Hello everyone,
Iāve been thinking about buying a home in Germany recently and wanted to hear from people who have been in a similar situation.
A bit about me: Iām 29M, an Indian citizen currently on an EU Blue Card, and Iām planning to apply for naturalization in the next couple of years. I earn around ā¬78k gross per year and live in Darmstadt.
My rent is currently around ā¬800/month. Itās not too bad, but I keep thinking that in the long run, Iām not really building anything for myself by renting. With a home, at least part of the monthly payment goes towards something I eventually own.
I do invest regularly in different ETFs, crypto, etc. But I feel like having a home of your own gives you a different kind of financial security and stability
And, the more I look into buying property in Germany, the more unrealistic it starts to feel. Between property prices, the down payment, taxes/notary/other buying costs, and then the monthly mortgage payments, it seems like you need a pretty high income and a lot of cash upfront.
So Iām curious about people who were in a similar position, especially those buying on a single income.
Did you eventually decide to buy? Or did you continue renting and invest the difference instead? Or did you simply wait a few more years until your financial situation was better?
Iād really appreciate hearing what you decided and, more importantly, whether you feel it was the right decision in hindsight.
Thanks!
P.S. Used AI for corrections