Desirable property affordable? Experiences?

  • Erstellt am 2023-01-23 10:28:06

Bertram100

2023-02-06 15:58:08
  • #1
In the TE's position, the burden would be too high for me. Not because of the amounts, but because of the TE's attitude towards living. So many intermediate options (like a [R(M)H], for example) are not good enough. How is he supposed to cut back on luxury expenses if he can't even do so with the really obvious expenses like a single-family house, where one can truly live a bit more modestly without any sacrifice? How should he then be able to adjust the priorities of the financial situation in the long term?

I find the attitude more problematic than the numbers.
 

Jurassic135

2023-02-06 16:08:37
  • #2
I also have the feeling while reading along here that this blindly goes in the direction of "house poor." Is that what you want from life? I wouldn't want that. Living nicely is nice, but it alone doesn't make you happy – especially not when, despite actually having a very good income, you can barely or not at all afford what would actually be possible. And it's also an old house; I doubt it can be remodeled to your own wishes with only a 150K budget.

I can understand the frustration and pressure to find something in the current situation, but it wouldn't be worth it to me. This is about decades during which the income is already planned. Better to wait and/or change your own search parameters. This can go terribly wrong (renovation much more expensive than expected, loss of income, etc. just to name a few examples), I wouldn't be able to sleep at night because of it. This way, you make yourself your own slave. I find it totally crazy.
 

leschaf

2023-02-06 16:13:23
  • #3
When it comes to that, small children are actually quite useful. At any rate, I have no energy left to worry at night and fall asleep IMMEDIATELY every evening, even if the renovation got 10,000€ more expensive again on the same day :)
 

WilderSueden

2023-02-06 16:26:49
  • #4

I don't know, I rather feel the opposite right now. The combination of a child waking the parents at night and poor sleep due to house construction or early morning appointments at the construction site really takes a toll on your stamina.
 

jrth2151

2023-02-06 16:40:19
  • #5


Yes, that’s exactly the point I wanted to make. It would be a much smaller problem with a new build and I still think the installment is manageable, but with an existing house it already becomes quite a bit more complicated. The OP still has to work for almost 40 years. It makes a big difference whether the house is from 2023 or from 1965, with the cheapest possible renovation. If it’s just about raising the family there and then selling, it might work. But especially with the roof, none of this sounded like it wouldn’t have to be renewed sometime.

At the very beginning of the thread there was a suggestion to split the plot and sell 600 sqm. With a benchmark value of €600, that comes to €360k. That makes the whole thing much more affordable and far more realistic. Then the installment might still be around €2000.
 

CC35BS38

2023-02-06 16:46:04
  • #6
I understand the objections that it can also be advantageous if there is a very good main earner, I had not seen it that way before. If the 3 children come with a bit of a gap, it is quickly 15 years until the last time at secondary school and becoming independent. But in the end it does not matter how you see it, because: The construct is not healthy in itself. Little equity, slightly underestimated renovation costs, extremely high installments and still extremely high residual debt. You hardly pay off anything and instead pay a lot of interest.
 

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