Construction costs are currently skyrocketing

2022-10-23 12:10:53

But this only applies to the few who are lucky enough to get a job at Lufthansa. Please take a look at what Eurowings, Germanwings, Ryanair, or Easyjet pay their pilots. And always remember that usually only one of the two in the cockpit is the captain and earns well. The co-pilot earns significantly less. Anyone who becomes a pilot today does so because it is their dream, not because they automatically get rich from it. Oh, and one more thing: The pilot's license is something like a driver's license. Officially, pilots have no vocational qualification; if they lose their license, they are unskilled in the job market.

2022-10-23 12:28:18

Stupid situation, but the KfW is a regular bank, I wouldn’t hope for goodwill there.
Especially since the argumentation is strange, I also don’t get a discount from the general contractor (GU) because interest rates are high now, nor does my bank generously give me 10% of the amount for follow-up financing.
I had to pay tuition fees back then, and when I finished, they were abolished. That’s just how life sometimes is.

That the KfW adjusts interest rates on such loans according to the market is stated somewhere in the contract or is known. In return, the interest rate is quite favorable and you don’t pay a prepayment penalty.

No offense, but you can’t always just take advantages and when the wind changes, everyone is mean and you hope that someone gives you or waives something.

Well, I would have preferred to do the training without the loan and we would have gotten by with a part-time job and housing benefit. But the office would definitely have considered the money as notional income. There was also a later court ruling stating that it is a loan and not income. But by then, I was already out of the appeal deadline.
“Favorable” is relative and you simply had no choice regarding the interest rates. I would also have preferred to pay 2.5% fixed on ten years from the start.

2022-10-23 12:47:28

Yes, that's right. That's why I still say that buying a house to live in yourself is a luxury and not a worthwhile financial investment.

With the current costs and today's rates, I see it the same way. But since we built several years ago, it was definitely a worthwhile investment for us in retrospect. For example, we pay a rate of €700 per month for a detached house with 140 sqm. Our neighbor currently pays €1,200 cold rent for the inhabited semi-detached house with also 140 sqm. And what would I get for €700 rent per month nowadays? Costs for house electricity and heating are less than €50 for us. In which apartment would I have that? If we were still renting, we would have much higher costs.

2022-10-23 15:54:07

On the topic: In our street, quite a few building plots have emerged because the city converted them into building land. Yesterday, potential neighbors were checking out the plot next door to us. I’m amazed that despite the current financial situation, there are so many brave builders. At the plot two parcels down, they started with the foundation and then it was quiet for a long time. I thought they gave up. But no. It turned out they started building without a building permit and have now been slapped with a stop order. :D Next year, we will probably have 3 construction sites in the immediate vicinity on our street alone. Others might curse, but I’m already looking forward to it. I’m just addicted. :p

2022-10-23 18:15:41

Yes, that's right. That's why I still say that buying a house to live in yourself is a luxury and not a worthwhile financial investment.

That really depends. Our rental apartment had almost the same square footage as our own home. We paid about €1100 including additional costs there. Now we have a €1200 installment plus additional costs (I can't give an exact average value yet). Without special repayments, we will be done with the loan when I am in my mid-50s. We will probably live for quite a while after that, and if we don't make special repayments, quite a bit should be saved up by then to go into maintenance or may have gradually gone in. If we do make special repayments, we would be finished correspondingly earlier so that there are more years without installments at the end. Depending on how old I get and how rent would develop, it is definitely worthwhile in our case.

2022-10-23 18:18:08

With us, 80% also want to start as soon as the area is released... It was actually supposed to be in July... Now early 23... Everything has unfortunately been delayed and no one could still take advantage of the interest rate from the beginning of the year :(

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Construction costs are currently skyrocketing

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DaGoodness

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