Financial requirements for building a prefabricated house

Exactly, and if you already know roughly what it will cost, it will help you.

Just let the sellers do the calculations.

That’s what I plan to do too - what’s interesting is that my daily thoughts fluctuate from “can’t afford it” to “yes, it should actually be possible” to “well, at least a used semi-detached house.” The fact is: I have no equity but I need some, even if banks would give me 120%. I’ve also discussed this with my girlfriend now. We will get married in August first and then save equity. At least 1 to 1.5 years. Then, if nothing comes up, I should have around 30,000 to 40,000 euros. That’s not much, but better than nothing. And then we’ll see what it’s enough for.

So we had about 20,000 EUR in equity and are currently building a solid single-family house with a 570 sqm plot. Total loan amount: 278,000 EUR. Since August, we have consistently saved the house installment of about 1,000 EUR. So we still have some money in reserve, even though the equity should already be gone.

There are also personal contributions, such as painting, occasionally swinging the shovel to work on the garden, and buying according to offers. For example, we have already bought the mailbox, house number, garden pump, and similar items to take advantage of offers and sales; this was possible from the current income and didn't hurt as much as if we had to buy everything at once. Especially since we are not shy about first buying a mailbox at Aldi instead of immediately going for the luxury model for over 100 EUR.

You just have to reconcile your desires and the budget.

"Expensive" will now be the exterior work, but we will do a lot of it ourselves so that only the material has to be purchased. Especially outdoors, you can spend a lot of money but also save.

There is also the question of how much space I really need. As a family of three, do you really need 170 sqm or maybe 120 - 140 sqm is enough and so on.

So I’m handy, even though I have an IT job, and I also have friends who can help out. 110-120 sqm across 4 rooms is completely enough for me. I don’t need 600 sqm of land (it has to be maintained and paid for) – half of that would be enough for me. Of course I like a big living room, open fireplace, etc. – but wishes always have to fit the budget. I also don’t have the expectation that everything has to be finished right away. If the garden isn’t ready immediately, then that’s just how it is. I’m not into status symbols either – an Aldi mailbox would be fine with me.

Then we are on the same page :)

;););)

We are :D

My Excel file is now pretty good. I can dynamically run different scenarios simultaneously regarding financing and construction options. That's why I have always asked silly questions here to maintain this table.

One more question about equity. They say you should have a certain percentage of your own equity available. But what is the total amount that is used as the basis?

1. House costs + land costs excluding ancillary purchase costs?
2. House costs + land costs excluding ancillary purchase costs and excluding ancillary construction costs?
3. another number