Build or not? What do you think about it?

hi,

well, I also manage about 500 apartments and only have 3-4 people who cause problems. It can go well, but it can also go wrong. That's what I wanted to tell you.

If you have already found "Frau Elektriker", then this consideration is off the table. But calculate it well and think about the problems a landlord could have. You will surely find a lot about it on the WWW.

I guess you will do the right thing. If you become landlords, I wish you only nice, kind, and willing-to-pay tenants who don't cause any problems.

Regards Bromi

Hi, thanks a lot for all the tips! I think the best thing will be to save for another 2-3 years so that we have more equity, maybe I can get the 70-80,000€ together, that should be doable. From next year on, I can probably save an extra 200€ per month as my gas guzzler will be gone and I’ll have to get something more economical, maybe get rid of one of my two motorcycles as well, and whatever I save on expenses, I’ll put aside for the house. In the meantime, we can really think about what kind of house it should ultimately be, maybe just a two-family house with an extra large garden and a big garden pond, I’d like that too. What I also wanted to say, because parties were mentioned here, my girlfriend and I are not the kind of people who have to party all the time, we’re more the quiet type who like to chill out sometimes, go for walks or just do small day trips. Sure, we party sometimes too but there has to be a reason for it, I don’t get drunk for no reason and when we do, we don’t overdo it. Well, of course you don’t know what the potential tenants will do. Best regards Christian

hi,

so with us it’s not tenants doing that, but our direct neighbors. Constant parties and full volume no matter how late it is. On top of that, noise or loud music during the day. Really selfish people.

Therefore, I won’t even think much about whether I might sell my current house after all. Who knows who will move in there and fill the gaps our neighbors sometimes allow us.

Regards Bromi

Morning Christian, now I can also add my two cents... (= In my current rental apartment (4-family house) I also experienced something that wasn’t so nice – the neighbor was always friendly, well dressed, neat and so on... Suddenly she moved out – that was the big awakening: my landlady had to file an eviction lawsuit because the lady and her children hadn’t paid a cent of rent! And when my landlady saw the condition of the apartment, she cried! The amount of garbage they took out – unbelievable... What I want to say with that is that unfortunately you can’t look inside tenants from the outside... I’m also building at 24 (and without a partner!), the plan had already matured at 22, that’s when I started to find out what was possible, even at my age and in general. At 23 I acquired my plot of land and since 04.05. my house has been under construction, so it’s not completely impossible. My motivation for building a house in my "young years" was that I have been paying rent for 7 years now, don’t want to keep getting annoyed by my lazy Hartz-4 neighbors anymore, so basically I want my peace, and I want to provide for my old age… I basically made to-do lists with the headings "Pro-/Contra-Housebuilding," afterwards (for house planning) "What is important to me?"... It would really be too much for me if I had someone else living in my house with me, you have to restrict yourself then anyway... I also have 1145 sqm of land because I think it’s really great for possible growth if you have a big adventure garden where you can plant and harvest your own tomatoes/strawberries. Regards Danie

Hello,
so my wife and I completely renovated a house. At the front, there are three apartments (ground floor 100 sqm, 1st floor 95 sqm, and attic 65 sqm) and behind it, there is a small house (120 sqm). We live in the house at the back. The three tenants pay our financing installments, i.e., we live rent-free. Sounds good, but you have to keep in mind that owning a property involves a lot of work and quite some costs. But I think you have to think ahead, especially nowadays, because owning property is also a good retirement provision once the financing is completed. So we absolutely do not regret it. Above all, I know what I’m talking about because I am a real estate agent and work as a construction consultant professionally. If you have specific questions, I am happy to help you. Best regards, Marco

Hi! then you still have room for your children and at first lots of garden, lay down a lawn, better buy a riding mower and that's that

I agree (= (see above!) BG