Finally a plot - Can we finance everything with EFH?

In principle, everything regarding the income situation as well as the construction costs has already been written.

Nevertheless, I would also like to make you aware that even after signing the general contractor contract or the prefabricated house contract, as well as with trades awarded individually, a price increase can occur after the contract is signed, which necessarily requires a buffer so as not to be backed into a corner.

Current example:
In February, we received an offer from the gas-water-heating installer. When I gave him the confirmation, he pointed out that Viessmann is increasing the prices for gas burners + solar system from April 1st. Ok, that might not make much of a difference in individual cases because it would have been about €1,500, but across all trades, that can again add up to a substantial amount.

Another example:
An acquaintance is building with a prefabricated house company, the contract was signed last spring. The building permit was significantly delayed by the building authority, so the prefabricated house company added another €5,000 before actual construction began because the wood had become more expensive.

My recommendation would be to speak with a bank about the financing framework as soon as possible. Based on this, set the budget with a buffer and then see what you can get for it.

Hello Tobi 3310,

how are things currently looking with you?

Does not fly. Income far too low for such a project.

Hi Tobi,
remember: Where there’s a will, there’s a way! Your equity is very good, it speaks for you – you still need to work on the salary, but you know that yourself. From my point of view, you should contribute relatively little of your equity and then critically review every expense – then it will work out!
It is important that you set a real limit and then stick to it strictly.

Good luck!

400€ groceries - 50€ hygiene - car gasoline + insurance (2x 100€ + 2x 40€) = 280€ - lease payment 300€ (36 months left) - 2x 100€ pocket money (cafeteria, cafe, etc.) - 2x 100€ clothing - 200€ reserves - 200€ savings rate - 300€ vacation - 17€ GEZ - 100€ Netflix, mobile phone and others - x€ other insurances - x€ consumption - x€ eating out - x€ children - x€ special repayment What I wrote above is the bare minimum to get by at all.

Don’t exaggerate please

Good evening, best regards and many thanks for all your support.

New construction and land were successfully financed last month... without any problems, the financing even increased a bit to around 400k.

30 years full repayment with an additional KFW 153 loan.

The starting signal will be August 2020... as a full connection and construction road still need to be created.

A complete success, living expenses, incidental costs and reserve buffers etc. were also positively budgeted so that one can start the project first... without immediately freaking out.