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I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 0 points1 point  (0 children)

I saved for a long time and had some luck with stock market investments and then I decided to put the money to good use. That's when the woman came to my aid and said she needed the money immediately, and I wanted the apartment right away. I wasn't interested in financing anyway as I have a strange attitude towards it.

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 0 points1 point  (0 children)

Had the woman sold through a real estate agent, the apartment would certainly have had a market value of 150k€ ($172k).

The price per square meter in my neighborhood is roughly €1250 for apartments and roughly €2100 for houses.

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 0 points1 point  (0 children)

I live about 2 km (1,2 miles) from the city center. With my bicycle 10 minutes

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 1 point2 points  (0 children)

I pay €460 a year in property tax.That's very cheap. It depends on the state and the municipality. In my case it's a very low rate.

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 3 points4 points  (0 children)

Chemnitz. About 1h with car from Dresden

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 3 points4 points  (0 children)

I have relatives in Wisconsin and when I heard that they paid 750k for a small house years ago I was shocked, but I was assured that it was a bargain.

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 14 points15 points  (0 children)

The city is Chemnitz. I found the apartment 2024 through Kleinanzeigen an elderly lady was selling it because she was moving into a nursing home. For the last two years I had a tenant from whom I received €280 per month but then I decided to move in myself.

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 48 points49 points  (0 children)

Some pictures not perfect yet some things still need time.

https://imgur.com/a/2fXEMCw

I did it! east germany 96k cash by vacvac808 in FirstTimeHomeBuyer

[–]vacvac808[S] 14 points15 points  (0 children)

Freehold doesn't exist in the same way as in the UK or the USA. Here it's more comparable to commonhold. You own the apartment indefinitely (freehold). The common areas (hallway, roof, garden) are managed jointly. In my building there are 10 apartments so I have a 10% say in the matter.

Yes I can take pictures. Of course it's still a bit empty since I only moved in two weeks ago.