But no daydreaming. First the plot.
I still disagree. First determine the financial framework to see if the project is even realistic. You can't live comfortably on plots alone.
Maybe rather estimate €2000 per sqm...
I deliberately took €1800 because it's standard and in SH.
I was surprised that the possibility of Grandpa financially contributing received so little approval. He is still working at the moment, also has rental income and a not insignificant civil servant pension prospect.
There is only one scenario in which Grandpa is helpful: if he gives you something, unconditionally.
Often people come here thinking the situation improves if mother-in-law, grandpa, or someone else moves in because they have cash. Usually, it turns out that the older generation (and the builder) have no real sense of today’s construction costs. Then €100K is promised, but in return, a 100 sqm granny flat must be built. Yeah right, sure. Even if it were only 50 sqm, that would at best be a break-even game for the builder.
And rental income is still taxed and not a guaranteed solid business even with Grandpa.
Let Grandpa build the house and you rent from him, do rent-to-own, or simply inherit the house (if sole heir) :)
But however you look at it, potential co-heirs will want to have a say.
Is he nonetheless irrelevant for financing (apart from possibly contributed equity)?
As said, if he gives you money, that’s good.
Otherwise, he can join the financing as a guarantor with his income. But think about whether you, as an adult, really like that idea. Also, it doesn’t improve your loan conditions and doesn’t help with repayment. That can only be important if the bank thinks the monthly installment doesn’t fit your income.