European Stars And Stripes (Newspaper) - May 27, 1986, Darmstadt, Hesse                                A Little farmhouse a lot of work by  editor y ear olo Terrance one of the happiest babies around never has a Dull moment. He has super Busy parents 1o keep him amused. They Are always moving things hammering things pain ing in legs Terrance loves to watch. The reason Lor All the Calm to in the Home that was awaiting his arrival. Located in the former farm Village of Gate Shell now More a bedroom City Lor people who Are employed in nearby Darmstadt the two Story House keeps his mom and dad Brian and Jane jumping. It once was a Small farm said Brian. The original halt timbered House was levelled in the British bombing of the area at the end of world War it. The House As it stands was Bull in 1949," in the years following ii had been occupied by tenants who had allowed it to run Dawn. There is a lot of remodelling to do and Brian and his wife Jane Are doing i themselves. The work it no easy. It is certainly not for anyone who in l Handy and patient. ,. For example Alt the Interior Walls need repainting and 1o do so in most cases Means stripping off old wallpaper there were seven layers of ghastly designed wat paper in the living room said Jane. That was a real  the cout Yord of the farmhouse in Griesha Iai Germany with ill Large Walnut trite. Other problems in the basemen. The Wood siding put directly Over an uninsulated Cement Wall had rotted Aid had Loba replaced. In the attic Brian showed How someone had used cardboard boxes from the local grocery store As insulation eventually we plan to put a Ludlo apartment up Here but Here s lots to do before we get thatlar."., already though the improvements the two have made Are substantial. Besides rewiring the whole House and putting in a new Healing system we had certified workmen do those Jon they have redone several rooms. The ugly targe patterned wallpaper is gone from 1he living room. Now pure while Walls and gleaming natural Wood floors give a new look of Chic. Brian and Jane who both work for the same . Government Agency decided to buy in order to make better use of the housing allowance they receive. They plan to stay in Europe Tor an indefinite period and though the Money would be Beller put into equity in a House. Our parents Are horrified said Jane. They think it Means we Are never coming  they started House Hunting by checking newspaper ads and comparing prices. When we bought the Bottom had fallen out of the real estate Market and the Dollar was High Don t think we would have ventured into it now we could t have afforded it at today s Low Dollar  the main idea was to buy with the Hope of making a later profit. Property values in he area Are climbing we May sell in 10  ,. They looked at Row houses in the beginning but were not impressed by the postage stamp lots. They tonally found the Houie through a real estate agent who charged them a 5 percent commission. Getting to know the ins and oils of German financing was a real learning process they said. We discovered that there were More possibilities than in the United slates the mortgage life insurance plan Lor example. They however chose a regular Bank loan. The Banks were falling Alt Over us. They were eager to have our business.". They chose a Dis Aga discount Bank loan in which you pay the interest in Advance and then can. Write it off on your income tax. We bought in december so we could worse off the whole year s interest they paid 250,000 Marks $80,645 at 3.10 Marks to the Dollar for the House and got a loan Lor 7.5 percent. Buying in England an affordable option Bidav Odiehl . Bureau buying a Home in Britain is an option. Americans in the military Community can exercise and afford. But while Home buying in England Scotland or Wales is similar to thai in the United steles there Are significant differences. The majority of Homes in Britain Are owned by tenants rentals outside the big cities Are Tewal the process of selecting buying and Selling a House is Complex. For example there Are myriad people real estate agents appraisers Bankers lawyers Etc who reach Inlo the buyer s pocket for a share of the Sale. Buas in America property values ate on the Rise. Holding on to a properly Tor two to three years can Reward the owner with a decent it not substantial profit. Not Only that according to one real estate agent rentals around the american bases Are High because salaries on the bases Are. On the average twice that of the surrounding British Community. Rents can easily Meel or exceed the equivalent mortgage payment of a similar Type and size House. Homes in Britain Range from 400-year-old thatched roofed cottages set on Beau ully landscaped plots to modern Brick Multi Story Homes set on Large Community like estates. The choices Are endless and As in America dream Homes exist. For Many americans stationed in Britain the search for a Home begins soon after Jet lag wears of. Some families spend months living in temporary quarters waking for government housing or searching for the rare rental thai suits their needs. Some choose to go into the buyer s Market. Although ii May take a Little longer than waiting for base housing or finding Sulla be rental property Home buyers As in the states have a distinct financial advantage. They know there s a likelihood of getting a Reid in on i her housing dollars. The British housing Industry is on the upswing. Favourable interest rates the lowest in two years and a lot of available Money make the financing Side of. Buying a House a Little easier. Banks and lending institution Are eager to sell their Money and Many encourage the american buyers. According to Tanis Baker an agent for one of the major real estate Selling firms in Britain it s easier now for americans to find financing Lor a House she said that since american salaries Are on Iha average higher than their British counterparts americans usually qualify Lor higher mortgages. But she Eddo the monthly payments end up being higher. Air Force housing Ollices have a special formula for figuring rent plus allowances for military members with mortgages. For example an e-5 with dependents would get a maximum of 225 pounds a month about $342 Lor a 35,000 Pound about $53,000 mortgage. Those figures Are based on a Pound Dollar Exchange rate of Pound to $1.52. The formula Tor figuring the monthly ceiling Basic allowance Lor quarters and real plus is this Cost of House less the Down payment divided by 120. Page 16 the stars and stripes tuesday May 27, 1986