House Building Forum - Would you buy or build a house again?

Hello,
we are about to sign with the developer and have really started to wonder whether we should do it at all.
We negotiated for 8 months and were actually sure. But on the home stretch, there were some disagreements regarding the contract, etc. We were able to resolve those.
But now it looks like we would be paying a third of our net income to the bank for 22 years. I think we can afford it. But if you are used to a monthly rent of 800€-900€ (divided by 2), that is a different matter.
With a house, there is not just the loan, it also has to be maintained. From what you read, about 2-3€ per m² per month. So another 400-500€ per month. And of course there is much more work involved.
Admittedly, we are getting very stressed about it, especially my female half. She is afraid of the big financial burden every month. Justified?
We don’t want to live just for the house, but also to take vacations, hopefully not have problems with kids, etc. As I said, right now it is manageable, but we are wondering if we are miscalculating.
Therefore a question to the group: looking back at everything you know now regarding the loan, maintenance costs, repair costs, upkeep effort, etc., would you buy/build a house again?
If yes, why? If no, why not? I would really be interested! And were there surprises, both positive and negative, that you didn’t expect?

Regards

Remember instead why you want to build a house or what you are looking forward to - why did you even start planning in the first place?

A house of your own is, for me, a piece of freedom and of course also a piece of security for later (you basically force yourself to save). Whether the business case is really positive probably depends mainly on the development of land prices here.

I know many who live very happily in apartments - their whole life. Others swear by their own four walls and the tree in front of it - I believe there is no ultimate right or wrong here.

Stories of disasters during construction should not influence your choice - just as little as the shiny advertising brochure of the developer.

As BehaElja so nicely wrote, the house provides freedom, security, and quality of life. I would do it the same way again (this is already my third own property over the course of 20 years). Regarding maintenance. Why do you want to set aside 400-500 € every month for the new build? I don't mean the normal incidental costs, you also have those with a rental property. Calculation: 400€x12 = 5k € p.a.x 15 years = 75k € reserve for what? New heating, roof, or bathrooms? These are usually not due by then. If you start building reserves after 10 years, that is sufficient – then you still have your unchanged loan rate but meanwhile more salary and it is easier for you. Also keep in mind that rents can increase – however, the rate for the house remains unchanged with a long fixed interest period.

Hello,

quite clearly: We would build again immediately!

The construction period was one of the most exciting and interesting phases we have experienced to this day.

Seeing something grow and develop that you have significantly helped to plan is an experience I would not want to miss.

Of course, there were also many (sometimes heated) discussions during the planning and construction phase, but the time clearly brought us even closer together.

Our construction went "suspiciously" smoothly, but it was also garnished with smaller "disasters" like a major fire brigade operation due to a collapsing scaffold or unplanned additional costs for breaking open the street to still connect our wastewater.

All in all, every evening when we come home, we are proud of our "house" and enjoy being able to, for example, listen to loud music or watch a nice film without any neighbors immediately standing on our feet feeling disturbed.

However, the right construction partner is very important - this insight is something I can only recommend to every future builder. The success of the entire project stands or falls with the construction company.

Regards,

Dirk

Clear answer:

YES.

Certainly different from how I did it. But that is a completely different story. Building is no joke, the construction time itself is exciting, exhausting, annoying, drastic, formative.

Then at some point, the thing is finished, then the real joy begins:
The increase in quality of life, the freedom: Excellent
You live differently. The change in living conditions is unbelievable (POSITIVE).

Of course: It is more work. But you do it for and around the house. It’s even really fun to take on this responsibility. I now see it as my current hobby.

You also have to pay rent (and additional costs, but electricity, water, gas, … no longer cost anything in the house).

With the house, you also pay, if necessary, even more than rent before. OK.
But the business partner is an organization (bank), not a landlord.
You still have to pay on time anyway.

BUT:
Even if you have always paid your rent on time and behaved very properly, a "flipping out" landlord can influence life and life planning from one day to the next in an incredibly negative way. Because of this real experienced situation, I decided to no longer rent but to build. My wife was initially doubting, today she is the person who finds it even better than I do (and I already think it’s good).

So once again: Definitely yes: Own house.

Thorsten

Hello, even though we have only been living in the house for a few weeks and many experiences are still missing, I am glad that we took this step. I would do it again and also hope that we do not have to restrict ourselves too much. So far, it looks good. At this point, I would like to quote my father-in-law

The house should serve you, not you the house.

I consider this statement extremely important. Your feeling has to be right. If that is okay, then do it; otherwise, don’t.