Construction financing without equity as an option?

  • Erstellt am 2022-04-30 18:46:25

Bertram100

2022-05-01 16:14:24
  • #1

Although it is known that relevant jobs are very poorly paid.

Your statement is so typical of those who are on the winning side in the distribution of wages. And if there weren’t people doing less well-paid jobs, things would look very bleak in the country and you probably wouldn’t be able to simply live in or have built your house.
 

Pinkiponk

2022-05-01 16:21:34
  • #2

I also find the topic of foreclosures interesting. We would have liked to buy a house from a foreclosure auction or an existing house off the market or a house in need of renovation, anything that supposedly exists ... but the only thing we found was the developed plot of land that we are now building on ourselves. Maybe we searched incorrectly.
 

Neubau2022

2022-05-01 17:25:26
  • #3


I have also done quite a lot for that. As a foreigner, I worked my way up from secondary school to the Abitur. Afterwards, I completed an apprenticeship and started studying. While I only finished my studies in my early 30s and additionally had to pay off xx,000 € in student loans because I paid for my studies and living expenses 100% myself, others have already been working for over 10 years.

And yes, anyone could do that. But many want to start working right after school, which is completely okay. Many are satisfied with what they have, even if it is not enough for a house, which is also totally fine.

Craftsmen earn less but can get many things done through connections (Vitamin B). For example, I know from my circle of acquaintances: while the mason worked on the house for a friend's electrician, the electrician installed the wiring for the mason, and so on.

And what are relevant jobs for you? My wife is a teacher E12 with over 10 years of professional experience. She earns more than 5,000 € gross. For me, that is a very relevant job. Nurses, another very relevant profession, now also earn very well (I know this firsthand because I work in a hospital). The only big disadvantage is shift and weekend work.

I think that due to the lower supply, craftsmen’s wages are also shooting up. Unless the owner keeps everything for himself...
 

Bertram100

2022-05-01 17:31:25
  • #4
No, that is wrong. Not everyone has your individual opportunities. They have been made possible for you by biology, luck, society, and politics. But that is not the case for everyone. And if everyone aimed for the well-paid jobs, then you might not have one because someone else would have it.

There are tons of professions where a long education does not result in good pay. That argument is also wrong. See humanities, healthcare sector, arts. All professions for which you have to study and are still paid relatively poorly at the highest level.

You are the best example that people who "work their way up" unfortunately attribute too much of their success to themselves and think they "made it." Because of the "I made it" attitude, conceptual thinking in more complex contexts unfortunately falls by the wayside. And empathy can be learned, but only if one wants to learn it. It does not happen automatically. That, again, is available to everyone, regardless of intelligence and context. Unfortunately, it is poorly paid.
 

Neubau2022

2022-05-01 17:45:11
  • #5


That is largely not true. I am the first in the family to have a university degree. My mother works on an assembly line, my father was a welder. We children never felt materially disadvantaged. What you don’t know (e.g., travel abroad), you don’t miss :)

Luck rarely has anything to do with diligence. If you want to study, it is very easy in Germany. In Poland, for example, there are entrance exams. Here, in the worst case, the high school diploma counts. By the way, I got my Abitur with a grade of 3.7 :)

And sorry, if someone says they are poor in Germany, in my eyes that is nonsense. In Germany, you get housing provided, food is also paid for. Being poor doesn’t mean not knowing how to feed the child the next day and pay the rent. Even too much is done. Also with foreigners. Less support, more demands would be the right way. But that is another topic.
 

askforafriend

2022-05-01 19:39:02
  • #6
720,000 euros in credit and it's still just a renovated old building? For me, with your equity, that would only make sense if the house is located in a big city.

For that money, you could build yourself a really cool new place, my dear, and then it would say year of construction 2023.
 

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