Assessing the affordability of home construction and criticism

My thought was just that if I wait 4 years and calculate a 5% increase per year in house construction prices, in 4 years I will pay exactly the amount more that I could have saved in 4 years… so, in a way, simply lost. Plus possibly higher (significantly) interest rates…

At the moment, you have 3200 plus an apprentice salary. That is what matters – a bank will not finance as long as you do not earn 1500€ more or your girlfriend can prove a full-time salary, because 3200 is too little.

Hello,

as I said, you have to finance 450k and not 410k. That means the annuity is higher than the cold rent plus savings rate. And if even that is not enough? How did you finance the land, variable? Or are you now tied to a bank or have to pay a prepayment penalty?

My thought was just that if I wait 4 years and calculate a 5% increase per year in house construction prices, in 4 years I will pay exactly the amount more than I could save in those 4 years…

I have 3200€ net, my girlfriend as an apprentice 900€. If all goes well I have 20k€ gross bonus per year. But I don't count on that for sure. When my girlfriend is done, according to the collective agreement 2000€ net

If you calculate that, your income will actually rise more than the construction costs increase. In addition, you are paying off the land and continue to save equity. Waiting is okay.

A couple of too many uncertainties.

For example, probation period, visa, not married, job for the girlfriend....

I agree with that as well.

I find it difficult to embark on a project with many unknowns.

Hello, you have to finance 450k as said and not 410k. That means the annuity is higher than the cold rent plus savings rate. And if even that is not enough? How did you finance the land, variable? Or are you now tied to a bank or have to pay a prepayment penalty? If you calculate it, your income does indeed increase more than the construction costs rise. In addition, you pay off the land and continue to save equity. Waiting is okay. I see it the same way.

Thank you for your answer. I would probably get a loan, and with 1.1% interest, not a bad one. It is also 410k that I would have to borrow. That is the full amount, from which the subsidy would then start. But of course you are not wrong. Currently, it doesn't look very promising yet. But as I said, in 2-3 years it will cost accordingly more. If we started now, we would at least have the price secured, could already start paying it off and then really begin when it is finished. Instead of spending all the savings only on the price increase but the same house.

And how do you come to the conclusion that with €3200 for 2 people you can get a loan of over €400k?

And with your €410k, the remaining debt for the land is missing!?

I actually agree with the opinion of almost everyone: Definitely wait!
Even with a second salary, it will be tight as soon as there are children.