How long have you been saving equity for your house?

2021-05-04 07:04:18

Hello dear forum, I was wondering how long/how you saved for your house. Was it already decided for you a long time ago that you wanted to have a house and did you save for it accordingly? Or did the desire come later? Have you always been frugal and set money aside, or were you more of a big spender in the past? Did you specifically put aside a certain amount every month or always whatever was left over? Sometimes I think we have wasted too much time (late studies, which ate up everything saved until then) and accumulating a healthy equity buffer will probably be difficult (roughly, we aim to build in 5 years, but it probably won’t be with masses of equity). And then I ask myself how it went with others. I suspect saving for a down payment for 5-6 years is rather short too, but I don’t really know :) Best regards May

Basically, it is like this... If you want to finance more comfortably and don’t have a family background that gives you €50k, you currently have to start saving before the idea to build/buy even exists. Wanting it immediately because it’s such a great offer but having no equity doesn’t work with €600k. To the actual question: We saved about 4 years for €100k. Until we finished the house, another approx. €50k flowed in. We are frugal and back then could save between €20-40k per year with children, daycare, and so on. The desire for homeownership developed 2 years before the saving phase. However, money was never the problem, but rather getting a plot of land.

2021-05-04 07:07:56

We needed our savings from about 10 years when we bought a house fairly spontaneously. We were 28 and 30 then. We had around 25,000-30,000€. After finishing high school, we both did an apprenticeship first and then studied; we had already had 2 children during our studies. Otherwise, we surely would have managed more. Besides studying, we both always worked part-time, at night, on weekends in 12-hour shifts. We always had little but still always saved. However, without a concrete goal. The whole amount was at least enough for the incidental purchase costs.

2021-05-04 08:02:55

Married, traveled for 3 years (about every 2 months vacation; also long-distance trips USA, Asia, etc.), then reserved a house (developer) and saved up the additional costs until the building permit was granted (part was already available, the rest was saved very well thanks to Corona) and bought the house with 100% financing... still at the right time, because the same developer is currently building the same houses for +50k.

2021-05-04 08:34:36

Hello dear forum, I was curious about how long/how you saved for your house. Had it been decided for a long time that you wanted to have a house and then saved for it? Or did the desire come later? Were you always frugal and saved up, or did you used to spend money freely? Did you set aside a specific amount every month or just whatever was left over? Sometimes I think we have wasted too much time .....

I spontaneously decided at 52 that I wanted to improve my living situation. I looked a little at the possibilities and then two plots of land became available on which our semi-detached house is now almost finished. I financed 100% (no equity because I never knew how to handle money, I always gave/spent everything). But (very) old and paid-off house is available as collateral. Also had a fairly decent income for the last ten years. That was enough for the bank. Note: Time cannot be given away... everyone has 24 hours available per day.

2021-05-04 08:42:50

Good question, I am in a similar situation. 26 years old like my partner and everyone our age wants/is building. Fortunately, we live in a large rented apartment with space for at least two children. My goal is to save for the next 7-9 years. During this time, I want to buy a plot of land to then fulfill my dream. The current savings amount is about €2300 per month with a net income of about 5k. I hope we are doing the right thing and won't fall flat on our faces, since you often hear that you can't save up for that... but we also don't want a 2k installment for the house.

2021-05-04 08:47:20

Mid-20s with a PhD, she had completed vocational training and then university. Then stayed 8 more years in the cheap student apartment and had no car for 4 of those years. Saved 50 to 70k annually, as there were hardly any expenses but good income. Finding land took the last three of the 8 years, and by then there were two small children.

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How long have you been saving equity for your house?

Zaba12

Winniefred

Mitleser123

i_b_n_a_n

Häuslesbauer94

Oetzberger