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

I see the greatest need for action in the sale of the old house. You have to consider that if you need €70k (or €85k including reserves) less in credit, you will probably have to pay back €120-150k less over xx years. Now just assuming €120k over 30 years, that is €4000, so just under €350 per month. If after renovation only €300 rent can be expected, then without other possible repairs, taxes, and non-allocable ancillary costs, it is already a losing proposition. I do not want to downplay sentimentalities, but the question is whether you can afford them or if the actual dream must otherwise be buried...

Hello everyone,

even if I'm repeating myself, still a big thank you to everyone for the opinions and the time you invested just to help me. Everyone certainly has enough to do, and I think it's great that there are such helpful people here.

Regarding the car: Unfortunately, we can't save any costs here. We don't even have a bus here, which means we are completely dependent on the car. We drive to work, shopping, and on weekends to visit grandma, etc. And unfortunately, comprehensive insurance is also necessary. I also need a reliable car since I drive 70 km per day for work reasons. My partner drives in the opposite direction daily. But I have to admit that I calculated the costs consciously on the high side. I assumed the "worst case." It could very well be that fuel costs are 100 or 150 euros less per month. It depends on whether we do a lot on the weekends or not.

Regarding the old house: It seems there really isn’t anyone saying "keep it." Then there must be something to the idea that it doesn’t make sense to renovate it on the side. I have just invested 23,000 euros in the roof because I originally wanted to move in with my ex-husband. But it’s true, the money will probably never be enough for two "construction sites." But I have to admit it breaks my heart when I think about selling the old house that my great-great-grandfather built with his own hands. It’s an old villa, a gem in a dream location. It looks great from the outside; but inside it’s an absolute wreck...

We will now get some cost estimates and meet with my relatives (construction company). If it gets too expensive, we’ll probably have to stay in the attic apartment for now.

Last but not least, a (probably stupid) question, but I know ZERO about this: What could roughly be the price difference between a masonry bungalow with 150 sqm and one with 180 sqm? The larger area came about because I wanted a large dining/living area of 40 sqm.

I wish you a nice evening!

Many greetings edelweiss82

I would estimate that the additional cost is realistically around 30,000 euros. For 180sqm, a 1.5-story house might be cheaper than a bungalow. For living+dining, 40sqm is probably the minimum.

I would actually refrain from building a bungalow and instead build a one-story house with an expanded gable roof. 100 sqm downstairs, 50 sqm upstairs, relatively low roof pitch so that two children's rooms can fit upstairs. That is more compact and will be cheaper.

Yes, the sentimental topic. Many people feel that way. But I don’t believe your great-grandfather wanted you to live close together while a lot of money flows into the old house. I would have the house beautifully photographed and framed as a memory. You will enjoy that more than putting all the money you save into the house. I had no relatives who thought otherwise.