Home financing ever possible? Probably not!

  • Erstellt am 2022-12-16 17:16:04
B

Bardamu

2022-12-19 09:11:09
  • #1
I can't hear this stupid argument anymore that it's supposedly so much better to go into debt with 400k and build a house and still pay rent in retirement. It's up to everyone how they do it. For the interest I would pay on a loan, we can cover 11 years of cold rent (900)!!! And at the same time still enjoy life somewhat. Inflation is all well and good, but if I have a pile of debt at the bank, the money keeps losing value, and the interest stays the same, am I not better off having no debt? The house doesn't belong to me anyway until 30 years later. Until then, the bank has the house and my interest – worse deal. And for what? So that when I'm old I can say: That belongs to me. Nothing belongs to anyone, I’m just talking about property tax, who decides how and what and where you build? Not the "owner"! And it only takes a change in the law and expropriation is also possible. In WWII, my grandma had war refugees living with her for years. She had to take them in. And when I go to the grave, what have I given up my whole life and paid the banks interest and had sleepless nights for? For passing it on to the ungrateful offspring, if any, who mostly don’t want it anyway because it’s outdated and possibly still in debt? There is no ownership in this case, you enslave yourself and get on a hamster wheel. It baffles me how some people can insist on this so much even though they can’t afford it. It’s almost like idiocy. Life is not just about having and owning.
 
I

i_b_n_a_n

2022-12-19 09:18:57
  • #2
Your first sentence is quite confusing or my brain isn't running at full speed yet. So what is it now, 400k debt or paying rent when you're retired? I thought most homebuyers/builders have paid off their loans by retirement and then only pay the usual additional costs/maintenance etc.? Get yourself sorted ... The rest is also quite confusing. Strange and definitely incorrect examples. But on one point you are certainly right! From a business perspective, renting doesn't have to be worse than buying a house during one's lifetime. Rent is usually even cheaper. But what do you want to tell us with your statement anyway? P.S. Probably was sitting on the "bedside" next to the whole time :p
 
D

Dakrusty

2022-12-19 09:25:00
  • #3
So your idea is to pay the landlord the interest and principal? Doesn’t sound very clever….. I’d rather pay the installment and every month own a little more of the house than pay rent where the money is guaranteed gone. Also, don’t forget that depending on the fixed interest period, the installment is fixed for up to 30 years, but your rent happily keeps rising every year….
 
K

kati1337

2022-12-19 09:49:10
  • #4


I wanted to have already closed the thread, but you can’t just leave it like that. The whole post was a brownish, muddled mess, but that sentence is simply brutally wrong. As if our social systems were flooded with people who don’t pay in at all. Have you looked at the percentage of those, especially regarding the Ukraine refugee crisis, who are now engaged in jobs subject to social security contributions? The number was so strikingly high after such a short time that there were even articles about it in various news outlets (e.g. Tagesschau).
But certain groups like to overlook these headlines. And those are people who flee from war and suffering without any doubt. Not “double income no kids” people whining about how badly they’re doing with over 5.2k net per month.

There are two main arguments in the brown bubble: “They come here and don’t want to work” – which is statistically refutable false. And “They come here and steal our jobs.” A clever comedian once replied to that with: “If someone comes here without recognized qualifications and without language skills and can take your job away from you, then maybe you are just ..... ?”.
 
S

soneva2012

2022-12-19 10:10:25
  • #5
Attention, immigrant here! Even worse - one who is currently building a single-family house and thus driving up prices for the locals.

I come from a country where the homeownership rate is between 60 and 70%. But you have to start small, give up a lot, and take risks. The OP doesn’t want that. The house should be big, new, fancy, and in a top location, and if you can’t afford that, the state should help and let the refugees die at the border.

My first house was a 3-room semi-detached house from the 1930s in a rundown area. We had no heating in the kitchen. Over the years, we renovated the house ourselves and later sold it for 40% more. You then take the equity gained and buy something bigger. While I was painting walls on the weekend, my friends were enjoying themselves. But having my own four walls was important to me and I worked hard for it. That was 18 years ago and I am only now building my dream house. The OP thinks you should be able to have everything at once.

If the OP thinks you can’t buy anything with €5000 net, then you simply have to buy something smaller or do something to earn more money. But no, that’s not possible either because you have to be afraid of rising interest rates. If you have such high demands, you have to work hard and take risks. If you only complain and blame everyone else, you won’t get anywhere.
 
S

SumsumBiene

2022-12-19 10:32:55
  • #6
I consider our rate provisionally as rent to the bank. For the freedoms we have gained around the house/living, I just have to cover everything else that comes with it. .... so to speak bonus rent, and in twenty years we can still decide whether we want to have the "saved up" rent back, that is, sell, or whether we want to stay here. It is a house, so a functional item and partly also a hobby. And that just costs....
 

Similar topics
27.10.2008Mold - Rent Reduction?11
25.08.2011Buying land without knowing what the house costs?23
24.05.2013Build big? Or continue renting?23
18.04.2015Is a building savings contract still worthwhile with the current interest rates?10
22.06.2016Is a TA loan sensible? Interest and loan offer are okay13
03.09.2016Interest rate / rate - bank calculation16
13.12.2016Realistic monthly rate59
25.10.2018How do you take the interest into account from the purchase of the land until moving in?59
13.11.2018Grandma's house | Right of residence | Rent by oneself15
10.07.2019Calculations on the annoying topic of buying/building vs. renting19
16.10.2019Rent for construction dryer in final invoice/builder - legal?14
01.02.2020Paying "rent" to the partner... how?135
15.11.2022Construction financing despite EU pension43
15.03.2021Rent / Financing Purchase of Apartment or House22
28.09.2021Solar system for rent - is the offer okay?10
11.07.2022House construction still realistic despite rising interest rates / construction costs?54
17.07.2022Single-family house: Is the rate realistic? How much house can we afford?177
25.09.2022Financing monthly installment €2500 with 40 years term117
29.09.2022High interest rates with fixed interest, alternative flex loans?54
22.03.2024Home purchase financing despite high interest rates?24

Home financingHouse construction planning
Shell constructionInterior constructionRenewable energies
Building technologyExterior facilitiesFlooring
IKEA
Oben