Financing a house without equity

2019-12-16 16:29:50

Is there actually a big price difference between a single-family house built stone by stone and a single-family prefabricated house?

As mentioned, the market is not offering much at the moment. 1 sqm of building land costs about 300-500€

A solid house made of stones is usually somewhat cheaper than a wooden prefab house. However, as already mentioned, I would also estimate around 300,000 euros for a small house with 120 sqm, plus the land costs, and that doesn't fit with 400,000 euros.

Best regards
Sabine

2019-12-16 18:26:46

You should always have some equity to show the bank somewhere that you can also save or make sacrifices^^ For us, a single-family house was also not feasible, so we are well served with a semi-detached house with 147sqm. Costs including land...440k. Our income was significantly less than yours, but we did have the equity. So maybe wait another 3-4 years and save up.

2019-12-16 22:36:23

In case someone misunderstood me - the estimated 400,000€ should include the land.

That was already read that way. That's why the no.

As I said, at the moment the market doesn't offer much. 1 sqm of building land costs about 300-500€

Then calculate yourself if 's calculation is not plausible.

I would also look for existing houses. A search for land or a house takes 2-3 years. Therefore, you can't avoid checking every alternative, so also renting an apartment again if the market otherwise doesn't offer anything. You are still young after all.

2019-12-17 06:42:44

Uhm, yes, you can build for 400k including the plot. We (almost) managed. It ended up being 430k with everything included. But since we had a few special things added (massive groundworks of 25k) and the garage with carport can initially be left out, we would also come to 400k. So it is doable if you find a plot that is affordable and choose a provider from the cheaper category.

However, I see your income rather critically for the project. We have a bit more and are glad about it.

Child benefit was not counted for us. And our son was already well out of the "dangerous" infant phase.

2019-12-17 06:51:31

Um, yes, you can build for 400k including the plot.

If building plots cost 300-500 euros, then I see that rather critically. Most building plots will probably be over 500 sqm and thus cost at least 150,000-250,000 euros, and that's only for 500 sqm, larger ones correspondingly more.

Best regards
Sabine

2019-12-17 06:53:54

Um, yes you can build for 400k including the land. We (almost) managed it. It ended up being 430k with everything included. Since we had a few special things added (extensive groundwork costing 25k) and the garage with carport can be left out for now, we would also come to 400k. So it's definitely possible if you find a plot of land that is affordable and choose a provider in the lower price category.

However, I am a bit skeptical about your income for this project. We have a bit more and are grateful for it.

So child benefit was not counted for us. And our son was well out of the "dangerous" infant phase.

How expensive was your plot/house? We have had the keys to our plot since Sunday (800sqm = 190k). The house will cost about 175k.

Best regards, Steve

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Financing a house without equity

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