Hello everyone!
A few months ago, I came across this forum and I have to say I’m very glad I did. There is so much information and input here—things that "normal" people usually don’t consider when buying or building a house.
First, a bit about us: I’m 27, currently on parental leave, and will return to full-time work in February when our son turns 1 year old. My husband is 35 and started his own business in August. We live near Lake Constance, close to the Swiss border. Before he became self-employed, we had a combined net income of €4,300 (about $4,700) and thought that would be enough to buy or build a house. Now we know that our equity of just over €40,000 (about $44,000) would barely cover additional construction costs or even property transfer tax.
Among our circle of friends and acquaintances, many are taking out loans of €300,000 (about $330,000), and I worry that their plans might fail due to their limited knowledge. They have no equity, weddings or children are still planned, and they also have car loans, leases, and so on.
For now, my husband has taken the step of self-employment, and we’re already satisfied. In a few years, we’ll have a clearer picture. Until then, we’ll keep working, saving, and maybe one day we’ll be proud homeowners. One thing I know for certain now is that not everyone can or has to afford to own a house!
Best regards
A few months ago, I came across this forum and I have to say I’m very glad I did. There is so much information and input here—things that "normal" people usually don’t consider when buying or building a house.
First, a bit about us: I’m 27, currently on parental leave, and will return to full-time work in February when our son turns 1 year old. My husband is 35 and started his own business in August. We live near Lake Constance, close to the Swiss border. Before he became self-employed, we had a combined net income of €4,300 (about $4,700) and thought that would be enough to buy or build a house. Now we know that our equity of just over €40,000 (about $44,000) would barely cover additional construction costs or even property transfer tax.
Among our circle of friends and acquaintances, many are taking out loans of €300,000 (about $330,000), and I worry that their plans might fail due to their limited knowledge. They have no equity, weddings or children are still planned, and they also have car loans, leases, and so on.
For now, my husband has taken the step of self-employment, and we’re already satisfied. In a few years, we’ll have a clearer picture. Until then, we’ll keep working, saving, and maybe one day we’ll be proud homeowners. One thing I know for certain now is that not everyone can or has to afford to own a house!
Best regards
B
Bauexperte26 Nov 2014 16:16Hello,
I am very glad that the forum and its users were able to help you with your decisions. The fact that building a house might be tight at the moment does not mean it has to be postponed forever. On the other hand, no one knows what your husband’s self-employment will bring. Maybe in a few years, an opportunity will arise for a move "just around the corner," and you will be glad you did not build. Who can say for sure? 😉
It is definitely a wise decision to gather information online before starting any construction project; afterwards, it is usually too late to change course.
I am keeping my fingers crossed that your husband’s courage (and yours as well) will be rewarded!
Best regards, Bauexperte
dalilabw schrieb:I am very grateful for this statement because when I write it, I often encounter a lack of understanding.
I now definitely know that not everyone can and must afford to build a house!
I am very glad that the forum and its users were able to help you with your decisions. The fact that building a house might be tight at the moment does not mean it has to be postponed forever. On the other hand, no one knows what your husband’s self-employment will bring. Maybe in a few years, an opportunity will arise for a move "just around the corner," and you will be glad you did not build. Who can say for sure? 😉
It is definitely a wise decision to gather information online before starting any construction project; afterwards, it is usually too late to change course.
I am keeping my fingers crossed that your husband’s courage (and yours as well) will be rewarded!
Best regards, Bauexperte
B
Bauherren201426 Nov 2014 21:10Hello dalilabw,
I also find it very nice when someone who has only been a quiet reader so far thanks the forum for the information in their first post here. Even though I tried to gather comprehensive information myself before building my house, this forum has helped me repeatedly—not only before the construction but also during and even after (although I remain a quiet reader on many topics). Therefore, I would like to join in thanking everyone.
This sentence was the first thing that caught my attention as well. I fully agree with Bauexperte’s and your opinion. Owning a home is a luxury and will always remain so. From my own circle of acquaintances and various forums, I also know that some people see it differently, and I fear that at least some of them will eventually have to face the consequences.
Dear dalilabw, above all, I wish you to be satisfied and happy. If you are happy with your current situation for now, then I believe your path so far was the right decision. And in a few years, when your financial and professional situation has stabilized, you may be able to approach the house-building or buying project without worries and more relaxed. I would wish that for you.
I also find it very nice when someone who has only been a quiet reader so far thanks the forum for the information in their first post here. Even though I tried to gather comprehensive information myself before building my house, this forum has helped me repeatedly—not only before the construction but also during and even after (although I remain a quiet reader on many topics). Therefore, I would like to join in thanking everyone.
dalilabw schrieb:
I now definitely know that not everyone can afford a house, and not everyone has to!
This sentence was the first thing that caught my attention as well. I fully agree with Bauexperte’s and your opinion. Owning a home is a luxury and will always remain so. From my own circle of acquaintances and various forums, I also know that some people see it differently, and I fear that at least some of them will eventually have to face the consequences.
Dear dalilabw, above all, I wish you to be satisfied and happy. If you are happy with your current situation for now, then I believe your path so far was the right decision. And in a few years, when your financial and professional situation has stabilized, you may be able to approach the house-building or buying project without worries and more relaxed. I would wish that for you.
Thank you for your kind words! I am also optimistic. My profession in healthcare is one of the most secure. Although I have good disability insurance, I hope it will be sufficient. I just signed a permanent full-time contract, and due to the changed tax class, I take home the same amount as I did in my management position before pregnancy, but now I’m closer to my child.
My husband took the leap into self-employment because a salaried position at a law firm is only a temporary step, and his two specialist lawyer qualifications were not adequately compensated, while management heavily promoted his work.
In five years, we will know the numbers; childcare and daycare costs, as well as the car loan, will be gone. I am quite comfortable with not building in my very young years. This way, we will have a younger house when we retire and will benefit from better financing terms thanks to higher equity.
Until then, I will stay active in the forum and keep informed.
Best regards
My husband took the leap into self-employment because a salaried position at a law firm is only a temporary step, and his two specialist lawyer qualifications were not adequately compensated, while management heavily promoted his work.
In five years, we will know the numbers; childcare and daycare costs, as well as the car loan, will be gone. I am quite comfortable with not building in my very young years. This way, we will have a younger house when we retire and will benefit from better financing terms thanks to higher equity.
Until then, I will stay active in the forum and keep informed.
Best regards
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