Interest rate development current situation. Build now or wait?

A small insight: ...

3800 net for 3 people is of course not great given the equity (which is used for notary, property transfer tax, land registry, etc.), but it could be enough for a smaller house without much frills. I would also advise you to look for a plot of land without developer ties and without an obligation to build. Finance it flexibly, pay it off, and meanwhile calmly look for a construction company that fits the budget. And while you are searching, keep a household budget and a detailed list of all the costs you have. Including provisions for a new car/TV/etc. This helps a lot in getting an overview of the possible payment without forgetting, for example, retirement provision.

Please don’t take it the wrong way if I am this direct. But I find it amusing that both of you, who have no equity at all, want to come out as winners of the crisis here :)

What do you think? If someone gets into trouble due to short-time work or unemployment, do they go on vacation or pay their installment?

Basically, we have a stable economy with good labor market instruments. Employees reorient themselves when it comes to the workplace. We do not have mass unemployment.

I personally do not see a financial crisis here. This is also shown by the banks’ provisions for default risks of private loans (excluding business loans).

And maybe it’s also good if one or the other goes under when they haven’t saved.

Please don’t misunderstand if I’m this direct. But I find it amusing that both of you, who have no equity at all, want to emerge here as crisis winners :)

What do you think? If someone gets into trouble through short-time work or unemployment, do they go on vacation or do they pay their installments?

Basically, we have a stable economy with good labor market instruments. Employees reorient themselves regarding their jobs. We don’t have mass unemployment.

Personally, I don’t see a financial crisis here. This is also shown by the provisions banks have for default risks of private loans (excluding business loans).

And maybe it’s also good once in a while if one or the other goes down if they haven’t saved up.

I see it similarly!

@TE: Please don’t misunderstand – but when I see in our areas or hear from friends/colleagues who is building a house, sometimes I really feel quite bad and somehow get annoyed.

For me, a certain thriftiness, equity reserves, a necessary income situation, and that you pull together and strive to achieve this goal belong to having a house. It seems to me as if anyone “whoever” can just put up a little house and pay it off – as I said @TE, please don’t take this the wrong way!

But the fact is that the costs for a home are enormously high, which simply not every family can afford – especially not immediately, right here and now!

Not everyone just buys a Porsche casually, right?

There’s certainly a reason why some houses have to be sold…

According to your life situation, income conditions, and reserves, in my opinion, a house is currently not feasible.

Our society wants everything at once nowadays: career, having kids, building a house, vacation, traveling the world, taking breaks before/during/after studies, earning money for the first time at 26, and so on… My opinion is probably still somewhat old-fashioned: you simply can’t have it all :D

As I said, I don’t know if you will be happy with such a high burden and your living conditions right now. The market situation won’t improve in the next years anyway, but it won’t necessarily get worse either. Maybe you should just see how much you can really save in 1-2 years and then ask yourself: hey, can I afford this, do I want to afford this, or not?

But as already mentioned several times: just go to a financing advisor and have them calculate it for you – afterwards you can assess the situation much better (we only have very few detailed info about your circumstances here).

Please don’t take it the wrong way if I’m being so direct. but I find it amusing that you both, who don’t have any equity, want to emerge here as crisis winners :)

What do you think? If someone gets into trouble due to short-time work or unemployment. Do they go on vacation or pay their installment?

Basically, we have a stable economy with good labor market instruments. Employees are orienting themselves regarding the workplace. We don’t have mass unemployment.

Personally, I don’t see a financial crisis here. This is also shown by the banks’ provisions for default risks of private loans (business loans excluded).

And maybe it’s good if some people fall over when they haven’t saved

Just a quick note on that again, but please don’t take it the wrong way ;) The economic situation of Germany is certainly debatable. Even before Corona there were different opinions about it, but I’m certainly not an expert. And as I already mentioned, we’re not sitting at home waiting for it. It was merely a thought whether prices will remain the same, rise, or fall.

I feel the same way!

@TE: please don’t take this the wrong way - but when I see in our areas or hear from friends/colleagues who is building a house, it sometimes really makes me feel quite sick and somehow you also get annoyed.

Please don’t take this the wrong way - but what is going wrong there? Why does it annoy you? It should be none of your business whether they manage it or not, right? Sympathy in case of forced sales if it doesn’t work out is one thing, but getting annoyed because others are building a house? o_O

Please don’t get me wrong – but what’s going wrong there? Why does it bother you? Shouldn’t you be indifferent about whether they manage it or not? Sympathy in case of a forced sale if it doesn’t work out is fine, but getting annoyed because others are building a house? o_O

Yes, you’re completely right – but a “leftover annoyance” unfortunately always creeps in... That’s just how people are.

If you save, save, save, think for days/weeks about whether you can even manage it – calculating back and forth – and others put up a 500k palace next door at the beginning of their 30s, with 2 kids, a 4k household net income, and no equity – then sometimes you just get annoyed about it. I don’t want to say it’s envy (since you’re enabling yourself to realize the dream of owning your own home). Hard to say... That’s just how people are – I admit to myself that such things annoy me :D – it’s certainly human in a way. But as I said, ultimately everyone has to know for themselves what they do. As you already mentioned, you certainly don’t have any sympathy in case of a forced sale :D