Building a home - The beginning is always difficult - How does it start?

  • Erstellt am 2018-09-02 17:59:22

Caspar2020

2018-09-03 14:38:23
  • #1


um, rent is not the same as financing options. A house needs more than just ancillary rental costs to operate. Simply put, loan + ancillary costs + reserves for maintenance/repairs.

Per sqm, you can already estimate €1-1.5 for ancillary costs, plus another €1 for reserves


Comes from IT....


So that means between zero and a little? No BVS? Or how much could grandpa contribute.

---
- I would ask around what the price per sqm of land is in your area.
- At the same time, pressure my house bank or local bank, or a broker, on what is actually possible with your budget.
- Keep a household budget book.

As first steps.

For the house itself....

Maybe rather estimate €2,000 per sqm...
 

HausbauTiNa

2018-09-03 16:13:33
  • #2
Roughly:

1,100 euros equals 300k loan
Land, if cheap, 50k
Acquisition incidental costs: 5k
Utility connections: 15k
Outdoor facilities: 15k
Additional construction costs: 25k
Kitchen: 10k
Painting, flooring, etc.: 5k
Reserve for unforeseen expenses: 10k

That’s already 135k.
That leaves you 165k with 0 EUR equity.
You will not get a real house for that.
 

thehax

2018-09-03 17:55:26
  • #3
That is quite a lot of additional input. I will collect the constructive criticism from this.

    [*]First, I gather that we should initially save as much equity as possible. (Tax refunds into a savings account, maximizing the monthly surplus and putting it into the savings account, finding a mini-job for my wife, etc.). I have been keeping a household budget anyway for years.
    [*]Then we should inquire about the prices for plots of land. I will contact the municipalities that might be suitable for us. Let’s see how far I get with that.
    [*]And schedule an appointment with one or more financial advisors for real estate or the house bank to explore the possibilities.

I was surprised that the possibility of grandpa financially contributing received so little interest. He is still working at the moment, also has rental income, and can expect a not insignificant civil servant pension.
Is he nevertheless irrelevant for financing (apart from possibly contributing equity)?
 

11ant

2018-09-03 18:13:19
  • #4
The grandfather as a solvent tenant is almost irrelevant. That means if he only guarantees for you that you can make the repayments, that does not count. As a significant factor, the grandfather must be included in the circle of borrowers as well. Maybe there was a misunderstanding between you on this point?
 

thehax

2018-09-03 18:16:02
  • #5
Okay, yes, that was intended as an option with the granny flat.
 

Kekse

2018-09-03 19:21:16
  • #6
That can of course help a bit depending on the exact agreement - but it makes him a co-owner of your house. Which is not necessarily a bad thing per se, but - simply put - are you the only heirs when the time comes?
 

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