Hello everyone,
I’ve already read some interesting threads here and now I’d like to ask a question myself:
About me: I’m 28 years old and married—no children yet, but we do want some in the future. My husband and I have been searching for properties, plots of land, etc., for about 2.5 months. We are quite open to options like condominiums, building a new home on a lot, or an existing property.
We are both industrial engineers and currently earn a combined gross annual income of 120,000 EUR. Our current savings amount to 120,000 EUR. We only finished our master’s degrees 3 and 4 years ago. Right now, we live in 60 sq m (645 sq ft) for 1,000 EUR (about 1,000 USD) all-inclusive rent. It’s hardly possible to find cheaper here without significantly increasing the commute to work. Currently, we can bike to work.
At the moment, we are looking at a 1,200 sq m (12,917 sq ft) plot with a new build. The prefabricated house provider would be Bien-Zenker. Our meeting with them left a solid impression compared to two other manufacturers.
We have received an offer that includes almost everything: a 165 sq m (1,776 sq ft) house without a basement, a double garage, the land, and utility connections for just under 670,000 EUR. Something like the kitchen is, of course, not included. So we’re assuming about 700,000 EUR in total.
I am extremely uncertain whether we should proceed with this. Also, whether the financing will work out. Our main bank said it should be possible... but they would prefer us to have a guarantor. My in-laws would support us with about 30,000 EUR, but my parents wouldn’t help financially. My uncle could assist with a low-interest loan. Since all this came up so quickly, we still need to schedule more appointments to clarify the financing. Our decision deadline is about four weeks.
I wanted to ask if there are people here who have been in a similar situation or could offer an assessment.
Thank you very much!
I’ve already read some interesting threads here and now I’d like to ask a question myself:
About me: I’m 28 years old and married—no children yet, but we do want some in the future. My husband and I have been searching for properties, plots of land, etc., for about 2.5 months. We are quite open to options like condominiums, building a new home on a lot, or an existing property.
We are both industrial engineers and currently earn a combined gross annual income of 120,000 EUR. Our current savings amount to 120,000 EUR. We only finished our master’s degrees 3 and 4 years ago. Right now, we live in 60 sq m (645 sq ft) for 1,000 EUR (about 1,000 USD) all-inclusive rent. It’s hardly possible to find cheaper here without significantly increasing the commute to work. Currently, we can bike to work.
At the moment, we are looking at a 1,200 sq m (12,917 sq ft) plot with a new build. The prefabricated house provider would be Bien-Zenker. Our meeting with them left a solid impression compared to two other manufacturers.
We have received an offer that includes almost everything: a 165 sq m (1,776 sq ft) house without a basement, a double garage, the land, and utility connections for just under 670,000 EUR. Something like the kitchen is, of course, not included. So we’re assuming about 700,000 EUR in total.
I am extremely uncertain whether we should proceed with this. Also, whether the financing will work out. Our main bank said it should be possible... but they would prefer us to have a guarantor. My in-laws would support us with about 30,000 EUR, but my parents wouldn’t help financially. My uncle could assist with a low-interest loan. Since all this came up so quickly, we still need to schedule more appointments to clarify the financing. Our decision deadline is about four weeks.
I wanted to ask if there are people here who have been in a similar situation or could offer an assessment.
Thank you very much!
motorradsilke schrieb:
I would think carefully about this mindset.
Buying a house always costs money, a lot of money—property transfer tax, notary fees, land registry, possibly an agent, moving expenses. When I moved into my first property (back then single and without children), I didn’t have this thought. Looking back, about 20 years later, I would do exactly the same again, even though I encountered all these arguments along the way.
There’s no right or wrong in this matter.
I never sold a property at a loss. On the contrary, I ended up with a profit on all of them. But that’s not really the point.
Expectations change, life circumstances change, income changes—so why shouldn’t the house change as well?
I love my home; it’s where I feel settled! But I’m not a slave to my house, and if it no longer fits our needs, I consider something different.
Edit: all my previous homes are within a radius of about 3 meters (10 feet) from my current one.
nordanney schrieb:
you have to change. I correct that: You don’t have to. But stagnation, whether mental or in life, has never helped anyone.
The children of the original poster aren’t even born yet, and users are already advising to think about inheritance.
People save or own (land, businesses, houses) to potentially liquidate these assets if needed, for example, in old age or in times of need. That is what we call wealth. What you own means you don’t have to rent.
Inheritance is something you do when you have a surplus and want to give it away – a house doesn’t fall into that category at first because it isn’t surplus and must cover needs during illness or difficult times.
Moreover, eventually, you let your children go to live their own lives rather than holding on to them. That is true dedication: you should be able to let go or allow separation.
Our daughter now runs a medium-sized business, has bought her own used house, and has very different thoughts than having to inherit our small house. My parents, still living in their home at 80, consider it their retirement provision, and “inheriting” doesn’t fit any of our current ways of life. We will probably be examples for others in this regard.
(For me, this is my third property: condominium, townhouse, single-family house.)
We have all left passion, sweat, and hard work in every home or apartment. But that doesn’t mean you cling to it when fate requires otherwise.
And our houses are, after all, not castles or palaces.
A few updates and insights:
I found out that a friend knows the neighbor of the plot. She asked him about the property:
The soil apparently contains a lot of peat (which was also extracted nearby in the past).
I now suspect that this is why the price per square meter is low. Additional costs for the foundation will likely come on top. Possibly pile foundations.
And another thing: We also inquired with another provider regarding their offer. However, the plot wasn’t included there, so either the “land service” would be needed or you have to look for it yourself. When I asked about the real estate transfer tax, he told us exactly the same as the lady before:
it’s nonsense, he’s never heard of such an issue and it has never been a problem. The tax office has no chance. There is no tied sale transaction here.
He cannot believe there are court rulings on this matter.
I really wonder how competent these salespeople for prefabricated houses are.
I found out that a friend knows the neighbor of the plot. She asked him about the property:
The soil apparently contains a lot of peat (which was also extracted nearby in the past).
I now suspect that this is why the price per square meter is low. Additional costs for the foundation will likely come on top. Possibly pile foundations.
And another thing: We also inquired with another provider regarding their offer. However, the plot wasn’t included there, so either the “land service” would be needed or you have to look for it yourself. When I asked about the real estate transfer tax, he told us exactly the same as the lady before:
it’s nonsense, he’s never heard of such an issue and it has never been a problem. The tax office has no chance. There is no tied sale transaction here.
He cannot believe there are court rulings on this matter.
I really wonder how competent these salespeople for prefabricated houses are.
Tine996 schrieb:
He can’t believe that there are court settlements on this matter.
I really wonder how competent these salespeople for prefab houses are. Of course, he knows that and is fully aware of it himself.
But after signing the contract and the construction phase, you will never see him again. Therefore, the competence lies more in the absence of conscience and decency.
Tine996 schrieb:
I really wonder how knowledgeable these prefab house salespeople are.Very knowledgeable from the companies’ point of view, by pretending to be clueless. However, they won’t stake their reputation on any absolute statements. And they most likely know that the building ground contains peat.