House buying - No idea what one can afford

Did I miss something or why is Steffen ranting against people with Abi?

because he doesn’t have one selfmade after all



ok, there are still small loans. The money got lost somewhere. Or do you only have the highest quality purchases.

anyway. I can understand the desire for property. People are being driven crazy everywhere. Every day you are spoiled by various papers with price/rent increases and interest rate cuts.

Only in your specific case should you really scrutinize the income/cost side. Just reading that leasing a car is not consumption for you. Okay, it might be a mobile item to get to work in your case. But I dare say that you went big rather than small on the car and that the leasing rate is high.

You are aware that leasing only means renting and that you don’t get an asset for your money here either, right?

I see you more in a learning phase when it comes to money. Whether you can renounce consumption I don’t know. When we built new, we also quickly needed a new TV, sofa, garden lounge. But we had equity and also consciously kept the property smaller. We didn’t want to give up consumption, vacation, or the Audi. Then you also spontaneously spend 500 € at the outlet. Could you afford that with 400-500k? Probably not.

The car is leased/financed, it's almost the same. Each with a repurchase option including defect payment or keeping it, etc. We pay 300 euros monthly for it. After the third year, the residual amount is less or remains the same, and then it eventually belongs to you. But roughly, the value of the car = the residual amount. The risk is of course secured through [GAP].

Employment contracts are permanent and in case of emergency, there is also legal protection including labor law.

Well, whatever the case may be. I am not driven crazy by the media or anything like that, but for us it is simply that we pay a lot of rent, are no longer 25 years old, and would like to have a house for [child] and family. Quite simple actually.

Why I am treated here as if I had closed 500k at a Russian bank, I unfortunately do not know.

Liquor was also cheaper 15 years ago. Doesn't help you today.

But even back then, as today (perhaps even more so): banks have nothing to give away and only like to lend money against collateral. Those who have no collateral only get money with surcharges. And if you want 154,000 euros (see above the calculation with your s-Agent house) without collateral, you have to pay more interest and repay faster.

And statistically, only 4-5% finance over 100%.

70% manage financing with less than 90% loan-to-value.

30% even with less than 60% loan-to-value.

Why I am being treated here as if I had deposited 500k at a Russian bank, I unfortunately do not know.

Good that we have quite good regulations in Germany, there it is not just so easily done.

Go to an Interhyp/Dr. Klein/mlp advisor and get some advice.

As a dry run, you can take the exposé from the S-Makler house and have it calculated through.

Did I miss something or why is Steffen ranting against people with Abi?

Where exactly am I ranting against people with Abi? You also have a strange perception...

Some people just take pride in it..

oh man. haven’t read for a few hours and it’s going crazy again

Actually, I wanted to make the argument that interest rates used to be MUCH higher and repayment much lower. What did people do back then? 100k as the maximum? 3.5% interest? OMG how high is that... what was happening 15 years ago?

And repaying 2% is also very little? What was it like 15 years ago? Why not a bit more interest, normal repayment and then after 20 years there’s still a remaining sum left, just like they used to do.

Why does it have to be fully paid off in 25 years today? No wonder it can’t be financed monthly.

BTW - somewhere it said that I was on vacation without having the money. That’s not true, we just barely managed to pay from the account... man man man.

What other people did at other times is completely irrelevant for you and the present. I have the feeling you’re just looking for a justification for the current situation. Some self-reflection and criticism would be appropriate.