Buying property in Luxembourg often represents a once-in-a-lifetime project. In a competitive market, where prices remain high and supply is limited, proper preparation is essential. Yet many buyers make common mistakes that can be costly.
Here are the 5 main mistakes to avoid to successfully purchase property in Luxembourg.
Before even starting property visits, it is crucial to know your exact purchasing capacity. Many buyers begin without calculating additional costs (notary fees, bank fees, renovation works) and end up facing disappointment or financing refusal.
A well-defined budget, validated with a bank advisor, allows you to directly target accessible properties and avoid wasting time on homes that are out of reach.
The purchase price is not the only cost to consider. Condominium fees, insurance, maintenance, and local taxes all add to the monthly budget.
A property that seems “affordable” at first glance can become expensive in the long term if these costs are not anticipated. Calculating the real monthly expense is therefore essential before committing.
The Luxembourg market is dynamic, but this should not push buyers to sign too quickly. Each municipality and neighborhood has its own advantages and limitations: prices, mobility, proximity to schools or shops.
Visiting several properties helps you compare more effectively and refine your project, rather than giving in too quickly to a favorite that may not truly match your lifestyle.
A home that looks appealing at first glance may hide costly defects: poor insulation, outdated heating systems, or electrical installations that need to be redone.
With increasingly strict energy regulations, these aspects are becoming decisive. Requesting technical reports or consulting an expert before committing helps avoid unpleasant surprises.
Location is, and will always remain, the number one criterion. A property that is too remote or poorly connected can be difficult to resell, even at an attractive price. Conversely, a well-located property retains its value and sells quickly.
Buying also means investing for the future: it is often better to prioritize a good address, even if it requires compromises on size or features.
Avoiding these mistakes helps secure your purchase and enhance the long-term value of your investment.
At Immobilière Biewer & Spautz sàrl, we support you at every step of the process, helping you buy with confidence thanks to our in-depth knowledge of the Luxembourg real estate market.
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