From 0 to 100 in 3 years realistic? | Building obligation

2022-01-31 13:08:21

The problem I see is that, for example, in young years planning is always done with salary increases but never with negative life events. The IT industry is not a sure thing either. Our IT guy once dryly said that the IT industry works according to the principle of Logan's Run. Children also don't always arrive on demand in optimal form, and Covid has shown enough people that health is not guaranteed. When it comes to an amount of that magnitude and responsibility for a family, I am very critical of how nicely some financing concepts are calculated.

Not only that. In my opinion, it is much more likely than becoming unemployed or earning poorly with IT training that statistically you belong to the almost 40% who separate/divorce earlier (one really can't afford that with such a harakiri financing construct) or later. Then, good luck with six-figure debts and a divorce battle. We are talking about 800k here, and at that time even a small correction of 15% is enough for the drama to begin. Neither of them can certainly finance this alone. But what am I saying, real estate prices can only rise. :p

2022-01-31 13:14:06

Not only that. In my opinion, it is much more likely than becoming unemployed or earning poorly with IT training that one statistically belongs to the almost 40% who separate/divorce sooner (which you basically can’t afford with such a harakiri financing scheme) or later again. Then have fun with six-figure debts and a bitter custody battle. We’re talking about 800k here, and at that time even a small correction of 15% is enough for the drama to begin. Surely neither of them can finance that alone. But what am I saying, real estate prices can only go up. :p

Yeah sure then it’s over and out
With that attitude hardly anyone should buy
And I’m calculating with 1.5 salaries, there’s also the option to switch to full-time
My brother and I will also inherit from the grandparents

So rather rent for 2000 euros?

2022-01-31 13:18:01

What does "implement" mean in this case? So what happens in case of violation?

There are different regulations. For example, the property can revert to the municipality against reimbursement of the purchase price minus a processing fee. Other contracts provide for contractual penalties in six-figure amounts.

2022-01-31 13:19:46

Not every divorce ends in a bitter battle. You can bridge awkward sales markets with renting (provided the rent payment minus taxes roughly covers the installment and maintenance), if you get along reasonably well.

2022-01-31 13:25:14

Brief addition to the building obligation. This is defined as follows: "The building plots must be built on with a building permissible according to the development plan and ready for occupancy within three years after the purchase contract is concluded."

this raises - if you don't want to go up to your nostril edges into debt - in my opinion the following questions: 1. what does the development plan allow? 2. what do you WANT to have in the long term? 3. what do you NEED in the short term (within 3 years)? --> 4. can this be sensibly "split"? so 1st construction phase what you really need - and in 5 or 10 years as an extension to it as 2nd construction phase the rest? (planning appropriate transitions/"connectivity"/etc. from the beginning!)

2022-01-31 13:32:18

In case of a negative market development

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I don’t worry about that in Stuttgart

You certainly wouldn’t have worried in the 1950s/60s about the smoking blast furnaces, that such a booming industrial region as the Ruhr area could become a crisis region!

And when the Big Three (GM, Ford, and Chrysler) had divided the street cruiser market among themselves in the 1960s and early ’70s, you wouldn’t have worried in Detroit either!

From 0 to 100 in 3 years realistic? | Building obligation

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