Bauwunsch85
2021-10-26 14:24:05
- #1
Hello everyone,
we are still relatively at the beginning and by chance have a first cost estimate from a regional construction company. In general, I can say that we did not expect this so quickly but initially only put ourselves on a 1-2 year waiting list for plots in the area, so that we would still have time next year to accumulate more equity. In addition, I am changing employers in December after 14 years and moving to the public sector. Therefore, it is generally unfavorable to apply for a loan during the 6-month probationary period, but the plot would be exactly right for us.
General information about us:
Income and asset situation:
Equity
Housing costs:
Mobility costs: = 436 € monthly (2 cars paid off with 15km commute + 1 motorcycle)
Insurance costs: 107 € monthly
Living expenses: 870 € monthly
Savings contributions: 2,650 € monthly
Income and expense totals:
Construction project offer until 15.11.2021:
Plot 550m² / 130€ = 71,500
City villa approx. 168m² = 397,909
Notary / real estate transfer 32,858.63 (due to developer binding)
Building staking out 700
Soil survey 540
Certified site plan 700
House connection water/electricity up to the house + wastewater from street 8,300
Energy consultant 5,000
One-time charge water supply and disposal 3,201
Total cost estimate 520,708.63 €
Which amounts are still actually missing here? Unfortunately, we are still lacking an assessment of what else to expect, precisely because we are still so early in the process. We had actually always assumed house connection costs rather at 15,000, a safety buffer in our imagination at 20,000, and another 18,000 for the outdoor facilities. So we think that 565,500 € is more realistic. Do you see a possibility to realize the desired construction project here? Will the banks consider the entire equity even if we do not want to touch part of it as a buffer? Which financing components would you recommend to us? The building savings contract is old and today I would no longer take out something like this, but what exists can of course also be used. It would be important to us to have the option to change the repayment rate during the term and about 5% special repayments in order to be able to reduce the loan to zero within an interest rate lock-in period of 20-25 years.
We would really appreciate constructive criticism and tips. If anything is still unclear, I am happy to provide more information.
we are still relatively at the beginning and by chance have a first cost estimate from a regional construction company. In general, I can say that we did not expect this so quickly but initially only put ourselves on a 1-2 year waiting list for plots in the area, so that we would still have time next year to accumulate more equity. In addition, I am changing employers in December after 14 years and moving to the public sector. Therefore, it is generally unfavorable to apply for a loan during the 6-month probationary period, but the plot would be exactly right for us.
General information about us:
[*]36/35 years old
[*]Child planned in about 1 year
[*]employed IT 40 hrs. / employed public service 39 hrs.
Income and asset situation:
[*]gross 5,000 / net 3,000 he
[*]gross 4,000 / net 2,500 she + Christmas bonus + vacation pay
Equity
[*]35,000 equity saved by end of 2021
[*]additional 30,000 planned by end of 2022
[*]30,000 building savings contract matured by end of 2022
[*]savings funds as retirement provision 47,000 (we do not want to touch)
Housing costs:
[*]630 cold rent (114m² maisonette apartment)
[*]880 warm rent
[*]65 electricity
[*]80 telephone, internet, mobile phone
Mobility costs: = 436 € monthly (2 cars paid off with 15km commute + 1 motorcycle)
[*]120 maintenance/repairs
[*]60 insurance
[*]26 taxes
[*]200 fuel
[*]30 motorcycle
Insurance costs: 107 € monthly
[*]60 disability
[*]7 household contents
[*]9 liability
[*]12 accident insurance
[*]12 disability
[*]7 private health insurance
Living expenses: 870 € monthly
[*]600 groceries
[*]100 restaurant costs
[*]10 personal care/drugstore
[*]10 medicine
[*]50 clothing
[*]50 furniture
[*]50 tickets (football, cinema, concerts)
Savings contributions: 2,650 € monthly
[*]100 vacation
[*]250 building savers
[*]1,800 house
[*]400 retirement provision
[*]100 hobbies/gifts/miscellaneous
Income and expense totals:
[*]Total income = 5,500 €
[*]Total expenses = 5,088 €
[*]Balance = 412 €
[*]Sum of cold rent and dispensable savings contributions = 630 + 1,800 € = 2,430 €
Construction project offer until 15.11.2021:
Plot 550m² / 130€ = 71,500
City villa approx. 168m² = 397,909
Notary / real estate transfer 32,858.63 (due to developer binding)
Building staking out 700
Soil survey 540
Certified site plan 700
House connection water/electricity up to the house + wastewater from street 8,300
Energy consultant 5,000
One-time charge water supply and disposal 3,201
Total cost estimate 520,708.63 €
Which amounts are still actually missing here? Unfortunately, we are still lacking an assessment of what else to expect, precisely because we are still so early in the process. We had actually always assumed house connection costs rather at 15,000, a safety buffer in our imagination at 20,000, and another 18,000 for the outdoor facilities. So we think that 565,500 € is more realistic. Do you see a possibility to realize the desired construction project here? Will the banks consider the entire equity even if we do not want to touch part of it as a buffer? Which financing components would you recommend to us? The building savings contract is old and today I would no longer take out something like this, but what exists can of course also be used. It would be important to us to have the option to change the repayment rate during the term and about 5% special repayments in order to be able to reduce the loan to zero within an interest rate lock-in period of 20-25 years.
We would really appreciate constructive criticism and tips. If anything is still unclear, I am happy to provide more information.