Need advice – sell flat or keep it?

18 months ago I bought a flat in one of the big German cities at a reasonable price but found out rather quickly that it is noisier than I anticipated (actually not that bad, but it still bothers me to a degree that I don’t want to endure this for say another 3-5 years). Now I gave it a year to see if my discontent with this issue would eventually fade but I’m still rather unhappy with this flat that is not as comfortable as I initially imagined it to be.

Now obviously the interest rates have gone up considerably and I’m unsure as to what to do. I have a comparably low interest rate locked for another 19 years (ideally the flat would be paid off in 16 years), so people keep telling me to keep the flat because I made a crazy good deal. But I personally don’t think I should sacrifice my happiness over making the most amount of money that I can. Also considering finding a good rental apartment after I sold this flat won’t be getting any easier in the upcoming years.

The idea of renting out has been brought up, but to be honest I don’t really want to face the hassle of being a landlord. Also, since regular rental contracts in Germany are indefinite, the property value decreases by roughly 30 % so it’s not guaranteed I’ll be able to break even after renting it out for 3 years and then selling it tenanted.

I’m also worried that with interest rates going up I won’t be able to at least break even on this flat if I wait much longer (at current fair market price I can probably break even at the moment, maybe even bag a small profit).

I already struggled a lot with certain decisions that in hindsight haven’t been too good so I don’t really want to make another mistake here. That said, I appreciate any advice or opinion.

submitted by /u/mmm_mueller
[link] [comments]

18 months ago I bought a flat in one of the big German cities at a reasonable price but found out rather quickly that it is noisier than I anticipated (actually not that bad, but it still bothers me to a degree that I don’t want to endure this for say another 3-5 years). Now I gave it a year to see if my discontent with this issue would eventually fade but I’m still rather unhappy with this flat that is not as comfortable as I initially imagined it to be. Now obviously the interest rates have gone up considerably and I’m unsure as to what to do. I have a comparably low interest rate locked for another 19 years (ideally the flat would be paid off in 16 years), so people keep telling me to keep the flat because I made a crazy good deal. But I personally don’t think I should sacrifice my happiness over making the most amount of money that I can. Also considering finding a good rental apartment after I sold this flat won’t be getting any easier in the upcoming years. The idea of renting out has been brought up, but to be honest I don’t really want to face the hassle of being a landlord. Also, since regular rental contracts in Germany are indefinite, the property value decreases by roughly 30 % so it’s not guaranteed I’ll be able to break even after renting it out for 3 years and then selling it tenanted. I’m also worried that with interest rates going up I won’t be able to at least break even on this flat if I wait much longer (at current fair market price I can probably break even at the moment, maybe even bag a small profit). I already struggled a lot with certain decisions that in hindsight haven’t been too good so I don’t really want to make another mistake here. That said, I appreciate any advice or opinion. submitted by /u/mmm_mueller [link] [comments]

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