Construction financing with or without a family member

Then buy it in equal shares, possibly with the parents gifting to the children to optimize inheritance tax. In any case, I would not pay off a vacation home so that my sister can then vacation cheaply there.

It was planned to receive another property as a gift (salary) for this in the future.

Does it even make sense to finance it completely without cash then?

It was planned to receive another property as a gift (salary) for this in the future. Does it even make sense to maybe finance completely without cash then?

It depends entirely. From a tax perspective, 100% financing makes sense if you are only renting out. If you want to live there yourself, it depends on what happens with any existing equity otherwise. If you just let it sit around anyway, then a high equity ratio is probably sensible. If you plan to invest it and the return (roughly speaking) after taxes is better than the savings in property financing, then you should invest elsewhere. Personally, I would leave the whole family out and handle everything for myself. That way, the situation is clear.

For me, "second home or vacation home" doesn't quite make sense if it's meant to be the big family investment. What is then considered the investment? "Second residence" doesn't really sound like much rental to me but rather more like personal use. "Investment" in that context would mean to me rather hoping that the value increases and to benefit a bit from it as a holiday destination. Or did I simply misunderstand that?

So if it is financially feasible, I would probably do something like that as my own little project with my money and my financing. If it is supposed to be more of a family project, I would say it is quite important that everyone is on the same page about what should happen with it and how you want to use and manage it. I believe there are indeed different options for organizational forms, but that exceeds my knowledge.

I would avoid a community of property owners.