ᐅ The situation in the real estate market... unbelievable
Created on: 12 Nov 2019 18:29
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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.
Tassimat schrieb:
An annual mileage of 20,000€ roughly corresponds to €175 in fuel costs. Those who commute a lot simply pay more for fuel. That’s clear.
Regarding the investment: A brand-new Polo costs about €12,500. After 5 years, it’s still worth around €5,000 — so half the investment cost.
And if you don’t buy a new car every 5 years but every 10 years, the numbers look better: €12,500 over 10 years compared to €15,000 over 5 years. Even with €20,000 over 10 years, it looks better. If someone needs a new car every five years, they pay extra. A luxury you can afford or not. That’s clear. I didn’t take the time to compare prices in detail.
And if someone wants to argue, they’ll always find some point like “nobody pays the list price” or “leasing a diesel is cheaper if you go with VW”!
By the way, these aren’t made-up figures. They’re mine. Not a Polo, but a compact car for a working woman who can’t take a company car home.
And if an employee has a daily commute of 20/30 km (12/18 miles) each way, they rely on their car to work properly—not to turn into a deceptive deal or surprise expense.
Whether anyone here relates or not: it doesn’t matter. The standard allowance is €500!
We don’t need to discuss every vehicle used by everyone. If the wife’s second car is only driven once a week, an older small city car is certainly enough.
Scout schrieb:
For households with four or more members, a net household income of 5K or more is not as uncommon as you might think:
This includes the income of all working members in a household, as well as rental income, investment income, social benefits, and child allowance/parental allowance. That’s the unclear part: with three children, you have a difference of 600€ (about 650 USD) in child allowance and 300€ (about 325 USD) in building child benefit, adding up to 900€ (about 975 USD) difference compared to the monthly net salary, which is probably the key figure in financing. If you also include parental allowance, Christmas bonuses, performance bonuses, etc., you easily reach a difference of 1,500€ (about 1,625 USD) or more.
Bookstar schrieb:
With a loan amount of 500,000 euros, the current installment is about 1,100 euros (1.5% repayment)Hi Bookstar, Did you make a mistake with the loan amount?
Or is it really possible to get 500k for 1,100 monthly payments at the moment?
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nordanney21 Nov 2019 12:34Farilo schrieb:
Or is it really 500k for 1100 monthly right now?It can be done for less...Farilo schrieb:
Hi Bookstar,
You made a mistake with the loan amount, didn’t you?
Or is it really 500k for 1100 monthly? 2% repayment, 0.5% interest, 10 years equals 1041€ (about $1120) per month. Whether that's a good idea is another question.
Interest rates have dropped significantly since mid-year. This means the homebuilder quickly has over €50,000 (around $54,000) more budget available—if they want to use it.
Farilo schrieb:
Hi Bookstar,
You made a mistake with the loan amount, didn’t you?
Or is it really 500k for 1100 monthly? No, it is really that affordable, calculated with a 20-year fixed interest rate and 1.5% repayment. A realistic financing option in my view.