Why is the option to continue building equity not a consideration for you?
Everything is possible, you can also study part-time.Uh?????
The question is: are the €370,000 available to you with financing including the land, or does the land already belong to you? If the land still needs to be purchased, it will be tight to impossible.
The thing with my parents' house serves only at most to maybe get slightly better conditions anyway. We immediately found a bank that would finance us, namely our house bank, the Sparkasse. We talked to them about an amount of €340,000. But we are currently considering building the house a bit bigger and for that we would need about €15,000-20,000 more with a buffer. The land is already included in this amount. We are building in the village. Our 880 sqm plot costs only about €45,000 right now. Our little house currently has just under 130 sqm. We want to start building as soon as possible in order to put the money for rent rather into the loan. Also, our dream plot is currently available. For my boyfriend, this also reduces the commute to work by 35 kilometers.
Uh?????
You won't find many banks with zero equity. If you do, it looks something like this:
We are building in the village. Our 880sqm plot costs with everything included just about 45k. Our 130sqm house with a conservatory, without a basement, with an attic, costs about 200,000.
Our house bank immediately agreed that they would finance us with an amount of 340k without any ifs or buts. That is the Sparkasse. But we are currently considering making the house a bit bigger and asking whether we could get 355 or 360k. We are unsure about that, though, as we don't want to overextend ourselves.
You won't find many banks with 0 equity.
My parents transferred their house to me 15 years ago, the house is paid off and has a value of about 140,000. The house is not being sold, my parents currently live in it.
Our 880sqm plot costs with everything included just about 45k. Our 130sqm house with a winter garden, without a basement, with an attic, costs about 200,000.
Our house bank immediately agreed that they would finance us with an amount of 340k without any ifs or buts. That is the Sparkasse