since 08 August 2010

Germany & Singapore Expert

beppiGermany/Singapore Expert25 January 2019 07:34:57

15584

I don't know the Erlangen area, so the following is only general:
Engaging a realtor is of course optional, but might help if you are not familiar with the German property market, it's rules and conventions. Also, if you have a limited time to find a place, the service might be indispensable.
For rental contracts, the realtor charges the party who engaged him first (usually the landlord). For purchases, the buyer has to pay his fees (usually 7% of the price).
Properties available without realtor are often posted on Quoka and Ebay Kleinanzeigen, while realtors often advertise on Immoscout24.
Given the high cost of purchasing real estate here (around 7% of the price is due as taxes and various fees - the realtor fee not included!) and long lead time for any sale, you should only buy if you are sure you will stay there for a long time. If unsure or planning to stay less than, say, three years, renting is a better option.
Property prices here are also moving too slowly to enable short-term speculation: 3-5% yearly increases are possible only in a few, booming cities and only during good economic times (on the other hand, property prices in Germany rarely ever fall).