Feasibility financing new construction (land + semi-detached house or semi-detached half)

so roughly speaking: for a house like that, you have to plan for 2,000€ or more as "cold rent."

with current income/expenses, you save 20,000€ per year. That is per month: 1,666€ warm rent: 768€ total therefore: 2,434€

the house would probably have higher costs, i.e. you probably have to expect 200-300€ more costs, depending on heating costs etc. (Telekom, mobile, GEZ remain the same)

that means with a monthly burden of 2,000€, there would hardly be any saving potential,

as I said, if you don't want to miss the opportunity, it would probably only be possible if you could manage it for 1,600/1,800€ in the first phase. because I also see it as a chance to build some assets + security.

the other side would be: if something happens and the job is lost, then you face: - higher rent costs (same apartment then almost 1,000€ more costs per month) - daycare fees (ok, these would fall away if you change employer, so independent of the house)

in recent years, those who have taken risks have always benefited well. (and have bought endless properties as investments, then partly sold them again).

how will rents develop for you in the coming years? considering: - due to increased construction costs, less is being built than planned? - the interest rates cause 1) owner-occupiers to build less and 2) investors to also build less if it pays off less?

it shouldn’t be that you have to do this, I think that is clear for you now.

but a suggestion, also for other readers.

because I think housing is scarce (there is no need to discuss that), and construction costs + interest rates will tighten it even more! property prices have doubled in recent years compared to rents, so could property prices fall now? (housing is still scarce, large inheritances flow (inheritance generation; and there are no interest rates on investing money!), therefore there is enough capital on the market) or will rents rise now?

additionally, inflation, currently at 6%, will it fall again next year? (2021: 3.1%, the years before averaged about 1.5%) this further strengthens the flight of money into real assets, another reason why property prices won’t fall...

so, enough annoyed ;)

Phew, 75m2 for 5 is quite a challenge. I understand the situation. Are there also smaller plots? 150-200m2?

Phew, 75m2 for 5 people is quite a challenge I understand the situation. Are there also smaller plots? 150-200m2?

I agree with that....

and one should look at the market problem... it will probably stay like this for the next 15-20 years, until the children move out.

2 possibilities that might exist: - the employer finds a larger, discounted apartment for you? - or build???

what happens if the job disappears, and thus the discounted 75sqm apartment? if you have to pay almost €1,000 more per month for something comparable (AS OF TODAY, what will it be in 1-2-3 years?)

if you were to change employers, you have a huge problem if you then want to find a 100sqm apartment for 5 people? first of all, try to find one like that? and secondly, it would probably already cost €1,600 cold rent now.

the children still get by with less space (1-6 years old) but what about in 5 years? when they are all schoolchildren?

so no end terrace house, or semi-detached house, rather a mid-terrace house with a 200sqm plot (would probably ease the situation by around €100,000)

but there is hardly any of those, that’s the problem.... or if there are, then they only cost €50,000 less, (although the smaller carpet = plot) is then worth half of the 377sqm mentioned here

Here would really be all other services like sanitary, kitchens, tiles, flooring, walls,... included.

No. That is not correct. Please read the FreeTime package properly: tiles are not included. It only states that there is fiber reinforcement where tiled floors are planned.
Furthermore, the whole chunk of painter services is not included, that involves all floor coverings, all wall coverings, filling of walls and ceilings, and painting of exterior wood. Doors, not to forget either...

As EL, garden and carport, or parking spaces would be possible

Additionally, you of course have to organize paving, splash protection, and entrance platform yourself. Of course, there are also other items mentioned in some construction cost threads.

Therefore the price range between BP and basement would not be quite so extreme.

Any higher cost effort is too much. And even if it’s only €20,000... then I read about higher windows :eek: ... those who have a big budget can afford to order extravagant things. And those who dream of higher windows also dream of other things. And just like that, €20,000 is gone for the I-want-this and I-want-that. Including basement, it’s then €40,000... without knowing that the mentioned on-site interior construction also swallows €30,000. The required additional financing will break your neck.

About the house: 127 m² on 2 floors. But you only have a small, insignificant attic left,

I’ll say generally: wrong house! With 3 children and little budget, you should not underestimate the attic and the ground floor area in a gable roof house,

Never. €2,000 for 5(!!!!) for all other costs...

Yes...

We have about €4k left after the installment for three people and I’m wondering if we have to severely restrict ourselves in the future

.. but here it’s a bit exaggerated..

Hi everyone,

I had to go over everything again in my head yesterday and sleep on it, which did me good.

So our conversation with Allkauf Haus went very well. We went there with building plans and a soil survey.
Unfortunately, I have to keep it short because I have to leave soon:

In advance, we will withdraw from here.

I think that’s good, then we won’t hear the whining at the first, second, and further refinancing :D

Sorry, but that is financial suicide for you, even though I understand it seems tempting.
I wish you that you manage the whole thing without personal bankruptcy...

P.S.: Think about why you don’t want to read on here anymore. Topic: "Uncomfortable truths"...

A short note about the awarding procedure:
- Construction must begin within 5 years after development, so by mid-2027 at the latest

Then maybe one could dare it after all. As I said, you live incredibly cheaply, that helps.

It would just be a question of how much money the woman can realistically earn on the side and how your salary develops. I think construction prices and interest rates will settle down a bit again, so that at least everything becomes more predictable and these exorbitant risk premiums disappear.