Construction financing without equity as an option?

In my circles that means pride. I would never ask my parents for something like that. Even when I was studying and had to live off instant spaghetti from Maestro Miracoli for several months, I never asked my parents for money.

I top Maestro Miracoli: For my wife and me, there was frozen pizza from the pan (because no oven) and to heat up you had to open a cupboard through which the landlord's uninsulated heating pipes from above ran... :D

I top Maestro Miracoli: My wife and I had frozen pizza from the pan (because no oven) and to heat up you had to open a closet through which the landlord’s uninsulated heating pipes ran above us... :D

Warm food? How luxurious. After a somewhat higher phone bill in the early days of the internet, I ate rye mixed bread with ketchup or mustard for weeks. I didn’t heat at all, it was warm at university.

Warm food? How luxurious. After a slightly higher phone bill in the early days of the internet, I ate rye mixed bread with ketchup or mustard for weeks. I didn't heat at all; it was warm at the university.

My bed, which was totally broken, was held together by two empty beer crates so that the slats wouldn’t break completely :-) Those were the good old days :cool: I never had as much time as during my studies. All the faculty parties, trips (we had free train travel within Lower Saxony, Bremen, and Hamburg). It was still a cool time despite everything :-)

In my circles, that means pride. I would never ask my parents for something like that. Even when I was studying and had to live on ready-made spaghetti from Maestro Miracoli for several months, I never asked my parents for money.

But we have already discussed this topic extensively. And in this regard, opinions, as well as customs/upbringing, differ.

Well, of course, everyone has to decide for themselves whether to borrow money from their parents or not. If the interest surcharge is extremely high, from a business perspective, it would obviously be foolish not to consider it. The question then is whether I would rather pay the bank €800 or more in interest per month than pay interest to my parents when it is only about a small loan of €50k or less. Here, it was only about the incidental purchase costs. Incidentally, the incidental purchase costs are also a big hurdle for many single-person households with average net income. If you don’t live as described here, eating noodles with ketchup for a few years and giving up almost everything, it can take quite a long time. Even if you save €10,000 per year, it still takes almost 5 years.

Of course, there are also people who would rather go down with pride later than reasonably think about alternatives...

Well, of course everyone has to decide for themselves whether to borrow money from their parents or not. If the interest surcharge is extremely high, it would obviously be sheer stupidity from a business perspective not to consider it. The question then is whether I'd rather pay the bank 800 € or more in interest per month than pay my parents interest, especially when it's only about a small loan of 50k or less. This was only about the ancillary purchase costs. Incidentally, the ancillary purchase costs are also a big hurdle for many households with an average net income. If you don’t strictly live on noodles with ketchup for a few years and give up almost everything, as described here, it can take quite a while. Even if you save 10,000 € per year, it still takes almost 5 years.

Of course, there are also people who would rather go down with pride later than reasonably consider alternatives...

One can always paint both sides in a good or bad light. If we only look at business economics now, it wouldn't be a problem to borrow money from, for example, Putin. But no one would do that at the moment, because there are reasons other than just economic ones. We don’t want to burden our parents with such things. And if you can "only" save 10,000 € annually before building a house, then you probably shouldn’t even consider building in the first place... Unless you are paying rent that would cover a healthy repayment.

So here are really only worrywarts of the Reich gathering.
After deducting loans, incidental house costs, insurances, etc., a young couple with children is left with just under 3,000 (THREE THOUSAND!!) euros EVERY month.

Yeah, sure, pure poverty.
The only thing left to do is collect bottles for deposit.
Get down from your ivory tower with your paid-off properties and incomes beyond 15k EUR/month.

This is a completely normal and comfortable income for the family.

Are there more details about the old building? That sounds great.
I would always prefer a stucco old building from the turn of the century to these misshapen new buildings, despite all the disadvantages.
After all, the houses have charm and are worth preserving.