Dream of having your own four walls realistic?

Hello,

you are both still very young and that is a big advantage for you because you have a lot of time to repay the loan. That means your installments will be small.
Check if [Sondertilgungen] are possible as that can be an advantage.

Best regards, Gerd

Hello, thanks for the answers, yes that is net salary, I’m not very familiar with the home savings contracts, I believe they are all not yet due for repayment by then... What is the interest rate currently? We actually didn’t want to build a prefabricated house, because it is always said that they are very noisy. With "Muskelhypothek" I could still do quite a bit, since I’m good with manual work. But I’m not a bricklayer... Is it perhaps advisable to pay for the land first, and then only start building the house? Or to finance everything together? Best regards Chris

Hello, my girlfriend (22) and I (23) want to build (have built) a house in 2 years. We currently have equity of 20,000 euros and want to increase it to 35,000 euros in 2 years, each of us has 2 building savings contracts running. The plot would cost 50,000 euros. We want to build a "normal" single-family house without much frills for 180,000 euros, is that realistic or will it be more expensive? My salary is 1,450 euros and my girlfriend's is 1,150 euros. Since we both still live at home, we don't have to pay rent. We are not planning to have children yet :) . I am not very familiar with the subject, but I would be happy to get some good advice from you. Thanks in advance. Best regards, Chris

Hello you two,

What kind of building savings contracts do you have running and how long have they been running, and what amount are they for?

Have you already calculated the total costs for your project, i.e. house, plot with ancillary costs (notary and court costs 5%), possibly real estate agent, additional building costs (surveying etc., earthquake and snow load zone, landfill fees, etc.)? I would be happy to prepare a reasonable total cost breakdown for you.

Best regards, gru

Hello gru,
One of my home savings contracts (50000) has been running since 9.3.07, with which I pay 200 euros monthly, my other home savings contract (20000) has been running since 23.8.01, with which I pay 50 euros monthly. My girlfriend has one with 15000 (running since 2004) and one with 25000 (running since mid 2008). We haven't calculated anything ourselves yet, as we are not well versed in this field and it would probably only result in rubbish anyway :). That's why I wrote to a forum like this one. I also haven’t contacted an expert yet, because there are still 2-3 years until we want to start. We would be very happy if you could make us a total cost statement, it would certainly help us a lot. Thanks in advance. Best regards Chris

Hello,

it works with banks in such a way that you get lower interest rates if you have more equity. Of course, it is always said that it is enough if you have 20% yourself, but then you pay more right away. Most advisors don't even mention that! :(

Regards Simon47

Hello gru,
Will you still make us a total cost statement or are my information not enough for you? :)
Best regards, Chris