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

The dream of owning a house or apartment seems to have faded into the distance for many. 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 comes into effect in 2024, requires that every newly installed heating system be powered by at least 65 percent renewable energy. This means additional costs for homeowners and apartment owners. For example, the value of a house can decrease due to the renovation requirement, as investments of €50,000 to €80,000 may be necessary.

Adding to the pressure is the rising interest rates. Mortgage rates have increased, making home purchases even more difficult. According to a survey, 84 percent of respondents can no longer afford to buy their own property.

The combination of higher interest rates and additional costs due to the new heating law makes it more difficult for many to fulfill their dream of owning their own home.

📉 The influencing factors: Corona crisis, climate crisis, energy crisis, war in Ukraine, recession, inflation: All these factors affect not only the daily lives and financial resources of Germans, but also their emotional state. This leads to a wait-and-see attitude, especially regarding homeownership.

🔄 A wait-and-see attitude: What's behind it?

In times of uncertainty, people tend to avoid making long-term financial decisions. Buying a house is precisely that: a long-term financial commitment. Therefore, it's not surprising that many Germans are adopting a wait-and-see approach.

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

Older buildings often possess historical charm, but they can also offer enormous potential for energy-efficient renovation. The costs of such renovations can be high and may influence a buyer's decision.

🌿 Energy-efficient renovation: Why the demand is increasing

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

📊 Consulting as the key to success

The demand for detailed advice on energy-efficient renovations is increasing enormously. Prospective buyers want to understand what options are available to them, what subsidies can be obtained, and how best to approach energy-efficient renovations.

📣 Similar topics

1️⃣ 🏚️ Why the charm of old buildings can be deceptive
2️⃣ 🌱 Sustainability in your own home: A must?
3️⃣ 💰 Financial assistance for energy-efficient renovations
4️⃣ 📉 Investments in times of crisis: Yes or no?
5️⃣ 🏠 Buying a house despite a recession: Risk or opportunity?
6️⃣ 🛠️ DIY energy-efficient renovations: Possible or madness?
7️⃣ 🌍 Climate crisis and the real estate market: A complex relationship
8️⃣ 🔄 Wait and see or act: How to decide?
9️⃣ 🧠 The psychology of buying real estate in times of crisis
🔟 📚 Information sources for potential homebuyers

#️⃣ Hashtags: #RealEstateMarket #EnergyEfficientRenovation #CrisisTimes #Sustainability #FinancialUncertainty

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From the Interhyp Home Dream Study 2023: “84 percent of respondents in the Home Dream Study perceive the current real estate market as tight and difficult and see few opportunities. The reasons given for this are: high prices, increased mortgage interest rates, a completely depleted market, a shortage of skilled workers, and uncertainty regarding legal regulations (e.g., the ongoing uncertainty surrounding the Building Energy Act and the resulting costs). Only 25 percent can imagine that the current situation could also present opportunities.”

🤷‍♀️ Hesitation: A social phenomenon 🤷‍♀️

The reluctance to purchase a home is not an isolated phenomenon, but reflects a broader societal trend. This hesitancy is currently primarily due to uncertainties stemming from the heating law and rising interest rates.

📜 Laws and regulations 📜

The government plays a major role in shaping the heating and energy market. Laws such as the Building Energy Act can deter potential buyers, as they often exist in a gray area between different requirements and funding opportunities.

💸 The fear of interest rates 💸

Rising interest rates are also a major factor unsettling potential homebuyers. Higher interest rates mean higher monthly payments, making the dream of homeownership less attainable for many.

🌞 Renewable energies and heating system construction 🌞

Renewable energy sources such as solar panels and modern heating systems like heat pumps could offer a solution. However, these technologies are often expensive to purchase, and without clear government subsidies, many people hesitate to invest.

🤝 Why professional advice is essential 🤝

Professional advice can be invaluable in this situation. It can help navigate the various options, identify funding opportunities, and make an informed decision.

📣 Similar topics

• 🔥 How do rising interest rates affect the real estate market? 🔥
• 🌞 Solar panels: An investment in the future? 🌞
• 🏡 Homeownership vs. renting: Which makes more sense in the long run? 🏡
• 💡 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 heating system? 🛠️
• 💰 The costs and benefits of heat pumps 💰
• 🌍 Climate change and its impact on property prices 🌍
•  📊 Market trends in the field of renewable energies 📊

#️⃣ Hashtags: #Homeownership #RenewableEnergy #InterestRates #HeatingInstallation #RealEstateMarket

Why the dream is shrinking: The current tense economic and geopolitical situation is clearly affecting people's housing aspirations. While a detached single-family home may be the ideal dream for many, in reality, such dreams are fading into the background due to the uncertainty. People have become more pragmatic, and smaller, more modest solutions are gaining in importance.

📉 The numbers speak volumes

At 53 percent, the detached single-family home remains the most popular choice. However, it's interesting to note how this figure has declined compared to previous years. Smaller, more modest solutions like terraced houses and tiny houses are experiencing a slight increase, suggesting a paradigm shift.

Dream of a detached single-family home

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

🏘 Small but perfectly formed: The rise of the tiny house

Tiny houses are not just a trendy trend, but also a conscious choice 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 (board member of Interhyp AG) observes that “people are dreaming smaller.” And that’s not necessarily a bad thing. It simply shows that people are adaptable and willing to adjust their desires to current circumstances.

🤝 Living together: terraced houses as a compromise

Terraced houses are a middle ground for those who want a little more space without breaking the bank. The increasing popularity of this type of housing shows that while people dream of living smaller, they don't necessarily want to sacrifice their quality of life.

📊🏡 Dream Home Study 2023 📆🔍

You take what you can get: The current housing dream study shows a significant decline in 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). Mirjam Mohr adds: "These trends are also reflected in our Interhyp figures: While the average living space for houses was 165 square meters in the first quarter of 2022, it was 153 square meters in the third quarter of 2023."

Source: Press release

📣 Similar topics

1️⃣ 🏡 Why the detached house is still a dream
2️⃣ 📉 Why Germans are dreaming smaller
3️⃣ 🌍 Sustainability and the rise of the tiny house
4️⃣ 👨‍👩‍👧 Families and their changing housing dreams
5️⃣ 🤝 Why terraced houses are the new middle ground
6️⃣ 🏙 City vs. country life: Which is better?
7️⃣ 🧠 The psychology of housing dreams
8️⃣ 💰 How the financial market influences our housing dreams
9️⃣ 🛠 Do-it-yourself: Build your own tiny house
🔟 🏠 From villa to apartment: A timeline of housing dreams

#️⃣ Hashtags: #DreamHomes #TinyHouse #DetachedHouse #TerracedHouse #HomeTrends

The real estate market is known for its volatility and uncertainty, but every market presents opportunities that are often overlooked. Let's delve deeper and explore both the challenges and opportunities that the current real estate market offers.

🚧 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 mortgage rates

As interest rates rise, monthly payments will also increase.

3. Empty Market

Demand exceeds supply, leading to an empty market.

4. Skilled worker 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 available, interested parties have the opportunity to conduct more detailed research.

2. Negotiable prices

In times of high interest rates, prices are often negotiable, which was not the case before.

3. Renovation potential

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

💡 Expert tips 💡

To succeed in this complex environment, it is advisable to develop a clear restructuring plan. Factor the associated costs into your purchase price negotiations.

📣 Similar topics

• 🏡 Buying property in a high-interest-rate environment: What you need to know
• 💡 Expert advice: How to succeed in the current real estate market
• 🚀 Identify and seize opportunities in the real estate market
• 📊 Market analysis: How the real estate market has changed
• 🛠️ DIY renovation: Money-saving tips for your property
• 💼 Skilled labor shortage in the construction sector: Impacts and solutions
• 📝 Legal regulations in the real estate sector: An overview
• 💰 How to 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: #RealEstateMarket #MarketOpportunities #Challenges #ExpertAdvice #RenovationPotential

The reality is that the real estate market presents both challenges and opportunities. By staying informed and acting strategically, you can seize the opportunities that many others overlook.

Many people view unrenovated existing buildings as a real bogeyman. No wonder, given the uncertainties 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 on promoting energy-efficient measures.

2. Hesitant policy

The ongoing uncertainty surrounding the GEG (Building Energy Act) has unsettled many potential property buyers.

3. High modernization costs

The fear of high renovation costs deters many.

🎯 Opportunities in unrenovated existing properties 🎯

1. Lower purchase price

These properties are often cheaper, which offers a better negotiating position.

2. Government funding

There are still funding opportunities available; you just need to know about them.

3. Personal Design

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

🛠️ Solutions for uncertainties 🛠️

1. Get informed

Acquire knowledge about current legal regulations.

2. Seek expert advice

Experts can shed light on the matter and give specific advice.

3. Calculate realistically

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

📣 Similar topics

• 🏡 Why unrenovated properties are still worth considering
• 💡 Laws and subsidies: What you need to know
• 🌿 Energy efficiency: A guide for homebuyers
• 💸 How you can save money during modernization
• 🛠️ DIY vs. Professional: What's better for renovations
• 📚 Education is power: How to overcome insecurities
• 🤔 Should I buy or not? Pros and cons of unrenovated properties
• 💼 Expert advice: What professionals 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: #EnergyEfficiency #RealEstateMarket #Uncertainty #Modernization #ExpertAdvice

It is true that the current state of the real estate market, particularly regarding energy efficiency, presents many uncertainties. However, by staying informed, you can minimize the risks and seize the opportunities that this complex market offers.

🤝 Trust is good, expertise is better 🤝

Yes, advice from your best friend or cousin can sometimes be invaluable. But this is about what will probably be the biggest financial step of your life! So why stop halfway?

💼 Why hire professionals? 💼

1. Expertise

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

2. Negotiating 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.

🕵️‍♀️ The research is just the beginning 🕵️‍♀️

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

🧐 When is the best time for professional advice? 🧐

1. Early planning

The sooner, the better! Don't wait until it comes to the actual financing.

2. During the object search

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

3. After the purchase

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

📝 The checklist for the consultation 📝

1st Qualification

Pay attention to the consultant's qualifications.

2. Transparency

Transparency regarding 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? Pros & Cons
• 📑 What documents do I need to buy a property?
• 🛠️ Tips for renovating your new property
• 💡 How do I find the right real estate agent?
• 🎯 Target group analysis: Which property suits me?
• 🧠 Psychology of buying real estate: Pitfalls & tips
• 🏡 Is it worth buying an apartment in an older building?
• 📊 Investing in real estate: Opportunities and risks

#️⃣ Hashtags: #PropertyBuying #ProfessionalAdvice #Financing #RealEstateMarket #HomeOwnership

Consulting with 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 what you were doing, would you? So, trust expertise and experience when it comes to such a huge financial decision as 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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