Is buying a house as a temporary solution reasonable?

  • Erstellt am 2013-11-05 17:15:27

schnie

2013-11-05 17:15:27
  • #1
Hello,

we have been looking for the right plot of land for 2-3 years now, unfortunately without success so far.
Now the second child is on the way and our 3-room apartment will soon be too small.

So something bigger needs to come soon.
A larger rental apartment is out of the question, we have paid rent for about 10 years now, that’s enough.

So I’m wondering if it wouldn’t make the most sense to buy a not too expensive little house as a temporary solution, pay it off for a few years and if a suitable opportunity for a plot of land arises, strike and sell the property again.

For our actual plan (plot + house construction) we are planning with a total capital of 300 - 350,000 EUR.

If you can get a reasonably well-maintained terraced house for, say, 200,000, pay it off for a while and hopefully sell it again with little loss of value - wouldn’t that be the best solution at the moment...

Or what do you think??? Does it involve too many risks? Or losses?

And how about the financing? First a smaller loan, then repay it and get a bigger one? Or what is advisable?
Thanks for your opinions!
Schnie
 

Mycraft

2013-11-05 19:09:54
  • #2
So if you have the money in cash, such a project would still be possible... but the idea of financing the "Zwischenhaus" is nonsense... better to move into a cheaper, larger rental apartment
 

backbone23

2013-11-05 19:14:39
  • #3
Even if you pay in cash, money can be lost.
 

Wastl

2013-11-05 21:10:57
  • #4
In addition to the possible loss in value, there are always financing costs, [grunderwerbsteuer], notary fees, ETC. You always lose that. Possibly don't sell the old property but rent it out instead? I think you will do better with rent. You usually invest a lot of money in your own house, even with transitional solutions, that you won't get back later (kitchen, lamps, modifications and improvements).
 

schnie

2013-11-05 21:41:46
  • #5
Thank you for your contributions! I will definitely take them into account in the decision....
 

ypg

2013-11-06 00:15:09
  • #6
and why not a used property as a permanent solution? A landscaped garden has many advantages :-) Sometimes you have to rethink and change your goals if they are not achievable in the medium term (Grundstücksfindung)
 

Similar topics
04.09.2012Land paid - Building with an additional loan?16
03.06.2013Buying land from father - building a house yes or no?11
12.12.2014Build a house? Financial advisor says the land and financing are okay15
27.02.2015Is property financing feasible?56
21.04.2015Terraced house - Financial framework, land + construction financing13
02.03.2016Plot found in new development area - Build now?19
15.04.2016Costs for extension and partial modernization of existing property32
29.04.2016Purchase contract / Division of property / How to determine the land21
15.05.2016Own home - Planning the property / Financing with income ok?22
08.08.2017Buy land with cash? How to build financing?44
16.09.2016False information about the property in the exposé39
26.02.2017Transfer property according to share16
15.03.2017Questions about a possible plot!37
17.04.2017Is land and house construction possible with our income?43
29.11.2017House and property €284,000 financeable?57
11.09.2017Plot by the highway, view from the neighborhood - enough sun30
03.05.2020Construction financing - How will it change in the future?204
01.09.2023Buying guide for property - neighborhood of daycare47
06.10.2024Property with building after inheritance11

Oben