Building with a small budget feasible?

Old people can be funny. The previous owner of my house also said you only had to replace the front door because cold drafts were coming in there. I nodded understandingly, praised the condition of the house, and six months later started a complete renovation.

It really was as described. All relevant parts are younger than 10 years (except the roof, which is still from '77). Price was 275`. However, location-wise, in the middle of the village, built-in so to speak with a shrinkingly small garden and no terrace. The converted attic is really nice, though (currently rented out for €350)!

Hi, just that alone is already very valuable... Yes, we have it very nice here. Just for that reason alone, the urge to go on vacation almost disappears on its own when you have a nice property. 15 min to the Baltic Sea, 45 min to the North Sea, 90 min to Hamburg. If the weather is nice, then you’re really dumb if you leave :D It’s an interesting story... ...try searching for "variable loan" There were somehow exaggerated demands combined with resistance to advice. Well, if you somehow need an "all-in designer kitchen" with Miele appliances. We bought a complete Schüller kitchen including installation for about €6,500 at a small kitchen studio in Cologne 3-4 years ago. It includes all the appliances, a worktop in an L-shape about 4.5 m x 3 m, upper cabinets, etc. It’s enough for us, it was only for a rental apartment and a transition, but it will surely last at least 10 years and if the next tenant doesn’t take it, we might even take it with us to SH. Best regards, Olli

I have read through the Jana thread somewhat but see few points of comparison.

Regarding "frugality": I have read quite a bit here already and sometimes I am amazed by the sums mentioned in some areas. Those are different worlds for us. Five years ago, we still had to top up with H4 to get by well. So yes... our demands are "low". It has to be functional and pleasing. I would never spend €5,000 on lamps in my life, nor would I spend that much on outdoor facilities. Especially outdoors, I could actually do a lot myself (and I would not have a problem if I only had a carport standing in two or three years… and even if I didn’t have one… we don’t now either). What do you understand by "own work" directly? I would have thought that means our "free" labor. We know a lot of friends/acquaintances from various trades. But we would want to pay them, or two of them do finishing work professionally and charge about €40 gross/hour. That is probably still well below a company rate?

How funny. I already wrote that yesterday. After that, it was no longer your opinion ;)

So, for me, I will summarize my conclusion so far: Very, very, very narrowly possible, but not impossible. Depends on the plot price (which will definitely be under €100). Basically, it is also about whether I can/want to keep thinking about this path or just completely rule out this option for us. We don’t even know if we would get one. There are only 8 plots to be allocated.

One more question that hasn’t been addressed yet: If you keep the monthly burden very appropriate with the knowledge/option that you sell the house at retirement and downsize/or the child takes it over or so… If you specifically calculate with a residual debt at retirement start… does a bank even go along with that?

By the way, we have not €8k in equity but €18k… okay… that’s not the world either…

....sorry....I just realized that I still haven't really got the hang of quoting :D

Nice that the house is worth something. Would that be something for you, something that could make the shortlist? The nice thing about existing houses in decent condition is that you have few unexpected additional costs.

Intuitive? No. No existing garden, you would first have to create one in a small form by moving the carport. No terrace and no possibility to build one. No bathtub, no guest toilet. And the fact is that the house will be too big in at most 15 years. Unless we actually have one or two more children (I am an educator).

We just haven't seen that many houses yet, but I find that it is enriching each time.

One more question that hasn't been addressed so far. If you keep the monthly burden completely adequate with the knowledge/option that you will sell the house towards retirement and downsize again / or the child takes over or whatever.... So if you are already calculating with a remaining debt at the start of retirement... does a bank even agree to that?

No problem, if you have a reasonably decent pension (wherever it comes from).
I finalized in the summer with a calculated term of 40 years – then I will be 88.

Nevertheless, the house is insanely cheap, even if the attic or something like that is already included in the 280 sqm and possibly does not represent the correct living area.

280 sqm plus basement, no renovation backlog for 285'.

Compare that with properties on the relevant online portals. What would something comparable cost?

Until when do you have time to decide on the property? I wouldn't spontaneously dismiss it.