Construction costs are currently skyrocketing

2022-06-02 15:49:30

From the discussion, you can see the different ways of thinking about the path to retirement or being in retirement. It would be interesting if the age of the person was shown behind the posts. At 40, one may have a different life plan than at 50 or already 60.
I also enjoyed going to work, but my view changed as I got older. I wish everyone to be content in old age and to have found the right way of life for themselves. This also includes clarifying the asset situation. Rent or loan repayment would already consume a part of the pension.
My wife and I built once more after turning 60. Today we live in a new 90 sqm bungalow (KfW-efficiency house 55EE). Additionally, there is a heat pump and a 13.68 kWp photovoltaic system and the best insulation. Our future costs for electricity and heating will be zero thanks to the feed-in tariff. Repairs or renovations will remain foreign words for years.
The garden was set up with an irrigation system and a robotic mower. Since 2018 we have had a new large motorhome and often go on trips. Thanks to 2 children and 2 grandchildren as well as friends, we do not know boredom.
We have no liabilities and also still have sufficient cash on the account. Now we just have to stay reasonably healthy. We are satisfied.

Goal achieved, I would say. Congratulations!!
I am now almost 40 and able to live comfortably with our average incomes and will have paid off our house before the end of our 50th year. That should also give us the security to continue being content in the future.
I probably wouldn’t feel good spending my retirement in a worn-out property or having to watch every cent to keep the house in decent shape.
I also find the new 90 sqm bungalow a very interesting form of living in old age. I would quite like it too. But my wife would probably prefer, as of now, to stay forever in our little house. We’ll see, at least we have several options with a house paid off early.

Edit: Health and contentment are, however, the most important things. Everything else is luxury.

2022-06-02 17:06:26

To do justice to the matter, one should distinguish between the "older" and "younger" construction generations (not vintage!). From the individual forum posts and personal perception within the circle of friends, it becomes apparent that with the current construction prices (including land), almost everyone is close to the EUR 600k mark.

Assumption: Construction at 30 years old
Equity: EUR 100k (which is not little for an average earner at this age)
Constant annual repayment without special repayments (calculated without interest!)

To have fully repaid the loan in 20 years or by the age of 50, an annual repayment of EUR 25k or a monthly burden of EUR 2,083 is required.

With current interest rates and the rule of thumb of 30-35% of net income for housing... who is supposed to pay that? And then have to listen to... "that would be too long for me, I want to be done by 50."

That is a great view and attitude, but simply no longer feasible for today's construction generation! Even if everyone would like it that way. Alternatively, renting remains an option, although the disadvantages of this have already been discussed (inflation, etc.).

2022-06-02 17:09:26

The fit 70s and 80s on the ski slope or the racing bike are currently not at work, but are healthily enjoying their lives. I know few who work longer, and they are gently smiled at for their old-fashioned views

I believe it is the tasks we need (even in old age), not the work. I can't imagine anyone with children, grandchildren, a garden, hobbies, and no financial worries voluntarily working even 1 second longer than necessary.

2022-06-02 18:31:16

No, I’m doing great and have everything under control. But can you take a look at my PC? It has been broken since last week and I don’t have money for a new one at the moment...

We will be like that too! :) And our children will write and think similarly. We humans are all different. But what rarely changes is yourself, if you have no reason for it. Rather, it is often the case that when you physically notice that vision, sense of balance, acoustics, when the body gets weaker, the will of the inner fight is often seen as senile dementia. The concern for him is misjudged, causing distrust rather than gratitude. It is best to observe the senior but not interfere. We will not want that either. Maybe we should rather change, also the perspective, instead of looking down (from above) at the senior :cool: but I think you already do it that way. I am also practicing it right now. My parents have no worries, I still have their worries ;)

Goal reached, I would say. Congratulations!!

The goal is still far from reached :)

2022-06-02 19:07:08

There are supposedly people who have turned their hobby into a profession – I have had that for 25 years. I will probably pursue my hobby until I kick the bucket. If I still get paid for it, that’s great :)

My father is 70 and still "works" as a CAD designer from his home office. Of course, not 40 hours. But he clearly says: "Why not? I can organize my time freely and do something even on Sundays if it rains. And I even get paid for it"

Of course, this is not a model for all jobs. However, recently I had a gentleman from a moving company here for an offer. He was almost 70 as well. I asked why he still worked in that job at all. His statement: My boss knows that I have expertise after decades in the job – and why shouldn’t I earn a little extra money, that way I get out and among people.

I think many companies also simply and carelessly waste knowledge here.

2022-06-02 20:01:20

My father worked with joy as a master tailor until he was 80. Then our mother forbade him because he became too forgetful to record the orders correctly. I also believe that work (whether with the mind or body or a combination) keeps you fit and thus makes life more enjoyable. I will try to do the same, if I can.

Construction costs are currently skyrocketing

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