ᐅ Homebuilding Forum – Would You Choose to Buy or Build a House Again?
Created on: 11 Dec 2015 11:09
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xycrazy
Hello,
we are about to sign the contract with the developer but have started seriously reconsidering whether we should go through with it.
We negotiated for 8 months and were quite sure about it. However, towards the end, some issues arose regarding the contract and other matters, which we managed to resolve.
It now looks like we would be paying a third of our net income to the bank for 22 years. I think we can afford it. But when you are used to paying monthly rent of about €800-900 (divided by 2), this is quite a different level.
With a house, it’s not just the loan payments; there are ongoing maintenance costs as well. From what we’ve read, this is roughly €2-3 per m² (about 0.2-0.3 per sq ft) per month. So that’s another €400-500 per month. And, of course, there is much more work involved too.
Admittedly, this is stressing us out quite a bit, especially my partner. She is worried about the heavy financial burden each month. Is that justified?
We don’t want to live just for the house; we want to go on vacations, avoid problems with children, and so on. As I said, the current situation is manageable, but we wonder if we might be underestimating the costs.
So here’s my question to the community: looking back at everything you know now about loans, maintenance costs, upkeep, and so forth, would you buy or build a house again?
If yes, why? If not, why not? I’m really interested to hear your thoughts! And were there any surprises—positive or negative—that you didn’t expect?
Regards
we are about to sign the contract with the developer but have started seriously reconsidering whether we should go through with it.
We negotiated for 8 months and were quite sure about it. However, towards the end, some issues arose regarding the contract and other matters, which we managed to resolve.
It now looks like we would be paying a third of our net income to the bank for 22 years. I think we can afford it. But when you are used to paying monthly rent of about €800-900 (divided by 2), this is quite a different level.
With a house, it’s not just the loan payments; there are ongoing maintenance costs as well. From what we’ve read, this is roughly €2-3 per m² (about 0.2-0.3 per sq ft) per month. So that’s another €400-500 per month. And, of course, there is much more work involved too.
Admittedly, this is stressing us out quite a bit, especially my partner. She is worried about the heavy financial burden each month. Is that justified?
We don’t want to live just for the house; we want to go on vacations, avoid problems with children, and so on. As I said, the current situation is manageable, but we wonder if we might be underestimating the costs.
So here’s my question to the community: looking back at everything you know now about loans, maintenance costs, upkeep, and so forth, would you buy or build a house again?
If yes, why? If not, why not? I’m really interested to hear your thoughts! And were there any surprises—positive or negative—that you didn’t expect?
Regards
We have 190 sqm (2,045 sq ft) plus an attic, but no basement. The master bedroom is planned on the ground floor. Since we haven’t moved in yet, I can’t comment on daily life so far. However, I also believe that while you should consider aging when building, you shouldn’t build solely for old age—at least if you expect most of the years of use to occur while you are still mobile.
We moved into our house 4.5 months ago, so we can now give a brief update on whether the size suits us.
Our house has 154m² (1,657 sq ft) of living space on a 610m² (6,565 sq ft) plot. Our plot is relatively small for a rural area, but sufficient for us since we don’t really have the time to maintain a large lot.
By the way, we are 28 and 29 years old and deliberately chose my hometown to be close to my family. In my village, community spirit and togetherness are highly valued. Like all the other residents, we hope to spend the rest of our lives here. We don’t plan to move again, except maybe in about 60 years to the next street, for our final place.
This might sound naive to many, especially at such a young age, but unlike many other villages, in ours young people don’t move away to the city; on the contrary, they really want to stay.
The house was intentionally built without a basement, but we planned plenty of storage space anyway. We carefully designed the utility room and decided on a closed concrete staircase, which created a great storage area underneath. There is also plenty of storage space in the attic, and in the walk-in closet we have two huge wardrobes providing extra storage.
We planned the house to have enough space for our two planned children. If a third child arrives, we could clear the study on the ground floor and set up a small workspace in the upstairs hallway.
Within the 154m² (1,657 sq ft) we have the following:
Ground floor:
Utility room with plenty of space for the washing machine, heat pump, etc.
Small guest toilet + cloakroom niche
Closed kitchen
Living room with dining area
Study
Storage under the concrete stairs
Upper floor:
Walk-in closet with access to
Small bedroom
and large bathroom
Two large children’s rooms (currently set up as a second study and guest room since we don’t have children yet)
Second bathroom for children or guests
200m² (2,153 sq ft) would have been far too large for our needs. We’re not really cleaning fanatics, so we would be overwhelmed with such a big space.
I believe we have enough room even when children arrive. If not, we can use the space differently (as we do now), so the house won’t feel too big.
Our house has cost about 260,000 euros with everything included (not counting the plot, which we received as a gift). The only thing left to add is the carport, which we will build ourselves.
Our house has 154m² (1,657 sq ft) of living space on a 610m² (6,565 sq ft) plot. Our plot is relatively small for a rural area, but sufficient for us since we don’t really have the time to maintain a large lot.
By the way, we are 28 and 29 years old and deliberately chose my hometown to be close to my family. In my village, community spirit and togetherness are highly valued. Like all the other residents, we hope to spend the rest of our lives here. We don’t plan to move again, except maybe in about 60 years to the next street, for our final place.
This might sound naive to many, especially at such a young age, but unlike many other villages, in ours young people don’t move away to the city; on the contrary, they really want to stay.
The house was intentionally built without a basement, but we planned plenty of storage space anyway. We carefully designed the utility room and decided on a closed concrete staircase, which created a great storage area underneath. There is also plenty of storage space in the attic, and in the walk-in closet we have two huge wardrobes providing extra storage.
We planned the house to have enough space for our two planned children. If a third child arrives, we could clear the study on the ground floor and set up a small workspace in the upstairs hallway.
Within the 154m² (1,657 sq ft) we have the following:
Ground floor:
Utility room with plenty of space for the washing machine, heat pump, etc.
Small guest toilet + cloakroom niche
Closed kitchen
Living room with dining area
Study
Storage under the concrete stairs
Upper floor:
Walk-in closet with access to
Small bedroom
and large bathroom
Two large children’s rooms (currently set up as a second study and guest room since we don’t have children yet)
Second bathroom for children or guests
200m² (2,153 sq ft) would have been far too large for our needs. We’re not really cleaning fanatics, so we would be overwhelmed with such a big space.
I believe we have enough room even when children arrive. If not, we can use the space differently (as we do now), so the house won’t feel too big.
Our house has cost about 260,000 euros with everything included (not counting the plot, which we received as a gift). The only thing left to add is the carport, which we will build ourselves.
N
nordanney13 Dec 2015 11:04We have approximately 250 m² (2,690 sq ft) of living space (floor area over 300 m² (3,230 sq ft)) – the size of the house always reflects the needs.
Starting with 65 m² (700 sq ft) condominium (single person), then around 130 m² (1,400 sq ft) house (+ basement) with two children, and finally the above-mentioned living space – with three children plus home office.
The next house will surely come when the children have moved out.
Starting with 65 m² (700 sq ft) condominium (single person), then around 130 m² (1,400 sq ft) house (+ basement) with two children, and finally the above-mentioned living space – with three children plus home office.
The next house will surely come when the children have moved out.
B
Bauexperte13 Dec 2015 11:52Hello,
In my job, I have seen many designs, ranging from awful to perfectly suited to the respective life situation. Interestingly, not every good design was created by an architect, and not every poor suggestion came from a salesperson; so it depends…
Yes, depends on what? Potential buyers obviously must be able to afford to build; they also need to be willing to consider arguments for or against their own vision of the dream house/plot of land. When expectations exceed the available budget, the same scenario often unfolds: in the eyes of potential buyers, they themselves are not the source of the conflict, but the “bad” seller. “Others build too… others offer much cheaper… the internet says… and anyway…” What often frustrates me is the lack of willingness to be honest with me as a conversation partner. I cannot hear anymore – “your consultation was the most comprehensive of all, you were always available to us, you addressed difficult topics, we took away many tips from our conversations… I did not like your partner (and vice versa, if MyOne answered the phone)” – when potential buyers were even willing to explain a rejection at all. Often, these people become “deaf” and stop responding; silence speaks volumes.
If the truth is the driving force of conversations from the start, solutions are almost always found to realize the dream of one’s own four walls. It does not matter if, at the end of the day, the contract is for a house with a footprint of 300 m² (3,229 sq ft) or (supposedly) “only” 100 m² (1,076 sq ft). People with greater wealth don’t get that way by spending! What matters is the economical conversion of euros into quality of life; that naturally also includes the monthly loan payment in relation to current income.
Therefore, the thread title is not quite complete. In my opinion, it should be supplemented with “how did your decision-making process develop up to signing?” I am quite certain that the answers you receive then would give you the momentum to make the right decision for you.
Best regards, Bauexperte
xycrazy schrieb:“Would you buy/build a house again, looking back?” – an interesting question, which – are you hoping it will give you the push to soon sign on the dotted line? – cannot be representative. Those who would answer negatively usually do not write here; they only read silently. If they contributed to the thread, interesting aspects would surely come to light.
Therefore, my question to the group is: looking back at everything you now know about loans, maintenance costs, upkeep effort, etc., would you buy/build a house again?
In my job, I have seen many designs, ranging from awful to perfectly suited to the respective life situation. Interestingly, not every good design was created by an architect, and not every poor suggestion came from a salesperson; so it depends…
Yes, depends on what? Potential buyers obviously must be able to afford to build; they also need to be willing to consider arguments for or against their own vision of the dream house/plot of land. When expectations exceed the available budget, the same scenario often unfolds: in the eyes of potential buyers, they themselves are not the source of the conflict, but the “bad” seller. “Others build too… others offer much cheaper… the internet says… and anyway…” What often frustrates me is the lack of willingness to be honest with me as a conversation partner. I cannot hear anymore – “your consultation was the most comprehensive of all, you were always available to us, you addressed difficult topics, we took away many tips from our conversations… I did not like your partner (and vice versa, if MyOne answered the phone)” – when potential buyers were even willing to explain a rejection at all. Often, these people become “deaf” and stop responding; silence speaks volumes.
If the truth is the driving force of conversations from the start, solutions are almost always found to realize the dream of one’s own four walls. It does not matter if, at the end of the day, the contract is for a house with a footprint of 300 m² (3,229 sq ft) or (supposedly) “only” 100 m² (1,076 sq ft). People with greater wealth don’t get that way by spending! What matters is the economical conversion of euros into quality of life; that naturally also includes the monthly loan payment in relation to current income.
Therefore, the thread title is not quite complete. In my opinion, it should be supplemented with “how did your decision-making process develop up to signing?” I am quite certain that the answers you receive then would give you the momentum to make the right decision for you.
Best regards, Bauexperte
The first house had 160 m² (1,722 sq ft), the one currently under construction is 140 m² (1,507 sq ft). It is sufficient for a family with two children. The plot is small, only 300 m² (3,229 sq ft), but otherwise we would have had to move far away from reasonable public transport for cost reasons.
EveundGerd13 Dec 2015 15:34xycrazy schrieb:
I’m surprised that the vast majority would do it again! Could you share your living area measurements? We are currently at 200m² (2150 square feet) and are wondering if that might be a bit too large, especially considering our age.We reduced our living space from 240m² (2583 square feet) to 155m² (1668 square feet). There are 4 people and one cat in our household.
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