Building a house without equity with a lot of self-effort

  • Erstellt am 2017-07-09 11:50:01

HilfeHilfe

2017-07-10 07:12:03
  • #1
Sell the rental house immediately. If it really brings 70k, it is great starting capital alongside the plot of land. At the same time, a question about how strong the partnership is. Have you been together for a long time, can a new building with personal contribution and the desire for children withstand all of this?
 

Peanuts74

2017-07-10 10:53:06
  • #2


It was said that the old house is in another town, so it will not be the same plot. And 120sqm without a basement for 4 people is also quite tight, but it doesn’t have to be 180sqm, that’s true.
If you calculate 50-60 for living, dining and kitchen, approx. 45 for 3 bedrooms, bath, 12, WC 3, technology 10 and one more room of approx. 15sqm, you’re quite well at 150sqm. Since a lot is supposed to be done by yourselves, you might get by with 1,600€/sqm and be at 240,000 for the house, meaning about 300,000 including incidental costs and a bit of extras, but nothing extravagant.
If you sell the old house plus your 15k€, you’ll have almost 100k€ equity, then I would inquire about around 240k€ loan and the world looks a bit different.
 

Peanuts74

2017-07-10 11:04:59
  • #3


There are other insurances involved as well, and otherwise I don't think 500.- per car is much...
 

Lumpi_LE

2017-07-10 11:14:19
  • #4
If you can't afford the loan because of the cars, it is a lot.
If you have 10k€ net, it is not much.
That's how I see it.
Even if it's only 1100€. If I spent that much on cars, we wouldn't have been able to afford a house either. That is, in addition to what we pay, about 200k€ over 20 years. So half a house.
 

Peanuts74

2017-07-10 11:31:40
  • #5
It depends on the commute, for example when it comes to gasoline costs. If the two drive almost 100 km to work every day, that is about 10.- in gasoline per day alone. Insurance and taxes another 100.- per month, depreciation, reserves, saving for a new car... With 500.- per month, not only are the costs included that one regularly spends every month, but also "hidden" costs. And if someone says their car only costs them 100 - 150 € per month, I find that hard to believe.
 

Lumpi_LE

2017-07-10 11:41:32
  • #6
100 or 150€ per month is also very unrealistic, no one is saying that.

What you write is all correct. My first post that you commented on only says that the cars are the reason why it won’t work out with the house. The cars are also the only leeway in the OP's calculation. Therefore, just my answer: either something can be changed about it or there simply won’t be a house.
 

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