Hello, I am Scotty from the beautiful Schleswig Holstein! We have been thinking about it a bit, and after receiving a termination notice for personal use from our landlord, we believe it makes more sense for us to finance our own house rather than someone else’s. However, we have no idea which direction to go. Finding properties to buy is like looking for a needle in a haystack, and building feels too far away and hardly feasible. Perhaps we’re considering a small Frisian-style house, nothing big. But we really don’t know what to expect financially, what to plan for regarding the plot of land and associated costs. Together, we have a household net income of roughly 3000–3400 € (approximately 3200–3600 USD), but my job income isn’t always consistent down to the exact euro. Does building even make sense in this situation?
Unfortunately, the COVID-19 crisis depleted our savings, so we would have to start completely from scratch. I would be grateful for an initial assessment from experienced home builders before we make a fool of ourselves out there in the market. Many thanks =)
Unfortunately, the COVID-19 crisis depleted our savings, so we would have to start completely from scratch. I would be grateful for an initial assessment from experienced home builders before we make a fool of ourselves out there in the market. Many thanks =)
Scotty698612 Jul 2021 22:53Yes, I was trained as a painter but never finished. Unfortunately, I am now disabled and can’t do much myself anymore. Sure, I could paint a wall again or lay a floor with plenty of time, but that’s really pushing my pain limits. That’s one of the reasons I’m now driving a taxi in my father’s business. I was going to take over the company eventually anyway, and he’s now 66 and has earned his retirement (and his semi-detached house, and no, there’s probably nothing to inherit there) :p It’s not so easy in the industry these days though. It’s more like begging on wheels, as you can tell from my salary. My partner could probably find something else, but whether it would pay much better is another question. Sure, 100-200 € (around 110-220 USD) always help, but you can’t work miracles with that. Personally, I wouldn’t trust myself to handle a construction apartment anymore. But of course, if someone’s keen, go for it =)
Bad luck living so close to Hamburg. You’re more likely to have better luck growing up in a village or rural area. There you usually have a good overview of available plots, might inherit something, or get a gift from Grandpa Brass at a nice barbecue. Having a plot of land already gives you quite an advantage.
Hamburg and the surrounding area are currently experiencing a real building boom. Everyone is moving out here to the outskirts, building like busy elves. I’m a bit late to the game myself. But if you have to start planning the end by 35, that’s also understandable =)
Bad luck living so close to Hamburg. You’re more likely to have better luck growing up in a village or rural area. There you usually have a good overview of available plots, might inherit something, or get a gift from Grandpa Brass at a nice barbecue. Having a plot of land already gives you quite an advantage.
Hamburg and the surrounding area are currently experiencing a real building boom. Everyone is moving out here to the outskirts, building like busy elves. I’m a bit late to the game myself. But if you have to start planning the end by 35, that’s also understandable =)
Scotty6986 schrieb:
I don’t have much knowledge, that’s why I’m here.Scotty6986 schrieb:
It all looks pretty run-down.Scotty6986 schrieb:
I mean, the property is 50 years old, so who knows what might come up.For someone who says they don’t know much, you’re making quite a few judgments about quality and the condition of the flats. In Hamburg, houses have been standing for over 200 years… they get renovated every 30 years or when ownership changes.
Scotty6986 schrieb:
But many people start small here, don’t they?Apparently not you, if you read what you wrote here: Scotty6986 schrieb:
Especially since with $500,000 you could approach a house very differently.Scotty6986 schrieb:
That’s why you have to ask “stupid” questions to learn more.To be honest, it seems you’re often being dismissive instead of asking necessary questions. Before calling a flat a wreck, I’d ask whether the price is normal for a worn-down flat or what condition to expect.
Oh dear, so you have neither savings nor can you contribute significant personal labor. The reason doesn’t really matter when looking at it objectively. The situation doesn’t improve if you speak disparagingly about older houses. It’s all quite complicated.
I’ll be straightforward: rent a nice apartment or house, that’s your best option.
I’ll be straightforward: rent a nice apartment or house, that’s your best option.
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clausen7712 Jul 2021 23:50I can’t add much beyond what has already been said, but renting shouldn’t be dismissed so quickly. It has many advantages, and if you’re not planning to have children to pass the property on to, renting isn’t really a bad option. You don’t necessarily have to rent from a major lender, either.
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HilfeHilfe13 Jul 2021 06:16No chance of getting a house in Hamburg with that income. You are competing with financially secure buyers. First, go to the bank with your mortgage broker to determine your budget.
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Hausbautraum2013 Jul 2021 07:02So, I see your maximum loan range at 250k-300k, but the bank will be able to give you more precise information on that. (If there is a loan at all...)
With that, you can probably afford an older 2-room apartment in the Hamburg area.
I don’t see any other option for you.
And why is there nothing to inherit if your father owns a semi-detached house in Hamburg?
Here, semi-detached houses are sold for 1 million...
With that, you can probably afford an older 2-room apartment in the Hamburg area.
I don’t see any other option for you.
And why is there nothing to inherit if your father owns a semi-detached house in Hamburg?
Here, semi-detached houses are sold for 1 million...
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