ᐅ Young Landowner – Should I Build or Rent?

Created on: 19 Mar 2018 18:53
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AnjaR93
Hello everyone,
I hope I set up this topic correctly; if not, I would appreciate any advice.

A bit about me:
I am 24 years old, trained as an industrial clerk, worked for two years, and will complete a further qualification in business administration this June. So far, I live with my two dogs at my parents’ house, but once school is finished and I have a steady job again, it will be time to move out.
I’ve also been in a relationship for two years, although my boyfriend actually lives about 140km (87 miles) away. He spends so much time at my place that you could almost say he lives here.

Now to my actual problem. I own a plot of land that borders directly onto my parents’ property. It is currently serviced with utilities but remains undeveloped.
On the one hand, I don’t want to move into an expensive rental apartment and “finance a good life for the landlord” (I don’t mean this harshly,...), but on the other hand, I’m unsure if it makes sense to build so early.
Considering that landlords are probably not keen on tenants with two dogs, the question is whether my boyfriend and I would even be able to find an apartment.

I know there are countless online discussions about whether it makes sense to buy a house at a young age, but I haven’t found anyone who already owned a plot of land.

Best regards,
AnjaR93
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Evolith
20 Mar 2018 06:51
It really depends on your mindset. Are you the type of person who can imagine living somewhere completely different? Do you still want to travel a lot? Go to parties every weekend with friends? If so, building a house might not be the right choice for you yet. Besides the experiences mentioned, you’ll simply lack the time and money for other things that young people (oh no, now I feel old) usually want to enjoy at that age.

Can you even imagine living next to your parents for your entire life? Not everyone can or wants to do that.

I would give you the same advice as others. Find a cozy rental apartment, gain experience living together with a partner, and see where your career takes you. Then, after 3 to 4 years, when things are a bit clearer and you have built some financial cushion, you can calmly start considering building a house. The land won’t go anywhere.
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Bookstar
20 Mar 2018 09:47
I would recommend not building right now and instead renting. You’re not necessarily just giving money to the landlord; you also pay interest to the bank when owning a home, and construction costs are at an all-time high.

At your young age of 24, it might be better to enjoy your freedom and see more of the world.

I had the same issue with pets when I had my dog, but you can find people willing to rent to you anyway—it just takes longer to find.

Good luck
kaho67420 Mar 2018 10:45
For me, the question is less about whether I can find a place to live with the animals or whether I will still be paying rent.

What’s more important is how strong the relationship is. Do I want to build a house with this man, and does he want that too? Am I ready to make a serious commitment now, and what does he think? Is marriage possible, and maybe children?

Twenty-four is a good age to have children. So it’s definitely a time to start thinking about what you want in life. Waiting and saving for another two years wouldn’t be a problem. But I wouldn’t stretch it out to five years... Tick tock... 🙂
markus270320 Mar 2018 11:08
I agree with Kaho674; sometimes in our society, it seems almost unrealistic to have children before the age of 30.

By 24, you should have at least a general idea of the direction you want to take. You’re still young, but in five years, there might be some pressure if nothing has happened yet.

So if your partner and environment are right, your finances are in order, and you feel comfortable: go for it! Why not? I’m 29, and we already have three children—and a house. You can take control of your life at a young age, or keep all options open until 35 and end up missing out on some things.

Then usually comes the "closing gate syndrome" :-)
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Evolith
20 Mar 2018 11:11
Here are 30, a 3-year-old child, a man, 3 cats, and a house. Child number 2 is in planning.
So I can only agree with that. You should at least have a general direction before you start thinking about building a house.
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Maria16
20 Mar 2018 11:16
I find the comment completely inappropriate. If it were a man at 24, no one would mention a ticking clock. Maybe the original poster can’t have children, already has one, or for some other reason…

@TE: Have you talked about this with your boyfriend? Or would you prefer to build the house just for yourself and he has to accept it? (I think that would be fine! Personally, I would still wait to see if a partner comes along with whom I can imagine sharing it.)

Edit: I just noticed others are jumping on the same bandwagon after Kaho. Yes, you can think about having a child at 24. But you don’t have to.