Construction costs are currently skyrocketing

Some people also gambled independently of the financing. In our circle of acquaintances, several families bought existing houses from the 70s and 80s. The money from the financing was just enough for the house, renovation was planned to come from ongoing funds.

As someone who originally wanted to buy an existing property, my sympathy is limited. As a prospective buyer with a reasonably sensible calculation and partial renovation factored in, one was outbid by exactly these people. It has been completely foreseeable in recent years that the renovation would come and that energy prices would rise. Anyone who believed they could finance a reasonably serious renovation from their current salary deceived themselves.

As I said, these are isolated cases. If you have numbers that prove otherwise, bring them on.

And whoever funded in 2021 will be up again at the earliest in 2031... a lot can happen until then