Error in financing?

On the topic of loans from 10 years ago..

I am absolutely the opposite of the people who say that 0% financing is something bad - 5% consumer loans are bad, 0% not, if you know how to handle it. Quite simple.

Even if a loan starts in parallel now, that is no problem, there is currently enough buffer to make special repayments, which is why existing liabilities are gone in the short term or to cover ancillary costs in advance -> In addition, it can also take, for example, 6 or 12 months until we find a plot of land, until then everything stays as before, it just annoys me now already when I see the cost comparison between rent and house, because I thought you had to pay significantly more. Above all, I compare a 90sqm apartment with a 160sqm detached house with 600-800sqm plot. If I compared it to what we have now, the calculation would be even clearer by 100 times.

As soon as I thanked someone here, I was criticized even more than before... I won’t do that anymore. The thread was for the initial rough calculation and I learned that there were building savings contracts and where pitfalls could be, etc..... so far so good - but the discussion about the reasonableness of the house itself I simply do not accept, that is just totally stupid.

6 or 12 months until we get a plot

Oh, then better secure the price quickly. In Wuppertal, they turn the price screw every year. But your saleswoman has probably already suggested that to you.

What does the rough estimate for building the house look like? Costs for the plot, house, incidental construction costs, incidental purchase costs, paving, risk insurance, special equipment as well as painting and flooring? Double burden for loan and rent?

No creditworthiness? I have now spoken with several bank advisors who know not only our income but also our liabilities including Schufa, and all immediately dismissed it when I expressed potential concerns. There is absolutely nothing to worry about compared to the others who are all still being financed.

Then you would have a serious financing now if everything is so good. Good creditworthiness does not mean having a relatively high income. It also takes into account the expenditure side and, of course, the asset/debt situation.
Taken together, you do not have good creditworthiness – with our bank, your situation wouldn’t even get you past a job interview for your project. Sorry.

3) I always assume this, and that’s why the part is more interesting where a large sum is a private loan with a high interest rate as part of the components – the rest with better conditions – that I will still make a lot of proportional special repayments in the first 10 years. Thus, a longer payment would be cancelled afterwards anyway.

??? Special repayments, when you haven’t even been able to save so far?

I just cannot understand how people can react here as if you just add new debts to existing ones as if I would buy a third and fourth car. Why is it overlooked that there will be no other debts anymore and why is it overlooked that I am buying a house, so no more rent payments? That is something completely different from simply financing additional consumption?

How do you want to get your life in order if you have already had debts in the past

but I simply will not accept the discussion about the reasonableness of the house itself, that is just totally stupid.

... others have already said that who now live in personal bankruptcy because the private loans and 0% financings didn’t hurt at all and they did not want to restrict their lifestyle.

Furthermore, it can also take 6 or 12 months, for example, until we find a plot

Then the house will become more expensive by then and the financing will be just as difficult.

If you have lived so well so far, there will still be many things with which you will want and will upgrade the house. That also has to be paid for – by the way, a bank will not do that.

I wish you much success.

Can the esteemed reader take this seriously?

I keep repeating over and over again that with the current costs we have about 1,000 to 1,500 euros left over so far if we really save in a month, possibly even 2,000.

So far we have just spent the money additionally, primarily on travel - of course we would now postpone that because the house topic is then naturally the number 1 priority.

I really find it shocking how EVERYONE here advises against building a house, that is really extreme and very contrary to the "general" opinion. Presumably, then I must really be the fool. So here's the serious question, what is being advised here? Buying a house per se is simply nonsense and should only be done if you have 50% or more equity? It can't really be about the 10, 20% given the total sum over such a long period.

Renting is better than owning? That means all buyers and especially those with little or no equity are totally crazy and almost certainly headed for insolvency?

I am slowly starting to believe that many here enjoy advising me against buying a house. I’ll say it again: It makes no difference if I save, for example, 50k over a few years – financially it certainly won’t get better, the only risk is that interest rates develop in such a way that I end up paying more for those 50k elsewhere.

Even if that is not the case, I still only have ownership years later, meaning that ultimately later the thing is paid off or earlier the rental costs where nothing goes into my own provision – therefore I can really understand the opinions here very little...