Steffen80
2016-04-23 16:31:10
- #1
It's certainly brave, but I see no other option. We saved the 20,000 in one year. We could certainly have shown equity of 60 to 70,000 euros in five years. And then? Even now it's impossible to find affordable plots in the Rhine-Main area. In five years, with significantly more equity, we wouldn't have paid 125,000 for the plot but rather 200,000. Money down the drain. So either now or never. The offer comes from the Sparkasse that operates in our new development area. But they have also provided 15 million in special loans for this construction project with 160 building plots. Yes, all costs are really included. Several independent experts reviewed the construction cost breakdown and agreed that it adds up. So no more renegotiations?
That is speculation (I doubt prices will continue to rise at that rate) and simply "nicely calculated." The fact is: You are taking significantly more risk with 20k equity (which is practically zero) than with 100k equity. The purchase/build price does not matter at all here. Nothing must go wrong for you. Maybe you are civil servants and then, of course, it's completely relaxed :) We once faced exactly the same situation and decided to save. Now, after some years, we have equity and everything is much more relaxed. Saving 20k a year is great... I would definitely save more equity or, first of all, save a significant amount of equity at all.