Consumer credit as equity

We currently pay 1000€ including utilities but can still save an additional 1000€. However, even if we save until the end of the Baukindergeld period, we still won't manage to gather 100k together.

The additional costs will remain, so you can only calculate the cold rent. Let's say 800 euros. Then the total would be 1800 euros that you could afford. However, the additional costs are likely to be higher than in an apartment, so this amount will decrease somewhat again.

Whereas many banks already count these 40 thousand as equity. You just have to calculate the interest that accrues over the funding period because you don’t receive the funding all at once.

Is that so? That would be new to me. The payout only takes place 1-2 months after moving in.

We have no subsidies in the financing but a colleague (who had to calculate very precisely) said that the subsidy was counted as equity capital because it is guaranteed by the state.

The additional costs will remain, so you can only calculate the cold rent. Let's say 800 euros. Then it would be a total of 1800 euros that you could afford. However, the additional costs are likely to be higher than in an apartment, so this amount will decrease somewhat again.

That's why I asked. You also cannot fully include the 1000€ savings rate. Reserves have to/should now also be formed. Not only for the house, but also for car, vacation, etc.

Uhm, would someone here please notice that you can't get a house for 160k? Regardless of the planned financing trick (which won't work because the 3% only exists on the internet, you only get that under hypothetical ideal conditions), the construction sum NEVER adds up in real life. How big is the house supposed to be? You also have to pay for materials for EL, and you first have to somehow find the time for that.

Rough calculation: 225k plot 140m² * 1800 (it’s supposed to be simple) = 252k Materials for EL: 15k Additional costs: 40k Outdoor area, carport?: EL 10k Kitchen, furniture, lamps: EL and cheap: 10k

That’s all nicely calculated and assumes optimal building ground, a smooth process, and really no special demands.

That results in a capital requirement of ~550,000€. That’s too big a number for that income, in such a high-priced area you won’t be able to afford a new build. --> Buy an existing property and renovate it bit by bit, you obviously don’t have two left hands.

Is that so? That would be new to me. The payment is only made 1-2 months after moving in

Baukindergeld is not equity. I will also receive an additional €150k in salary increases in the years until retirement. Those are not equity either. Neither is the potential inheritance or the lottery win.
You cannot simply pre-finance the Baukindergeld – you also don’t say to the craftsman "I pay cash, I still have €40k lying around – but you’ll get it only in the next 10 years."