Evaluation of Construction Project / Credit Offer

  • Erstellt am 2020-01-10 18:15:42

HilfeHilfe

2020-01-13 06:57:57
  • #1
that is a hobby and not value-increasing for the bank.
 

apokolok

2020-01-13 14:02:38
  • #2
What speaks against baking slightly smaller rolls?
Wouldn't 160m² also do?
The personal contribution is definitely overestimated. I don't mean whether the bank will accept it or not. But saving 20k € just on flooring is absolutely unrealistic. Apart from the fact that I find it catastrophic to tile living spaces, but of course that is purely a matter of taste.
With a bit less living space, it will be financially more relaxed.
Overall, your situation is really very good, nice incomes and good prospects. But why make it harder than necessary?

Another in my humble opinion important topic: children only after the house is finished.
By then you might already be 35, and it could still take some time (years) until it really works out. It is also not uncommon that it simply doesn't work out. So if you really have a serious desire to have children, I in your position would not wait any longer for some perfect timing, I would go for it today.
In my humble opinion, this kind of family planning (first build the house / don’t want to get pregnant or get married first / oh let’s first get the promotion and doctorate done) ranges somewhere between grossly unrealistic and arrogance.

P.S. The planned garden vacation in the next few years does not quite fit with the timeline for the outdoor area. Relaxation probably won’t be very deep in the building desert.
 

Matthew03

2020-01-13 14:26:52
  • #3
If a topic in this subforum has so many pages after a short time, you know immediately without reading that there is whining, primarily from Mr. Help, whose name is rendered absurd by his posts.

Yes, the personal contribution must be critically questioned. And yes, the restrictions become a duty instead of an option and are painful. But the OP has addressed both (!) multiple times in detail. Multiple times. Either he implements it or he has a problem, he knows that now. So why can’t you just leave it at that or accept it?! Why do some people not even properly read the answers? He had to repeat three times (!!) that he understands that the barbecue hut is not equity, he only answered the question of what outdoor facilities he brings along...
Here there is always plenty of weighing whether financing fits, is tight, is not possible at all, etc., but the tone here is annoyingly irritating over and over.
First ask questions specifically, read the answer calmly, and then give opinions and recommendations garnished with arguments. Over the course of the thread, some things have rightly been relativized, but it takes 10 pages and an OP who must be thanked for not having disappeared again.

My opinion on your question , I find it quite doable if you adjust the personal contribution and really manage to massively restrict vacations. Then do it when you feel comfortable with it, not just when the banker does. You have a good income, the interest rate is good, waiting and saving is rather not an option due to the price increase on the market.

1900,- / sqm is, by the way, still possible in rural Saarland, that’s where the OP comes from, so it’s not completely unrealistic. Also, some points have really been calculated generously, for earthworks (caution, it can also go the other way) and kitchen, for example, we were about 20k cheaper in total.
 

BauherrSaarlan

2020-01-13 15:24:38
  • #4


Thank you very much for this contribution! I have indeed already considered logging off...
 

Maschi33

2020-01-13 16:42:34
  • #5
I can imagine that. Surely you expected/hoped for very different feedback, but life is not a wish concert. You just somehow hope that the criticism (at least the message behind it) gets through, makes the user think, and ultimately even protects them from too great a risk. Your „plan“ so far is based almost exclusively on eventualities and not on facts (will earn xxxx, will reduce consumption, will spend vacation in the garden, will provide such and such EL, etc.). The fact as of now is only that due to consumption you have neither saved any notable equity nor have a disposable net income that would make this project sum reasonably feasible without significant equity.
 

BauherrSaarlan

2020-01-13 16:58:04
  • #6


It’s not about the feedback itself for me here, it should be as honest and precise as possible...

It’s about the manner and above all that here it feels like 80% apparently are not able to read posts (but then want to give others tips regarding possible financing – how is that supposed to work if simply reading posts obviously already represents a problem?)

Of course, our plan relies exclusively on eventualities, that’s just what a plan and a future outlook are like, that will be the same for anyone else. Every plan is ultimately only as good as it is implemented.

We are also clear that if we do not stop our consumption, the project is doomed to fail; however, I fundamentally do not need feedback here for this, it’s about food for thought and possibly people who were in a comparable situation and how things went for them.

I also always find it nice that various points are mentioned here repeatedly without really backing everything up with facts.

Counter question to those who say our net income would not be sufficient for a project of this scale: What do you consider to be sufficient net income for this?

I want to make a nice comparison regarding net income:
Currently, I have 15 km (one way) to work, but as of today, I have an offer of 3,900 € net per month, which is 95 km (one way) away.
If I were to accept this offer now, the unanimous opinion here would probably be that we can now manage the project without problems, but that this higher income was bought through significantly greater effort that would only partly be reflected in usual expenses would be ignored.

Therefore, in detail, hand on heart:
What monthly surplus would you consider appropriate to be able to manage the project?
 

Similar topics
23.03.2009Does the capital provide financing10
07.07.2011Financing land now, house in 6 months?17
03.04.2012Buying a house without equity?29
01.05.2013No equity / existing consumer loans / financing possible?11
30.06.2014Is financing a second property possible?14
22.10.2014When to finalize the financing??15
26.12.2014No disbursement of funding - Tax office is slow44
18.12.2015Financing unequal equity ratios of unmarried partners24
17.06.2015Building a house without equity or how does one proceed?14
16.06.2015Is financing sensible/feasible?10
10.08.2015House Purchase - Financing (Experience Report + Opinion)10
12.10.2015Youth financing feasible or too early?12
03.12.2015Own effort - What can be sold well at the bank?64
18.01.2016Financing - where is the mistake?33
14.05.2016House purchase: Financing (with/without equity)24
25.05.2016Financing without equity - Repayment / Interest63
30.08.2016Construction financing 40,000€ equity, tied to a condominium29
29.08.2016Build now or wait until more equity is available?30
06.04.2018Your assessment of our financing13

Oben