Is building at a young age possible/sensible?

  • Erstellt am 2019-03-12 00:14:24

Tassimat

2019-03-13 21:09:22
  • #1


Sell houses for 100k in a structurally weak area again in xx years to rebuild? In terms of value development, that is pure gambling, only that you play with money you don’t have.
 

hampshire

2019-03-13 21:53:37
  • #2
You forget the opportunity costs of rent. Calculate 400€ cold rent per month over 10 years. How much value is the property supposed to lose? This has nothing to do with “gambling.” You can weigh this quite easily.
 

Winniefred

2019-03-14 08:57:14
  • #3
But with 400€ per month, you would have 48,000€ in 10 years and not 100,000€, and nothing has been renovated, repaired, or set aside yet, and the incidental purchase costs are not included either. With the rent, however, everything is paid off. I find the objection quite reasonable.

On the topic: If I were you, I would also wait and save and see where things go in the next few years. We also bought early (at 27 and 29), but you are still quite a bit younger. In addition, in the long term, you will have significantly less money available with children (partial or complete loss of income plus significantly higher costs due to the children themselves). In your area, there should be affordable existing properties, I see that as more likely, and then you can sleep better. I do not necessarily see a new build here. But take a look at what happens in a few years and reassess the situation then.
 

chokies126

2019-03-15 11:36:17
  • #4
Why should it not be possible or sensible?

Let's think back about 20 years, when parents or acquaintances were young and also started building and financing houses in their early 20s.
If your salary increases positively, I don't see a problem there.

My boyfriend and I (26/22), both in good positions, also wanted to build next year. Of course, you can wait and save etc. But the building situation is not getting better, plots of land are becoming scarcer, and if you have the chance to acquire a plot, go for it!

When deciding to build, no one can tell you what is right or wrong. This decision is made alone (possibly with parents, acquaintances).
 

WilhelmRo

2019-03-15 11:51:59
  • #5
140 * 2000 = 280k + 40k double garage = 320k + 60k basement = 380k + 50k ancillary building costs = 430k + 20k ceiling floors buffer = 450k + 15k exterior = 465,000 € Easy peasy, not exaggerated, at best rounded up. Regards
 

Lumpi_LE

2019-03-15 11:58:24
  • #6
It's a bit of a gamble, we also had the opportunity in our early 20s to buy a small city plot cheaply and considered building a small house of about 90sqm on it. Back then, it certainly wouldn't have cost a total of ~150k€, especially since you still have endless time and friends for EL. But we decided against it and rented an apartment instead, precisely because we were still young, not together for long, etc...
Well, now there is a townhouse on the plot, the land alone must be worth 200k€.

Just as well, I could have mined Bitcoins and would have been a multimillionaire years ago...
 

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