Assessment of financial feasibility - is it doable?

550 sqm plot with a slight slope is available

Costs?

Cost?

55,000 including additional costs

Well, you can plan a lot. But 300k 30 years 2% simply means about 1,100 installment... that doesn’t even include the land yet. So how is the land supposed to be paid for and how much does it cost?

Regarding the land/equity

If you are listed as owners in the land register and there are no other encumbrances and you don’t tell the bank anything about the agreement with the acquaintance, then the bank considers it equity.
But that would mean you made false statements. You sign a self-disclosure with the bank. That is legally no joke if you knowingly provide false information there.

On the subject of private loans... don’t imagine it’s that simple. There is also the tax office. Google private loan tax office tax deferral etc.

Just because a private loan does not charge interest, it does not mean at all that Janosch does not have to repay it. Sure, there are agreements like, "You pay what you can" or "You pay starting from the 11th year" or "You only pay 50%" etc.

But it just comes on top. Besides, the bank will want to know where the money for the property is coming from if you are not listed in the land register.

Since you didn't say anything about the size and equipment, I assume a medium standard. So air-to-water heat pump, controlled residential ventilation, underfloor heating, fireplace, electric shutters, colored plastic windows, etc., without a basement.

Including ancillary costs, it will be almost impossible in a usual size of 150-170 sqm.

Especially since you, as a layman, already assess the property as having a "slight slope," it will probably be something around 1-2m or more in reality. Compensating for that can easily "eat up" 30k€.

But anyway, these are all just assumptions meant to get you thinking about the total construction cost.

Regarding the private loan... don’t imagine it to be that simple. There is also the tax office. Just google private loan tax office deferment etc

But it’s an additional cost. Besides, the bank will want to know where the money for the property comes from if you are not listed in the land register.

As I said, the current status is that we will be listed in the land register. And, I understand that the self-disclosure must of course include the information about the private loan or however it is ultimately handled with the bank. However, in the first step the bank will have nothing to do with the payment itself. That’s all I meant to say.

Especially if, as a layman, you already rate the property as having a “slight slope,” in reality it will probably be something like 1-2m or more. To absorb something like that can easily “eat up” 30,000€.

From neighboring builders I know that nothing has to be absorbed here and no immense additional costs have occurred. Still, you are right, and we need to clarify that.

As I said, the current status is that we will be listed in the land register. And that the self-disclosure, of course with the details of the private loan or however it is ultimately handled, must be provided to the bank is clear to me. Still, the bank will have nothing to do with the payment itself in the first step. That is all I wanted to say.



From neighboring builders I know that nothing needs to be intercepted here and no enormous additional costs have arisen. Still, you are right, and we need to clarify that.

What is actually planned? Size, type of construction, equipment?