Hello dear forum members,
I would be interested in your opinions on the following situation: I currently live with my two teenage kids in a rented apartment with one bedroom for the children. Previously, we lived in a house with a garden, pool, etc. Now there is an opportunity to purchase a semi-detached house (plot size 250 m² (2700 sq ft), living space 130 m² (1400 sq ft) over 3 floors plus a 50 m² (540 sq ft) basement) where construction has already started.
Since the children definitely want to stay in the town where we currently live, I am considering buying this house. If I didn’t have to take the children’s wishes into account, I might also consider other locations where, for example, the garden is larger and the living space is not spread over 3 floors.
It is important to me that the children feel comfortable, so I would accept these compromises and keep in mind that I can still move in the future when the kids have moved out and then realize my own preferences.
And who knows when another opportunity like this will come along.
What do you think? Of course, a lot of work and time goes into this project, and buying a house is not an everyday decision, but as I said, if I were deciding just for myself, I would consider other options as well.
Thank you for your opinions!
I would be interested in your opinions on the following situation: I currently live with my two teenage kids in a rented apartment with one bedroom for the children. Previously, we lived in a house with a garden, pool, etc. Now there is an opportunity to purchase a semi-detached house (plot size 250 m² (2700 sq ft), living space 130 m² (1400 sq ft) over 3 floors plus a 50 m² (540 sq ft) basement) where construction has already started.
Since the children definitely want to stay in the town where we currently live, I am considering buying this house. If I didn’t have to take the children’s wishes into account, I might also consider other locations where, for example, the garden is larger and the living space is not spread over 3 floors.
It is important to me that the children feel comfortable, so I would accept these compromises and keep in mind that I can still move in the future when the kids have moved out and then realize my own preferences.
And who knows when another opportunity like this will come along.
What do you think? Of course, a lot of work and time goes into this project, and buying a house is not an everyday decision, but as I said, if I were deciding just for myself, I would consider other options as well.
Thank you for your opinions!
I would consider the location of the house. Is it in a desirable area where you could sell it again at a good price in a few years? Or is it more in the middle of nowhere, where you would likely sell it at a significant loss? Also, keep in mind additional purchase costs (property transfer tax and notary fees) as well as any possible early repayment penalties on the loan.
Are there no similar houses available for rent in your area?
Are there no similar houses available for rent in your area?
It may be somewhat part of our (German) culture to typically buy a house "forever," but personally, I try to avoid thinking that way as much as possible. A house – and also an apartment – should primarily be tailored to current needs. If that no longer applies, either it is modified, or a new, more suitable house is sought. This approach has worked very well for me so far and, conversely, allows living with as few compromises as possible. So if the house fits your needs right now, then go for it! (Nowadays, you just need to keep in mind that your horizon should be at least 5 years, otherwise you might have to pay tax on any potential capital gain.)
I think it is (among other things) part of "German culture" because the additional purchase costs here are so high. As a result, in many cases, people incur losses when they buy and sell every few years. But of course, there is nothing wrong with that. I myself have moved many times in recent years and am already mentally planning my house after next.
Nela001 schrieb:
It’s important to me that the children feel comfortable, so I would accept these compromises and keep in mind that I can always move again when the kids have left home and then realize my own wishes.
And who knows when such an opportunity will arise again. You currently have three kids, so buy the house—it definitely sounds nice. It reads well. You want it...! You can sell it again and start fresh without children once they’ve moved out. The semi-detached house won’t decrease in value over the years. It’s all for you, and three floors can be designed really well. Later, you can downsize or maybe marry a sheikh. Anything is possible.
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HilfeHilfe7 Jul 2020 21:35Are you considering buying a house for the children because you think they want it? I wouldn’t force anything if the current situation is fine. I also sense a divorce in the background? You don’t have to split yourself up for the children.
Thank you for your helpful answers!
Exactly, this is about starting over after my divorce. The kids are 11 and 13 years old, so they will still be living at home for quite some time. At the moment, they share a room, which often leads to conflicts because they are very different. Of course, that doesn’t mean I have to buy an entire house right away, but the idea of paying rent and never seeing that money again is something I want to avoid, so I would prefer to invest in something permanent. The area is rural but popular, and I think the value will continue to rise.
Additional costs with buying a house are not insignificant here in Austria either. Of course, it’s possible that you won’t get all of your money back if you resell... but who knows, maybe I won’t want to move again anyway.
Exactly, this is about starting over after my divorce. The kids are 11 and 13 years old, so they will still be living at home for quite some time. At the moment, they share a room, which often leads to conflicts because they are very different. Of course, that doesn’t mean I have to buy an entire house right away, but the idea of paying rent and never seeing that money again is something I want to avoid, so I would prefer to invest in something permanent. The area is rural but popular, and I think the value will continue to rise.
Additional costs with buying a house are not insignificant here in Austria either. Of course, it’s possible that you won’t get all of your money back if you resell... but who knows, maybe I won’t want to move again anyway.