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

2020-09-24 15:53:22

As a homeowner, you can only win.

I find that a bit bold, but well, of course I understand the basic intention of your thought.

2020-09-24 16:05:03

You can look at it this way: The interest is the base rent, the repayment is the savings rate.

2020-09-24 16:21:42

Why not a cheaper condo? For the beginning, that is good enough. You can sleep peacefully and own property.

2020-09-24 18:46:28

Was there still a period with financial cuts for you? Like parental allowance, or part-time work etc? Because permanently 1800 euros is already quite tight (from my current perspective)

So our plan regarding children is now:
- 1 year of parental allowance: Certainly no problem for us.
- For the time from the end of parental allowance until the start of daycare, a reserve will be saved in advance. We also sometimes don't have to go on vacation and can do without most things occasionally.
And unlike others here, we both would have no scruples about asking our parents for help in an emergency. But I don't think that will be necessary.

But regarding the total sum in relation to the income, the decision is definitely not that easy.

However, we have many friends/acquaintances who took out 500k with comparable income. Unfortunately, in the Munich area you can't get a house like yours for 400k + 100k renovation + incidental costs...
For example, currently looked at by an acquaintance:
120 sqm living space, 420 sqm land, built in 1955 for 785k + incidental costs. 30 km west of Munich, so not even a city location.
There is still room for improvement with you.

2020-09-25 09:46:54

Why not a cheaper condo? For a start, that's fine. You can sleep peacefully and own property.

Yes, as I said, I would also take that. But a condo with a garden is hardly any cheaper.

2020-09-25 09:52:58

So our plan regarding children is now: - 1 year of parental allowance: definitely not a problem for us. - For the period from the end of the parental allowance until the start of daycare, a reserve will be saved up beforehand. We also have to avoid going on vacation sometimes and can do without most things now and then. And unlike others here, we both would have no scruples about asking our parents for help in an emergency. But I don't think that will be necessary. But considering the total amount in relation to income, the decision is definitely not easy. However, we have many friends/acquaintances who have taken out 500k with comparable income. In the Munich area, unfortunately, you can't get a house like yours for 400k + 100k renovation + incidental costs... For example, recently looked at by an acquaintance: 120 living space, 420 land, built in 1955 for 785k + incidental costs. 30km west of Munich, so not really city location yet. There's still room for improvement with you [there]

We unfortunately cannot rely on anyone (constantly) for childcare. My wife will certainly stay at home for about 1.5 years when child 2 arrives (but these are both assumptions). So you say that with a rate of around 1500 euros it won't work?! We have first made an appointment with Interhyp to roughly discuss everything and see some numbers. Are Dr. Klein and Interhyp always free of charge?

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

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