Good day, fellow enthusiasts!
I registered here today hoping to get some opinions from you on my plans.
We are a family of four with a good income. My younger son is still a student, the older one is 24 and already earns his own money but still lives with us.
Ten years ago, I bought a quiet 5-room apartment close to the city center in a building with 22 units, which is still being financed. The apartment cost 140,000 back then. I estimate the current market value to be between 190,000 and 220,000. Last year, 3-room apartments here sold for around 160,000.
At that time, I was rather naive, and now I regret that every small decision has to be voted on, the property management doesn’t perform its duties properly, and the reserve fund is increased every year. So far, we have saved 330,000 in reserves without any specific plans, but still, we are expected to pay more each year. I have come to see it this way: my house, my money, my responsibility. I prefer to be on my own.
I am therefore considering either buying a house of a similar size and renovating it or building a new one. I am able to contribute some work myself (electrical and plastering).
My problem is that I’m hesitant—I don’t know how to approach this and whether I might be making a mistake. I am completely undecided.
Are there people who have been through something similar and can share their experiences? What would you advise? How should I approach this? Or should I just accept the status quo?
I registered here today hoping to get some opinions from you on my plans.
We are a family of four with a good income. My younger son is still a student, the older one is 24 and already earns his own money but still lives with us.
Ten years ago, I bought a quiet 5-room apartment close to the city center in a building with 22 units, which is still being financed. The apartment cost 140,000 back then. I estimate the current market value to be between 190,000 and 220,000. Last year, 3-room apartments here sold for around 160,000.
At that time, I was rather naive, and now I regret that every small decision has to be voted on, the property management doesn’t perform its duties properly, and the reserve fund is increased every year. So far, we have saved 330,000 in reserves without any specific plans, but still, we are expected to pay more each year. I have come to see it this way: my house, my money, my responsibility. I prefer to be on my own.
I am therefore considering either buying a house of a similar size and renovating it or building a new one. I am able to contribute some work myself (electrical and plastering).
My problem is that I’m hesitant—I don’t know how to approach this and whether I might be making a mistake. I am completely undecided.
Are there people who have been through something similar and can share their experiences? What would you advise? How should I approach this? Or should I just accept the status quo?
Why?
So, we currently have about 80,000 per year. We’ve gotten used to that. Retirement means around 50,000. Okay. The 80,000 is before taxes, so a fair amount goes toward taxes. With 50,000 there are fewer deductions. Still, I don’t want to keep making payments because we’ll have to get used to less anyway.
So, we currently have about 80,000 per year. We’ve gotten used to that. Retirement means around 50,000. Okay. The 80,000 is before taxes, so a fair amount goes toward taxes. With 50,000 there are fewer deductions. Still, I don’t want to keep making payments because we’ll have to get used to less anyway.
Nordlys schrieb:
Why?
Well, we currently have around 80,000 per year. We’ve gotten used to that. Retirement means it will be around 50,000. Okay. The 80,000 is gross, so quite a bit goes to taxes. With 50,000, fewer deductions. Still, I don’t want to keep paying off debts because we’ll have to get used to less anyway.I am referring to the MUST!
What each person does individually is up to them.
For example, my husband will have more than he does now. What do you think the automotive industry pays for supplementary pensions?!
So, I have no problem with us still paying 300€ and a cookie.
For self-employed people, it’s even different: many work until they are 70 or so… so why not include this age in the calculation?
Or retirees… I have the feeling many think you HAVE to be done by then, as the quote above suggests.
That sounds great to you, but some of us will have to expect deductions. We do, too.
The emphasis on “have to” also refers to the fact that there will simply be less available once retirement begins. If then something like 300 to 400 euros is realistic, I agree with you. But not with a monthly payment of around 1,800. Even if the benefits will probably be lower (if you can always trust what all retirees say...)
Anyway, I can put it another way:
The biggest financial burden needs to be paid off by retirement age – for ME! I don’t want to have to restrict myself too much.
The main point remains: building a house has nothing to do with age 😉
The emphasis on “have to” also refers to the fact that there will simply be less available once retirement begins. If then something like 300 to 400 euros is realistic, I agree with you. But not with a monthly payment of around 1,800. Even if the benefits will probably be lower (if you can always trust what all retirees say...)
Anyway, I can put it another way:
The biggest financial burden needs to be paid off by retirement age – for ME! I don’t want to have to restrict myself too much.
The main point remains: building a house has nothing to do with age 😉