Construction financing, assessment possible with income?

Don't worry, at your age I think I had just spent all my equity on an older Opel Corsa, and that only worked because I was already working 1.5 days a week alongside my studies. In that regard, you are quite well positioned, and in a little over 2 years you will have paid off the plot of land.

As for the prices, here in the forum there is the magic formula of at least €2000/sqm, usually higher, and building is not getting any cheaper. So for 150 sqm at least €300,000 plus additional construction costs plus the land. Cost drivers here are energy standards, general standards, building technology, and the land itself, especially if it is on a slope. You can somewhat influence the first three, but only little the land. If the building area is already in planning, you can go and have a look at how it looks there.

Don't worry, at your age I think I had just spent my entire equity on an older Opel Corsa, and that only worked because I was already working 1.5 days a week alongside my studies. In that respect, you are quite well positioned and in a good 2 years you will have paid off the plot. As for prices, here in the forum there is the magic formula of at least 2000€/sqm, usually more, and building doesn't get any cheaper either. So with 150 sqm at least 300,000 plus additional building costs plus the plot. Cost drivers here are energy standards, general standards, building services engineering, and the plot itself, especially if it's on a slope. You can somewhat influence the first three, but the plot only a little. If the building area is already planned, you can go there and see what it looks like.

Thanks for the feedback, all plots are flat so no slope, all fully developed etc., and are sold by the municipality, so no realtor etc. We have thought of a heat pump with underfloor heating for the building services engineering, if that is what you meant.

Hello, at first I was surprised by the low equity with that income. But you have answered that. 125 € times 700 sqm = approx. 90k. That is almost the current equity plus 2021. Do you have the option to borrow the money from your parents? If yes, I would pay for the land in cash and then calmly approach the main financing when the time comes.

You would probably get financing despite the low equity. The question is whether you could manage the rate if you are used to not paying anything for housing so far. For every 100,000 euros you need from the bank, you can roughly calculate 400 euros monthly repayment. If, in the end, a rate results that, if necessary, one person alone can bear, then I would go for it, because prices are rising so strongly year after year that effective "saving against it" is hardly possible anymore. The one who enters early is better off. However, if in the event of separation the house cannot be maintained, then I would rather leave it. Also, please remember that then one person will want their contributed equity back from the other, and this money has to come from somewhere.

I find it nicely tight but doable. If it is to start in 2022, there is still plenty of time to build equity by then. You also have plenty of time to repay.

I see quite a bit as feasible, but especially when you consider that salaries are increasing or are already very good for the age. Nevertheless, I also see "dangers": Not only early commitments to a house, which makes you immobile and obligated, it is also nest-building, and before you know it, one stays at home because of a child. Moreover, necessary positions are missing, the list is somewhat unrealistic due to living with the parents.

[*]Current living situation with the parents free of charge. [*]Other expenses would be a leased car with 2 years remaining, 350€, the other is paid off. [*]Car insurance for the 2 cars totals 180€ per month They fuel costs currently per month 150-200€ She: 50-100€ [*]Sky, Amazon 50€ [*]Accident insurance [*]Building savings contracts 100€

Electricity, water, property tax, insurance, garbage, etc. (additional housing costs) Living expenses such as food, drinks, medication, and toiletries Clothes Further coverages such as risk insurance, etc. Buying now, building later is good, personally, I would take even more time in your position. Start with a household budget book to see where the money is going. For an architect-designed house in standard quality, I would estimate a little more than 2000€/sqm, approximately 400,000 including additional construction costs.