Assessment of construction project with own labor as well as financing

I do not see 100,000€ savings through own labor as realistic. The shell needs materials and machines, I don't see that much savings there.

Material requirements should be about 40% of the shell's costs. Savings from just the masonry work are well over 50,000€ according to my boss. Most machines are not needed. Many are already available and missing ones are borrowed from colleagues as well as my boss. Do you have any cost breakdowns for building a shell or how do you come to such an assumption?

There is no existing building? Especially if you can do a lot yourself, that is often the significantly cheaper way.

Do you mean turning old into new? Houses that are not quite 70 years old still cost a hefty 3xx.xxx€ and so that is definitely not an option...

Material costs should be about 40% of the shell construction costs. Savings on the masonry work alone are well over €50,000 according to my boss.

Convert that into working hours.... do you have that many people in reserve who work for you for free?

Calculate that into working hours.... do you have that many people on standby who work for you for free?

The house will not be standing in one year, that is clear to me. Rather, it will take around 1.5+ years. Vacation days have already been accumulated very diligently and with a current bricklayer wage of easily over 60€/hour I reach such an amount relatively quickly.

the house will not be standing in one year, that is clear to me. Rather, it will take around 1.5+ years. Vacation days have already been accumulated very diligently, and with a current bricklayer wage of easily over €60/hour, I can reach such an amount relatively quickly

I believe it was primarily about the number of hands and the experience. A lot of it is really straightforward and you can push the price down with EL, but as soon as there is even one thing wrong, the finger is immediately pointed at you. The price could be right, although I find €60 for a bricklayer a bit exaggerated. My parents didn’t have to pay €40 for a wall in the garden last year. Your list basically includes the whole house except for small details. Our shell was up after 2-3 weeks and we had 6-8 bricklayers daily, sometimes on Saturdays, on-site. I know two people in my circle who did something similar and the construction didn’t take 1.5 years but rather around 4-5. And they had a group of friends who were also building, so they were motivated to help as well. Not to mention the machines. Sure, you can borrow something here and there, but most of it is needed and can’t be blocked for weeks. Finally, break down your €100K into hours. That comes to about 1650, and they are supposed to work almost for free for you.

"although I think 60€ for a mason is a bit exaggerated."

When you have talked to builders when you were paid by the hour there, that was the situation 2.5 years ago, it is probably also very region-dependent.

I know two people in my circle of acquaintances who did something similar and the construction didn’t take 1.5 years but rather around 4-5.

4-5 years? I don’t quite understand that... such a duration. Every one of my coworkers mostly built with the help of only one colleague and took more like 12 months (until moving in, only the shell built by themselves). Without outdoor facilities.

The 100K would be nice if they are “saved” but I don’t expect that. If everything runs perfectly (which it won’t) I could reach it. Therefore, I stick more to the 70K. I also think that with 1600 working hours I certainly won’t even come close, a few friends, girlfriend, and father-in-law will often help out. And it means for me going there every evening after work, every Saturday, and also sacrificing vacation.

You should increase the equity contribution so that you stay below the 80% loan-to-value limit. Then there will be an interest rate jump. Then 0.75 to 0.85 should be possible for 10 years.

Now the appointment at the second bank took place, they already set 80% loan-to-value and are still at 1.61 for a 30-year fixed interest rate. We were told nothing could be done about this interest rate and it would not help to bring in more equity because only at 40% equity share would there be an interest rate jump. I don’t understand why the interest rate is not even remotely approaching the 0.**%. Can you recommend any banks?