Acof1978
2021-07-12 20:25:53
- #1
The landlord situation here is such that he is trying to fraudulently get us out of the apartment. He is a real estate agent and owns almost all the properties he rents out himself. Not long ago, he built several apartments, about 60 units, all newly rented, and on our property one house further, he also had an apartment empty for a long time which has just now been re-rented. He should have considered these apartments FIRST before terminating our lease. Moreover, he owns a large city villa here in town, as well as a large house further north. The whole matter is with the lawyer, and there are several other serious pieces of evidence against him, which I will not go into detail about now. Even if we would win the case with 98% certainty, which all lawyers currently assume, it would be morally unacceptable for me to keep throwing my money into the jaws of this "person." Such behavior deserves to be harshly punished. This property was newly built, is now exactly 3 years old, and experienced people know what he is planning now?! Exactly - grace period over, it will be sold. Back to topic.
Rents here for a nice, modern 80-90m² 3-room apartment within a 30 km radius are about €1000-1100 cold. Three rooms because I need an office where I can work quietly.
If I calculate all costs for a single-family house, I can spend €1100-1200 per month for the repayment rate, and I estimate about €450 for house ancillary costs, which naturally come with a house. This also already includes €150 per month for repairs and renovations, which you put aside on a separate account month after month. Insurances are also calculated. All together, €1637.50 remain afterward, for two people, without children. Sounds silly, but is it really that unrealistic? Regarding rents, buying is cheaper for me – if the bank, or a bank (comparisons ongoing), cooperates. We don’t need to talk about the fact that I wouldn’t have to keep paying rent of definitely beyond €1500 with my pension in 30 years. Homeownership is then homeownership. So that was my line of thought up to this point, but that’s why I’m here, to have experienced house builders sort out precisely this train of thought for me anew, and I thank you for every answer so far, great forum =)
Your calculation already shows that you won’t be able to finance the house. The existing property (30 km from Hamburg) will cost about €500,000. Additionally, you have to finance over 100%, since there is no equity and you also have to finance the real estate transfer tax. If you find a bank that does it, the interest rate will be at least 2%. That alone makes €10,000 in interest in the first year (simple calculation). With a monthly repayment of €1,100, you repay exactly €3,200 of the loan in the first year. Now calculate how long you will need for full repayment....