Build a small house or buy a condo?

We are dealing with over 300,000 in financing for a new build... Does a bank even finance that much for a single person? [emoji15]

Regards

As you can see, my situation is somehow complicated after all. It's enough for a (overpriced) condominium, but maybe just not enough for a small prefabricated house.

Either I make sacrifices in my standard of living and then have more money for the property. Or I live as before, but just not in my own house.

too much crystal ball guessing. Con artists, go to your local bank that knows you, I hope you have one and not just some online institute, and then discuss what’s possible. And if you’re told, Mr. so-and-so, this is still possible, that is not, don’t run to the loan broker, but believe it. Recently, banks have to be very careful and conservative in loan advice, which is correct, think of Spain, Portugal, where countless businesses were ruined because of the real estate hype and the bet on trees growing to the sky.

Keyword additional costs: If I calculate the additional costs of a small house according to the pattern of a website, then with 100sqm I am significantly cheaper with the house than with the condominium, which has 250 euros just for the household, where I also have to co-finance the elevator and underground parking.

If you understand running operating costs by ancillary costs, yes. Additional construction costs are land transfer tax, notary, court, additional excavation costs on slopes, and where in Germany is it already completely flat except in Western Pomerania and Friesland, soil removal, construction electricity and water, permit fee, about 800,-, costs for connection to gas, water, electricity, driveway, terrace, painting, floor coverings, interior filling, and the small extras. Garage, for example, cross that out. The garden can also be kept small; in many cases, standard is enough, but it adds up. We calculate 40k ancillary costs for a purchased plot, whereby painters are in the family and I also know other people otherwise. Others here calculate 50.

Professionally, I am currently somewhat tied to the region. I could try to get transferred upon request, but as a single person without social points, that’s not so easy either. The house I would then have is certainly not suitable for a large family. But if I have the small house instead of the expensive condominium for 200 euros more per month, that makes sense.

I had withheld this post. So if it could still play a role, I would wait a bit :P Two people can do more. Also in terms of financing. The bank calculates differently than the consumer themselves. Besides, they like to have a second income as security—even if a civil servant’s salary is garnishable.