Does the land value count as equity? Appointment at the main bank

2017-12-16 10:21:15

Thanks for the answer. I hadn't even thought about converting personal labor into equity. How is that calculated? Is 30,000€ realistic? I would do all the exterior work myself, and inside the house I can lay floors, paint, and do a few small things.

These are the usual personal labor tasks that many homebuilders perform. By themselves, they won't get you to 30,000. I would estimate maybe 10-15,000. You have to keep in mind that you only save on labor costs. You still have to buy the materials yourself (often at worse prices than a company would get).

2017-12-16 10:22:05

I'm the least worried about the connections. I have a very large circle of friends. I'm a trained landscape gardener, my brother-in-law is a trained bricklayer, a very good friend of ours owns a few mini excavators. A former school friend owns a crane company. I think I could cover a pretty wide network and keep costs low. At least that's the plan.

What kind of connections are you thinking of? It would be new to me that you are allowed to lay connections yourself (I'm thinking of water for example).

2017-12-16 10:42:51

Thought about the earthworks. I could do those myself.

2017-12-16 10:42:53

You are allowed to do everything yourself. Wastewater 100%, water, electricity, gas, telephone, you are allowed to dig and close trenches yourself. Drainage is allowed to be done yourself. A 15% savings is acceptable for these things. The more it is, the better. Never count yourself rich.

2017-12-16 11:00:00

The property could be conservatively valued at the current standard land value to roughly assess it.

The bank will have to do exactly that. There is nothing conservative about it; that is realism.

2017-12-16 11:25:33

The bank will have to do exactly that. There is nothing conservative about it, that is realism.

Exactly what I wanted to hear (read)

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Does the land value count as equity? Appointment at the main bank

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