Is buying a house sensible in the current market situation?!

2022-03-31 13:34:59

What do you mean by equity increased for repayment? Of course, we have continued to build equity. Giving up the project is the point, yes. >But what do we do as an alternative?

That is probably more a question for investment advisors.

2022-03-31 13:44:20

What do you mean by equity having increased for repayment? Of course, we have continued to build equity.
Giving up the project is the point, yes. >But what do we do as an alternative?

Asking this question about alternatives in a house building forum can backfire ;-)

The first and, in my opinion, most important point is to make you aware of what goals you are pursuing in life. Create a 3-10-30 year plan. You seem to me as if this is not yet clear to you: You have child(ren), small children. As a family, you have very different needs today than in 15 years, and in 25 years those needs will be different again, before changing once more in 35 years. Many want the well-known jack of all trades in their late 20s/early 30s. That doesn’t work (I don’t know anyone who has achieved that).

You have a luxury problem, be aware of it every day. What is the alternative if building is not possible? There is not much left: renting or nomadism. By the way, this offers a lot of flexibility. Financially? Securing old age (rent during the retirement gap, plus the retirement gap itself).

Maybe a small house in 20 years, somewhere by a lake. Fishing in peace, letting your soul dangle.

2022-03-31 13:51:33

You can't have everything at once. 5 rooms, in the middle of the city, affordable and easily available. Just like with the question of ownership, you have to make compromises somewhere. And for reasonable compromises, you have to prioritize.

For us, it was clear that we wanted to live nicely, with our own garden. And not spend a fortune on it. We're also willing to accept living in a village with 400 inhabitants. As a child from the countryside and with only one child, the prospect of regular driving services doesn't bother me much. At least significantly less than having 500 neighbors permanently, whom I can see from the balcony.

2022-03-31 13:59:58

Asking this question about alternatives in a house-building forum can backfire ;-)

The first and, in my opinion, most important point is to make you clear what goals you are pursuing in life. Create a 3-10-30 year plan. You seem to me as if this is not yet clear to you: You have child(ren), small children. As a family, you have very different needs today than in 15 years, and in 25 years these will be different again, before they change again in 35 years. Many want the well-known all-in-one solution at the end of their 20s / beginning of their 30s. That does not work (I don’t know anyone who has achieved that).

You have a luxury problem, be aware of it every day. What is the alternative if building is not possible? There isn’t much left: renting or nomadism. By the way, that offers a lot of flexibility. Financially? Secure old age (rent during the pension gap, plus the pension gap itself).

Maybe in 20 years a small house somewhere by the lake. Fishing in peace, letting your soul dangle.

We have such a "plan," we said that when the first child starts school (with a desk etc.) the house / something like that should be there. We still have 1.5 years for that, but the plan is crumbling a bit with the ongoing situation (market development and prices).
Clearly, we are definitely not sure! I admire people who say there is no alternative, I want to buy a house, and they do it (even if with many compromises).
Yes, it is a luxury problem here too. But I still want to solve it. I also cannot make a complete decision to just give up the property search.

2022-03-31 14:09:43

I've only followed the thread sporadically... the last two pages sound a bit like you're just looking for someone to say:

"I understand, I wouldn't give up on my expectations either, keep it up, you'll find something that exactly matches your requirements."

That's really not meant in a bad way, but the reality probably looks more like this:

"Your demands regarding the location of the property are so high that it's already difficult to find anything. 1.5 years is unfortunately nothing at all. Because from finding to completing the deal to renovating, etc., more time passes. The probability of finding something in the remaining time gets smaller and smaller. So when it comes to planning, I would say, you may hope to still get lucky, but in terms of planning, either you compromise on the location or you plan not to buy a house."

2022-03-31 14:15:23

we have already done that / are already doing that. Here it is also quite difficult, as we would then need a 5-room apartment.

Maybe the possibility will also arise to buy two small apartments on one floor and then combine them.

Is buying a house sensible in the current market situation?!

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