ᐅ The situation in the real estate market... unbelievable
Created on: 12 Nov 2019 18:29
R
Reinhard84.2
Hello everyone,
We are currently looking for a property in the Lower Rhine region, which is not a particularly sought-after area, but unfortunately, the prices are not any better than in eastern Germany. When calling several real estate agents, they mentioned up to 50 viewings scheduled for one property. This was for a standard semi-detached house with a somewhat larger plot. I get the impression that as soon as a house has a garden bigger than a chicken coop, the interest is incredible.
Of course, the municipalities are not designating any new building land, as that would spoil the surroundings… (to what extent that is still possible is left to their imagination). This naturally has the convenient side effect that existing building plots and older properties are insanely expensive.
You can probably wait half a lifetime for the supposed recession, falling prices, and available properties. It’s all frustrating and a real pity.
Thanks for listening.
We are currently looking for a property in the Lower Rhine region, which is not a particularly sought-after area, but unfortunately, the prices are not any better than in eastern Germany. When calling several real estate agents, they mentioned up to 50 viewings scheduled for one property. This was for a standard semi-detached house with a somewhat larger plot. I get the impression that as soon as a house has a garden bigger than a chicken coop, the interest is incredible.
Of course, the municipalities are not designating any new building land, as that would spoil the surroundings… (to what extent that is still possible is left to their imagination). This naturally has the convenient side effect that existing building plots and older properties are insanely expensive.
You can probably wait half a lifetime for the supposed recession, falling prices, and available properties. It’s all frustrating and a real pity.
Thanks for listening.
M
Matthew0320 Nov 2019 15:39Farilo schrieb:
Would I enjoy it if I still owed 100k? Definitely. If I owed 120k? I think so. If I owed 350k? Wow... That burden would hang over my head like a sword of Damocles. You see, that’s exactly where people differ. For me, it doesn’t matter at all whether I owe 100k or 300k, so I don’t sleep any better or worse, and I don’t go on vacation more or less—the payment amount is the same, after all. And that’s what matters to ME in everyday life.
Matthew03 schrieb:
You see, that’s exactly where people differ. For me, it doesn’t matter at all if 100k or 300k is outstanding; it doesn’t make me sleep better or worse, nor do I take more or fewer vacations... the payment amount is the same anyway. And that’s what matters to ME in everyday life. I see it the same way; it’s just a number and doesn’t affect my life.
@Farillo: I assume you inherited this. It’s difficult to listen to you because you can’t really understand what it’s like to build something up on your own.
Matthew03 schrieb:
You see, that's exactly where people differ. For me, it doesn't matter at all whether I owe 100k or 300k; I don’t sleep better or worse, I don’t go on vacation more or less... the monthly payment is the same anyway. And that’s what matters to ME in everyday life. See? That’s where I agree with you. People really do differ a lot in that respect.
Your perspective is valid. Mine is too.
Although I have to admit, I find it hard to believe. That you sleep just as well whether you have to pay off 300k, 100k, or even 20k...
How would you know?! I mean, have you ever slept in your own home knowing you don’t have a mortgage anymore? Maybe you have...
But okay. Let’s leave it at that.
N
nordanney20 Nov 2019 15:49Farilo schrieb:
Of course, I’m open to counter calculations. Bring them on. Net income €4,000 (thousand) including child benefits (without Christmas or vacation bonuses); if you include those, it’s €4,400 (thousand) annually.
New mortgage financing €350,000 = €1,300 monthly.
House additional costs (utilities, maintenance, etc.) = €250 monthly.
One car = €250 monthly.
Kindergarten for one child = €200 monthly.
Living expenses = €1,400 monthly.
Insurance = €200 monthly.
Total: €3,600 monthly.
==> Savings/vacation/leisure = €800 monthly.
Where are the worries? The house payment stays the same, for example, for 20 years.
Or as a renter for a 100 sqm (1,076 sq ft) apartment in the Lower Rhine region (not exactly the center of the world, but reasonable and for example close to the Ruhr area or Düsseldorf), with the same quality as the house:
Rent excluding utilities = €1,000 monthly.
Apartment additional costs (utilities, maintenance, etc.) = €200 monthly.
One car = €250 monthly.
Kindergarten for one child = €200 monthly.
Living expenses = €1,400 monthly.
Insurance = €200 monthly.
Total: €3,300 monthly.
==> Savings/vacation/leisure = €1,150 monthly, decreasing by 2% each year due to regular rent increases.
==> Minus €875 monthly savings rate, to save as much as the homeowner.
Who really sleeps better? Obviously the homeowner, because they don’t actually have less money (they save a lot through loan repayment) and they feel like they live better (which is obviously subjective).
Bookstar schrieb:
I see it the same way; it’s just a number and doesn’t hold any value for my life.
@Farillo: I assume you inherited it. It’s hard to listen to you since you can’t possibly know what it’s like to have to build something yourself. Hi Bookstar,
I really admire that. Honestly.
For me, debt has always been very significant. Maybe even too significant. Perhaps.
No, I didn’t inherit anything.
By chance, I was able to get a property very cheaply. But it’s not a villa or anything like that. Built in the 60s, very small and far from perfect, but with a very nice plot of 1000 sqm (10,764 sq ft).
A few years ago, I faced exactly the same decision as many here. I had a house in mind costing over 500k and was about to buy it, with all the consequences.
Thank God I decided against it.
-XIII- schrieb:
In a new build, your repair-related risk is extremely limited for the first 5 years, as this period is covered by the warranty. After that, of course, the property will be sold again. Reason says: if you are building your third house for yourself, then logically you should aim to build your fourth and so on as soon as possible. But it feels like most home dreamers consider building “just once in a lifetime” as the norm, and even mentioning the idea of building multiple times can provoke deadly looks. This “only once” is clearly an essential part of the dream—similar to having your own foundation slab, which you don’t get with a traditional two-family house or semi-detached house if you “sleep upstairs.” I, for one, wouldn’t want to become a prisoner of my own delusion (holding onto the “homeownership stock” until death do us part). I actually find the idea of regularly changing the wallpaper of your own four walls appealing and am currently happily renting. In “my” perfectly suited area for me, there were no building plots available—even though an inheritance would have allowed it—but instead a rental apartment in a multi-family building from a neighbor from sandbox days (long live the public playground, smile).
Joedreck schrieb:
People prefer to complain until the doctor comes. Above all, people prefer to complain rather than go to the doctor.
Pamiko schrieb:
Another example: we once bought a condominium. The apartment was great, but in a building with 6 units, there was one owner who made life hell for everyone. After a long suffering period, all sold their apartments, including us. That five-sixths of a housing community lets themselves be “evicted” by a single troublemaker is certainly not the norm statistically either.
Farilo schrieb:
I doubt that Scrooge McDuck ever had a better overall life than Donald. At least Donald can do without putting a “KEEP OUT!” sign in his front yard to ward off the Beagle Boys. Huey, Dewey, and Louie have no less fun in the Junior Woodchucks than they would on a private playground.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/