Financing as a self-employed person

And where it gets to the limits, let the professional helper help? There is nothing you can’t teach yourself.

I find this statement quite interesting again and again. Of course, you can teach yourself a lot, and there are also many talented and conscientious DIYers (maybe the OP belongs to this category, of course, I don’t know) – but in my opinion, one should always keep in mind that craftsmen have to learn their profession in 3 years of apprenticeship and not on the side, but full-time (at least mostly). Then they become journeymen, and if they want to become masters, they need a few more years and experience. Why so much effort, if you can teach yourself everything anyway?

I’m sorry, but in most cases (as I said, there are exceptions) you can quite quickly tell whether a DIYer or a professional was at work. While this can still be ignored in the case of wallpaper/paint or laid laminate, it becomes difficult when the own DIY work involves more critical trades like sanitary installation, heating, or electricity. Here, you shouldn’t save at the wrong end.
You also have to keep in mind that professionals (I am only talking about normal/good craftsmen here) generally work significantly faster than you do yourself since they often work in teams and have better tools/material. This should definitely be taken into account when planning a home renovation.
Without having read the entire thread, I do wonder when the OP wants to renovate his house with a 60-hour work week without vacation; the time budget is quite tight.

@TE: I have read that you prefer to discuss financing in this thread - and you are welcome to do so. However, I stumbled over your above-quoted statement and wanted to comment on it. From personal experience, I know that in one's enthusiasm for an object, one sometimes deceives oneself a little - if it works out, it is a wonderful thing to live in your own house and to shape it - but you absolutely have to approach the matter somewhat realistically, otherwise you usually end up falling flat on your face... This concerns not only one's own abilities and the necessary time, but of course also the available and unavailable funds. Bogen wieder gespannt zum Kernthema des Threads .

That is indeed correct and important. I have often experienced with other builders that the painting work was supposed to be done by themselves. Just a bit of brushing. Then they stand there and have to plaster and sand drywall or element ceilings for the first time in their lives. Painting a new building for the first time is simply not the same as whitening a 3-room apartment.

That is indeed correct and important. I have often experienced with other builders that the painting work was supposed to be done by themselves. Just a little brushing. Then they stand there and have to putty and sand drywall or element ceilings for the first time in their lives. Painting a new building for the first time is simply not the same as whitewashing a 3-room apartment.

Many overestimate themselves even with such simple tasks, which usually turns out quite otherwise afterward!

I'm checking back in....

THE renovation project, unfortunately, has not yet been completed, meaning the owners are more than at odds (foreclosure was averted, but I am in contact with the owners), they are like sworn enemies. At the moment I am keeping some distance, or rather keeping it in the back of my mind and continuing to search (and I have already come across some interesting alternatives).

I always find this statement quite interesting. Of course, you can teach yourself a lot and there are also many talented and conscientious DIYers (maybe the original poster belongs to this category, I don’t know of course)—but in my opinion one should always keep in mind that craftsmen learn their trade in 3 years of apprenticeship and this is not done on the side, but full-time (usually at least). Then they become journeymen, and those who want to become masters need a few more years and experience. Why so much effort if you can just teach yourself everything anyway?

I understand all of you and what you mean, and I advise everyone not to overestimate themselves. You should know what you can do. But I’m probably a bit of an autodidact, and in times of the internet, you can easily get a lot of information. Sure, a craftsman has 3 years of training, I don’t want to dispute that with any craftsman, but many things could also be done more cost-effectively by oneself. For example: when I was 20 years old, I didn’t dare to do much yet, my car was in a workshop, control arms were worn out, I was driving at some point and (luckily at low speed) the tire (!) fell off. Another example: parents give the car to a workshop for an oil change, even though I told them no problem, I’ll do it and put in better oil. Result: the car almost caught fire on the highway, back home I drained half the oil because the idiots had poured in double the amount of oil, a few weeks later the engine had engine damage, total loss. Since then, I also enjoy doing everything myself on my vehicles (I admit the company car went to the workshop for inspection), but with brakes I better rely on my own judgment. With my fun car, for example, I replaced the timing belt, including everything around it. First I bought the necessary special tools, got a workshop manual, planned a day, and then did the whole thing. It was great fun and the moment when you turn the key and the valves don’t fly around your ears is priceless. Or the convertible top, it still fits perfectly.

I’m sorry, but in most cases (as said, there are exceptions) you can very quickly tell whether a DIYer or a professional was at work. You might be able to ignore this in the case of wallpaper/paint or laid laminate, it becomes difficult when your own DIY touches more critical trades like sanitary installation, heating, or electrical work. You shouldn’t skimp on the wrong end here.
You should also keep in mind that professionals (I’m only talking about normal/good craftsmen here) generally work significantly faster than you do yourself, as they are often several people and have better tools/materials. This should definitely be considered as part of house renovation planning.
Without having read the whole thread, I wonder when the original poster wants to renovate the house with a 60-hour work week and no vacation, the time budget seems a bit tight.

I have seen so much botched craftsmanship... the biggest difficulty is finding a good craftsman then...

Since I’m currently rather unmotivated health-wise to do big things myself, I am currently including in my budgeting the takeover of renovations etc. by trade companies. Also, I unfortunately lack the time, and I probably earn more money in the time I would spend laying tiles than I could afford to waste on renovation time.

This is not only about one’s own skills and the necessary time but of course also about the existing and non-existing financial resources. Back to the core topic of the thread.

Well, the financial resources are there. Equity is now at 70-80, emergency reserve approx. 25.

I don’t know how reliable these figures were, but personally I read that with 60 hours/week gross, €3,900/month is earned. That’s almost €15 per hour! Also the €2,600 net with 250 working days without vacation... ouch. Converted to a 9-to-5 employee that would be a monthly salary of maybe €1,600 per month (hour-wise) who is at least well socially insured.

By now, I see the project with those numbers extremely critically.

You don’t need to worry about self-employment. Maybe I am indeed a bit slow sitting in the office now with “low” utilization. Seems to be true that you are always “fully” utilized in self-employment no matter how many orders you get. As I said, I didn’t want to increase turnover much at the moment since I had enough for myself and my expenses. If something needs financing, I can expand easily, about 80/year.