Finance the property now or continue saving equity?

  • Erstellt am 2023-05-28 20:16:15

Tigerville

2023-05-30 17:56:06
  • #1
I actually know people who have financed like that. I think local banks in the regions where US military are stationed have certainly had positive experiences and therefore also grant loans? As I said, it is difficult but not impossible and then with worse conditions. Unfortunately, that’s just how it is. All the more important for us to make the right financial decision there…
 

HilfeHilfe

2023-05-31 06:28:15
  • #2
Hello, it becomes problematic with your husband as he receives income from abroad
 

Grundaus

2023-05-31 08:43:18
  • #3
I only know one family where the husband works for the army as a civilian employee and that in Italy. In their case, the army either paid the rent (for them it was max 3000.--/month) or the interest on the financing. Banks on the barracks premises took advantage of the situation with very high interest rates. Civilian employees have short-term contracts and are supposed to return to the USA afterwards, which can be avoided. I have no idea about the soldiers, but I think with that salary it won't be a simple soldier. In this situation, I would continue renting.
 

xMisterDx

2023-05-31 08:57:03
  • #4
With around 35,000 US soldiers stationed in Germany, most of them enlisted ranks for whom property is generally not an option anyway, the likelihood that anyone here can speak from personal experience about how something like this works is low. Everything else is like looking into a crystal ball with the bearded lady at the fair...

You are already on the right track with a consultant who has experience with this kind of thing, aren't you? What is stopping you from just taking all the documents and walking into a bank?

You will have to judge the rest yourselves anyway. I have no idea how reliable a statement is in the US Army that you can stay exactly at that location in Germany. Because basically, your husband as an active soldier can be withdrawn and sent somewhere at any time where the US presence needs to be increased. If the USA relocates its presence in Europe or reduces it in Germany, he can be recalled to the USA... or he could be transferred to Poland. Can this really be ruled out?

And the service time will end at some point. What then? The house will probably have to be paid off over 25 or 30 years.
 

Tolentino

2023-05-31 09:10:45
  • #5
In my experience, Americans are somewhat less emotional when it comes to selling the house (even self-built) again, because you simply have to move elsewhere.
 

kati1337

2023-05-31 09:13:18
  • #6


However, Americans are also used to the fact that buying and selling houses is somewhat less of a fuss. Here, there are capital gains tax, property transfer tax, notary fees, and so on and so forth.
 

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