Construction of a single-family house

Hello! I can't say anything about the house price, there are different species for that. I don't know if you can afford a loan installment of 1200 € for 300k. Basically, there are also additional costs such as insurance, electricity, gas, etc.

How is the saving going so far? Equity available with 4,200 € net per month, which is very good in rural Saxony.

We live in the deepest Saxony and the company has an insanely good reputation, both in terms of execution and performance. However, initially only the standard for plumbing was taken into account.

The quoted price with a usable basement will (still) be feasible in your region ;) Rhenish greetings

Hi,

why do you doubt the price?

The OP has an _offer available_ for the price. Also, that is €1735 per sqm. With a simple standard (I assume the ventilation is not included yet) and a simple basement, I consider this a completely normal price, cheap yes, but not even sensationally cheap. I also get offers for that price here in Bavaria!

But certainly an expert should carefully check the construction service description.

Hello,
we intend to build a single-family house. Ground area about 136 sqm + basement. We have an offer of €236,000 for the house.
My partner earns €2400, I currently earn €1300 (parental leave), afterwards about €1800. Would a monthly burden of €1200 be realistic? Additional costs also apply (gas heating with ventilation and heat recovery), electricity, etc. We estimated around €400... We would also like to lock in an interest rate for the entire term... Of course, that does not make the rate cheaper... What is your assessment?

Best regards

€1200 is certainly doable but you won’t be able to take big vacations anymore. How much money you need per month can only be judged by yourselves. Have you ever kept a household budget?

I consider an interest rate for the entire term to be unwise. Yours will be something like 25-35 years. The interest rate will rise significantly. I would rather take a 10-year fixed term and get a better rate that way. After 10 years, with the same burden, you will have paid off significantly more, and with a lower residual debt, increased interest rates hurt less.

At the beginning, the interest portion in the monthly burden is the highest and every tenth of a percent counts. Later on, it becomes smaller and has less influence.

Best regards,

Andreas

We have kept a household budget. Everyone has at least €1000 left over per month. We have also factored in a buffer. In addition, at least my partner's salary is steadily increasing (civil servant). The interest rate can easily be 8% or higher in 10 or 15 years. It can hardly go any lower. ...We are somehow a bit anxious about that :-/

If I may give you some advice, go to consumer protection and get advice there regarding construction financing. We discussed our budget breakdown calmly during our appointment and discussed the possible recommendations of the advisor.

At the end of the day, you will have to ask yourselves whether you want to take the risk or not. We always assumed as a basis that a salary could completely disappear and we could still continue financing. On this basis (with roughly equal salaries) we plan a rate of about 20% of our net income. You would be at just under 30% after your parental leave. ;)

We kept a household budget. Everyone has at least €1000 left over per month. We also factored in a buffer. In addition, at least my partner's salary is steadily increasing (civil servant). The interest rate could easily be 8% or higher in 10 or 15 years. It can hardly be any lower. ... We are somehow a bit anxious :-/

Unlikely. Have a look at how often there were 8% construction loan interest rates ;)