Psychology of Buying / Overcoming

I wouldn't buy over the phone either, but it was definitely a very informative exposé and a large plot of land in a good location in the high-priced Frohnau. Just the value of the presumably also divisible plot probably reduced the risk. Someone clearly knew their stuff, had the money/the financing ready to go, and struck coldly.

On the other hand, I have seen multiple cases in my circle of acquaintances: actually enough money, but always new arguments after a viewing why they preferred not to pull the trigger. A good rental apartment then makes it even harder to make the leap.

320K centrally in Lübeck (we would have liked to move there too...) with a view of the nature reserve probably sounded too good for the buyer to go through the loop with building inspectors and others again. But don't be upset – who hasn't missed opportunities in the last 10 years that annoy them today! If only I had listened to my father and bought a plot in 2008 – that would have saved me 200K. Or the property that was offered to us at the city limits in 2014 – new build, over 200m2 with all the trimmings for 500K. Back then I just laughed. Today, no one in Berlin laughs anymore who is looking for a house!

You’re always smarter in hindsight, and buying over the phone? Yes, if your name is Rockefeller. It can also end sadly with a junk property. Such mistakes can be afforded once or not at all by normal people. For people like me, who simply have no expertise in the area, that’s harakiri.

The phone buyers are often some kind of corporations or real estate funds. If necessary, they will also take a junk property into their portfolio if the location of the land fits. Nobody cares, because these properties are cheerfully resold for a profit every few years anyway. You know it from urban tenement blocks, where the owner constantly changes, nobody ever shows up, and a broken heating system literally leaves the landlord side out in the cold for weeks.

Guys, you are scaring the OP even more.

What is a missed opportunity - the next one will come. The important thing is first your own formation of will. Then you have the criteria clearly defined so that you can act quickly when the time comes. And if not - you all have had the experience of not ending up on the street because of it. What has really happened? Should I grieve that I didn't short Wirecard? That I didn't buy Bitcoins at €50? Such nonsense. The fear of missing out or not making the very best choice is a sign of prosperity invalidity. Just stay relaxed and keep at it, it will be fine.

Guys, you’re scaring the OP even more.

Thanks – but I’m not that sensitive after all. I used this weekend once more for "sightseeing," which has confirmed our wishes for a house/semi-detached house/row house, especially the surroundings. We’ve been on this topic for already 2 years. And now, let's just get to the point, I’m already annoyed.

We’ve already had 2 situations that we regret in hindsight, but back then we didn’t have today’s knowledge, and interesting things keep popping up / continue to do so. For me, that’s no reason to act impulsively or to display FOMO behavior.

In the end, it’s about a house, not life or death.

I still remember well a property in Berlin Frohnau – just under 700K. Online at 11, contact with the agent at 11:15, viewing at 2:00 PM. One hour before, call: someone bought without viewing over the phone.

I have done that too. It’s not bad, since a property purchase in Germany still has to be notarized by a notary. So you agree on the phone, send proof of financing (which you can generally coordinate with the bank beforehand) and then you have time to calmly view the property after all. There is nothing more non-binding in a purchase than agreeing on the phone. Less risky than any electricity contract or newspaper subscription!!! That’s the only way to get “bargains” in sought-after regions. Although “bargains” should always be understood in quotation marks.

Hindsight is always 20/20 and buying on the phone? Yes, if you’re called Rockefeller. Can also end sadly with a junk property.

Nope, you don’t buy, you just give the seller a good feeling. You can agree and then meet the sellers at the property to discuss the details of the purchase contract, inventory, etc. If the property is crap after all, you just say “Thanks, but I’ve changed my mind” and watch the sellers’ bewildered look.