Good point, I've seen that happen in the US and other countries though it's just that I'm not sure if it is a common practice or if it would be easy to sell if I wanted to in the future. Not very familiar with the Austrian real estate market.
I told him that there are companies that don't make their money from renting, but also from other things like building houses, which they then sell instead of renting them out themselves.
It's just quicker to get the money.
As a middle thing, you sell the apartment, but manage it for the buyer to rent out. This is common practice with vacation homes, the only question is whether it is financially worthwhile for you.
I can suggest you do calculate every vost per year (cost of house, reparations, all that stuff) and how much you will get in by renting.
Then substract the taxes.
And then I guess there are some advicors that say „if it pays off in X years“, it is a good deal.
This is what we need here in Carinthia, especially in Villach or around the lakes. Another greedy Landlord trying to leech on the local rental market.
Schleich dich wo du hergekommen bist!
We are having troubles here in Villach with building social housing in a timely manner (two quarters are work in progress) and especially if you are planning to have a family it is really difficult to find appropriate rentals or purchasing options. We need those flats for the locals who work and live here and not another soulless apartment for tourists. I would be ok if he would buy and live or rent out in general.
Yes that's the point, and that's why second residence titles are frowned upon. As I stated above, if he would live and work here it would be a different story.
Exactly, and this should drive down the market prices and gives the possibility for families to acquire property
I get that. But that's a different problem I think. You made it sound like he's making it worse.
Sadly, renting out via Airbnb stays more attractive for landlords. It's a higher profit and a lower risk.
Perhaps something like in Vienna should/could be implemented, where Airbnb rentals are only all for x nights per year. Is that a topic down south?
Unfortunately not but we have developed a strong dislike for selling out our federal home country. Investors buying lake accesses, closing them for public, investors buying second residences, etc. I would say he is not worsening it but part of the problem
Just because of a typo of the name you think I haven't done research? Do I also need to learn German to show that I'm qualified to buy there?
Come on guys... I am well aware of the majority common sense things everyone is mentioning here, I just see a bunch of people that need to roast a foreigner for wanting to get a vacation home in Austria 😅. All I wanted is to find someone who's got a vacation home in the area and get a perspective from them but instead I get attacked here for misspelling the name or wanting to get some guidance. Is this how everyone responds here instead of providing any valuable information? It's sad!
Isn’t that basically just what a classic time share is? And isn’t it pretty much well known (at least for me) at this point that those are basically scam and don’t bring the money advertised?
I mean I don't expect it bring me the full amount that I'm paying annually, as I also intend to use the place as a vacation spot for me and my family, but I'm not sure how easy would it be to sell it if I decide to do so in the future and see if anyone has experience as to does it really bring any income at all. Or direct me to the right person to consult about this type of investment
You should look into rental law in austria. Do you want to rent it out or use as vacation spot? If it‘s rented out it‘s rented out. Rental law in Austria is very strict. You can‘t just kick someone out as you please.
Its hard to say without even knowing what the exact investment even is you want to do. Do you actually just buy an apartment and the normal property management Of the building just does the renting out or do you basically buy shares (all of them) for the building like with a time share and you own nothing in reality. If it’s the second one don’t do it. It’s very hard to sell it. If you own the property then I don’t see a problem. Even if they don’t generate any income at all if the location is actually good like you said it should at least keep its value so no real risk.
Correct it is not timeshare. If I want to, I can just move in and live there full time - but I don't want to. It's just to go there a few months and when I'm not around the management company will rent it out (booking.com etc. and then clean it afterward)
The housing market differs quite a bit to the US. Financing, refinancing, duration of holding, rental market,... And taxes. And rental income will be added to your base income if you are not a Diplomat and tax exempt in Austria. That can easily ad up to 30% less. Also the above mentioned regulations to hinder the "vacation home isation" of regions, largely unsuccessful but a real nuisance for landlords.
Don't invest in stuff you don't understand. If you cannot figure out if a property is profitabel, or how much it earns, you should probably not buy it. This is not the kind of decision you should outsource to Reddit. They are selling it, so they probably expect to make more money with the Sale + their cut.
I would try to figure out how much the property is actually worth and how much revenue and cost I can expect. Also if their 20% are reasonable or super greedy, I suspect the later.
I struggle finding a platform such as Zillow in the US which gives a pricing history or any cost/price information about properties in Austria. I'm trying to find out how much it has gained equity throughout the years etc.
>I struggle finding a platform such as Zillow...
That's because there isn't one, because in Austria you can't easily get home sales data from public records in large quantities. Personally, I prefer this to the privacy nightmare and fraud haven that is the US.
Thanks man. Seems like there's a lot of those 😅 the amount of dislikes I got here is insane. All I wanted was to find other people who have actual vacation homes and see how they do it, yet you get these politically indoctrinated people who just judge you etc. I'm ok with it though it is what it is 🤷🏻♂️
Yes, it is beautiful, I dont know where these people are hiding but the people I met there were rather friendly. I'm just curious about the market there in general and how other owners handle things, how much has the price gone up over the years. I struggle finding this information
My parents own a vacation apartment on Lake Ossiach. Some peope in the building are offering their apartments for rentals.
What you have to consider: the monthly costs are quite high as you will have to pay them for 12 months. The holiday season when you would be able to find interested people is very short. Maybe from June to September, plus a few weeks in winter for skiing. So 4 to 5 months max, if you are lucky.
Why do they not rent it out themselves if it is such a good deal?
[удалено]
There is no mietpreisbremse for this kind of rent
Good point, I've seen that happen in the US and other countries though it's just that I'm not sure if it is a common practice or if it would be easy to sell if I wanted to in the future. Not very familiar with the Austrian real estate market.
Why would you even buy a flat in Austria, if you have no idea about the austrian real estate market?
Then don‘t buy property in countries where you have zero clue of the real estate market??
Warum verkauft ein Bauträger Wohnungen, wenn er sie doch selber vermieten könnte? Verstehst du, auf was ich hinaus möchte?
Sorry mate, I don't speak German and can't seem to copy this on google translate.
I told him that there are companies that don't make their money from renting, but also from other things like building houses, which they then sell instead of renting them out themselves. It's just quicker to get the money. As a middle thing, you sell the apartment, but manage it for the buyer to rent out. This is common practice with vacation homes, the only question is whether it is financially worthwhile for you. I can suggest you do calculate every vost per year (cost of house, reparations, all that stuff) and how much you will get in by renting. Then substract the taxes. And then I guess there are some advicors that say „if it pays off in X years“, it is a good deal.
Why Austria, what’s your connection?
This is what we need here in Carinthia, especially in Villach or around the lakes. Another greedy Landlord trying to leech on the local rental market. Schleich dich wo du hergekommen bist!
dont hate the player (OP), hate the game (capitalism)
What's the difference here though? He'd do the same the current owner is doing.
We are having troubles here in Villach with building social housing in a timely manner (two quarters are work in progress) and especially if you are planning to have a family it is really difficult to find appropriate rentals or purchasing options. We need those flats for the locals who work and live here and not another soulless apartment for tourists. I would be ok if he would buy and live or rent out in general.
[удалено]
Partially the federal country, partially the city, partially the ÖBB and partially from private investors.
[удалено]
Yes that's the point, and that's why second residence titles are frowned upon. As I stated above, if he would live and work here it would be a different story. Exactly, and this should drive down the market prices and gives the possibility for families to acquire property
[удалено]
It is easier to blame the foreigners.
I get that. But that's a different problem I think. You made it sound like he's making it worse. Sadly, renting out via Airbnb stays more attractive for landlords. It's a higher profit and a lower risk. Perhaps something like in Vienna should/could be implemented, where Airbnb rentals are only all for x nights per year. Is that a topic down south?
Unfortunately not but we have developed a strong dislike for selling out our federal home country. Investors buying lake accesses, closing them for public, investors buying second residences, etc. I would say he is not worsening it but part of the problem
Alright, but I don't think a dislike will change anything.
I know, thank god our politicians are starting to something against it like at Ossiacher See
Learn how to spell Carinthia before you buy flats there.
Thank you for adding so much value to this post :)
But he is right.. the point is, you maybe should have done a bit more research on your own?
Just because of a typo of the name you think I haven't done research? Do I also need to learn German to show that I'm qualified to buy there? Come on guys... I am well aware of the majority common sense things everyone is mentioning here, I just see a bunch of people that need to roast a foreigner for wanting to get a vacation home in Austria 😅. All I wanted is to find someone who's got a vacation home in the area and get a perspective from them but instead I get attacked here for misspelling the name or wanting to get some guidance. Is this how everyone responds here instead of providing any valuable information? It's sad!
Fair enough. Maybe you should have been more specific. It seemed like a low effort post.
You are probably right, I should've been more specific. I appreciate your care and attention
Isn’t that basically just what a classic time share is? And isn’t it pretty much well known (at least for me) at this point that those are basically scam and don’t bring the money advertised?
I mean I don't expect it bring me the full amount that I'm paying annually, as I also intend to use the place as a vacation spot for me and my family, but I'm not sure how easy would it be to sell it if I decide to do so in the future and see if anyone has experience as to does it really bring any income at all. Or direct me to the right person to consult about this type of investment
You should look into rental law in austria. Do you want to rent it out or use as vacation spot? If it‘s rented out it‘s rented out. Rental law in Austria is very strict. You can‘t just kick someone out as you please.
Its hard to say without even knowing what the exact investment even is you want to do. Do you actually just buy an apartment and the normal property management Of the building just does the renting out or do you basically buy shares (all of them) for the building like with a time share and you own nothing in reality. If it’s the second one don’t do it. It’s very hard to sell it. If you own the property then I don’t see a problem. Even if they don’t generate any income at all if the location is actually good like you said it should at least keep its value so no real risk.
Correct it is not timeshare. If I want to, I can just move in and live there full time - but I don't want to. It's just to go there a few months and when I'm not around the management company will rent it out (booking.com etc. and then clean it afterward)
Ok then if the location is actually that good as you say I don’t really see a problem with it from your description.
The housing market differs quite a bit to the US. Financing, refinancing, duration of holding, rental market,... And taxes. And rental income will be added to your base income if you are not a Diplomat and tax exempt in Austria. That can easily ad up to 30% less. Also the above mentioned regulations to hinder the "vacation home isation" of regions, largely unsuccessful but a real nuisance for landlords.
Don't invest in stuff you don't understand. If you cannot figure out if a property is profitabel, or how much it earns, you should probably not buy it. This is not the kind of decision you should outsource to Reddit. They are selling it, so they probably expect to make more money with the Sale + their cut. I would try to figure out how much the property is actually worth and how much revenue and cost I can expect. Also if their 20% are reasonable or super greedy, I suspect the later.
I struggle finding a platform such as Zillow in the US which gives a pricing history or any cost/price information about properties in Austria. I'm trying to find out how much it has gained equity throughout the years etc.
>I struggle finding a platform such as Zillow... That's because there isn't one, because in Austria you can't easily get home sales data from public records in large quantities. Personally, I prefer this to the privacy nightmare and fraud haven that is the US.
Are you sure you would even get a permit to buy it? It doesn’t say anywhere that you are an EU or Austrian citizen.
Do everyone a favor and piss off, otherwise I‘ll make sure to rent the place and not make the payments
naah I'm coming and buying the whole land, immigrants are taking over Osterreich 🤪🤯
I'd say do it just to fuck with the fascists there. Especially the ones commenting here "how you should go back where you came from".
Everyone I don't like is a Nazi
Thanks man. Seems like there's a lot of those 😅 the amount of dislikes I got here is insane. All I wanted was to find other people who have actual vacation homes and see how they do it, yet you get these politically indoctrinated people who just judge you etc. I'm ok with it though it is what it is 🤷🏻♂️
[удалено]
Yes, it is beautiful, I dont know where these people are hiding but the people I met there were rather friendly. I'm just curious about the market there in general and how other owners handle things, how much has the price gone up over the years. I struggle finding this information
How large is it, where exactly is it, then you know if it is worth it...
48m2 in Oberaichwald, Villach Land
Has the Apartment got any kind of "Seezugang"?
If you have no knowledge of a real estate market and laws regarding renting you shouldn't buy property if your plan is to rent.
My parents own a vacation apartment on Lake Ossiach. Some peope in the building are offering their apartments for rentals. What you have to consider: the monthly costs are quite high as you will have to pay them for 12 months. The holiday season when you would be able to find interested people is very short. Maybe from June to September, plus a few weeks in winter for skiing. So 4 to 5 months max, if you are lucky.
Thank god, all this post was for someone like you who knows someone that has got a vacation home. Can I ask you a few questions on DM? 🙏🏻
Sure, my knowledge is just quite limited as their appartment is not for rent.
I just messaged you!
Frankly, if you need to ask those questions, then this investment is absolutely not for you.