Depression after notarized contract - experiences

Such threads only show that sometimes "smaller," "finer," and more carefree is better

Better to finance something smaller and be happy

And such answers only show that some people lack empathy. The amount actually seems to be a much smaller problem in the OP's issue, I would assess, than the pure fact of having committed oneself long-term.

Dear OP:
I know the feeling you describe. I often feel like that before (or right after) big decisions – but experience shows that this feeling usually disappears on its own little by little. Someone already wrote it: I regularly get scared of my own courage. Quite recently, with the topic of wanting children, we sometimes feel like this, that we would like a second child but at the same time I have enormous fear. Because: we are doing very well right now, we are happy, what if child two isn’t as easygoing as child one was/is? What if I am overwhelmed by it? What if child one can’t handle it? Can we even afford all of this financially? Lots of "what ifs" and worst-case scenarios. And, looking at it soberly, actually nonsense.

I can only advise you to seek professional help if your bad feeling doesn’t go away. I am in therapy because of my problems and regret not having done it earlier.
All the best to you!

The OP will probably also vote for the Greens. Then he can look forward to additional costs.

When the electricity price has doubled, as well as the gasoline price. The property tax will quintuple from 2024 and he will also have to pay a wealth tax.

But these are just my fancies. And the interest rate level is still almost at zero. That is not forever. With further rising inflation, we will quickly be back at 5 percent with corresponding effects on the property price.

The OP probably also votes for the Greens. Then he can look forward to additional costs.

But those are just my own fantasies.

Great, you recognized the opening sentence as nonsense in the same post.

Why should that be nonsense? The bubble topic is now very present and little is currently rosy. If you still buy now, it should simply fit quite well – in terms of equipment and price. Because an exit can possibly become very difficult "along the way" over the 40 years if you are not financially absolutely secure and very strong.

If prices can double in less than 5 years, and the annual increases are now getting bigger, they can also collapse very abruptly. The fact that the last ones get the short end of the stick is given – only whether they bought in 2021, 2022, or still 2023 is still open.

The idea that interest rates can never ever rise again is just an idea. If they, which is completely within the realm of possibility, reach a higher level again in 10-20 years, prices across the board will move significantly downwards accordingly. Additionally, demographic change will hit very hard in at most 10 years. On the labor market it already is. And houses are just places to live.

That’s what bothers me a bit. It feels like everyone assumes that the development will go on "forever" like this. But the problem with the story is that the air at the top end is getting thinner and the case of the OP is a textbook example. In fact, we have a widespread real wage loss in Germany. The GDL, as a very current example, currently has to fight hard for a 3.2% wage increase with a term of 28 months. That’s how employers operate. I’m curious what will come out of the next collective bargaining round with M&E and IG BCE, the big industrial unions. In my opinion, the last ones were no more than "adequate". Wages are thus at most stable; for most, real wage losses are likely the reality.

(Building) interest rates, another aspect, are still at an absolute low point. There is not much room left to go down. So there’s no room for further price increases there either.

The crazy prices like 855k here for a terraced house can actually only still be afforded by ordinary employees if they earn far above average or if it’s gifted/inherited. Someone has to be able to pay/finance it in the end. The bank tells the OP everything is perfectly normal for Stuttgart? 2% repayment, three-quarter million debt capital, almost 10% equity, 42 years term, nearly 6.5k household income, where even all special payments are already included? Earlier, banks would have asked you if yesterday’s pub visit maybe lasted a bit too long for such a project. Today they probably act more out of self-protection to secure their money from negative interest rates.

Again, in my opinion, this cannot and will not go on forever, except of course if 1% repayment becomes the new standard and then the great-great-grandchildren still have to pay off the house. Good luck with wealth building...

And (not only, but also) for this reason we turned our backs on the Munich area. We were not willing to pay such an insane amount for such a small house. And no, we now also have "only" about 150 sqm semi-detached house on 450 sqm, but for a reasonable price. In Munich, we would probably have had to pay easily 100 thousand, if not more, just for the plot.

Well, I had touched on this here before as well. Tying yourself to such a burden for over 42 years is really intense. You can argue however you want.

Over the course of life, circumstances, living conditions, and interests also change nowadays. That's just how it is.
In view of such prices, you can forget about a construction project in southern German or other metropolitan areas. Either you adapt and go where you can afford it. But that requires courage and flexibility. Or you remain stagnant and wait for better opportunities. The problem lies in the long cycles in the real estate business.

From an inflationary perspective, it can very well be that the house of the thread starter will cost 1 million next year and 2 million in 2 or 3 years.

You’re not even allowed to mention that my neighbor built his 130m2 bungalow with brick cladding for 180k 1.5 years ago.
He of course did almost everything himself, but still. 900m2 plot and the repayment is monthly 590€ xD.
That is much cheaper than renting.
For something like that, they charge around 1100 per month cold rent.