ᐅ The situation in the real estate market... unbelievable
Created on: 12 Nov 2019 18:29
R
Reinhard84.2
Hello everyone,
We are currently looking for a property in the Lower Rhine region, which is not a particularly sought-after area, but unfortunately, the prices are not any better than in eastern Germany. When calling several real estate agents, they mentioned up to 50 viewings scheduled for one property. This was for a standard semi-detached house with a somewhat larger plot. I get the impression that as soon as a house has a garden bigger than a chicken coop, the interest is incredible.
Of course, the municipalities are not designating any new building land, as that would spoil the surroundings… (to what extent that is still possible is left to their imagination). This naturally has the convenient side effect that existing building plots and older properties are insanely expensive.
You can probably wait half a lifetime for the supposed recession, falling prices, and available properties. It’s all frustrating and a real pity.
Thanks for listening.
We are currently looking for a property in the Lower Rhine region, which is not a particularly sought-after area, but unfortunately, the prices are not any better than in eastern Germany. When calling several real estate agents, they mentioned up to 50 viewings scheduled for one property. This was for a standard semi-detached house with a somewhat larger plot. I get the impression that as soon as a house has a garden bigger than a chicken coop, the interest is incredible.
Of course, the municipalities are not designating any new building land, as that would spoil the surroundings… (to what extent that is still possible is left to their imagination). This naturally has the convenient side effect that existing building plots and older properties are insanely expensive.
You can probably wait half a lifetime for the supposed recession, falling prices, and available properties. It’s all frustrating and a real pity.
Thanks for listening.
Zauberwesen19 Nov 2019 20:38A smart parent once told me:
"I don't want to be the richest person in the cemetery"
"I don't want to be the richest person in the cemetery"
Maschi33 schrieb:
There are also people who choose to refuse this support because they don’t want anything handed to them. I am, for example, one of those. I either manage it with my own two hands or not at all. My parents didn’t receive anything for free either, so they deserve to treat themselves to a bit of luxury from their hard-earned and saved money.
Of course, everyone is free to decide as they wish.My parents received a lot of gifts from their families, but unfortunately, I did not get anything from them. I would have gladly accepted something and plan to give something to my children as well.T
Trademark19 Nov 2019 20:40ypg schrieb:
Some of you are talking nonsense.
Most people don’t have complete freedom to choose where they live. Often it’s where they grew up, where their family is, or where they can find a job. And yes, also where they can build a sense of home for themselves. The holiday destination doesn’t really matter, does it?! Hey, I live where others go on vacation...
Even an “ugly” area certainly has some nice residential streets with infrastructure.
You just have to open your eyes and not always dwell on wounds or look at the billionaires (as was mentioned here). I think you misunderstood me. What I basically wanted to say is: Every so-called ugly area (like supposedly Duisburg within a 100km (62 miles) radius) also has its beautiful sides, and supposed paradises can feel terribly boring. Generalizations are simply nonsense and usually show a lack of understanding...
Maschi33 schrieb:
There are certainly people who refuse this kind of support on principle because they don’t want anything handed to them. I am an example of this mindset. Either I manage it with my own two hands, or I don’t. My parents also didn’t receive anything for free, so they should be able to enjoy a little luxury from their hard-earned and saved money.
Of course, everyone can and should decide for themselves how to handle this. How heroic
There is absolutely no reason not to accept financial support from family.
ypg schrieb:
Nobody should feel ashamed to accept gifts.
Those who like to give don’t feel appreciated if their gift is refused.
If you don’t want to accept, even though you can, you end up making both parties unhappy. Of course, no one should feel ashamed of this—I haven’t judged anyone for it.
Just yesterday, I spoke with my parents. They didn’t sound really “unhappy.” I’m currently doing very well in my newly built 110 m² (1,184 sq ft) rental apartment, where my wife and I pay a rent of 7 €/m² (65 USD/sq ft) excluding utilities. Living affordably in rental housing is actually a great way to save equity, especially with appropriate salaries. We are not in a hurry. Good things take time...
Maschi33 schrieb:
I am currently very comfortable in my newly built 110 m² (1,184 sq ft) rental apartment, where my wife and I pay 7 €/m² (per 10.76 sq ft) monthly cold rent. Renting affordably is actually a great way to save equity, especially with a sufficient income.
7 €/m² (per 10.76 sq ft) per month * 110 m² (1,184 sq ft) * 12 months = 9,240 € annual rent. A 9,240 € annual loan payment at 1% interest plus 2% principal repayment corresponds to an owner-occupied apartment worth 308,000 € with the same monthly expense of 770 €. Additionally, while rents tend to increase, the value of the property typically rises over time. But hey… everyone has their own preferences. I understand this is a simplified calculation, but under the current monetary and market conditions, it’s reasonably accurate as long as you don’t completely misjudge the situation. The purchase incidental costs are usually recovered through the property’s appreciation within 3 to 4 years.