Kalibri
2022-06-26 08:40:05
- #1
Buying land and building a house too risky in the current situation?
My assessment:
You both have excellent incomes and relatively good equity (very good equity would be if you already bring the land). With your income, any project can be realized if you adjust the loan term accordingly.
The only thing that would bother me in your place is the very high installment over such a long term.
In your place, I would forgo the basement and build smaller. With an efficient floor plan, you can also fit two children's rooms into 140 sqm.
For example, we preferred 1.) to have the house paid off by the age of 50 and 2.) to have a monthly burden that you can manage even if one loses their job. We achieved this goal simply by building smaller.
Of course, this is always a matter of setting priorities.
Since retirement provision is also important to you: the best retirement provision is to be able to live as quickly as possible without monthly burdens.
We currently live in very turbulent and crisis-prone times and your question calls for a look into the crystal ball. If I look into the crystal ball, I dare to predict that politically the trend is moving completely away from single-family houses.
The motto of the future is densification and less living space per person. If you want a house: now or never.
My assessment:
You both have excellent incomes and relatively good equity (very good equity would be if you already bring the land). With your income, any project can be realized if you adjust the loan term accordingly.
The only thing that would bother me in your place is the very high installment over such a long term.
In your place, I would forgo the basement and build smaller. With an efficient floor plan, you can also fit two children's rooms into 140 sqm.
For example, we preferred 1.) to have the house paid off by the age of 50 and 2.) to have a monthly burden that you can manage even if one loses their job. We achieved this goal simply by building smaller.
Of course, this is always a matter of setting priorities.
Since retirement provision is also important to you: the best retirement provision is to be able to live as quickly as possible without monthly burdens.
We currently live in very turbulent and crisis-prone times and your question calls for a look into the crystal ball. If I look into the crystal ball, I dare to predict that politically the trend is moving completely away from single-family houses.
The motto of the future is densification and less living space per person. If you want a house: now or never.