Building financing first offer

It can be stated, based on the discussion here, that just over 11% of all owners have an income above 4500 euros.

I just realized that this is of course nonsense here. In total, 21.7% of all owners have a net household income of more than 4500 euros. It is families (i.e. households with more than 3 people) of whom 11% have a net income of over 4500 euros!

So we agree that the typical homebuilder probably tends to earn less than 4,000 euros.

Yes and no...unfortunately, the data does not reveal where the property comes from or what type it is. It could be inherited, it could be a used property in poor condition, but it could also be a newly built house with all the trimmings. Furthermore, based on income alone, no statement can be made about any existing assets. Someone with "only" 2000,- net may have saved for 20 years before acquiring property, and someone with less than 1000,- net/month could easily win the lottery/inherit and buy a property that their salary would never have been enough for.

Based on the data, I would suspect that it is usually incomes above 3200,- net that have the money for a single-family house (38% of owners have 3200,- and more, and 35% of owners own a single-family house, which fits well together). If you now subtract those who buy used properties (we do not have the exact number for this, of course!), it is already likely that builders these days actually have a net income of 4000,- euros and more. This is not least likely because with comparable expenses (living costs) and known loan conditions, a statement about the necessary income for a new construction project can certainly be made. In other words: a payment of 1000,- euros and more usually requires an income well above 3000,- euros.

And now we have to take into account that the typical home builder is young and has by no means yet reached his average net lifetime income. Because the 38% also include those who have owned the house for a longer time.

And now comes the killer argument par excellence: Although I was only an administrator for construction financing at a traditional branch bank for 18 months, in very few cases was the income > 4,000 euros for new financing.

And the statistics speak for me.

By the way, the rate should not exceed 40% of the net income (without equity). Therefore, with 4,000 euros, 1,600 euros annuity should also be possible, if desired.

With new construction, various incidental costs arise afterward that I do not see covered by [Eigenkapital] here... sorry, despite 4k net income, no [Eigenkapital] has been saved up at all

why?

when it comes to new building costs, one should not make the mistake of comparing BW with MV
we built for ~1400 euros/sqm (usable living space). including upgrades ~30,000 euros.

(solid house 1.5 stories, footprint 10.40 x 8.60) no, no Poles and unskilled workers

our incidental construction costs are about 45,000 euros, I must admit the amount did surprise me.
whereas here 80 sqm of paving, painting and carport are included.

below is the current statistic on household net income