ᐅ Is the real estate market increasingly forcing families to build their own homes?
Created on: 6 Apr 2019 11:35
T
Thierse
Actually, we would prefer to avoid building. Unfortunately, existing properties within a 20 km (12 miles) radius have become quite expensive, and affordable rental houses with small gardens are simply scarce.
Until now, we have been living in an old rental apartment without a garden. We would like to change that, but there is a lack of options. The listings on various platforms are overcrowded with families looking for affordable housing.
Who is familiar with this situation, and how do you deal with it?
Until now, we have been living in an old rental apartment without a garden. We would like to change that, but there is a lack of options. The listings on various platforms are overcrowded with families looking for affordable housing.
Who is familiar with this situation, and how do you deal with it?
Here is how I see it;
Nowadays, only people who earn enough (over 7k monthly) or those who have never earned much and probably never will can afford to build.
They take out a loan, pay the installments until they can’t anymore, and then the property gets sold. That’s it. Until then, they hopefully lived well in the house and enjoyed it.
If someone builds now with combined salaries of up to 5k, and that for 450k or more, I wish them a lot of luck and even more perseverance.
When searching for a house, you need some luck. BUT you can slightly influence that luck. For example, on sunny days, you could take a bike ride and explore residential areas, being open to contact.
If you see a house with a completely overgrown garden, you might just ring the doorbell.
Often, there is someone living there who, due to age, can no longer take care of the house and garden. Something might come up... (Speaking from experience).
Hi Karsten, you probably haven’t been to Barmbek in a while... Because households with around 5k monthly net income have long been unable to afford an apartment there.
The train station was/is being rebuilt, the AK-Barmbek site (Quartier 21) is unaffordable, and several demolitions are planned on Fuhlsbüttlerstrasse with new unaffordable apartments to follow.
So, due to its proximity to the city park and City-Nord (many workplaces) and excellent public transport connections, Barmbek is no longer affordable.
Rahlstedt is much cheaper precisely because it’s further away and its public transport is comparatively less optimal.
Just a side note.
Nowadays, only people who earn enough (over 7k monthly) or those who have never earned much and probably never will can afford to build.
They take out a loan, pay the installments until they can’t anymore, and then the property gets sold. That’s it. Until then, they hopefully lived well in the house and enjoyed it.
If someone builds now with combined salaries of up to 5k, and that for 450k or more, I wish them a lot of luck and even more perseverance.
When searching for a house, you need some luck. BUT you can slightly influence that luck. For example, on sunny days, you could take a bike ride and explore residential areas, being open to contact.
If you see a house with a completely overgrown garden, you might just ring the doorbell.
Often, there is someone living there who, due to age, can no longer take care of the house and garden. Something might come up... (Speaking from experience).
Nordlys schrieb:
Well, let me break it down. Friends of ours live in Hamburg Rahlstedt in a 100 sqm (1,076 sq ft) condominium in an old villa. With a courtyard, parking space, carport, some lawn, and so on. Good neighborhood, not Elbchaussee but also not Barmbek Basch Habichtstrasse or even Jenfeld.
Hi Karsten, you probably haven’t been to Barmbek in a while... Because households with around 5k monthly net income have long been unable to afford an apartment there.
The train station was/is being rebuilt, the AK-Barmbek site (Quartier 21) is unaffordable, and several demolitions are planned on Fuhlsbüttlerstrasse with new unaffordable apartments to follow.
So, due to its proximity to the city park and City-Nord (many workplaces) and excellent public transport connections, Barmbek is no longer affordable.
Rahlstedt is much cheaper precisely because it’s further away and its public transport is comparatively less optimal.
Just a side note.
Farilo schrieb:
Nowadays, only people who earn enough (> $7,000 monthly) or those who have never earned well and never will can afford to build. I don’t agree. It really depends on where and how you build. At least outside major metropolitan areas, it is definitely possible to build for under 400,000 (depending on land prices, sometimes including the plot), and with current interest rates, you don’t need to earn $7,000 per month to afford the repayments—unless you are close to retirement.
Yosan schrieb:
I don’t see it that way. It really depends on where and how you build. Outside of metropolitan areas, it’s definitely possible to build for under 400,000 euros (depending on land prices, possibly including the land), and with current interest rates, you don’t need 7,000 euros per month to repay it—unless you’re already close to retirement.Exactly. Our all-inclusive total is 316,000 euros (land 484 sqm (5209 sq ft), prefabricated house 120 sqm (1292 sq ft), 15 minutes from Kassel). Maybe the final cost will be a bit higher, but we certainly won’t exceed 350,000 euros.
P
pffreestyler10 Apr 2019 08:42Farilo schrieb:
My view is this;
Nowadays, only people who earn a sufficient income (over 7,000 monthly) or those who have never earned well and likely never will can afford to build. They take out a loan, pay the installments until they can no longer keep up, and then the property is sold. Done. Until then, they hopefully lived well and enjoyed their home.
For those building right now with combined incomes of up to 5,000, and for prices starting at 450,000, I wish them a lot of luck and even more perseverance.Every time I read comments like this, it feels like I’m living in a completely different world up here. Maybe that’s why we people from Schleswig-Holstein always rank first in Germany’s happiness surveys...
For example, in our village, there are currently three individuals building a house with net incomes under 2,000 each...
SH and MVP are different.—We have a lot of land, few people, hardworking informal laborers, and the determination to build houses.
It really is like this: in our settlement as well, many people with average to low incomes, smaller houses, lots of own work, a lot of mutual help, and things are getting done.
It really is like this: in our settlement as well, many people with average to low incomes, smaller houses, lots of own work, a lot of mutual help, and things are getting done.
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