Struggling young Polish couple - try to solve their problem

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Edited by: pgtx Jun 3, 11, 17:40 #1

Let's try to solve the problem of this young, Polish couple, living in today's Polish reality:

Age - both 27 years old.
Education - Both high ed.
She works as a clerk.
He works in a private company.
Monthly salary - together 3,000 zlotych.
Married.
Living with parents.
They want to buy or rent an apartment.
If they rent, there is so little money left to the next paycheck.
Bank refused to give them a loan for an apartment because they do not make enough money.
They have a nice amount of money for a down payment.

What do you think they should do to be on their own?

ShortHairThugThreads: - Posts: 1,374 Joined: May 1, 09 ♂	Jun 3, 11, 17:46 #2
They should press for VWP so they can start fresh? On topic and at the same time let’s reopen the other thread since some Mod closed it.

gumishuThreads: 17 Posts: 3,943 Joined: Apr 6, 09 ♂	Jun 3, 11, 17:46 #3
pgtx: Bank refused to give them a loan for an apartment because they do not make enough money. They have a nice amount of money for a down payment. What do you think they should do to be on their own? take a more risky loan (higher priced)

HarryThreads: 62 Posts: 8,508 Joined: May 2, 07 ♂ [Suspended]	Jun 3, 11, 17:47 #4
pgtx: What do you think they should do to be on their own? If they are both university graduates, why do they make less than they would make working at McDonalds?

pgtxThreads: 49 Posts: 6,327 Joined: Feb 14, 09 MEMBER ♀	Jun 3, 11, 17:49 #5
Harry: why do they make less than they would make working at McDonalds? other companies, with higher salaries, want people with more experience than they have.

BzibziohThreads: 6 Posts: 3,657 Joined: Oct 15, 08 ♀ [Suspended]	Jun 3, 11, 17:50 #6
pgtx: What do you think they should do to be on their own? The same thing other young people do: go abroad for two-three years, save money, come back and buy an apartment.

WroclawThreads: 77 Posts: 7,404 Joined: Apr 1, 06 ♂ [Moderator]	Jun 3, 11, 17:51 #7
pgtx: Bank refused to give them a loan for an apartment because they do not make enough money. there is a scheme to help first time buyers with new builds. i know nothing about it though.

ukpolskaThreads: 51 Posts: 2,238 Joined: Oct 23, 06 MEMBER ♂	Jun 3, 11, 17:52 #8
They will be very hard pushed to do anything, but there is one option open to them. That is to have the mortgage secured against one of their family's property, but with 3,000 zlotych a month they will have to have quite a substantial down payment.

pgtxThreads: 49 Posts: 6,327 Joined: Feb 14, 09 MEMBER ♀	Jun 3, 11, 17:53 #9
Bzibzioh: go abroad for two-three years they want to stay in Poland ukpolska: a substantial down payment. how much would you say?

gumishuThreads: 17 Posts: 3,943 Joined: Apr 6, 09 ♂	Jun 3, 11, 17:54 #10
Bzibzioh: The same thing other young people do: go abroad for two-three years, save money, come back and buy an apartment. pretty much obsolete - where'd go - to the UK??? - perhaps Germany is an option or Norway

BzibziohThreads: 6 Posts: 3,657 Joined: Oct 15, 08 ♀ [Suspended]	Jun 3, 11, 17:56 #11
pgtx: they want to stay in Poland That's the luxury they can't afford right now. There have to be some sacrifices.

BartolomeThreads: 2 Posts: 1,345 Joined: Sep 14, 06 ♂	Jun 3, 11, 17:58 #12
Rent.

♂

Jun 3, 11, 17:59 #13

pgtx:

She works as a clerk.
He works in a private company.
Monthly salary - together 3,000 zlotych.
Married.
Living with parents.
They want to buy or rent an apartment.

Let's get this straight 3,000 zl both, roughly 1500 a head, or one making a little more than the other. Anyhow, that's far less than the supposedly 3,600zl national average. Plus they obviously don't pay rent, maybe chip in for the bills. I thought everyone on this Poland living there is saying how Poland has prospered in recent years.

ukpolskaThreads: 51 Posts: 2,238 Joined: Oct 23, 06 MEMBER ♂	Jun 3, 11, 18:02 #14
pgtx: how much would you say? My wife's cousin has just purchased a flat for 280,000pln, I guess their combined salaries are roughly about 5,000pln per month. I know their flat was secured against his fathers house and he had to put down a down payment of about 20%, but I am not fully confident with these figures, but it is in the bull park.

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Edited by: pgtx Jun 3, 11, 18:02 #15

PennBoy:

Let's get this straight 3,000 zl both, roughly 1500 a head, or one making a little more than the other. Anyhow, that's far less than the supposedly 3,600zl national average. Plus they obviously don't pay rent, maybe chip in for the bills.

that would be correct

PennBoy:

I thought everyone on this Poland living there is saying how Poland has prospered in recent years.

i wonder about that too

Wroclaw:

there is a scheme to help first time buyers with new builds. i know nothing about it though.

i thought, it's not anymore?

gumishuThreads: 17 Posts: 3,943 Joined: Apr 6, 09 ♂	Jun 3, 11, 18:03 #16
PennBoy: that's far less than the supposedly 3,600zl national average. 3600 national average is gross - so it's like 2400 net - and still I don't know where do they take these 3600 from if most people in salary get around 2000 PLN gross (and millions get less than that)

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Jun 3, 11, 18:04 #17

well, if the bank thinks they don't make enough money to make the monthly payments, there might be something to it, particularly if you're saying they can't even afford rent. (and you have to remember, owning your place costs much more than just the mortgage payment)

can they borrow money from family, as opposed to the bank?

join the military, get free housing?

they really need to do something new, out-of-the-box. living with parents is not healthy in the long run, and unless they're willing to take risks, nothing's going to happen. at the end of the day, they need to figure out how to make more money.

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Jun 3, 11, 18:08 #18

ItsAllAboutME:

they can't even afford rent.

rents are high
and besides, it's just throwing away money to something which will never be yours

ItsAllAboutME:

can they borrow money from family, as opposed to the bank?

they already did, it's worth of 20% down payment...

ItsAllAboutME:

join the military

Polish army doesn't work like the American army

ItsAllAboutME:

get free housing?

how so?

ItsAllAboutME:

they really need to do something new, out-of-the-box

yes, i'm waiting for your ideas, guys :)

♂

Edited by: FUZZYWICKETS Jun 3, 11, 18:15 #19

i can't understand buying real estate at this stage in their lives.

rent.

avoid a high monthly payment along with paying interest on a huge number till their salaries go up. you don't like how that sounds? your bed, lie in it.

I say go abroad....but then they'd be turning their backs on Poland!.........eeeeeeeehhhhaaa!...........what would Walesa say to that?!!!

ItsAllAboutMe wrote:

at the end of the day, they need to figure out how to make more money.

why didn't I think of that! that's it! make....more....money!!!!

BTW, can we tie this thread into the "Who is Poor in Poland" thread? ;)

♂

Jun 3, 11, 18:16 #20

gumishu:

3600 national average is gross - so it's like 2400 net - and still I don't know where do they take these 3600 from if most people in salary get around 2000 PLN gross (and millions get less than that)

Ok fine let them mean gross, so 2400 is still far more than their 1500zl a month. national average should be counted within the classes, not with millionaires.

ItsAllAboutME:

join the military, get free housing?

might as well join the f'in peace corps LOL.

pgtx:

Polish army doesn't work like the American army

I had a buddy (Pole) here in the US Navy pay was ok,food was free and pretty good, and one had the option of living on base for free or renting an apartment off base and the military paid for it.

FUZZYWICKETSThreads: 12 Posts: 1,997 Joined: Nov 3, 09 ♂	Jun 3, 11, 18:18 #21
PennBoy wrote: so 2400 is still far more than their 1500zl a month..... but the national avg. is propped up by bloated salaries. take away the millionaires and you get a much more, and realistic, number.

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Jun 3, 11, 18:20 #22

i agree, renting a place only works in certain situations (like, you need to be able to move frequently), otherwise it is a waste of money. I still think it's better than living with parents.

doesn't the military offer housing for professional soldiers? I thought it did, but I admit it was just my assumption.

they obviously need some career advice, can't offer much since I don't know what they do or what their education is.

invest the money they borrowed from their family and start their own business instead?

i wouldn't advise them to go to the UK, unless they can get a real job, not construction or housekeeping, because even if they make some extra money, after they're done, they're two years older, back to the same situation in Poland, and nothing to add to their resumes to help them get better jobs.

teflcatThreads: 6 Posts: 1,071 Joined: May 29, 11 ♂	Jun 3, 11, 18:21 #23
Doing what we did is an option. Tell the crooks at the bank to put their mortgage where the sun doesn't shine, buy a plot of land and build over several years. It's not easy but you can move in and camp once you've got the basic utilities in. Not including the cost of the land we've spent a little over 200k for a 105m2 house.

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Jun 3, 11, 18:22 #24

Bzibzioh:

The same thing other young (POLISH (i inserted this)) people do: go abroad for two-three years, save money, come back and buy an apartment.

is that what you did?

Harry:

If they are both university graduates, why do they make less than they would make working at McDonalds?

University grad doesn't necessarily translate into good (drone money making machine) employee.

pgtx:

other companies, with higher salaries, want people with more experience than they have.

Correction these companies want candidates that can make more money for the company, experience usually translates into more money for the company. That being said bright young grads with the right corrupt and money making visions should be exploited by the right companies even if it means working test periods and lower wages at first. Perhaps they dont understand the fundamentals of the success game, people with high morals usually dont fare to well on a corporate level. You have to be a right (unt to get rich these days.

pgtx:

What do you think they should do to be on their own?

Rebel against the system, cases like these will only get worse the longer the monetary system exists.

PennBoyThreads: 157 Posts: 3,440 Joined: Dec 7, 08 ♂	Jun 3, 11, 18:22 #25
FUZZYWICKETS: but the national avg. is propped up by bloated salaries. take away the millionaires and you get a much more, and realistic, number. I know Fuzzy that's what i said :) PennBoy: national average should be counted within the classes, not with millionaires.

WroclawThreads: 77 Posts: 7,404 Joined: Apr 1, 06 ♂ [Moderator]	Jun 3, 11, 18:31 #26
teflcat: buy a plot of land and build over several years. these days they will still need credit at some point. or short term loans.

♀

Jun 3, 11, 18:33 #27

I would take the practical road: stay with the parents for 2-3 more years. That lets them save a lot of money. If the parents are bothering them too much (although I'm sure the parents are inconvenienced by them staying in their house too), they should just go for long walks or go camping on the weekends. I would work my a$$ off and learn whatever there is to learn at their jobs and then look for a better paying position. With higher earnings and the savings from not paying rent they will probably get a loan and be able to save up for a good down payment.

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Edited by: ItsAllAboutME Jun 3, 11, 18:34 #28

Wroclaw:

these days they will still need credit at some point. or short term loans.

true. I still like the idea. You can save a lot of money if you learn how to lay tiles or hook up light fixtures yourself. there are some things they would definitely need a professional for. I hope they have a buddy or a cousin who is a plumber or roofer, who can do the work at cost.

Marynka11:

I would work my a$$ off and learn whatever there is to learn at their jobs and then look for a better paying position.

yes!

♂

Jun 3, 11, 18:35 #29

Wroclaw:

these days they will still need credit at some point. or short term loans.

As some posters have already said, these guys need to get their breadheads on. I worked my arse off for years to start building, seven days a week most of the time. There is money to be made in Poland but you have to work work work. Believe me, it ain't easy but if you really want to get away from living with the in-laws, you have to hustle.

Marynka11Threads: 8 Posts: 1,447 Joined: Nov 3, 10 ♀	Jun 3, 11, 18:41 #30
Or if it's really unbearable with the parents maybe they should consider renting a 2 bedroom with another couple? They are young, childless and in love. Lots of my friends did that right after getting married and finishing school.

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