An unnamed real-estate agent recently brought a former run-down cannabis place on the market. He basically ‘saved’ it from an auction because he expected to be able to make a bigger profit on the regular market because of all the overbidding here.
Now you may think ‘then just buy something at an auction yourself’, but there are a lot of ifs, buts and risks for an individual to go down this road. The broker had dollar signs in his eyes: according to him, the house would easily be outbid by 30,000 euros anyway. The building: a filthy mess where there must have been some kind of flooding going given the damage to the floor, after a burglary the back door could no longer be closed let alone locked, the entire building was full of mold and the kitchen seemed to have served as a methamphetamine lab.
While the building was supposed to ‘only’ have had a few dozen cannabis plants, it seemed from the photos he shared without any shame in his game that there were enough pots for the stock of the local garden center. In addition, a man with a hoarder had lived there as well as a few squatters. Because of the fact of the property being a former grow house, I was already on the lookout for water damage, mold and tinkering with electricity and/or water, but when I heard a loud crack while descending from the upper floor and thought I had taken my last step, both literally and figuratively speaking. I had to outbid 30,000 euros for such a shithole? What are they smoking?!
In the supermarket
Slightly discouraged, I subsequently started putting up my personal letters – which I have already pushed through hundreds of mailboxes – on the announcement boards in supermarkets. But I soon realized a lot has changed in recent months. Where I initially thought that sharing a personal story might make the difference between being allowed to buy the house without extreme overbidding or not, these days the story needs to bridge a gap that is not realistic anymore. I hear people overbidding anywhere between 50,000 and 150,000 euros in my area. My story will not make a difference for an owner anymore if other people bid this kind of money. Housing prices here in Eindhoven and the surrounding area have risen so extremely that buying as a single starter on the housing market is no longer realistic.
There are simply no more houses with a garden on the market for the mortgage I can get as a starter. Slimmerkopen or comparable social buying initiatives with a discount on the market price are the only chance left. And that realization is painful. Because you depend on their lottery (never won one in seven years of participating), or registration time (I have many years of this, but still it’s not enough) or very occasionally ‘being first responder’, but that also seems impossible and those houses are the ones that no one in the top five of the draw wanted, for a reason. These are the so-called ‘mould palaces’ or houses full of defects that cost so much that you basically have the same problem: not enough budget. The additional headaches and sleepless nights are free of charge, ‘on the house’ let’s say.
Giving in
Lately it has been on my mind more often: should I just rent something with a garden? Spending even more money every month than I do know that will not be an investment in so that I can at least use a garden? So that I can enjoy being in the garden, and finally adopting a dog? After all, life can be short. These thoughts keep me busy.
I try to get the most out of life every day by enjoying the little things and being consciously grateful for everything I have been blessed with. But because I have been so busy realizing that dream of purchasing a home for many years now, am I not limiting myself and waiting too long for something that may never come? While in the meantime I could have enjoyed a garden for years, had I given up and just rented (too) expensively? So many thoughts that I can’t seem to finalize. Everyone around me says ‘don’t give up’. And that’s kind, I feel like they really grant it to me. But no one can do magic.
What would you do? Give up and start renting? Or continue, but accept that a house with a garden may never happen?
Unfortunately I can’t add a poll here, but I’m curious for your reactions.
Love,
Bridget
PS the photo for this blog (a street name in an alley) on the main page I took in Amsterdam recently and is meant as a joke. We use this phrase when describe something that takes forever and might as well never happen.
