Is financing theory practical?

At least that is my impression, but it is certainly not universally valid.

But if I look at what acquaintances have who have bought young terraced houses or built with a developer, there are just the simplest windows in them (as described in my list above). And the owners also have no knowledge of the subject. When I ask what kind of windows they have, their knowledge is only enough to answer "white plastic windows." To find out more, I had to examine the windows myself.

For us, the topic of windows is the most expensive upgrade.

I also think it’s important to build something of your own. With us, without any support from the parents.

Same with us - on the contrary, we suffer from inherited difficulties. Also a form of inheritance / gift.....(not a good one!).

No question: parents may and should spend their money for themselves throughout their lives. Everyone only lives once. But leaving behind mountains of debt and problems in such a way that you hardly have the choice "more problems or more debt or both" - very much in the style of: after me the flood is not great. The other branch of the family behaves hardly a bit better. How glad I am to also have parts of the family who are sensible.

Despite all adversities, we then built in 2013/2014 - although as old geezers around 50 (childless) we never really wanted to and to be honest, we are a bit pleased about what we have done / created under these conditions.

Actually, we should have wanted...needed and should have built 20 years ago, but it just wasn't meant to be.

We didn't build anything great. Nothing representative. Very small. Simple, practical, useful, and cozy - like Ritter Sport is square. Just a living environment for the two of us - but self-made and paid off by retirement and we feel comfortable here. Or rather, I have made my peace with NRW through the house and don't want to leave here anymore.

Best regards
Thorsten

Why didn't you decline, Thorsten?

Why didn’t you reject it, Thorsten?

. Very legitimate and very good question.

So:
If a part of what you have concluded with a party as an inheritance contract is brought into another part as financing without your knowledge (that with double the loan value as real value)...... it is stuck in there. An inheritance contract cannot be rejected – unlike a will or regular inheritance. Of course I tried that back then..... no chance.

If you have an inheritance contract and the contractual case occurs: Unfortunately, the contracting party has died. Even if he acted unlawfully, he/she is no longer subject to earthly jurisdiction. And even objectively clear cause of the situation aside from the contractual situation cannot be held accountable.

This is how such cases can happen. There are selfish and very clever people who have exploited this gap, at the expense of me and my wife.

1999.

Of course, I immediately received 50% of the aforementioned financed property. Nice.
If the aforementioned financed property – let's say for simplicity – is overpriced by 100,000 euros, the next problem arises. If then the real estate market collapses....... wrong region and time, one gets annoyed.

You always have to be careful. Back then I was too young, too inexperienced.

Regards
Thorsten

PS: If you own 50% of a heavily indebted property. The other 50% from the deceased belongs only to you as the heir. No other relatives, no other interest.

Then rejecting the inheritance is worth absolutely nothing. Because the 50% of the deceased you rejected will eventually, after multiple checks, go to the federal state XY (in this case the one where the wreck is located). The agreement with them for the sale will probably take 5-25 years. You might as well order the 50-pack of large Leitz binders for the process......

By the time you have reached an agreement, the place will have collapsed and become a subway station, but until then you have to pay heating, utilities,... you know all that, no need to list here.

Nobody will want to rent that crap either, no one is that stupid. At least I don’t know anyone anywhere whom I would consider that dumb. You’d be better off living in a tent in Svalbard, without drafts. Also the dump: getting there is one third of a Mars mission – civilization is far, far away. There are deer, trees and 4 farmers. Nothing else. Crazy……. Things exist in Germany, and dumps and sh***y properties....

When I was young, I liked playing "Zwickmühle." Now that I’m getting old, I like that game less.

Best regards Thorsten

You do it YOURSELF! That is also humility towards life! You accomplish something yourself. If you let others do everything and just watch, your budget at the bank would look completely different. Instead, you take something small and make something big out of it.
At least, that's how I read your posts.

That wouldn't even occur to many people here in their wildest dreams, those who have little or no money available. I am convinced that you are humble.

Thank you, Yvonne.
Yes, if we had craftsmen do everything, we would certainly have ended up somewhere between double and triple the amount we have paid now for the renovation. It just makes you proud to look at things you have done yourself. Then you can also bear the fact that other places are still a construction site. Here is an example of the completely DIY west facade. The scaffolding was up for 9 months, but now I can look at it every day and be proud of it. It really feels good when you can't do anything else at all.