Construction costs are currently skyrocketing

2022-05-03 12:12:51

Sorry, but I'm not moving away from my main place of life where friends and family are just because I want to have a house.

Basically, you are right, but I wouldn't limit it to just "wanting to have a house." Living nicely would have been enough for us, but you just can't get that here in Konstanz anymore. A 3-room apartment in a smaller house in a quiet area would cost more than building an entire house with a garden and land. If you can even get something at all, that kind of stuff hardly ever comes onto the market. I wouldn't move 500 km away just because there are cheap houses somewhere. But 40 km is still okay, you can still visit friends easily.

2022-05-03 12:28:33

Well, 40km was not mentioned, but rather a different federal state, etc.

2022-05-03 12:34:33

At the moment, many craft businesses also just want to earn some extra money again. The motto is: If everything gets more expensive, so can I. Offers from November, which were only updated again in March because the client couldn’t decide earlier, are increased by 20%. And mind you, this is not about material costs or labor costs being passed on! The concrete case now was a heating technician who was supposed to replace the gas boiler with a new one. Without solar thermal or any frills. Besides the costs for the boiler, he also increased the costs for installation, filling, pressure testing, etc. - in the end, almost every item was increased by about 20%. Simply because he can. This wasn’t with me personally, but I have seen the two offers. Some might say that’s how the market is, but one could also call it ruthless extortion because the customer simply has little to no choice – most only serve existing customers. Regarding real estate prices, we are now also seeing that many private sellers, but also agents, just demand absurd prices for existing properties – but again, these properties don’t sell or only after a long time. Since we have also looked at some houses recently, it’s noticeable here as well that not just any junk will sell at any price anymore. Especially buildings in need of major renovation. Because of the current situation in construction and rising interest rates, banks have also become cautious. For a property in the neighborhood, financing fell through twice because the bank said it is worth significantly less and the equity portion is too low to cover that. On the other hand, move-in ready single-family homes without renovation backlog are still selling like hotcakes, since buyers have to pay high prices here too, but at least energy costs are manageable and there are no risks or uncertainties regarding renovations – at least that was the statement from a broker friend last week. People are now more and more looking for security when buying because renovations and new constructions are harder to plan.

The market has turned dramatically. It used to be a buyer’s market, now it’s a seller’s market. Previously, the craftsman had to compete with dozens of others and only got acceptance after the tenth offer. Now, he gets almost any price paid. I don’t find it ruthless. Because in the past, "stinginess is cool" was simply the rule when looking for craftsmen.

2022-05-03 13:51:30

I am moving to a new federal state right now, precisely BECAUSE we are looking for proximity to family and want to refocus our center of life to where it belongs. We are lucky that the family lives in the middle of nowhere.

But I can understand people who do not want to move 100 km away just for home ownership.

2022-05-03 13:55:13

I am currently moving to a new federal state precisely BECAUSE we are looking for proximity to family and want to refocus our lives where they belong. We are lucky that the family lives in the middle of nowhere.

But I can understand people who don't want to move 100 km away just for homeownership.

Wasn't the reason for the move something else? You wouldn't move if it weren't for the neighbors, would you?

2022-05-03 14:00:12

Sorry but I'm not moving away from my main place of life where friends and family are just because I want to have a house.

Uh, why not? Why so narrow-minded? You can quickly find a new main place of life elsewhere too. This is typically German inflexibility - that's what we're known for in the world.

Construction costs are currently skyrocketing

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