Friday, October 2, 2009

Luksusfælden... Luxury Trap

Mads og jeg vil meget gerne købe et hus. Vi bor nu i et rækkehus (105 kvartmetre) som vi lejer og det har mødt alle vores behov. Men vi vil gerne have vores "EGET" hus som er større og er ikke i midten centrum Herning. Vi har kiggede efter huse i de sidste seks måneder og planlagde at blive klar at flytte efter jul. DOG.....

Mads and I would very much like to buy a house. We now live in a "rækkehus" (a Danish term for a house that is adjoined to the house next to it so you share a common wall) (about 1100 square feet) which we rent and it has met all of our needs. But we really want our OWN house which is bigger and is not in the middle of downtown Herning. We have looked at houses the last six months and planned to hopefully be ready to move after Christmas.... HOWEVER....

Disse 2 mennesker kommer i til vores hus hver tirsdage aften ... Faktisk kommer deres show som hedder "Luksusfælden" i til huset på fjernsyn og vi har sad og set showet mange gang.

These 2 people come into our house every Tuesday night... Well, actually their show called "Luxury Trap" comes in to the house on the tv, and we have sat and watched it manny times.

De er 2 økonomiske eksperter som hjælper kriseramte familier i økonomisk uføre. De viser måden til "økonomisk frihed" så de skaber en plan til dem. Menneskerne som de hjælper er meget trist og græder ofte men de kan se håb efter Mette Reissmann og Jan Swyrtz besøger dem.

They are 2 economic experts who help families who are in their own financial crisis. They show the way to economic freedom as they create a plan for them. The people who they help are so sad and often cry, but they can actually see hope after Mette Reissmann and Jan Swyrtz have visited with them.

Mads og jeg er ikke i en økonomisk krisis men vi har en smulle gæld ligesom de meste mennesker. Vi bestemmede sidste uge at vente for at købe et nyt hus. Vores hus er fint nok til os og hvis vi bor her andet år, kan vi betale vores gæld og har masse penge tilbage. Vi er enig med hinanden om vores plan og er meget spændt at se hvor meget penge vi kan spar hvis vi bliver her lidt længere. Vi er næsten 40 år gammel og det er vigtig at vi passer vores fremtid nu.

Mads and I are not in an economic crisis, but we do have a little debt like most people do. We decided last week that we are going to wait to buy our new house. This house is just fine for us and if we live here another year, we will be able to pay off our debts and have plenty of money left over to save. We are totally in agreement with each other about our plan and are super excited to see how much money we can save just by staying her a little longer. We are almost forty years old and it is important that we take care of our future now.

Så besøger du til os på Haraldsgade 1 lidt længere....Vi har faktisk haft 18 mennesker til aftensmad i dette hus og det virkede ikke lille... men i stedet for... det virkede meget hyggeligt! Jeg tager "hyggelig og sikker" hver dag over "større og mere dyr"!

So you will come to visit us at Haraldsgade 1 a little longer..... We have actually had 18 people for dinner in this house and it did not see like it was small... instead, it just seemed really cosy! I will take "cosy and secure" any day over "bigger and more expensive"!


Anonymous said...

Totally understand your decision. It's not important to rush things up and I am glad you and Mads decide to wait.

I don't think Albert and Emmitt wouldn't mind to wait either before they have a big garden to run around in :)

BABS said...

People who were 100% sure of getting mortgages before the banks went wonky are now being refused mortgages. Danish banks have pulled their reins in. I know two well experienced teachers without debt who were refused a mortgage..something about numbers not adding up, but's a changed system.

A few years ago anyone seemed to be getting mortgages and buying houses in Denmark..people on welfare were buying into houses because their income was 'secure'.

I was under the impression that this is the right time to buy a house, because people are desperate and the market is so slow. But the problem is the insecurity of it all..and the banks won't support those they may have supported before.

I too had a plan to buy here again, but getting into a huge debt of a mortgage would seem like the fly in the ointment of the dream. Despite what Oprah said on her visit to Copenhagen, the fact of the matter is that lots of people are losing their homes in Denmark because they can't pay their mortgages. This is not security.

Renting is what we are doing, and we get to live in cool houses we can change when we have had enough or want to try something new. I like the freedom of renting homes.

Renting is probably the most stable option. The worst expense with a mortgage is that the bank basically owns your house. And the banks will only sponsor sure returns these days, it seems. A landlord is often more accommodating.

However! Not trying to talk you out of it or anything, but if you are one of the lucky few who can get a bank to give a mortgage...and what with house prices being so low, maybe you should try and find a cheaper house that needs some work doing on it and you can spend the next decade or so doing it up?

If a dream is really important, and it keeps coming back, then maybe it is worth fighting to keep alive?

Corinne said...

To ride on Babs' coattails, it's seriously scary how many people are STILL rushing into mortgages if they get can get one, without thinking. I applaud you and Mads for taking the time to think and plan what is best for YOU, not the best for what you WANT.

An example: my Norskkurs teacher was, in her words, "very surprised" when I and another student stated you want at least 20-30% downpayment for a house before you buy. "But you just need a co-signer!" She said.


But, hey! If you like the place you're in now, and you are happy with waiting to take the plunge...MORE POWER TO YOU!

May said...

We made a similar decision some years ago, and looking back I can definitely say it was the right one.

Caution/Lisa said...

That you are in agreement over a big money issue puts you ahead of many marriages. Good decision. Good thinking :))

United Studies said...

What a really wise decision to make! I think you will find that in the end, it was the best decision.

Peter and I waited 5 years to buy a house after we married and moved back to the US. Friends and real estate agents were always telling us that we should buy, but we said no. We just continued to rent and save money.

I read economic magazines all the time, and through my readings come to the conclusion that the end of 2008 and beginning of 2009 would be the best time to buy...and I was right! We bought in April at the bottom of the housing market, and now prices are going up already. We bought our house for $330,000 and there are now 3 houses for sale in our development ranging in price from $340-$400K.

Trust your instincts!!

LadyFi said...

Good choice! We bought our house 9 yrs ago, and these days, it's about the same cost as renting. It's smallish, but we too don't want to end up with a huge mortgage round our necks.

Paula said...

Im a strong advocate of getting into the property market early and paying off your loans regularly until you own your own house. Its one of the best investments there is. Thomas and I opted to buy a very cheap house rather than one that we couldnt afford. There is a lot of pleasure in fixing up a house. The prices are low now and you can get one which you can work on together- and when the prices go back up you can sell and get the house you really want. But you live with a man with a background in banking, so maybe I dont know what Im talking about ;). Luxus faelden is our favourite program too!

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