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 =)
Scotty6986 schrieb:
Yes, I trained as a painter but never completed it. Unfortunately, I’m now disabled and can’t do much myself anymore. Sure, I could paint a wall again or lay a floor if I had a lot of time, but that’s really pushing my pain limits. That’s one of the reasons I now drive a taxi for my father’s business. I wanted to take over the company eventually anyway, and he’s 66 now and deserves a peaceful retirement (and his semi-detached house, and no, there’s probably nothing to inherit there) :p It’s not so simple in this industry anymore. More like begging on wheels, judging by my salary. My partner could probably find something else, but whether it would pay significantly better is another question. Sure, you can always make an extra €100-200, but you can’t exactly work magic with that. Personally, I wouldn’t trust myself to handle a construction project anymore. But of course, if anyone feels up to it, go for it =) Bad luck living so close to Hamburg. You’re more fortunate if you grow up in a village or rural area. Then you usually have a better overview of available plots, might inherit land, or get a parcel from Grandpa Brass at a nice barbecue. Having land already is a huge advantage.
Hamburg and the surrounding region are currently experiencing a real construction boom. Everyone is moving out into the outskirts; people are building like elves. I’m just a bit late to the game. But starting to plan the end at 35 is surely understandable =) If you don’t want children, I can recommend becoming a nurse. It’s a 3-year training program with about €1,000 (approx. $1,080) monthly training pay, and then she can reliably earn €3,000-3,500 (approx. $3,250-3,800) gross. With bonuses, even more. Plus, it’s a secure job.
H
Hutchinson12313 Jul 2021 07:19Greetings from Stormarn!
How about something like this?
Scout ID: 128771370
I might be able to imagine something like this with you.
However, financing the additional purchase costs does make it quite challenging 🙁
In our area (Ahrensburg and surroundings), you can still find real 3-room condominiums for 300,000–350,000 (currency).
Three years ago, you could even get nice apartments in Großhansdorf for well under 300,000 (currency). At that time, prices here were still relatively reasonable.
Out of desperation, we would have also settled for a condominium, but we were lucky that it turned out to be a townhouse after all.
How about something like this?
Scout ID: 128771370
I might be able to imagine something like this with you.
However, financing the additional purchase costs does make it quite challenging 🙁
In our area (Ahrensburg and surroundings), you can still find real 3-room condominiums for 300,000–350,000 (currency).
Three years ago, you could even get nice apartments in Großhansdorf for well under 300,000 (currency). At that time, prices here were still relatively reasonable.
Out of desperation, we would have also settled for a condominium, but we were lucky that it turned out to be a townhouse after all.
Scotty6986 schrieb:
Skilled tradesman, worked a long time as a painter, so everything related to walls can be done by himself. We could still manage the flooring with a few friends. Scotty6986 schrieb:
Yes, trained as a painter but never fully qualified. Unfortunately, I am now disabled and can’t do much myself anymore. Sure, I can paint a wall again or install flooring if I have a lot of time, but then I reach my pain limit. So, somehow?
Let’s summarize again:
Unspecified equity (or did I miss that?) has been used up. For an employee (?), who may have been on reduced working hours (?), but must have had surpluses before (?), otherwise no equity.
Worked for a long time as a painter, so can handle everything with walls. Well, actually only partially trained, but never fully qualified, and now really can’t do much anymore.
Wants to make big steps with a relatively low income, the house must / should be there, not too old, and close to / in Hamburg (probably only the northern part, the south would be cheaper ;-) ).
Someone mentioned trolling and I can understand that :-)
SumsumBiene13 Jul 2021 09:11How much equity was actually “used up”? And why? If I have to manage with 60%, that doesn’t mean I need to touch my emergency funds; it just means I can’t save anything else.
Have you completed any formal education?
By the way, it’s also quite difficult to find something further out in rural areas at the moment... and when it comes to bartering, nothing is given away for free either. We live in northern Schleswig-Holstein, and the asking prices here have also skyrocketed. Salaries, of course, haven’t. By the way, I’m 45… so there’s even less time left.
Have you completed any formal education?
By the way, it’s also quite difficult to find something further out in rural areas at the moment... and when it comes to bartering, nothing is given away for free either. We live in northern Schleswig-Holstein, and the asking prices here have also skyrocketed. Salaries, of course, haven’t. By the way, I’m 45… so there’s even less time left.
@Scotty6986
First of all: I completely understand you! An apartment always involves strong emotions and has to fulfill the need for security. A termination due to owner’s personal use is always a major disruption to a tenant’s personal living situation.
That’s why I get that you don’t want to be subject to such arbitrariness again.
I’m going through something similar right now. My landlord is showing her true colors after we told her, after 10 years in the apartment, that we plan to move out in six months. Suddenly, modernization measures are being carried out on the multi-family building (which has multiple owners), which she had always blocked before. In these six months, there have been more construction sites than in the last 10 years. But of course, that’s her right.
At the same time, she suddenly gets snappy whenever I ask about items on the utility bill. She immediately responded with “Why do you want to know?” 😀 Sorry for questioning a bill you’re sending me.
That made me realize that the owners’ association added an absolutely unnecessary and overpriced TV package when upgrading to fiber optic internet. Naturally, the costs are just passed on to the tenants.
This kind of arbitrariness really annoys me!
So: I understand you!
Now for the big but:
Don’t let your current emotions drive your decisions! Think clearly about the advantages of renting as well.
For example: for the current modernization measures, every owner here has to pay a special assessment of 6,000 euros (about 6,400 dollars). As a tenant, that doesn’t bother me. Could you afford that easily? Even for things that don’t benefit you directly at first.
What’s already been said here: you are currently a tenant (nothing wrong with that), without equity, with a modest income and a relatively uncertain future.
You should exercise some humility.
Of course, some of the prices asked are bold. But you’re not above the rundown place in Norderstedt!
To put it bluntly: the rundown place might even be above your level.
It doesn’t help to compare yourself to your father and what he has built up.
Where does the entitlement come from that you should have the same? I hear this a lot around me and I just don’t get it!
Your father built something up. He was in the right place at the right time and made the right decisions. Above all, he started with a condominium.
So: keep all your options open in your mind for now. And with that attitude, go to the bank and ask about your financing limit.
Nothing is too bad for you. And if it is: you’ll just keep renting. No big deal!
First of all: I completely understand you! An apartment always involves strong emotions and has to fulfill the need for security. A termination due to owner’s personal use is always a major disruption to a tenant’s personal living situation.
That’s why I get that you don’t want to be subject to such arbitrariness again.
I’m going through something similar right now. My landlord is showing her true colors after we told her, after 10 years in the apartment, that we plan to move out in six months. Suddenly, modernization measures are being carried out on the multi-family building (which has multiple owners), which she had always blocked before. In these six months, there have been more construction sites than in the last 10 years. But of course, that’s her right.
At the same time, she suddenly gets snappy whenever I ask about items on the utility bill. She immediately responded with “Why do you want to know?” 😀 Sorry for questioning a bill you’re sending me.
That made me realize that the owners’ association added an absolutely unnecessary and overpriced TV package when upgrading to fiber optic internet. Naturally, the costs are just passed on to the tenants.
This kind of arbitrariness really annoys me!
So: I understand you!
Now for the big but:
Don’t let your current emotions drive your decisions! Think clearly about the advantages of renting as well.
For example: for the current modernization measures, every owner here has to pay a special assessment of 6,000 euros (about 6,400 dollars). As a tenant, that doesn’t bother me. Could you afford that easily? Even for things that don’t benefit you directly at first.
What’s already been said here: you are currently a tenant (nothing wrong with that), without equity, with a modest income and a relatively uncertain future.
You should exercise some humility.
Of course, some of the prices asked are bold. But you’re not above the rundown place in Norderstedt!
To put it bluntly: the rundown place might even be above your level.
It doesn’t help to compare yourself to your father and what he has built up.
Where does the entitlement come from that you should have the same? I hear this a lot around me and I just don’t get it!
Your father built something up. He was in the right place at the right time and made the right decisions. Above all, he started with a condominium.
So: keep all your options open in your mind for now. And with that attitude, go to the bank and ask about your financing limit.
Nothing is too bad for you. And if it is: you’ll just keep renting. No big deal!