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
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