ᐅ Psychology of Buying / Overcoming Obstacles

Hello,

here’s a somewhat "unusual" topic. How did you manage to fundamentally decide between an apartment (condominium) or a house for yourselves? And in the end, how did you manage to put your name on the loan agreement for a construction project, where you are basically always an amateur but financially have to compete at the highest level? I have been following for a long time, and good offers come and go. I just can’t seem to overcome the feeling of uncertainty. Am I the only one struggling with this?

Hello, I think this is completely normal and human. In the USA, buying is as common as renting. It’s normal to buy and sell properties there. In Germany, it feels more like a lifelong decision. Questions arise like: Is the financial burden manageable? What is the neighborhood like? Will I be able to find a job nearby, and so on. I can reassure you! When it comes to jobs, I’m used to dealing with large numbers. When we signed the purchase contract with the notary, I immediately felt like I was going to be sick! What is your biggest obstacle or fear?

Hello HilfeHilfe,

From a financial perspective, we believe we are well prepared. As I mentioned, I have been reading for a very long time and think I have built up solid knowledge—more precisely, I have benefited from many inquiries here.

The biggest fear, as always, is the "unknown." It already starts with not being able to agree on either a condominium or a house. A house would be nice, but since we have no experience with home construction, we hesitate because of the burden and always have typical horror stories in mind. A condominium would, due to the shared community, feel like it would reduce the risk for us and offer a better location. But again, there is fear of the disadvantages of a "community." It is simply the fear of making mistakes that could cause significant financial damage. No matter how much I read, it seems like a sea of aspects to consider. Even then, there remains the feeling that something might be forgotten, which the involved parties will certainly not point out. I believe it ultimately comes down to a lack of trust in this industry.

HilfeHilfe schrieb:

I’m used to dealing with large numbers in my job, ...

I actually believe that someone who handles large figures professionally finds it easier to manage six-figure amounts in their private life than a bakery sales assistant who works with coins every day. For me, it was relatively easy to make decisions involving thousands of € because that’s part of my job, where the amounts are in the millions.

Unsure schrieb:

Hello HilfeHilfe,

From a financial standpoint, we believe we are well-prepared. I have been reading along here for quite a long time, as I mentioned, and I think I have built up good knowledge—respectively benefiting from many inquiries here.

The biggest fear, as always, is the “unknown.” It starts with not being able to agree on either a condo or a house. A house would be nice, but since we have no experience with home building, we are hesitant because of the stress and always have the typical horror stories in mind. A condo, due to the community aspect, seems to minimize the risk for us and offers a better location. But then again, there is the fear of the drawbacks of “living with others.” It’s simply the fear of making mistakes that could cause a serious financial burden. No matter how much I read, it seems like a sea of factors to consider. And even then, there is the feeling that something might be overlooked, which the involved parties definitely won’t point out. I think it ultimately comes down to a lack of trust in this industry.

So how are you currently living? In a condo or community setting?

There is not only a lack of trust in the construction industry, but also in one’s own decisions.

Do your parents own property?