Error in financing?

What does the rough calculation for the house construction look like? Costs for the plot, house, incidental construction costs, additional purchase costs, paving, risk insurance, special equipment as well as painting work and floor coverings? Double burden for loan and rent?

All of this is already included in the first calculation, in the 425k.

All of this is already included in the initial calculation, in the 425k.

I think a precise breakdown of these costs in a separate topic and a reality check of them would do you good. I don’t believe that amount is sufficient.

I have followed your initial thread and this one and have gathered that you seem to approach the matter somewhat naively. You respond with lump sums and large amounts instead of really breaking down the calculations in detail and performing a reality check. It may be that with your income you could manage this financing, but you at least need to stay on the safe side in terms of costs.

Because if you miscalculate by just 20 or 30 thousand euros, things look quite bleak for such financing. And that’s exactly what everyone here wants to point out to you, but you seem to consistently ignore it just like, for example, the constant question from about the exact cost calculation.

As a comparison: I now have an Excel file with 20 worksheets just for cost calculation and monitoring, three Leitz binders full of documents, and numerous digital folders of this and that. This is serious work that goes into building a house, and this meticulousness is exactly what you are currently missing.

I believe the negative mood here has several reasons. A tricky situation, many see (big) problems with your project here and you see it differently. This leads to an exchange of arguments, which then turns into an exchange of 'niceties'.

You have described your past here. This is taken here as a starting point and projected into the future. Your argument is that you will do everything differently from now on.

You describe the present, you have no equity. Sorry, even if you study for a long time and get married, you can save up equity. If necessary, you have to wait and save for 5 years. In my opinion, you should not buy a house without equity. And you even intend to take on more debt to fake equity? It doesn’t look to me like you will really do everything better in the future.

You describe the future, you will have less monthly burdens than today. Sorry, I find that hard to believe, somewhere you miscalculated or didn’t think of costs. Besides the fact that you should form reserves for future costs, I estimate that a house awakens additional desires in you. What do you think, how much can be spent on all the great expensive playthings for a house and around it?

So the sum of concerns about the past, today and the future also makes me doubt whether you can manage it, or you will be happy.

Good luck!

I find it really shocking how EVERYONE here advises against building a house, that’s already crazy and very contrary to the "general" opinion.

Sorry, but this is a general opinion from all over Germany. Which general opinion do you mean?

Renting is better than owning?

For many people, that is indeed the case. There are many advantages to rental properties (flexibility, costs for renovations, etc.).

So all buyers, especially those with little or no equity, are totally crazy and almost certainly insolvent?

No, some people without equity can afford a house and do not live purely on credit. However, many overextend themselves – I myself have bought such a house through a foreclosure sale. It worked for the previous owners for just two years, then it was all over.

...

I'm out!

Actually, I intended to do this in a separate thread, as some costs seem a bit risky to me in certain areas and I also still have change requests anyway, and the total sum will probably increase if the land buffer is fully utilized.

In the end, I will need 2 alternatives anyway, depending on the land price, and then eventually feedback from a bank regarding implementation.

If most people here are right, we won’t get financing or at least not without tricks, traps, and absurd interest rates. Since I also wouldn’t make a compromise with a significantly downsized house or land, we would have to wait either way.

Since I would then not make any compromise with a significantly slimmed-down house or plot

Uh-oh, beware: building a house is a compromise in 80% of cases! You can’t realize everything, either for financial reasons or simply due to regulations and zoning plans. We would have liked to do some things differently as well, but it wasn’t possible for one of those two reasons. You learn to give up quite quickly if you didn’t know it before, or you go down with drums and trumpets (strong expression, but that’s how it is).