Cost estimate EHF, 1.5-storey, brick-faced in Hamburg

Yes, that is also our dilemma. Getting a cheaper plot of land in Hamburg will be difficult unless you move significantly further away. And that comes with noticeable disadvantages for children, a lot of driving, and consequently additional costs and more time expenditure. Here we would have everything practically right on the doorstep.

We will manage, at least that is the plan, probably to earn more in the foreseeable future. We are both academics, my wife can establish her own practice as a dentist in 2-3 years when the children are a bit older. I am willing and hopefully will not be promoted to househusband when the practice is ready.

That means we can either secure the funding now, or, as you rightly write, no longer claim it later. The interest rates are also an argument for building now. Additionally, it is the first time that my wife is enthusiastic about the location, and we have already looked at quite a few used houses here in the area. Hence the consideration to at least secure the plot of land.

Well, that sounds good! The price sounds great and if you like the location that much, then go for it!

As far as I know, Zä just don't earn enough... at least they are always the loudest to complain

If I were you, I wouldn't rush anything. Even if the interest rates rise a bit, you will have more equity later and that lowers the interest rate again.. besides, the craftsmen will become cheaper again. At the moment, they can ask for whatever they want. You have to be glad to get one at all....

If you are very lucky, by then the real estate bubble will have burst, and there will be houses at bargain prices in forced auctions.... apparently every idiot is building today... even without equity.
I heard that way In America this nonsense only went well for a few years... although they are doing it again right now

Well, it is actually true that the ZÄ can no longer afford a new Porsche every year, but a house at a reasonable price should still be possible.

Although we were so enthusiastic at first, I am now having more and more doubts. Since it is a Pfeifengrundstück, the development costs are simply too high. And I don't know if there will be any additional costs on top of that. Here is a copy of an offer that the seller provided me:

The idea of buying the land first and then building later is also not so good. Since the loan for the land is in first priority, no bank will finance the house except the one that is already registered with the land in the first priority. And that one practically has a monopoly and will certainly not base the interest rates on the market rates. (At least that’s what a forum member explained to me in a private message and it seems plausible to me).

So 40,000 plus paving work... was there also water connection and Telekom included? Which district of Hamburg are we even talking about?

Yes, that's right, with water, wastewater, telecommunications, and cable, another 10,000 EUR would probably be added. Man, I never would have thought that these "additional costs" could be so incredibly high. For that, you could get a complete property elsewhere that is already "connected." Just not in Hamburg.

The plot is in Bergedorf, but relatively central, only two bus stops to Bergedorf station. I can even walk to my work in 10 minutes, and since my wife would also like to open her practice in Bergedorf, it's very optimal. Over the weekend, we will ask our parents again what they think about it. You can't get a cheaper and somewhat attractive plot in this area. So it is a fundamental decision – to build or not to build (almost like Shakespeare).