Build or save? What do you think?

I wouldn't invest all the equity either. The plot is only 600m2 but the price per m2 nowadays is 125€ even here. However, the village has everything like kindergarten, school, supermarket, etc. We could also live without a basement, as we don't have one now. However, we would need some storage space, which is planned to be above the garage. Yes, the bank appointment would certainly be useful to know how much would be feasible.

I would do it the way EveundGerd suggested. First go to the bank and see how much you can afford and have the conditions calculated for 20 years in the best way.

If we keep saving, we would have at least €30,000 more equity in 3 years, but by then everything will be more expensive again, interest rates will rise again, and the children will be older... I also don't think we can manage €350,000, so the house would have to be cheaper, but where to save?

That is all alarmingly true, and ideal conditions almost never exist anyway. But even so, the calculation is tight, so the costs should be reduced by a good margin.

First the basement (there's storage space in the attic as well) and then if possible with own labor. There are plenty of cost-reducing tasks in construction that one could do oneself with a bit of craftsmanship skills. Alternatively, there are companies that offer complete self-build concepts with material packages, but that would also be a lot of work. Possibly technical trades could also be taken over by them. To save a noticeable amount here, you also have to do a lot of work; whether you can/want to do that with 2 children in terms of time or craftsmanship, you have to decide. It definitely won't be easy...

I would generally push the garage to the very end of the planning. So if the tight calculation works out, it will be built; if not, then it will come a few years later.

That building is becoming more expensive may be true, but at the moment it rather looks like the interest rates will stay low for now.

Currently, interest rates are stable and are expected to remain so for a while. However, the annual savings rate is already offset by approximately 3% price increase per year (depending on the house price), and this is very likely. The rent paid during that time is, of course, also lost.

I do not want to advise anyone here; everyone has to decide for themselves. For a 1000, with 2% interest and 2% repayment, the bank provides roughly 300k, with a calculated term of 35 years if nothing is ever changed. However, at many banks, repayment rates can also be adjusted later... The 250,- "surplus" should also continue to be saved; something always comes up.

Good evening,

First the basement (there is also storage space in the attic) and then if possible with own labor.

D'accord.

There are plenty of cost-reducing tasks in construction that one could do oneself with a bit of craftsmanship.

Like what ... besides drywall?

Alternatively, there are companies that offer complete self-build concepts with material packages, but that would really be a lot of work. Possibly technical trades could then also be taken over by them.

You’re not really serious ... are you?

I would generally push the garage to the very end of the planning. So if the tight calculation works out, it will be built; if not, it will just come a few years later.

Again, d’accord.

Rhenish regards