Financing Check: Building a House in 2.5 Years

Are there really such cheap plots near Hamburg?

I have 5% per year, therefore 15%

Math isn't really your strength?!

And that's how everyone does it, so don't be surprised if your acquaintance's house actually cost 450K. As long as you haven't seen the house construction contract and all amendments with your own eyes, unfortunately you don't know anything at all.

I know them and also their Excel plan sheet because I built the formulas and reports into it.

Are there really such cheap plots near Hamburg?

I wanted to ask that too... I have a friend in Hamburg who bought a terraced mid-terrace house some time ago, and that is also in the direction of Norderstedt. In conversations with her, I got the impression that it is also a competitive, expensive area. She had to agree immediately back then, otherwise the property would have been gone. And it certainly hasn't gotten better since then...

North of the Elbe, everything is already more expensive than south of it; in Lemsahl, you're looking at 500-600€/m². The plots in the new development areas in Neugraben went for between 220 and 280€/m² this year. But for a small piece, it will still be enough.

Math is not really your strong suit?!

It was rough, I know that it makes a difference whether I compound every year individually. But thanks, smart guy.