ᐅ Dissatisfied with new construction due to other options now available
Created on: 27 Sep 2021 12:51
C
Crossy
I was just about to create a second account for this thread, but in the end, I decided against it. I’m not even sure if this thread belongs in the financing section. The purpose of this thread is not to show off; I’ve been thinking about this for a while now, and my dissatisfaction is growing. Maybe some of you have had similar experiences, and I would be interested to know what you did.
I’m unhappy with our house. Not because it has any serious defects. It suits our current life situation, we have enough space, and next spring the garden will finally be finished and look great. Like many others, during the planning and construction phase, we set priorities because of our budget and gave up on some nice extras. Now, nearly 2 years after the financing was completed, our financial situation has changed significantly.
When we arranged the financing, I was just returning to work after my second parental leave, filling in as a temporary replacement during another parental leave. I knew the job was poorly paid (considering the required qualifications), but the overall package worked well, and I was confident I could manage it alongside the children. I always believed I would earn more in the long term and that this was only a transition back to work. Nevertheless, we based our financing on our income at the time because the financial future, even with good prospects, was uncertain. Therefore, we chose a more conservative approach and did not rely on future salary increases or push our budget to the limit.
Now, almost 2 years later, our financial situation looks completely different. I’m still with the same company but no longer in a temporary replacement role—I’m now a department head, and I have increased my working hours to fulfill this leadership position. Meanwhile, my husband has changed employers and was promoted. All in all, our combined income is about $4,000 more per month. And now I am annoyed by all the little things in the house that, in hindsight, wouldn’t have been a problem for us. With an additional $100,000–150,000, our house would be my dream home.
Many things cannot be retrofitted easily or without significant effort. I wish my dissatisfaction would fade over time so I could enjoy our very nice house and our financial freedom, but mentally I am thinking about selling and looking at plots nearby. My husband is bothered by a few things in the house as well but is generally more content and mainly wary of the hassle involved in building a new house.
I’m unhappy with our house. Not because it has any serious defects. It suits our current life situation, we have enough space, and next spring the garden will finally be finished and look great. Like many others, during the planning and construction phase, we set priorities because of our budget and gave up on some nice extras. Now, nearly 2 years after the financing was completed, our financial situation has changed significantly.
When we arranged the financing, I was just returning to work after my second parental leave, filling in as a temporary replacement during another parental leave. I knew the job was poorly paid (considering the required qualifications), but the overall package worked well, and I was confident I could manage it alongside the children. I always believed I would earn more in the long term and that this was only a transition back to work. Nevertheless, we based our financing on our income at the time because the financial future, even with good prospects, was uncertain. Therefore, we chose a more conservative approach and did not rely on future salary increases or push our budget to the limit.
Now, almost 2 years later, our financial situation looks completely different. I’m still with the same company but no longer in a temporary replacement role—I’m now a department head, and I have increased my working hours to fulfill this leadership position. Meanwhile, my husband has changed employers and was promoted. All in all, our combined income is about $4,000 more per month. And now I am annoyed by all the little things in the house that, in hindsight, wouldn’t have been a problem for us. With an additional $100,000–150,000, our house would be my dream home.
Many things cannot be retrofitted easily or without significant effort. I wish my dissatisfaction would fade over time so I could enjoy our very nice house and our financial freedom, but mentally I am thinking about selling and looking at plots nearby. My husband is bothered by a few things in the house as well but is generally more content and mainly wary of the hassle involved in building a new house.
I can somewhat relate to the whole situation. We built our house 7 years ago, at a time when my wife was either pregnant or on parental leave. Back then, we expected to work 25-30 hours part-time. Whether we would have a second child wasn’t completely certain yet. The monthly payment also had to be manageable even if either one of us was long-term sick, disabled, or unemployed.
What actually happened was that my wife changed jobs to one with a shorter commute, a salary increase, and she now works 35 hours instead of the planned 25-30 hours. I also had a few salary increases, and we ended up having only one child. Because of this, the house is well within our financial means—though not as much as it seems to be for you.
With the knowledge we have now, we probably would have invested a bit more and made the house a few square meters larger. Some things can certainly still be changed, but others are no longer possible or would require significant effort.
To stick with your examples: you can probably replace doors during your first renovation after 4 or 5 years. For the fireplace system, for example, you could install it in a conservatory. Then the outdoor chimney would effectively be almost indoors again. The functions of KNX can also be replicated about 70-80% using wireless technology. A colleague of mine raised the entire roof and built the upper floor underneath. In such a case, it should be possible to install a large corner window or even open it towards a new conservatory.
Considering the losses, new running costs, and early repayment penalties a new house would cause, I think you can still improve a lot in your existing house. Just wait another 2-3 years, see what else bothers you during everyday use, and then spend a few weeks in a holiday rental to carry out a larger renovation project.
For now, we are making good use of the prepayment options; in 8 years, we have already paid off over 60% of the loan and can later decide whether to invest the money available then in a new house project or maybe retire earlier and travel the world. Priorities sometimes change over time. You never know what challenges life might still throw your way.
Regarding the town, we are glad to have left the village because we never really settled there. Building a house in a small town has changed things drastically. Now our child can walk to elementary school on their own; there’s also a secondary school and college nearby. There are plenty of children around in the neighborhood. In the village, we would have had to drive our child everywhere—whether to school, clubs, or friends who often weren’t within walking distance but came from surrounding villages. For us, social contacts mainly came through building the house and the kindergarten.
What actually happened was that my wife changed jobs to one with a shorter commute, a salary increase, and she now works 35 hours instead of the planned 25-30 hours. I also had a few salary increases, and we ended up having only one child. Because of this, the house is well within our financial means—though not as much as it seems to be for you.
With the knowledge we have now, we probably would have invested a bit more and made the house a few square meters larger. Some things can certainly still be changed, but others are no longer possible or would require significant effort.
To stick with your examples: you can probably replace doors during your first renovation after 4 or 5 years. For the fireplace system, for example, you could install it in a conservatory. Then the outdoor chimney would effectively be almost indoors again. The functions of KNX can also be replicated about 70-80% using wireless technology. A colleague of mine raised the entire roof and built the upper floor underneath. In such a case, it should be possible to install a large corner window or even open it towards a new conservatory.
Considering the losses, new running costs, and early repayment penalties a new house would cause, I think you can still improve a lot in your existing house. Just wait another 2-3 years, see what else bothers you during everyday use, and then spend a few weeks in a holiday rental to carry out a larger renovation project.
For now, we are making good use of the prepayment options; in 8 years, we have already paid off over 60% of the loan and can later decide whether to invest the money available then in a new house project or maybe retire earlier and travel the world. Priorities sometimes change over time. You never know what challenges life might still throw your way.
Regarding the town, we are glad to have left the village because we never really settled there. Building a house in a small town has changed things drastically. Now our child can walk to elementary school on their own; there’s also a secondary school and college nearby. There are plenty of children around in the neighborhood. In the village, we would have had to drive our child everywhere—whether to school, clubs, or friends who often weren’t within walking distance but came from surrounding villages. For us, social contacts mainly came through building the house and the kindergarten.
Y
Ypsi aus NI28 Sep 2021 14:06@Crossy also brought up a very valid point that some here seem to have overlooked.
It’s not about being triggered by NEW impressions (e.g., different houses, etc.) and suddenly thinking: I want that too! If that were the case, the urge to build anew would always be there. It feels like there are new “must-have” housing trends popping up every minute.
The wishes she mentions were ALREADY there BEFORE! They were deliberately cut due to the budget, and now that they might be financially feasible after such a short time: yes, that can be frustrating!
Who doesn’t know those thoughts: Oh, if only I had (not)...
It’s not about being triggered by NEW impressions (e.g., different houses, etc.) and suddenly thinking: I want that too! If that were the case, the urge to build anew would always be there. It feels like there are new “must-have” housing trends popping up every minute.
The wishes she mentions were ALREADY there BEFORE! They were deliberately cut due to the budget, and now that they might be financially feasible after such a short time: yes, that can be frustrating!
Who doesn’t know those thoughts: Oh, if only I had (not)...
Ypsi aus NI schrieb:
Who hasn’t had these thoughts: Oh, if only I had (or hadn’t)... Not anymore. I no longer worry about that. The decision has been made and was the right one at the time. To quote @Crossy, it represents the highest possible achievement level at the moment the decision was taken.
I only start to think about it if I feel bad about the decision. So the desired effect not happening is mostly a matter of soft facts.
@Musketier
You really notice that not all villages are the same.
For school, the bus stops 20cm (8 inches) from the doorstep; from 5th grade, they either walk or take the bus.
Daycare, after-school care (cross-school), kindergarten, friends, horseback riding, music lessons, library, grandparents—all within walking distance.
Since her 5th birthday, she’s been allowed to visit my parents, attend music lessons, go to the library, or run errands on her own.
Everything is easygoing, flexible, everyone knows everyone, yet no one interferes too much. It’s the perfect mix of closeness and quiet.
@Crossy and her kids seem to miss the social connections they used to have.
You really notice that not all villages are the same.
For school, the bus stops 20cm (8 inches) from the doorstep; from 5th grade, they either walk or take the bus.
Daycare, after-school care (cross-school), kindergarten, friends, horseback riding, music lessons, library, grandparents—all within walking distance.
Since her 5th birthday, she’s been allowed to visit my parents, attend music lessons, go to the library, or run errands on her own.
Everything is easygoing, flexible, everyone knows everyone, yet no one interferes too much. It’s the perfect mix of closeness and quiet.
@Crossy and her kids seem to miss the social connections they used to have.
Schimi1791 schrieb:
Things calm down when children are around? ... 😀
That’s completely new to me 🙄Once they are out of infancy and toddlerhood, definitely. It’s not that problems disappear entirely, but the personal dependency of the children—and thereby the restrictions on the parents—noticeably decreases. At least, that has been my experience. That moment was very beneficial for us (at the same time, we decided that the topic was closed for us).
Doesn’t everyone with a limited budget cut back on something?
A fireplace was one of the items we also cut due to budget and space constraints.
In hindsight, we could have easily afforded it, considering we made the first extra loan repayment 3 months after moving in and the second one about 6 months after moving in. Due to construction delays, we were able to save a lot more equity than we initially expected. We only realized this shortly before finalizing the selections with the tiler, which allowed us to approach that stage more relaxed.
A fireplace was one of the items we also cut due to budget and space constraints.
In hindsight, we could have easily afforded it, considering we made the first extra loan repayment 3 months after moving in and the second one about 6 months after moving in. Due to construction delays, we were able to save a lot more equity than we initially expected. We only realized this shortly before finalizing the selections with the tiler, which allowed us to approach that stage more relaxed.