ᐅ Psychology of Buying / Overcoming Obstacles

@HilfeHilfe Definitely impossible in Frankfurt itself, but I’m not interested in living there anyway. However, in the surrounding area about 45-50 km (28-31 miles) outside might be possible, as long as it’s not right next to the highway – at least that’s my impression.

saralina87 schrieb:

What is the absolute worst-case scenario if you find a suitable plot/house tomorrow and just decide to buy it?

Thoughts going through my mind are things like: miscalculation, hidden construction defects, possibly overlooking expensive renovations in an existing property.

I think my real problem is the “time pressure” that comes with buying an existing property, or generally from external sellers and buyer competition. I need time to think everything through. I don’t like buying based on a “gut feeling.”

Maybe it makes sense to first look for a building plot and buy that? Then at least I wouldn’t have that decision pressure. Could I still sell the plot later or would that incur “ongoing large” costs?

Unsure schrieb:

It already starts with us not being able to agree on either a condominium or a house.

... because you probably prefer a house, but due to the developer’s involvement with apartment buildings and condominiums, you feel more secure against construction disasters?

Unsure schrieb:

A house would be nice, but since we have no experience with building houses, we are hesitant about the stress involved and always think of the typical horror stories.

There’s also the option of a resale property.

Unsure schrieb:

A condominium would, due to the shared ownership, feel like it lowers the risk for us and offers a better location.

I see the option of a terraced house as a starter property here. Safety through standard construction, but a unit of your own. This works quite well if you handle it individually.

Unsure schrieb:

I don’t see it as such a critical life decision.

Yes, people can always change. That can happen without loss if there’s no amateurish decrease in property value, good location, and proper maintenance.

Unsure schrieb:

It’s just the fear of making mistakes that could cause real financial damage.

See above.
But if you should lose 20,000 to 30,000, it’s always just money - which is less critical for those who can afford a house than for people without income.
Let me put it this way: an unplanned divorce is more expensive.

Unsure schrieb:

Personally, I’m more of a “lone wolf” and continuous coordination with others sounds exhausting to me, if necessary.

A lone wolf doesn’t always have a different opinion and isn’t necessarily unwilling to compromise. There are also lone wolves who are open to compromises.

Unsure schrieb:

I actually do want to, since I would like to spend my retirement abroad with my wife – it’s like jumping into cold water, only here it’s very cold and you can easily put your foot in your mouth.

You can always do that later. We will probably rent later on. For now, ownership suits us. For us, it’s not an investment but simply a way of living in a house without compromises (except those we make ourselves).
As people get older, they become more relaxed and focus on other matters. Later on, a different location, for example more central or by the coast, could be worth considering, but usually isn’t affordable.
But that’s a thought to pursue later. If I were you, I would first assess your current situation and medium-term future; everything else is an option—and you have plenty of those.

Unsure schrieb:

Thoughts running through my mind like: miscalculated costs – concealed construction errors, etc., possibly an expensive renovation overlooked in an existing property.

Frustrating, but not a disaster. Correcting the mistakes is achievable, and not every decision has to involve such issues.

Our children bought a house last year. They originally wanted to build but never managed to secure a plot of land. They were quite uncertain about the house, even though it is a great and high-quality home. They purchased it and have since changed almost everything inside using their own labor, and they are also happy despite discovered issues (electrical work, basement). They are happy despite minor problems that can be fixed. But happiness is also something you have to take into your own hands.

Unsure schrieb:

@HilfeHilfe In Frankfurt it’s clearly impossible, but I don’t want to live there anyway. However, somewhere around 45-50 km (28-31 miles) outside the city might be possible, as long as it’s not extremely close to the highway – at least that’s my impression.

I have concerns like: miscalculated costs, hidden construction defects, or maybe expensive renovations overlooked in an existing property.

I think my real problem is the "time pressure" that comes with buying an existing home, especially from external sellers or in a competitive market. I need time to carefully consider everything. I don’t like making decisions based on "gut feeling."

Maybe it makes sense to first look for and buy a building plot? That way, I wouldn’t face that kind of pressure? Could I still sell the plot later, or would there be ongoing significant costs involved?

I think the idea of buying a plot of land is great.

Unsure schrieb:

I think my real issue is the "time pressure" that arises when buying existing properties, or generally from external sellers or competition among buyers.

Here, too, it helps to stay calm and assume that no offer is unique. Also, have the confidence to say: "I really like the property. However, I never give spontaneous answers. I can decide within 5 days. With me, you will have a reliable buyer without later financing disputes – as is often reported by stressed sellers*. Let’s take our time, and everything will be fine."
*Having a bit of doubt can sometimes be very helpful.
Always firmly decline when under pressure.