Home financing ever possible? Probably not!

2022-12-16 18:37:53

How much equity have you saved up?
If you have been thinking about it for a long time, at 35 years old you have hopefully already set something aside, your partner as well?

With €5,000 and no children, you can plan €2-2.5k for the financing. At 6% annuity, that’s €400,000 - €500,000 plus your equity. I’m just guessing here that you can find something like that where you are.

If no equity is available: bad luck, but please take a good look in the mirror.

Addendum: For the Rhein Sieg district, Immoscout shows me 700 houses over 100m² up to €500k. Don’t you like any of them or what is this thread about?

2022-12-16 20:20:56

Hello dear forum,

to be honest, I don’t even know what I expect from my post here.
It’s probably just about letting out the frustration I’ve been bottling up for years on the subject of owning a home.

I am 35 years old and come from the Cologne-Bonn surrounding area.
Together with my partner, we have been looking for our own house for a very long time, but everything is simply unaffordable.
My partner and I both work full-time in fairly decent positions (he is a civil servant and I am employed) and together we have a good monthly income.

We don’t even live directly in a big city, but outside of one and would also like to continue living rather rurally. I imagine that we don’t have particularly high demands. But it doesn’t matter at all – it doesn’t change the prices in the slightest, even if you look beyond the commuter belt.

How are normal people supposed to ever be able to afford such prices? From my point of view, this is impossible unless you are rich or inherit a home.

15 years ago the real estate prices were still somewhat reasonable. At that time, however, I couldn’t get a loan from the bank because I only had a temporary employment contract. Today the problem is reversed because due to age you could never repay such sums.

I’m happy for everyone who owns a home, but it just makes me angry to see that others who don’t earn significantly more have managed it, although they are basically in the same salary class, but are about 15 years older and therefore got lucky to buy quickly.

And then the whole housing market (which is not only about owning a home but about living in general) is further fueled by mass immigration, because locals are practically competing on the housing market with foreigners, even though politics naturally tries to portray it differently.

Honestly, I see a very dark future. And when you then read that our Minister for Construction, Klara Geywitz, said a few days ago that for the younger generation (to which I wouldn’t even count myself and my partner by definition anymore, as we are both over 30) the dream of owning a home is over, I could just puke.

As I said, I know that probably no meaningful answer can be given to my post, but it was important for me to get it off my chest.

Thanks for reading!

I feel for you too.
My wife and I are in the same situation.
Household income before child about 6,000 EUR, now my wife’s income is "gone" for the time being.
Equity 150,000
We have been married for a year and searching for two years. Unfortunately, until we found/got our plot in August 2021, there was nothing decent to find.
It is really crazy that with 1 - 1.5 engineer salaries we have no chance of owning a home without external help. And the subsidies next year are capped at 60,000 taxable income. Who is supposed to be able to access that?

2022-12-16 20:28:27

It is really insane that with 1 - 1.5 engineer salaries we have no chance of owning a home without external help.

Such nonsense might be good for the regulars' table, but not much more. Owning a home does not necessarily mean a single-family house. Lower your demands and then it will work...

2022-12-16 20:35:04

Such nonsense is good for the regulars' table, but not much more than that. Homeownership does not necessarily mean a single-family house. Lower your demands and then it will work...

Ok then I'll change it to single-family house And that has nothing to do with the regulars' table

2022-12-16 20:49:26

I would free myself from the pressure to buy NOW. That only makes you unnecessarily unhappy. It is what it is. Save, save, save, invest well, possibly also acquire a rented condominium as a capital investment. Then you can also calmly buy a house at 45. I even know some who have built again at 65. Maybe you also change professionally or regionally, you never know. But there is simply no entitlement to buy a house in the desired area with the first secure salary and the first reliable partner. And I don’t find that so dramatic. We live near Starnberg. With two good salaries, we might be able to buy a TG parking space. ;) So we save and see if we eventually want to live somewhere without mountains. Or near other mountains.

2022-12-16 20:50:00

Hello dear forum,

to be honest, I don’t really know what I expect from my post here.
It’s probably just about letting out my frustration that has been building up over the years regarding the topic of homeownership.

I am 35 years old and come from the Cologne-Bonn surrounding area.
Together with my partner, we have been looking for our own house for a very long time, but everything is simply unaffordable.
My partner and I both work full-time in fairly decent positions (he is a civil servant and I am employed) and together we have a good monthly income.

We don’t even live directly in a big city, but outside and would also like to continue living rather rurally. I imagine that we don’t have particularly high demands. But it doesn’t matter at all – it doesn’t change the prices one bit, even if you look outside the commuter belt.

How are normal people ever supposed to be able to afford such prices? From my point of view, this is impossible, unless you are wealthy or inherit a home.

15 years ago, property prices were still somewhat reasonable. Back then, however, I didn’t get a loan from the bank because I only had a fixed-term employment contract. Today, the problem is reversed, because due to age, you can never repay such sums.

I wish everyone their own home, but it simply makes me angry to see that others who don’t earn significantly more managed this, even though they are basically in the same salary class, but just 15 years older and therefore lucky enough to have been able to buy quickly.

And then the entire housing market (and this is not just about homes, but housing in general) is further fueled by all the mass immigration, because locals are in fact competing with foreigners on the housing market, even if politics of course tries to paint it differently.

Honestly, I see a bleak future. And when you then read that our Minister of Construction Klara Geywitz said a few days ago that for the young generation (to which I wouldn’t even count myself and my partner by definition anymore, since we are both over 30) the dream of owning a home is over, I could just puke.

As I said, I know you probably can’t answer anything sensible to my post anyway, but it was important to me to get it off my chest.

Thanks for reading!

Once again, lots of whining here. As a left-liberal guy, I should immediately agree with you. But I cannot (nor do I want to) overlook the racism hidden in the undertone. Once again, if things don’t go your way, it’s the evil group of immigrants, migrants, and refugees who are to blame? Nonsense. Had you taken off your blinkers at latest three years ago and looked beyond the end of your nose, you would have made progress (towards a house) too. Everything else is whining at a very high level. Added to that is the disproportionately low homeownership rate in Germany compared to EU neighbors, lots of bureaucracy, and whatever else. Get involved, change things the way you want them, and stop whining. But now (for you, with your sense of entitlement, the train has left the station for the foreseeable future) the framework conditions are even worse so that even people with higher incomes (almost 10K net for three people, an engineer and a pediatrician) can’t afford even 60m² of ownership in Munich. And that for 5 years now.

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Home financing ever possible? Probably not!

SoL

markusla

SoL

markusla

Myrna_Loy

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