ᐅ Dreaming of a House: Realistic Goal or Just Wishful Thinking?
Created on: 9 Oct 2019 00:58
T
Trinity2019
Good evening,
I have been considering for some time now fulfilling my dream of owning a home. However, there are some factors that make me doubt how realistic this really is, or how much I could afford to spend, if at all.
Here are the basic conditions:
I am 40, single, and plan to cover the entire financing on my own, both now and in the future.
No children, equity of 100,000, income currently around 4,200, with a very likely increase of 15% over the next 3 years.
My additional expenses are very low, as my employer fully covers my car and mobile phone. What is important to me is a nice garden; the house can be smaller, since I will be living alone. I could save quite a bit on the interior finishing.
So, I would appreciate your opinion and assessment... should I really go for it, or would it be better to hold off?
Best regards
I have been considering for some time now fulfilling my dream of owning a home. However, there are some factors that make me doubt how realistic this really is, or how much I could afford to spend, if at all.
Here are the basic conditions:
I am 40, single, and plan to cover the entire financing on my own, both now and in the future.
No children, equity of 100,000, income currently around 4,200, with a very likely increase of 15% over the next 3 years.
My additional expenses are very low, as my employer fully covers my car and mobile phone. What is important to me is a nice garden; the house can be smaller, since I will be living alone. I could save quite a bit on the interior finishing.
So, I would appreciate your opinion and assessment... should I really go for it, or would it be better to hold off?
Best regards
Finding houses for rent is like looking for a needle in a haystack. From an investor’s perspective, this is quite an unattractive situation. You don’t build 20 single-family homes new just for renting out.
Usually, these are houses owned by private individuals who, for various reasons, do not (yet) want to sell.
Usually, these are houses owned by private individuals who, for various reasons, do not (yet) want to sell.
Buchweizen schrieb:
That’s easy to say, but first there need to be attractive houses available for rent. It might also depend on the location. Here, you can really forget about that.
Besides the fact that very few people would spend that much money on a rental property.
Well, what is the alternative if you don’t have enough money for a perfect owner-occupied home but don’t want to live in a two-room apartment of 60cm (24 inches)² on the fourth floor?
Therefore, there are countless people who spend over 2,000–3,000 per month on rent. Of course, in Mecklenburg-Western Pomerania, it is probably a smaller share than in Munich or Hamburg.