Reply to Beyond Frustrated in Vienna market

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[quote=Anonymous][quote=Anonymous]Op is asking the right question though… who are you losing to? Answer is people who have more money than you or are willing to do things financially that you are not willing to do.

Op, you are not alone, and you are not “wrong” by setting your limits. We are in the same boat, looking for houses in a similar price range and are consistently surprised, and in some cases, frustrated. We have a good income and are set up well financially (800k HHI, 3m liquid assets, early 30s), but we have always believed that it doesn’t make sense to over pay.

We feel the same pressures as others. We have a 2yo and want to settle into a community, but we have our limits. We know what we think things are worth to us, and we have decided that we will not get pushed into something that feels like an overpay.

Best advice, try not to worry about it, set your budget, stick to it, and pocket the money that you save when you lose. You might find that in a few years you are much wealthier and in a less competitive price point, capable of making a deal that makes sense for you.[/quote]

A lot depends on whether you consider yourself still upwardly mobile or topped out.. You are young and already accumulated more wealth than many people decades older than you in this area, you should be confident that you can continue to earn what you do or more and multiply your wealth.  But there are a lot of factors outside of our control these days, plus people having young kids have many years ahead of child related expenses. Everyone's situation is different, some people in your shoes would overextend to buy a nicer home for long term, while others would prioritize living below their means.  The former may feel more confident, maybe expecting an inheritance or having parental help or at least not having parents they may need to support, etc.  The latter may feel stressed about their ability to keep earning the same with the challenges of parenthood on top of it and future eldercare if their parents are not wealthy to float themselves and not poor enough to qualify for every subsidy.  
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