Finance and buy or continue renting in the Stuttgart area?

  • Erstellt am 2021-05-14 11:33:51

moccanna

2021-05-14 12:52:27
  • #1


For €562 net, you hardly get anything here. 50 sqm in a bad location and old. According to the calculation, I would definitely have to buy. But doesn't the calculation forget the incidental purchase costs?
 

Tamstar

2021-05-14 12:56:45
  • #2

No reason for that. :)
My nagging was only so that you consider whether you’re perhaps painting a rosier picture than reality.

By the way, we are also from Stuttgart. Unfortunately without Stuttgart salaries like you have. Therefore, to pursue our dream of owning a home, we now have to move out to the countryside (towards Backnang)...
An apartment was not an option for us, since everyone has to cater to their own needs. For us, a detached house with a garden was more important than the 40 km.


You can calculate that yourself.
For 5 years, €35k additional costs amount to just under €600 more. Even for €1,200 cold rent, I would say that a 4-room new-build apartment with garden and underground parking space is not available.
 

nordanney

2021-05-14 13:06:44
  • #3
I only calculate the interest costs. And that is only €562.50 per month. If you want to include the additional costs, then please compare them with the repayment. In five years, you’ll easily get that back. Maybe you even repay so much that it would be enough to realize a small loss when selling (I calculated with 2.5% = €56k in 5 years – that would be enough for a small depreciation). You then lived better than in the rented apartment but had the same costs.
 

Ysop***

2021-05-14 14:53:27
  • #4
Hello :-) For the size of the apartment and the Stuttgart area, I don't find the apartment price for a new build expensive at all. Or is it an area where no one wants to live? Even with one child, you would have little stress finding something new immediately. So if you like it, why not?
 

moccanna

2021-05-14 15:59:42
  • #5
I don't hold it against you and I am grateful for every input. The apartment is also not directly in Stuttgart. Backnang is also a nice area. :) I think I am a bit stuck right now. I need to think about it calmly again. Somehow I still don’t understand the connection between the incidental costs and the repayment. So the location is not bad. Also with highway connection, but without S-Bahn. By car to Stuttgart (without traffic jams, of course :) ) about 25 minutes.
 

nordanney

2021-05-14 16:05:25
  • #6
Interest payment = usage fee like cold rent Repayment = loan repayment = in your case €56,000 in five years = if you were to sell after five years at the original purchase price, you would have €56,000 in cash after repaying the loan. But since you had incidental purchase costs of €35,000 at the beginning, there remains a profit of €21,000.
 

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