We have now decided to start building a house from autumn 2019, even though personally I would have much preferred to buy. On one hand, I’m happy that our long-held plans are finally coming to fruition; on the other hand, I’m currently frustrated that we spent 5 years searching in vain – 5 years of rent payments at 600 euros per month (about $650 USD) times 12 months times 5 years equals 36,000 euros (about $39,000 USD)… money we could have already paid toward a mortgage.
My parents had their mortgage paid off by age 50. According to our repayment plan, I expect to be in my early 60s when we finish.
We posted several ads, told everyone we know, left notes in mailboxes of vacant properties, and kept our eyes open everywhere… all ultimately futile. We could have bought something in November 2017 but were outbid at the last moment by about 10,000 euros (around $11,000 USD). That was not worth it to us, especially since the agent was also asking for a commission. That’s life…
One real estate agent told us that interesting properties sometimes have to be marked inactive within an hour after listing because the phone won’t stop ringing otherwise.
About 95% of the viewings we did turned out to be disappointments: mold, water damage, kilos of pigeon droppings in the attic, awkward floor plans, very old electrical installations, filthy bathrooms, no mobile reception, slow internet, impending road and sewer construction of 1.5 years duration with cost repartition, paint shops, and noisy neighbors like arcades, and so on.
Supposedly, half villages are empty here in northern Hesse and many houses are waiting for buyers. But I really don’t see that, except for some dilapidated half-timbered houses on main roads.
This year, our patience ran out because I don’t believe anything will change in the next 5 years either.
How long did it take for you? Or did you skip the “fun” and decide to build right away? I’d be glad to read about your experiences.
Have a great weekend!
My parents had their mortgage paid off by age 50. According to our repayment plan, I expect to be in my early 60s when we finish.
We posted several ads, told everyone we know, left notes in mailboxes of vacant properties, and kept our eyes open everywhere… all ultimately futile. We could have bought something in November 2017 but were outbid at the last moment by about 10,000 euros (around $11,000 USD). That was not worth it to us, especially since the agent was also asking for a commission. That’s life…
One real estate agent told us that interesting properties sometimes have to be marked inactive within an hour after listing because the phone won’t stop ringing otherwise.
About 95% of the viewings we did turned out to be disappointments: mold, water damage, kilos of pigeon droppings in the attic, awkward floor plans, very old electrical installations, filthy bathrooms, no mobile reception, slow internet, impending road and sewer construction of 1.5 years duration with cost repartition, paint shops, and noisy neighbors like arcades, and so on.
Supposedly, half villages are empty here in northern Hesse and many houses are waiting for buyers. But I really don’t see that, except for some dilapidated half-timbered houses on main roads.
This year, our patience ran out because I don’t believe anything will change in the next 5 years either.
How long did it take for you? Or did you skip the “fun” and decide to build right away? I’d be glad to read about your experiences.
Have a great weekend!
M
Mottenhausen30 Nov 2018 12:34Started looking for existing properties in summer 2018, FAIL! The market is a disaster. Thanks to this forum, I quickly realized that searching would lead nowhere.
By chance, through acquaintances, I found out about available plots in a new residential area in a perfect location for us. Visited the site, bought the plot in autumn 2018, since late summer 2018 visited model homes, compared a lot, and eventually chose a smaller local home builder. Construction was scheduled to start in March 2019 according to the contract, with a build time guarantee until sometime at the end of 2019.
I don’t think it can go any faster...
By chance, through acquaintances, I found out about available plots in a new residential area in a perfect location for us. Visited the site, bought the plot in autumn 2018, since late summer 2018 visited model homes, compared a lot, and eventually chose a smaller local home builder. Construction was scheduled to start in March 2019 according to the contract, with a build time guarantee until sometime at the end of 2019.
I don’t think it can go any faster...
montessalet30 Nov 2018 12:41We spent three years just looking for a plot of land. Our search area was quite large. Finding a building site takes time—and, ultimately, some luck.
If you have a building plot: start building.
If you have a building plot: start building.
We have been searching for a plot of land near us for about 2.5 years, while also occasionally viewing existing properties. However, none of them remotely matched our expectations. The draft notarized contract should arrive in the mailbox in the next few days.
The house is largely planned and will also be commissioned shortly thereafter.
The house is largely planned and will also be commissioned shortly thereafter.
In terms of location, we were quite flexible (within a 30 km (18.6 miles) radius around Kassel), and any place with at least 500 residents was generally an option. I always wanted to have a basement, but for a new build, that was financially out of reach, so only existing properties remained, even in rural areas. However, without connections in the villages, it’s hardly possible for outsiders to get access to the good opportunities. So, now, reluctantly, we will build without a basement.
I’m also thinking about how to balance the house building process with my job. As the builder, you should probably visit the construction site occasionally (even if we are going with a prefabricated house), but our department meetings regularly run until 6:30/7:00 pm. My employer is quite understanding, but I don’t want to push it too much... How have you managed this?
I’m also thinking about how to balance the house building process with my job. As the builder, you should probably visit the construction site occasionally (even if we are going with a prefabricated house), but our department meetings regularly run until 6:30/7:00 pm. My employer is quite understanding, but I don’t want to push it too much... How have you managed this?
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