Error in financing?

Steffen: Your argument is, because you had equity I need it too? Or what speaks against buying a house for us? There is no argument in that. 2 secure jobs, doctor and IT sector. The starting position could be worse I think.

No, because equity belongs to house construction! Additional costs, kitchen, moving, and 1000 other things need to be paid. For me, building a house without equity is unacceptable and I would advise everyone against it. I have experienced two house construction insolvencies in the family. Also with secure jobs and good incomes. There are only very very few exceptions where I would agree to 100% financing. For example, with really high incomes (you do not belong to that!) and/or high assets (paid-off, rented properties, investments, etc.).

Regards, Steffen

Addendum: I go even further. A security-conscious builder has not only equity but also a five-figure reserve. For unforeseen events during construction and afterwards. Most builders in my circle (and these are average earners) act this way.

No, because equity is part of building a house! Additional costs, kitchen, moving, and 1000 other things need to be paid.

: Was the 425k€ ready to move in? Like, all floors, walls painted, etc...? Or possibly only turnkey?

A kitchen is usually not included in the house financing or accepted by the banks. For a nice kitchen in a 160sqm house, you should expect around 15,000.

Moving. Do it yourself? Possible. But that also costs money. Having it done; 6000-10,000€

Lamps? If the wife shops, it gets expensive. Especially if it’s supposed to be fancy. We alone budget 5000 for lighting inside and outside the house.

Addendum: I go even further. A security-conscious builder has, in addition to equity, a five-figure reserve. For unforeseen events during and after construction. Most builders in my circle (and these are average earners) act this way.

This will only become clear when we see the detailed calculation. At the moment, I assume that this is not taken into account in the sum. But otherwise, I can only agree: Our construction will be about €30,000 more expensive than originally planned. On the one hand due to unforeseeable events, but on the other hand also due to additional wishes that we wanted to realize (and also could, since additional equity was simultaneously accumulated).

once again: it is included in the total financing and then you know all the costs? Whether it is a house for 450k with 25k equity or for 425k without equity - if you can manage the amount anyway?

I don't understand it?

once again: it is included in the total financing and then you know all the costs? Whether it is a house for 450k with 25k equity or for 425k without equity – if you can manage the sum anyway?

I don't understand?

By now, you don't even know whether you are asking something or making a statement.
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