84% cannot afford it - buying a house or apartment is too expensive - because of the Heating Act 2024 (GEG) and the increase in interest rates

For many people, the dream of owning their own house or apartment seems to have receded into the distance. Two main reasons are responsible for this:

• the rise in interest rates and
• the new regulations for the heating law.

The new heating law, which will come into force in 2024, requires that every newly installed heating system must be powered by at least 65 percent renewable energy. This means additional costs for house and apartment owners. For example, the value of a house can decrease due to the obligation to renovate, as investments of 50,000 to 80,000 euros may be required.

Added to this is the interest rate hammer. Interest rates on building financing have risen, making it even more difficult to buy real estate. According to a survey, 84 percent of those surveyed can no longer afford their own property.

The combination of higher interest rates and additional costs caused by the new heating law is making it more difficult for many people to fulfill their dream of owning their own home.

📉 The influencing factors: Corona crisis, climate crisis, energy crisis, war in Ukraine, recession, inflation: All of these factors not only influence the everyday lives and financial possibilities of Germans, but also their emotional world. This leads to a wait-and-see behavior, especially when it comes to purchasing a home.

🔄 Waiting attitude: what's behind it?

During times of uncertainty, people tend not to make long-term financial decisions. Buying a home is just that: a long-term financial commitment. It is therefore not surprising that many Germans are adopting a wait-and-see attitude.

👻 From dream to nightmare: The situation with the old building

Older buildings often have the charm of history, but they can also have enormous energy renovation potential. The costs for an energy-efficient renovation can be high and affect the purchase decision.

🌿 Energy renovation: Why the need is increasing

In view of the climate crisis, more and more people are recognizing the need to minimize their ecological footprint. Energy-efficient renovations can drastically reduce a home's energy consumption and thus contribute to a more sustainable way of life.

📊 Advice as the key to success

The need for detailed advice on the subject of energy-efficient renovation is increasing enormously. Prospective buyers want to understand what options they have, what funding is available and how best to approach energy-saving renovation.

📣 Similar topics

1️⃣ 🏚️ Why the old building charm is deceptive
2️⃣ 🌱 Sustainability in your own home: a must?
3️⃣ 💰 Financial aid for energy renovation
4️⃣ 📉 Investments in times of crisis: yes or no?
5️⃣ 🏠 Buying a house despite the recession: risk or opportunity?
6️⃣ 🛠️ DIY energy renovation: possible or crazy?
7️⃣ 🌍 Climate crisis and the real estate market: A complex relationship
8️⃣ 🔄 Wait or act: How to decide?
9️⃣ 🧠 Psychology of buying real estate in times of crisis
🔟 📚 Sources of information for potential home buyers

#️⃣ Hashtags: #Real Estate Market #EnergyRenovation #Times of Crisis #Sustainability #FinancialInsecurity

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From the Interhyp dream home study 2023: “84 percent of those surveyed in the dream home study find the current real estate market to be narrow and difficult and see few options. The reasons given for this are: high prices, increased building interest rates, a deserted market, shortage of skilled workers, uncertainty regarding legal regulations (e.g. the impasse surrounding the Building Energy Act and the resulting costs). Only 25 percent can imagine that the current situation could create opportunities.”

🤷‍♀️ Hesitation: A social phenomenon 🤷‍♀️

The hesitant behavior in the area of ​​home purchase is not just an isolated phenomenon, but reflects a broader social phenomenon. This hesitation is currently primarily due to uncertainties resulting from the heating law and rising interest rates.

📜 Laws and Regulations 📜

The government plays a large role in shaping the heating and energy market. Laws such as the Building Energy Act can deter potential buyers as they often find themselves in a gray area between different requirements and funding options.

💸 The fear of interest rates 💸

The rise in interest rates is also a major factor unsettling potential homebuyers. Higher interest rates mean higher monthly payments, which makes the dream of owning a home less attainable for many.

🌞 Renewable energies and heating construction 🌞

Renewable energies such as solar systems and modern heating systems such as heat pumps could offer a solution. However, these technologies are often expensive to purchase and without clear government support many people hesitate.

🤝 Why professional advice is essential 🤝

Professional advice can be worth its weight in gold in this situation. It can help navigate the different options, identify funding opportunities and make an informed decision.

📣 Similar topics

• 🔥 How do rising interest rates affect the real estate market? 🔥
• 🌞 Solar systems: an investment in the future? 🌞
• 🏡 Owning your own home vs. renting: Which makes more sense in the long term? 🏡
• 💡 Energy saving measures for your home 💡
• 📈 Real estate as an investment 📈
• 🤑 Funding opportunities for renewable energies 🤑
• 🛠️ DIY (Do It Yourself) vs. Professional: Who builds the better heater? 🛠️
• 💰 The costs and benefits of heat pumps 💰
• 🌍 Climate change and its impact on real estate prices 🌍
•  📊 Market trends in the field of renewable energy 📊

#️⃣ Hashtags: #Home #RenewableEnergy #Interest #Heizungsbau #Real Estate Market

Why the dream is getting smaller: The current tense economic and geopolitical situation is clearly having an impact on people's housing dreams. A detached single-family home may be the ideal dream home for many, but in reality such dreams are pushed into the background due to uncertainty. People have become more pragmatic and smaller, more modest solutions are becoming more important.

📉 The numbers speak volumes

At 53 percent, a detached single-family home is still the most popular wish. But it is interesting to see how the value has fallen compared to previous years. Smaller, more modest solutions such as terraced houses and tiny houses are seeing a slight increase, indicating a paradigm shift.

Dream of a detached single-family home

• 2023: 53 %
• 2022: 64 %
• 2021: 65 %
• 2019: 63 %

🏘 Small but mighty: The rise of the tiny house

Tiny houses are not only a fashionable appearance, but also a conscious decision for a more sustainable lifestyle. They offer the basics of living in a much smaller space and are often cheaper to buy and maintain.

📚 What does the expert say?

Mirjam Mohr (CEO of Interhyp AG) states that “people dream smaller.” And that is not necessarily negative. It just goes to show that people are adaptable and willing to adjust their desires to suit current circumstances.

🤝 Living together: terraced houses as a compromise

Townhomes are a middle ground for those who want a bit more space without breaking the bank. The increasing popularity of this type of living shows that people dream of being smaller, but don't necessarily want to lose quality of life.

📊🏡 Living dream study 2023 📆🔍

You take what you get: In the current dream home study, there is generally a strong decline in the relevance compared to the previous year for “size and living space” (81 percent, -13 percentage points compared to 2022) and “room layout” (83 percent, -12 percentage points compared to 2022 ) visible. Mirjam Mohr adds: “These developments are also visible in our Interhyp figures: While the average living space for houses was 165 square meters in the first quarter of 2022, it is 153 square meters in the third quarter of 2023.”

Source: press release

📣 Similar topics

1️⃣ 🏡 Why the single-family home is still a dream
2️⃣ 📉 Why Germans dream smaller
3️⃣ 🌍 Sustainability and the rise of the tiny house
4️⃣ 👨‍👩‍👧 Families and their changing living dreams
5️⃣ 🤝 Why terraced houses are the new middle
6️ ⃣ 🏙 Living in the City vs. Country: Which is Better?
7️⃣ 🧠 Psychology of living dreams
8️⃣ 💰 How the financial market influences our living dreams
9️⃣ 🛠 Do-it-yourself: Build your own tiny house
🔟 🏠 From villa to apartment: A timeline of living dreams

#️⃣ Hashtags: #Living Dreams #TinyHouse #Single Family House #Terraced House #LivingTrends

The real estate market is known for its volatility and uncertainties, but in every market there are always opportunities that are often overlooked. Let’s dive deep and explore both the challenges and opportunities presented by the current real estate market.

🚧 Challenges in the current real estate market 🚧

1. High prices

The real estate market has increased significantly in recent years, making it difficult for many people to find affordable homes.

2. Increased building interest rates

As interest rates rise, monthly payments also become higher.

3. Empty market

Demand exceeds supply, resulting in an empty market.

4. Skilled labor shortage

This delays the construction of new properties.

5. Uncertainty regarding legal regulations

New laws such as the Building Energy Act can lead to increased costs.

🎯 Opportunities in the supposedly difficult real estate market 🎯

1. More time for research

Since there are more offers, interested parties have the opportunity to do more detailed research.

2. Negotiable prices

During high interest rates, prices are often negotiable, which was not the case before.

3. Redevelopment potential

Older properties that are less energy efficient can often be purchased more cheaply and then renovated.

💡 Expert Tips 💡

In order to be successful in this complex environment, it is advisable to draw up a clear recovery plan. Take the costs involved into account when negotiating the purchase price.

📣 Similar topics

• 🏡 Buying real estate in the high interest rate phase: What you need to know
• 💡 Expert advice: How to be successful in the current real estate market
• 🚀 Recognize and take advantage of opportunities in the real estate market
• 📊 Market analysis: How the real estate market has changed
• 🛠️ DIY renovation: saving tips for your property
• 💼 Shortage of skilled workers in the construction sector: effects and solutions
• 📝 Legal regulations in the real estate sector: An overview
• 💰 How you can finance a property despite high prices
• 🏢 Investing in commercial real estate: opportunities and risks
• 🤝 How to Negotiate in the Real Estate Market: A Guide

#️⃣ Hashtags: #Real Estate Market #OpportunitiesInMarket #Challenges #Expert Council #Renovation Potential

The reality is that the real estate market presents both challenges and opportunities. By staying informed and being strategic, you can take advantage of opportunities that many others miss.

Many people see unrenovated existing properties as a real nightmare. No wonder, given the lack of clarity surrounding the Building Energy Act (GEG) and the energy policy framework. But as always in life: where there are risks, there are also opportunities.

🌡️ Why is there so much uncertainty? 🌡️

1. Unclear funding opportunities

The government has so far failed to provide clear information to promote energy efficiency measures.

2. Hesitant politics

The impasse surrounding the GEG has unsettled many potential property buyers.

3. High modernization costs

The fear of high costs for renovation scares many people away.

🎯 Opportunities in unrenovated existing properties 🎯

1. Lower purchase price

These properties are often cheaper, which offers a higher basis for negotiation.

2. Government funding

There are still funding opportunities, you just have to know about them.

3. Personalization

You have the freedom to design the property according to your own ideas.

🛠️ Solutions to uncertainties 🛠️

1. Get informed

Gain knowledge of current legal regulations.

2. Get specialist advice

Experts can shed light on the issue and provide specific advice.

3. Calculate realistically

A comprehensive financial plan can help to better estimate the actual costs.

📣 Similar topics

• 🏡 Why unrenovated properties are worth considering
• 💡 Laws and funding: What you need to know
• 🌿 Energy Efficiency: A Guide for Home Buyers
• 💸 How you can save on modernization
• 🛠️ DIY vs. professional: Which is better when renovating
• 📚 Education is power: How to overcome insecurities
• 🤔 Should I buy or not? Pros and cons of unrenovated properties
• 💼 Expert advice: What experts say about buying real estate
• 📈 Trends in the real estate market: What you should pay attention to
• 🌐 Global vs. Local: How the real estate market is changing

#️⃣ Hashtags: #energy efficiency #real estate market #uncertainty #modernization #specialist advice

It is true that the current state of the real estate market, especially in the area of ​​energy efficiency, presents many uncertainties. But by staying informed, you can both minimize the risks and take advantage of the opportunities that exist in this complex market.

🤝 Trust is good, expertise is better 🤝

Yes, a tip from your best friend or cousin can sometimes be worth its weight in gold. But this is probably the biggest financial step of your life! So why stop halfway?

💼 Why use professionals? 💼

1. Expertise

Professionals know the market and can assess current trends and prices.

2. Bargaining power

They can get you better terms than you could on your own.

3. Tailor-made solutions

Every case is different, and professionals can give you specific advice.

🕵️‍♀️ Research is just the beginning 🕵️‍♀️

Sure, you can find out a lot with Google. But you know: not everything that's on the internet is true.

🧐 When is the best time for professional advice? 🧐

1. Early planning

The earlier the better! Don't wait until it comes to concrete financing.

2. During the object search

A professional can help you correctly assess the value of a property.

3. After purchase

Even then, professionals can offer valuable support, for example with renovations or the optimal use of funding.

📝 The checklist for consultation 📝

1. Qualification

Pay attention to the qualifications of the advisor.

2. Transparency

Openness about prices and services is a must.

3. Recommendations

Check out reviews and testimonials.

📣 Similar topics

• 🏠 What you need to know before buying real estate
• 💰 Financing tips for buying real estate
• 🤔 Should I buy or rent? Pro Contra
• 📑 What documents do I need to purchase real estate?
• 🛠️ Tips for renovating your new property
• 💡 How do I find the right broker?
• 🎯 Target group analysis: Which property is right for me?
• 🧠 Psychology when buying real estate: traps & tips
• 🏡 Is it worth buying an old building apartment?
• 📊 Investing in real estate: opportunities and risks

#️⃣ Hashtags: #real estate purchase #professional advice #financing #real estate market #home

Advice from real estate professionals is so important because it can save you from making big mistakes. You wouldn't try to repair your car yourself if you didn't know anything about it, would you? So, rely on expertise and experience when it comes to a huge financial decision like buying a property.

☑️ Expert advice on energy-efficient renovation and new construction

☑️ with solar solutions and heat pumps/air conditioning systems

Konrad Wolfenstein

I would be happy to serve as your personal advisor.

You can contact me by filling out the contact form below or simply call me on +49 157 30 44 9 555 .

I'm looking forward to our joint project.

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