Build a house - It should be a prefabricated house

Hello dear forum,

I have been thinking about building a house for a few months now and, since the topic of house building is completely new to me, I have a few questions that you might be able to answer.

1. After some research, I am leaning towards a prefabricated house. These things are said, despite their bad reputation, to hold up well in terms of durability and lifespan compared to a solid house. The downside here is probably the depressed resale value due to the aforementioned prejudices?

2. As a maximum, I have set 200,000-250,000 for the plot of land + house. In addition, another 50,000-80,000 for interior finishing and incidental costs. Maximum sum therefore 330,000. Does that sound realistic to you or would you tend to advise against a prefabricated house? (if yes, why)

3. I would like to start the building project at the end of next year with equity of ~100,000. The rest I would preferably finance through my house bank and set high installments to get out of this as "damage-free" as possible.

Currently, I can save well 6,000-7,000 euros every month. Should I put the entire savings amount into the installments or rather less in order to still be able to cover the installments in an emergency?

1. Neither do prefabricated houses have a bad reputation, nor are they more durable or of better (or worse) quality than masonry houses. 2. You can easily manage a 20 sqm house with it - 200 sqm rather not. 3. You can do as you want, I suppose - it is unclear what damage you fear. If you expect that you cannot maintain your income at the same level over the entire (manageable) duration of the loan, I would advise you to choose a lower rate. Without meaning to be offensive... you do sound a bit like a troll.

No offense... you do sound a bit like a troll.

Nope, why??? A parallel thread also has the parameters of 330000, just with a lot more demands on a double garage and other fancy stuff. It seems rosier for you, despite less equity ;)
: are you paying 20000 or 120000 for the plot - that roughly depends on it!

I feared that I would be labeled a troll :)

I also like to justify myself with seemingly stupid questions:
I worked for 10 years as a full-time software developer for various startups and was always very satisfied with the income (and would still be today).
However, one of my side projects developed so well during this time that I decided to quit the job and start my own company.
The company is working and is currently growing very healthily/controlled.

I hope this can dispel the original troll image and get back to the topic :)

:
1. In my experience, prefabricated houses, due to their construction and the materials used, regardless of the actual quality, have to deal with many prejudices. As I said, I am an absolute novice in this area and grateful for any sources!

3. The feared damage is of course the interest :)
I was hoping for some tips/tricks regarding financing with such high rates.

I can of course also recognize the trolling tendencies, especially since the described situation and the associated problems probably affect less than <1% of the population in DE.

But as long as the opposite is not proven, one can at least respond.

I would like to offer you the following advice for consideration:

1) I am not sure whether your budget will be sufficient. Depending on the price of the property, there may not be much left for the house. And if you plan to move to rural areas, check before purchasing whether the requirements for internet (especially considering your professional background) can be met.

2) With roughly a 230k loan and this range of repayment options, I would, for example, structure the loan as a full repayment loan over 5 years (which corresponds to about 5,000 euros monthly installment, plus another 10k possibility for special repayment, with which you can shorten the loan by a good half year.

With the current interest rates, it usually does not make a big difference whether you fix the loan for 4, 5, or 6 years, although 6 years is naturally somewhat more expensive in euros at the end because the repayment is a bit slower.

All in all, however, this is a luxury problem, where I see the crux rather in the investment amount.

And finally, the bank must consider your project realistic, especially against the background of self-employment.

Currently, I can save a good 6000-7000 euros every month. Should I put the entire savings amount into the installments or rather less in order to still be able to cover the installments in case of emergency?

wow 6-7000€ I would also like to be able to save every month

and I imagine that we are doing quite well ;-)

fingers crossed that your income stays that high in the coming years and everything goes the way you envision it

330,000€ is certainly not an unrealistic amount

but of course it depends on land prices, the size of your planned house, how many people the house is to be built for, and so on...

We ourselves are also in the decision-making process, but have gone through everything once before and are therefore already a bit "more cautious" with numbers :-)))