Assess interest rate conditions!

Have you already had the sampling? The "basic equipment" according to the construction service description is quite sparse in most cases – if the sockets are missing afterwards, it’s annoying. So for us, the sampling hasn’t taken place yet and we are spending 70-80k€ more just for the house. You are at 1237€/m2, which really doesn’t promise much in terms of equipment/quality.

We have not had the sampling yet. We visited a show house and were quite impressed, as the builder had chosen almost everything according to the standard construction service description, except for slightly higher quality tiles and a more elegant double washbasin. The electrical installation will be done by the construction company, but my father (an electrician) will then improve/extend and upgrade it accordingly.

: We are building a detached single-family house with approximately 155m2 of living space on a 526m2 plot.

Costs:

House: €191,800
Plot: €81,900 including all development costs
Equity: €26,000
Own contribution: €16,000
Additional construction costs: €30,000

Thanks for the information!

I have my doubts that you will manage with the above figures for your construction project. But I’m happy to be proven wrong once you have moved in ;-)

Rhenish greetings from on the road
Bauexperte

Gladly, but this challenge drives me. I will report back.....

I have one more question, is the term 30 years or actually the fixed interest period? Then in my opinion it would be favorable...

Hi,

If you have already signed, the question is rather pointless, isn’t it? Or do you just want to give yourself a bad feeling now? There will always be someone who thinks it’s too expensive.

The answer was also on the tip of my tongue. We only have a 10-year fixed interest rate, but we are FAR below these conditions. For that, the loan including special repayments is almost paid off after 10 years, and the last small remainder can then potentially be handled with 5% interest without any problems. But the conditions always depend on the individual situation, especially your income and equity. So the comparison doesn’t really help you, does it?

You have already signed anyway, don’t dwell on it anymore and focus on getting your house built. The price is really very reasonable, is there already a roof on it?!

Many greetings to beautiful Münster (it’s my hometown :-) )

Andreas