Construction costs are currently skyrocketing

I am planning an extension to an existing house - but with the current interest rates, I only see the "Turkish" method - invest in the construction when cash is available and save. Even if it takes a few years longer.

If you calculate the monthly costs for the loan at 3.5 percent with a rather modest amount of 200k, you are already at €560 interest per month :oops:, and combined with the projected €3300 per m² - this just doesn't add up, unfortunately

That means you either:
a) have the cash and don't have a job that takes at least 50 hours/week.
b) have craftsmen in your family/friends who also have time.
c) snag a plot of land that doesn't cost as much as the self-built house.
d) can afford the interest rates of 3%+ and from the 13th month onwards an additional 3% commitment interest per annum.

As you can see, many ifs. Sounds nice and good, but will rarely be feasible.

A: I have a 39-hour job in the public sector.

B: I talked about doing it myself and not contracting out.

C: I inherited the plot of land.

D: I had 150k equity. That is now spent and then in January I quickly took out financing of 100k for the rest. Full repayment loan over 15 years. 1.51 percent.

Education, education, education and no work allergy. Then it works.

Education, education, education and no work allergy. Then it works.

You are a real doer and the rest of us can learn a thing or two from you. We got it. ;)

C:The property I inherited.

Education, education, education and no work allergy. Then it works.

Yeah right...

Zeichen Zeichen

A: I have a 39-hour job in the public sector. B: I was talking about personal contribution and not about outsourcing. C: I inherited the property. D: I had 150K in equity. That is now used up and then in January I quickly arranged financing of 100k for the rest. Full repayment loan over 15 years. 1.51 percent. Education, education, education and no work allergy. Then it works.

And inherit property. Ask yourself how it would be if you had to pay 200K€ + for the property now... It is always easier said when you get a large part as a gift. But that doesn’t help those who have to pay everything themselves :p And here we come to the mentioned topic of the inheriting generation from .

...
@all, without reference to the aforementioned post: According to yesterday's MDR radio news report, the real estate transfer tax in Saxony is supposed to increase from 3.5% (we still benefited from this and even got 50 cents gifted ;-) ) to over 5%. So far, however, it is only being talked about.

As bitter as it is. I think it is fair. In most federal states, the real estate transfer tax is 5 or 6%.