Is a single-family house in the Stuttgart metropolitan area still affordable?

  • Erstellt am 2020-09-15 00:49:32

Ybias78

2020-09-17 08:05:34
  • #1


Yes, I apparently come from a different culture. One where in adulthood you no longer accept money from your parents, but instead give them a vacation or a coffee machine for their birthday. After all, they raised the children for at least 18 years and had costs exceeding a house. That’s why I/we as my family are responsible for ourselves; especially financially. Of course, there are exceptions (illness, etc.). Luxury goods definitely don’t count. My daughter would never even think about asking me for money to buy a house. Either you can afford it or not. I would also like to drive a Mercedes GLS, but I can only afford a GLC. But that’s no reason for me to run to my parents.

And yes, that’s why I can’t understand it. I grew up in a giving culture when it comes to adult children. But apparently that’s no longer in...
 

Altai

2020-09-17 08:44:17
  • #2
I also find it a huge difference whether I ask my parents for money, that is directly sponge off them, or whether they say on their own "we would like to support you". Then it was their free choice, and I don’t put them in any kind of pressure (what do we answer now?).

Yes, my parents also supported me with the house purchase. In the end, they covered the incidental purchase costs. But: it is explicitly not a gift, it is a loan. Interest-free though, but they want it back. And they are getting it. The first sums have now flowed back, one year after moving into the house. Of course, I will have to pay on it for a while, no question.

My parents are retired, doing well overall. They use their savings while they are still fit, for travel and in case a new car is needed someday. They offered on their own to support me. That enabled the project in the first place. But of course I make sure to give back enough so that they lack nothing they would have otherwise afforded. I stand on my own feet anyway.
 

Oetti

2020-09-17 09:08:38
  • #3
Your thinking error is as follows: Generally, as income rises, so do expectations. The best example is the disposable income of an apprentice or student. Most get by on 800 euros net. After finishing training or studies, more is earned and for the first time expectations rise, and more money is spent on consumption and partly also on insurance and retirement provisions. Often one consumption expense leads to further costs, e.g. during training a 2nd-hand Golf with liability insurance, afterwards a 7-series Golf, annual new car, with comprehensive insurance and regular inspections. On the topic of accepting money from parents when purchasing real estate: My wife and I deliberately refrained from asking our parents to financially support us when buying an apartment. We find it really embarrassing to still have to ask your parents for money at age 30 so you can afford something. That reminds me too much of school days... And yes, both sides have enough money and it wouldn’t have hurt my in-laws financially if they had gifted us the entire money for the apartment. I wish my parents and in-laws a long and healthy life and they should use their self-built and earned assets for themselves and are welcome to completely use up and spend it until their death because it belongs to them and we therefore have zero claim to it.
 

Tolentino

2020-09-17 09:20:41
  • #4
A loan is still something different. Back then, I also borrowed the additional costs for the condominium from my father. Unlike Altai, I even pay interest. It still helped me because otherwise, I probably wouldn’t have gotten the financing at that time.

So it wouldn’t have been possible without my father, but he still benefits because the interest rate is significantly better than with a fixed deposit or something similar.
 

Ybias78

2020-09-17 09:29:56
  • #5


Loan


You obviously also come from a different culture
 

Elokine

2020-09-17 09:41:05
  • #6


Personally, I would never have asked my parents/grandparents for money – no matter what for. My husband and I are proud to have worked up a nice six-figure equity ourselves. Now comes the BUT: as the only grandchild with well-to-do parents who have everything they need and who, even if worse times come, have provided sufficiently, it was the grandparents’ wish to pass on part of the inheritance while still alive and to still see something meaningful and lasting created with it. For a while, I tried to resist this gift; however, the parents convinced me that this (perhaps last) joy that I give to the over-90-year-olds with it is in the interest of the family. The bright eyes of the grandparents when we show them the property, building plans, etc. and let them take part in our project (and they also have the feeling they contributed something!) is worth it by far.

Therefore, I shy away from blanket statements like "I would never accept that."



Nice that others have similar experiences.
 

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