Building / buying a house under the circumstances possible?

did you overlook the current savings rate of €1200???? Also, the €950 rent will no longer apply, but about €500 ancillary costs will be added... I don’t see the finances as too bleak right now, BUT...



The expenses are already partly nicely calculated. For example, necessary clothing is missing. Regarding groceries, one should calculate half of the dining out costs since it is not that easy to go from 100% to zero; on the other hand, if you can no longer afford to dine out, you might buy somewhat higher quality and of course more. I definitely also see the child aspect. I explain that further below.

What living expenses did Dr. Klein calculate? Does Dr. Klein know that it is “only” property under WEG? Please google it... the interest rates might be higher there.





I wouldn’t underestimate such a situation!

I see your reasons for wanting ownership rooted in the misconception that you then have no unplanned costs. Mistake: you actually have more unplanned costs with ownership than when you rent.


Here the misconception is mentioned, that renting is throwing money away. However, I see a lower rent than your calculated financing rate. And that will not change anymore. Sure: after 28 years... but I don’t see that your real reason for wanting ownership is like that.
In the same breath, the missing room for the child is mentioned.
So the fact is: I read contradictions and no fully thought-out reasons.
I don’t read that you want a garden, responsibility for property, or comfort enjoyment, etc.

When I then read 3! times a but....



... alternating with...

7!!! times something about friends who have property or people who acquire something



... I don’t see that you understand what has been written to you.

I would advise you or you all not to look at others, but your own situation. It seems to me as if you want to keep up: with getting married, with the house... one starts, then the next follows with property, the third feels under pressure, etc. It is the same with having children. The women/girlfriends have other topics of conversation, then you don’t want to be an outsider and nurture the desire to have children.

That you wonder how this or that person manages it actually shows your thinking, “if he can, then we can too,” but life is not a competition. Also, money is what people lie about most. And if someone inherits, then it is what it is. Then it is.

yes I have read that. I am an accountant and professionally deal with numbers. If someone allegedly has a savings rate of €1200 and on the other hand pays off a €260 car loan and says they pay for cars in cash, I find it hard to calculate. But I defend the OP, we also save alongside for various things and use this savings when needed. Meaning holiday, car, insurances which mostly come at the end of the year. As an accountant, one says to build reserves and then release them and pay when obligations arise. In private life, people like to fool themselves and say they save. Saving is what I had in 12/2017 in the account, what I had in 12/2018, and then the delta. That is what I saved. Cash flow statement

I find ypg's contribution very appropriate, as I personally thought almost the same. Somehow, when reading the posts of the thread starter, I miss the intuitive feeling that building or buying a house is really desirable considering the previous lifestyle. The previous lifestyle is by no means regretted – so why give it up for the idea of homeownership? That is not quite clear to me yet...

I find ypg's post very apt, as I personally thought almost the same. Somehow, when reading the posts of the thread starter, I lack the intuitive feeling that building or buying a house is really desirable given the previous lifestyle. The previous way of life is by no means regretted – so why give it up for the idea of owning a home? That is not quite clear to me yet...

because in the circle of friends everyone talks about everyone who doesn't own property

: Ok, fine
@Notar: Notaries are bound to wording in their certification. Real estate transfer tax is charged at 6.5%. Where exactly does he want to accommodate you, just out of interest. Notarial certification in undeclared work

Why is 6.5% real estate transfer tax (not property tax!!) charged?

Why shouldn't a friendly notary have ideas that the notary fees could be lower?

Just asking that - certainly rather unimportant - on the side.

Are you ready to give up at least part of your quite comfortable life for a house?
I would also see this question in connection with the (non-existent) desire to have children.
If you want to have a child, the house makes sense, life changes anyway, vacations to the Maldives will be canceled anyway.

But if you buy the house now only to find out in 2 years, oh no, we don’t actually need children, you’re stuck with the burden and have to give up something without much benefit.
So, make it clear what makes you happy and what is important to you and make the decision.

Yes, we are willing to do that. Admittedly, we switched late from “why save?” to “we save what is possible” – but why is it no longer considered credible to maintain this approach at an “older age”? Our life goals have changed, so our consumption behavior changes as well. So far it simply was not necessary to manage differently.

Ideally, of course, now (or in 1 or 2 years) we would find a small house with a monthly rate + ancillary costs that are not exorbitantly higher than the current rent – logically, then saving at the current level would simply not be possible.
The desire for a house was triggered not only by the (actually not yet strongly felt) desire for children, but ALSO because, although we live in a new building with very good insulation etc., we would prefer to be completely on our own. But – do I really have to justify here where the advantages of a house compared to a rented apartment lie?

We saved 75,000 in 5 years with somewhat less salary and we were not starving. It’s all a matter of attitude..

That makes me positive If we don’t find anything now (the terraced house is actually out of the question due to the characteristic “condominium in house form” with an administration that has to approve every purchase/sale), then every month we continue to rent is a month in which equity can be saved.

The expenses are partially very nicely calculated. For example, necessary clothing is missing.

What did Dr. Klein calculate for living expenses? Does Dr. Klein know that this is “only” ownership under WEG? Please google… it may be that the interest rates are higher there.

I see your reasons for the desire for ownership in the mistaken belief that you then no longer have unplanned costs.

I don’t read that you want a garden, responsibility for ownership, or comfort pleasure, etc.

It seems to me as if you want to keep up: with getting married, with the house… one starts, then the next follows with ownership, the third feels pressure, etc. It’s the same with having children. The women/girlfriends have different topics of conversation, then you don’t want to be an outsider and foster the desire for children.

Then also the advice: a low monthly homeowners association fee does not protect against costs; quite the opposite, it may mean that giving up management and not adjusting reserves could mean that a five-digit sum must be released for repairs in the short term.

Great post, thanks. I’ll start from the bottom and work my way up.

So first a little anecdote: For the reason that a low monthly homeowners association fee can also be a risk, we dropped out of a condominium purchase some time ago. The building in which the apartment was located had just recently been converted into a house with 3 condominiums. The apartments on the 1st and 2nd floors had just been sold, the apartment on the ground floor interested us. What stopped us? The agent’s statement regarding the monthly fee, reserves, etc., that you just had to agree with the other new owners, they were nice young people in their mid-20s. Mhm no, that was too uncertain for us.

We know what would make us happy about a house. For example, I grew up this way and know and appreciate the comfort a house brings (and also know the effort).
Wanting to keep up really is not our motivation. Yes, there are couples who own property, but the majority of our circle of friends still live renting AND (still?) childless.
Even fewer are married than have children.
Comfort, garden, fewer or no neighbors, no rent in retirement, space, etc. are clearly the overriding reasons. And yes, I am aware that you always put money into a house, so you can’t live completely free of charge in old age. I see that with my parents. Only their maintenance effort has always been and remains manageable, despite living in an old building.
I really did not expect in my first post that I should explain our reasons for purchasing in more detail.

What I meant by the (non- or less) existing unplanned costs referred only to a new building. Or am I wrong in thinking that with a new building you have to reckon later with
- a new roof
- a new heating system
- new windows
than with an older building?

Yes, Dr. Klein knows it is ownership under WEG, as they also brokered the financing of the current owners. The info appeared when we gave the data.

You are of course right that the exact costs for clothing were missing in the calculation.

If someone supposedly has a savings rate of €1,200 and on the other hand pays off a €260 car loan and says they pay for cars in cash, I can hardly calculate.

Wait. I PAID for my cars in cash. The car loan is my boyfriend’s for HIS car. Why he has a different financial background than I do is really private and irrelevant for the question here. Experts themselves have not agreed yet which variant is better in car financing. Is it better to pay off or rent your car monthly (leasing) or buy it all at once? The depreciation and running costs always remain.

I find ypg’s post very fitting, personally I thought almost exactly the same. Somehow I miss in reading the posts of the thread starter the intuitive feeling that building or buying a house is really desirable considering the previous lifestyle. The previous lifestyle is definitely not regretted – so why give it up for the idea of home ownership? That is still not quite clear to me...

I hope I was able to clarify that a bit with this post.

because in our circle of friends everyone talks about everyone who does not have real estate

Wrong. Please don’t draw false conclusions. As explained, the majority in our circle of friends have no property at all.

I like the reasons given, individual and understandable and quite different for another consumer. That is precisely why, in my opinion, no general judgments or condemnations should or can take place; rather, the relevant matters should be inquired about in order to provide and offer individual and sustainable assistance.

The question is anyway, why draw conclusions or deductions at all when you don't know the person behind the thread? Why not ask, along the lines of... could it be that... or simply question this?

Personally, for a final opinion I still have too little information, but I tend to advise considering an existing property rather than new construction, although the purchase of the existing property should not be rushed to ensure the right property is acquired.