Condominium for 460,000 euros and a 37-year loan term?

2018-08-14 06:54:14

Has anyone actually noticed that this is about a condominium? In addition to the installment of €1221, there is also the usual Hausgeld and the typical additional costs that still have to be paid. So where are we at, around €1700 in total? So nothing with a max of €1200, right?

That leaves you €2000 to live on. Out of that, daycare/kindergarten has to be paid for twice, cars, vacations, living expenses, insurances, occasional purchases, etc. I don't find that very appealing.

The property will probably mean a lot of discipline and sacrifice for you.

or sacrifice the part-time

2018-08-14 07:05:05

Has anyone actually noticed that this is about a condominium? In addition to the installment of €1221, there are the usual Hausgeld fees and the typical additional costs that still have to be paid. So where do we stand, at around €1700 in total? So nothing like a max of €1200, right?

So you have €2000 left to live on. From that, twice daycare/kindergarten has to be paid, cars, vacations, living expenses, insurance, occasional purchases, etc. I don't find that very appealing.

The property will probably mean a lot of discipline and sacrifice for you.

Sorry for quoting myself.

But the fact is that rents will increase. No one should have any illusions about that.

There is nothing against owning a property with the equity you have, but does it have to be this one?

2018-08-14 08:53:44

Purchase price apartment: 400,000 euros
- Modernization costs: 60,000 - 70,000 euros

Such high modernization costs suggest an old building.
What exactly do you want to modernize?

How high is the monthly maintenance fee (also in the last 3-4 years)? And how much of it is reserved for maintenance?
Have special assessments been decided in the last 3-4 years?

2018-08-14 22:57:09

On the other hand: What alternatives do we currently have in big cities?

Increasing working hours to 100%.
Childcare should work better in a big city than in the countryside.
Otherwise, buy an 80% property. Means: smaller, cheaper condominium.

2018-08-14 23:28:26

I wouldn’t put up with such a long term. Simply on principle not.
A long period always also means more potential for the unexpected
Look for cheaper alternatives, either smaller (which can be difficult with children), no renovation/repairs needed, look outside the center

How important is the offer actually?
Big city always means a lot of buyer competition, will you even get the apartment?
What do the alternatives look like, do or did they even exist at all?

2018-08-15 08:07:15

Which major city is it? Maybe the apartment there is overpriced or the prices are plummeting?

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Condominium for 460,000 euros and a 37-year loan term?

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