Financing a relatively expensive dream house - would you dare?

Well, an experienced real estate banker can assess that just as well as an appraiser in 95% of cases. The question of value isn't objectively measurable anyway, but rather "presumably there will still be a fool in three years willing to pay value x for the wreck."

At which bank?

ING

What I gather is what you want. Your dream house. There's nothing wrong with that, but you should still think about your partner and your shared life plans. What does she want? Does she want to clean all those square meters? Who will take care of the property?

What about children? If the house has to be sold again because of insolvency, then you’re pulling them out of their home. As a self-employed person, you take more risks – and that’s a good thing. But the people around you usually don’t.

In my opinion, you should buy something smaller and solid, pay off a lot early, your partner should be included in the contract so that in case of insolvency she could possibly take over the house entirely. Security for her and possibly the offspring or the dogs and, by the way, also for you.

Do you want to be old someday and still tell everyone "about your dream house" back then? Or would a smaller house be okay too, but with your partner still by your side, your children grown up with stability, etc., because you could manage it even during drops in revenue?

In my opinion, you should buy something smaller and solid, make a lot of special repayments, your partner should be included in the contract so that in the event of insolvency she could possibly take over the house completely. Security for her and possibly the children or the dogs, and incidentally also for you.

We are talking about a net income of 100k per year (his, family net 130k). Honestly, a million for a house is something small and suitable. Most people here in the forum buy or build significantly "more expensive and larger" houses in relation to their income.

We are talking here about a net income of 100k per year (for him, family net income 130k). Honestly, a million for a house is something small and appropriate. Most people here in the forum buy or build houses that are significantly "more expensive and larger" in relation to their income.

I do not doubt the current affordability. I doubt that he has considered all the "soft" factors. The "how it feels to live in it." More square meters also require more time for maintenance and when is that supposed to be done by whom? As a self-employed person, time is rather scarce. I know fantastic houses, but I don't want to live in them because I wouldn't feel like taking care of the tasks that arise. External help like gardeners, household help, craftsmen also need to be commissioned. And not everyone wants to always have strangers in the house.

More square meters also require more time for maintenance, and when is anyone supposed to do that? As a self-employed person, time is rather scarce. I know dreamlike houses, but I wouldn’t want to live in them because I wouldn’t feel like taking care of the arising tasks. External help like gardeners, household helpers, craftsmen also have to be commissioned. And not everyone always wants to have strangers in their house.

Well, with 230 sqm of living space and 800 sqm of land, we’re not talking about a palace, but at most a somewhat larger, normal single-family house with a purchase price of around €900K. And if the original poster has so little time, it doesn’t matter whether the household help, the gardener, and craftsmen have to come into the 160 sqm house or the 230 sqm house.