Has anyone ever purchased a vaction home in Germany?

Question

If so, please tell me about the process, financing etc. Things to look out for or problems you've run in to. I live in the US and I'm looking for a small apartment or flat near Garmisch.

Answer 1

No, but you can purchase one in Portugal!

http://experienceportugal.blogspot.com/

Answer 2

I did, but I'm a EU passport holder and I got the financing from a German bank which I direct deposit my salary every month. The process is the same like here, you go get an agent, look at the flats, made an offer, and pay the mortgage. Once you own it, you pay the property tax. I'm sure you can do it without an agent but I preferred to have someone to take care of stuff and usually you pay commission about 3% plus VAT.

Since I was paying German taxes, I got pretty large tax break from the Finanzamt (German IRS).

I'm assuming you already own a property in the US, check if your current lender would loan you the money to buy vacation home abroad. My bank in the US informed me they would lgive me loan if I were about to buy a property, say, even in China. However I wouldn't get as much as when I buy the property in the US.

No, I didn't have problems with the neighbours. I guess it's just about luck, who you're neighbouring with. The taxes will be different if you rent the condo out (like I do now), but if it's empty it's nobody's business to mind your property. Although you might need someone to check your property from time to time for possible freezing pipes or whatever. Usually it's the janitor of the building who we call Hausmeister. There's a fee for that like HOA.