“Why not buy in two or three years' time?”
This was the advice the heart surgeon received from his own bank.
Information
For many families this would have been understandable.
For him, however, it was not.
He had just signed a permanent contract at a university hospital in Germany. Together with his wife and their two children he wanted to move to Germany for good.
Renting was out of the question for the family.
They wanted to arrive.
Not only professionally.
Privately too.
The right home
After several weeks they found a detached house in the Heidelberg area.
The location was a perfect fit.
The hospital was twenty minutes away.
Nursery and school were in the immediate vicinity.
The key figures:
- Purchase price: 698,000 euros
- Equity: 248,000 euros
- Financing required: 500,000 euros
The monthly instalment was easily affordable.
Even so, the first bank recommended living in Germany for a few years first.
Why?
It was not the income that caused concern.
Nor the property.
The bank was rather asking itself:
Is the family in Germany permanently?
Does the job continue?
How does the income develop once all qualifications are recognised?
Are all approvals already completed?
For international physicians these questions are often part of everyday life.
The economic situation
On close examination almost everything pointed to the financing.
The employment contract was permanent.
The wife was to take up her work a few months later as well.
Sufficient equity was available.
In addition, the family had further liquid reserves.
Even under a cautious calculation, the household budget showed clear surpluses.
The decisive preparation
Together, the entire professional situation was presented.
Not only the employment contract.
But also:
- the medical licence (Approbation)
- recognition notices
- the start date
- income development
- equity
- proof of assets
- family planning
This produced a complete overall picture for the first time.
The financing
After the review was completed, the financing commitment followed.
Just a few weeks later the family signed the purchase contract.
Today they live in Germany permanently.
The children now speak fluent German.
For the family, buying the house was far more than a property decision.
It was the final step into a new life.
What international specialists can learn from this
Many highly qualified immigrants assume that a permanent employment contract is automatically enough for a financing.
In practice, however, banks consider the entire life situation.
The more comprehensibly the professional outlook, residence status and asset situation are presented, the more easily a financing can be assessed.
Frequently asked questions
Can doctors from Brazil finance a home in Germany?
Is a permanent employment contract enough?
Does the medical licence already have to be in place?
Can families buy immediately after the move?
Are foreign assets taken into account?
Conclusion
This case shows that international specialists have excellent financing prospects.
What is decisive is not the new employment contract alone.
Much more important is a complete presentation of the entire professional and economic situation.
Anyone who prepares this early creates the best conditions for successfully buying a home in Germany.
A similar situation? Let's talk.
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