Would you buy a house (if you lived in Europe) right now?

[icedbeverage123]

Interest rates in Europe right now are rock bottom. You can get a interest rate of around 1.5% if you play out the different banks against each other.
Here's the snag: even though interest rates are rock bottom, house prices have rocketed up. Prices in my country (Belgium) have doubled in the last decade. In 2004, the average house costed about 100000 euros. Now, the same house is about 220000 euros. It's completely insane.

My father was able to buy his house in 1999, earning one wage whilst supporting 3 kids and a housewife. He payed down the mortgage in 15 years on a police officer salary, which isn't that much. How is it me and my girlfriend, who jointly have about 100000 euros which we can spend on the house, can't even get a mortgage below 1000 euros a month?

To be clear: I'm not really looking to "invest" in real estate. If I'd buy a house, it would be a house I can live the rest of my life in. I just don't want to buy right now while I could buy cheaper in the next 2 years when/if a potential crash/correction hits. Conversely, I realize it's pointless to wait forever on buying a house, if you could use that time to pay down a mortgage instead of spending it on rent.

Hoping for any useful insight on the current market status/advice on what we should do.

[anavuajna]

I think that now you have no choice and only option to rent a house. But, you can negotiate with the seller at home and buy a home in installments. Alternatively, the payment of installments.

[mindrust]

Well there isn't many places left to live other than Europe, USA and Australia. Even though those places are also becoming shittier with every day, they are still better than the worst. Yeah i would buy a house from Europe. Sooner or later they'll figure something out and send shit people to bottom of the ocean. If they don't they will get destroyed.

[clickerz]

I think in my own opinion, its better to buy a house if you have an extra cash to do it. Its better live in your own house than to rent,that way you can save. Or, if one you decided not to live there, you can rent it out.

[susila_bai]

Interest rates in Europe right now are rock bottom. You can get a interest rate of around 1.5% if you play out the different banks against each other.
Here's the snag: even though interest rates are rock bottom, house prices have rocketed up. Prices in my country (Belgium) have doubled in the last decade. In 2004, the average house costed about 100000 euros. Now, the same house is about 220000 euros. It's completely insane.

My father was able to buy his house in 1999, earning one wage whilst supporting 3 kids and a housewife. He payed down the mortgage in 15 years on a police officer salary, which isn't that much. How is it me and my girlfriend, who jointly have about 100000 euros which we can spend on the house, can't even get a mortgage below 1000 euros a month?

To be clear: I'm not really looking to "invest" in real estate. If I'd buy a house, it would be a house I can live the rest of my life in. I just don't want to buy right now while I could buy cheaper in the next 2 years when/if a potential crash/correction hits. Conversely, I realize it's pointless to wait forever on buying a house, if you could use that time to pay down a mortgage instead of spending it on rent.

Hoping for any useful insight on the current market status/advice on what we should do.

If you really have that much of money to buy a house then just go for it dont see the price because when the price will go up or down that no one can tell but you have to see the purpose of use. If you go for rent, then  you have to calculate how much rent you have to pay and lot and if you get a house in loan with little more paying according to rent then it is better to go for owning the house

[amacar2]

I think buying land/space and building home on top of it is cheaper rather than buying pre built homes. However depends upon the place you live, to find good land/free space to build home is really hard.

With 1.5% interest rate, you mean 1.5% interest per year? If so it is almost 10 times less than here in my country. But better to buy a home which is enough for your family rather than trying to grab a huge bungalow.

[Lucius]

I think one of the reasons why prices have almost doubled is large migration in West Europe from all parts of the world but mainly from the countries of Eastern Europe.Demand is great and market follows with high prices.

On the other side real estate in Eastern Europe are quite cheap,people leaving and sell below cost price in search of a better life.It is difficult to predict how long will this continue,but while there is a demand, prices will be maintained at this level and maybe even go up.

If you need a house for life I see no reason to wait for years to buy it at lower price if it ever happens.

[izanagi narukami]

Property is land of investment , if I have enough or more money , I will spend on property as much as I can.
As I know property value keep increasing over time until the end of time.
Hope one day I can purchase a house with bitcoin

[bitbunnny]

The interest rate that you have mentioned is possible just in some european countries. In many of them the rate is stil between 4 and 5%. Stil investing in real estates, especialy in some parts of Europe is usualy good investment and profitable with time. So, if you have the funds go for it.

[olushakes]

Investment in landed property or real estate is actually the best investment so far and even the only "real" investment and if I am in Europe now and I can afford a house, I will definitely buy. My own opinion on the matter is since you have where you are staying for now, why don't you just save more then you can achieve your dream because going for rentals now will further deplete the savings and might not meet up anytime soon.

[Ayers]

Investment in landed property or real estate is actually the best investment so far and even the only "real" investment and if I am in Europe now and I can afford a house, I will definitely buy. My own opinion on the matter is since you have where you are staying for now, why don't you just save more then you can achieve your dream because going for rentals now will further deplete the savings and might not meet up anytime soon.

i'm not sure about this, land property have lost a considerable value today because of the inflation and the crisis, so you can buy something more expensive now and end up with something that will be worth less in the future, the demand will be always good for land because people need an house after all, but their value is not on par with the past

[raja2sumi]

Nowadays the world have become too costly and thr price of real estate are reaching sky .there is no other way but to rent an apartment and best of luck for the future .

[DarkIT]

Well, it may be hard to buy a house. but, it would be nice if you were able to buy a house, because it also can be an excellent investment for the future. but if you can not afford, rent a house might be a good decision.

[bitbunnny]

Well, that decision depends great deal on the country in Europe you are living or planning to live. In western Europe countries interests are low but in some eastern countries are still pretty high but the realestates are also cheaper. But I think that generaly speaking buying a house in Europe is good investment and long term you will not loose.

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