House construction in the suburbs of Munich? What should we invest in?

2016-05-10 10:17:37

A former colleague and friend who had lived in Munich before but not worked there, changed jobs and now works permanently in Munich, earning 50% more as a result. From renting in M-Perlach to owning an apartment in a Munich suburb, for cost reasons. Still nearly half a million for 80 sqm.

Despite all the quality of life Munich offers, I wouldn’t want to trade places. I also always wonder who can/wants to afford Munich. Building is only possible if land or a lot of money has been in the family for generations; as an individual, it’s hardly possible to earn that in a “normal” working life.

Supply and demand and of course the very high wages. I think the percentage of income to loan won’t differ much whether you finance in Frankfurt am Main / Cologne or Munich.

BUT: in these regions, those who work in the low-wage sector are left behind. In my opinion, even stronger subcultures are emerging there.

2016-05-10 10:18:34

For us, it's all about pure quality of life. Sure, I can rent. In Gilching, rental prices for a semi-detached house also start at €2000. I don’t feel like paying off a stranger’s house. I’d rather pay off my own.
However, I have often experienced that the notarization appointment really fell through. Possibly because the financing was not 100% secured, or because someone got cold feet after all.
I firmly believe that the outskirts of Munich will continue to grow.
I come from a family with a lot of property... therefore renting is not an option for us.

2016-05-10 10:24:17

If the property constitutes the main part of the price, the statement is not even correct, as the property is not depreciated linearly (provided that the price remains at least stable).

2016-05-10 10:28:09

The argument that renting is out of the question because one comes from a family with a lot of property is something I can't really understand. Does that mean one is obligated to buy? Shouldn't such a thing be decided independently? From my point of view, renting in Munich or in the immediate surrounding area is not a bad "option." Although rental prices have become outrageous by now, renting here is still "cheap" compared to buying...

2016-05-10 10:40:18

Well, if you are used to owning property, it is just strange to rent. We are currently living in a rental apartment... it annoys me that my landlord hardly invests, you have to account for every little thing... I myself am not very keen on investing in the apartment... it does not belong to me anyway.

2016-05-10 11:51:59

Well, if you're used to owning property, it's just strange to rent. We are currently living in a rental apartment... It annoys me that my landlord hardly invests, you have to account for every little thing... I myself am not really keen on investing in the apartment... after all, it doesn't belong to me.

Just say it like it is, it's brought up at every family gathering. If someone rents, they're out or have to put up with remarks.

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House construction in the suburbs of Munich? What should we invest in?

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