Bauexperte
2011-04-05 10:03:14
- #1
Hello Karla,
Your uncertainty probably stems from the fact that you/your husband only get information from the internet? As a start, that’s always good, but if you want practical experience that is actually useful for you, you have to go to the "front" ;) Here in the forum and others, you will find statements about a wide variety of providers; choose a competitor from the positive comments and arrange a consultation appointment. During the conversation, further questions will arise from the statements made, which you can ask directly – I can well imagine that afterwards you will have a perspective for your further decisions.
The top priority, however, is the question of financing; Ille 1975 has written you practical information about this. No matter what decision you make, it is always good to know what you “can” finance, because then you decide in the concrete case what you “want” to finance. This consultation with an independent financier of your choice will also advance you a good deal in terms of security. From my experience, I know that it should not be the last percentage point of financing that makes the difference, but the alignment with your personal situation, possibly tax aspects, and the amount that must be paid monthly in the end - without reaching the edge of what is feasible.
This assumption is also correct, however, a new build is not “low in ancillary costs,” although – if you compare all options to be considered – the new build clearly has the edge, not only because you can call a new house built according to current technical regulations your own after completion.
An existing property – as long as it is still relatively young – is only inexpensive if you can purchase it from an auction; there is a human fate behind it, which you can use to your advantage. The investment range you mentioned will, however, provide you with a used property in the range of 15-20 years or older, depending on location and plot size. It goes without saying that – besides the usual renovation costs – further renovation measures will be due; most homeowners have not built up reserves to tackle pending renovation measures. Even if you ostensibly have to pay fewer fees with an existing property – only real estate transfer tax, notary, and court costs – the renovation costs can far exceed the ancillary costs of a new build. In this context a tip: do not buy an existing property without an appraisal; if in doubt, have one made yourself if you have fallen in love with a house. It is money well spent!
The problem is not your income or your situation, as far as you have described it here. You are just – as many builders do at the start of their search, so normal – working from wrong parameters. Some users have already told you that you will not be able to realize a building project with the capital you want to use; unless you move with your family to the countryside where plots are traded in the range of EUR 30-40 thousand.
To stabilize your self-confidence, take the really good advice from Ille 1975 and clarify your financial possibilities. You will find that you will then look at the wide world of financing with different eyes, possibly even be willing/able to put a little more money into it without sacrificing precious quality of life.
Best regards
I am already feeling uncertain. Whether building is the right thing for us? Or should we rather look for an existing house and renovate/modernize it within our means, even if that means foregoing energy-efficient insulation, newer windows, and the desired underfloor heating.
Your uncertainty probably stems from the fact that you/your husband only get information from the internet? As a start, that’s always good, but if you want practical experience that is actually useful for you, you have to go to the "front" ;) Here in the forum and others, you will find statements about a wide variety of providers; choose a competitor from the positive comments and arrange a consultation appointment. During the conversation, further questions will arise from the statements made, which you can ask directly – I can well imagine that afterwards you will have a perspective for your further decisions.
The top priority, however, is the question of financing; Ille 1975 has written you practical information about this. No matter what decision you make, it is always good to know what you “can” finance, because then you decide in the concrete case what you “want” to finance. This consultation with an independent financier of your choice will also advance you a good deal in terms of security. From my experience, I know that it should not be the last percentage point of financing that makes the difference, but the alignment with your personal situation, possibly tax aspects, and the amount that must be paid monthly in the end - without reaching the edge of what is feasible.
I had actually assumed that it would be more economical to invest a little more money in a new build with low ancillary costs, rather than spend less on an existing building, where I have to expect higher ancillary costs.
This assumption is also correct, however, a new build is not “low in ancillary costs,” although – if you compare all options to be considered – the new build clearly has the edge, not only because you can call a new house built according to current technical regulations your own after completion.
An existing property – as long as it is still relatively young – is only inexpensive if you can purchase it from an auction; there is a human fate behind it, which you can use to your advantage. The investment range you mentioned will, however, provide you with a used property in the range of 15-20 years or older, depending on location and plot size. It goes without saying that – besides the usual renovation costs – further renovation measures will be due; most homeowners have not built up reserves to tackle pending renovation measures. Even if you ostensibly have to pay fewer fees with an existing property – only real estate transfer tax, notary, and court costs – the renovation costs can far exceed the ancillary costs of a new build. In this context a tip: do not buy an existing property without an appraisal; if in doubt, have one made yourself if you have fallen in love with a house. It is money well spent!
This probably seems very naive to the experts here, but I was basically convinced that with my income level, my secure job, and my equity, I had good chances to take on the adventure of building a new house.
The problem is not your income or your situation, as far as you have described it here. You are just – as many builders do at the start of their search, so normal – working from wrong parameters. Some users have already told you that you will not be able to realize a building project with the capital you want to use; unless you move with your family to the countryside where plots are traded in the range of EUR 30-40 thousand.
To stabilize your self-confidence, take the really good advice from Ille 1975 and clarify your financial possibilities. You will find that you will then look at the wide world of financing with different eyes, possibly even be willing/able to put a little more money into it without sacrificing precious quality of life.
Best regards