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The "golden age of home ownership" is over
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tombolt
Spends far too much time on here
Joined: Fri Apr 24, 2009 8:38 am Posts: 2967 Location: Dorchester, Dorset
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As I say though, I suspect you had a reasonable deposit, so it's not a fair comparison.
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Fri Aug 20, 2010 8:38 am |
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big_D
What's a life?
Joined: Thu Apr 23, 2009 8:25 pm Posts: 10691 Location: Bramsche
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100% mortgage at the moment - I got the payment from my mums estate after we had bought the house...
_________________ "Do you know what this is? Hmm? No, I can see you do not. You have that vacant look in your eyes, which says hold my head to your ear, you will hear the sea!" - Londo Molari
Executive Producer No Agenda Show 246
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Fri Aug 20, 2010 8:40 am |
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tombolt
Spends far too much time on here
Joined: Fri Apr 24, 2009 8:38 am Posts: 2967 Location: Dorchester, Dorset
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Wish I lived in Germany then, I could afford to buy!
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Fri Aug 20, 2010 8:54 am |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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There are subtle differences. Germany has a higher savings rates so easier to build up a deposit. Also many traditionally used to build their family home. Germans also have higher wages on average yet the house prices are higher as well. It also has no bubble so need to worry about a price crash.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Fri Aug 20, 2010 3:59 pm |
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big_D
What's a life?
Joined: Thu Apr 23, 2009 8:25 pm Posts: 10691 Location: Bramsche
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What? Which Germany are you talking about? I earn about half of what I was on in the UK. As I said, we got a 100% mortgage, so no deposit! Yes, Germans usually want to build their own house. Although buying an existing house is becoming more and more common, purely because they are running out of land near the towns. German house prices are, generally, much lower than the UK. Even in Munich, the most expensive town in Germany, the prices were only about the same as the farthest commuter belt from London. If you are paying a million or more for a house, you are getting a flogging mansion out in the countryside. A normal family house in the commuter belt to Munich (150M²) costs around 300-400,000€. Renting in the centre of Munich is expensive, a 60M² flat costs around 500€ a month (usually bedroom, living room, kitchen & bathroom). A detached house is very expensive, 150M² house with 800M² garden costs from around 2000€ a month up. Buying a house in München Haidhausen starts at around 120,000€ for a place than needs renovation, a newly finished house in Aubing or Allach costs around 400-500,000€. More towards town, the same size will cost from around 600,000€ to 1,000,000€, but that is fully renovated with luxury fittings (whirlpool bath, sauna, luxury kitchen etc. An 80qm flat in the inner ring costs from about 250,000€ up. When you look at the area where I live, we have a nice, 120M² (plus cellar, which has bathroom, büro and party room, but the cellar space doesn't get included in the house size, so with the cellar, we are probably talking about 160M²), that cost about 140,000€, a brand new, built to your design, house will cost just under 200,000€ for the complete house. Looking at London, Foxtons have detached houses of a similar size starting at around 600,000, going up to several million...
_________________ "Do you know what this is? Hmm? No, I can see you do not. You have that vacant look in your eyes, which says hold my head to your ear, you will hear the sea!" - Londo Molari
Executive Producer No Agenda Show 246
Last edited by big_D on Sat Aug 21, 2010 9:39 am, edited 1 time in total.
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Sat Aug 21, 2010 7:04 am |
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JJW009
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 6:58 pm Posts: 8767 Location: behind the sofa
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What unit is a qm? I thought at first maybe Qubic Meter, but that's not right at all 
_________________jonbwfc's law: "In any forum thread someone will, no matter what the subject, mention Firefly." When you're feeling too silly for x404, youRwired.net
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Sat Aug 21, 2010 8:53 am |
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adidan
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 9:43 pm Posts: 5048
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Quite massive I believe. 150 quite massives (150qm) = 1 standard house (1sh),I believe that is the usual equation.
_________________ Fogmeister I ventured into Solitude but didn't really do much. jonbwfc I was behind her in a queue today - but I wouldn't describe it as 'bushy'.
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Sat Aug 21, 2010 8:57 am |
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JJW009
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 6:58 pm Posts: 8767 Location: behind the sofa
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Ahh, so about half a metric sh!t load then.
_________________jonbwfc's law: "In any forum thread someone will, no matter what the subject, mention Firefly." When you're feeling too silly for x404, youRwired.net
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Sat Aug 21, 2010 9:02 am |
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adidan
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 9:43 pm Posts: 5048
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Indeed, although measurements differ when at sea.
_________________ Fogmeister I ventured into Solitude but didn't really do much. jonbwfc I was behind her in a queue today - but I wouldn't describe it as 'bushy'.
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Sat Aug 21, 2010 9:04 am |
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big_D
What's a life?
Joined: Thu Apr 23, 2009 8:25 pm Posts: 10691 Location: Bramsche
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 Square Metre (sm), didn't translate from the German in my head! 
_________________ "Do you know what this is? Hmm? No, I can see you do not. You have that vacant look in your eyes, which says hold my head to your ear, you will hear the sea!" - Londo Molari
Executive Producer No Agenda Show 246
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Sat Aug 21, 2010 9:36 am |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am Posts: 29240 Location: Guantanamo Bay (thanks bobbdobbs)
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I think that wages have been stable in Germany and UK wages have been rising higher partly because of higher inflation and because we have had that property bubble. It means that there has been pressure on wages from property. We have also had a boost as a result of the exchange rate. German prices look like they have been remarkably stable for the last decade. It has also meant that it makes long term planning much easier for businesses and banks.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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Sat Aug 21, 2010 4:08 pm |
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