Financing house construction is feasible

Thank you [emoji4]

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Based on the net income and the total amount mentioned so far - not verified - a financing is fundamentally initially feasible in relation to the total costs, but further information is also necessary here in order to answer the question conclusively and sustainably.

Ultimately, of course, it can only be assessed upon reviewing all documents, just as with the construction costs!

Regardless of having built and financed about 400 new buildings, I think it becomes clear that I am not making any promises; rather, the income – assuming the woman works again – fits the assumed, not verified, amount and would be feasible. Both, creditworthiness and costs, are naturally to be examined thoroughly and sustainably.

My intention was to discuss financing here rather than question the construction and costs in another thread. Otherwise, everything gets mixed up; we have so many subthreads here. Financing is one thing, the costs of new construction another, the crucial basis. Nevertheless, financing concerns, worries, questions, and necessary information can also initially be discussed hypothetically based on an amount that one thinks is initially sufficient.

Regardless of having also built and financed about 400 new constructions, I think it becomes clear that I am not making any promises; rather, the income – assuming the woman works again – matches the assumed, not audited, amount and could be demonstrated. Both the creditworthiness and the costs are, of course, to be examined intensively and thoroughly.

My intention here was rather to discuss the financing and to question the construction and costs in another thread. Otherwise, everything gets mixed up; we have so many subthreads here. Financing is one thing, the costs of a new build another, the decisive basis. Nevertheless, financing concerns, worries, questions, and necessary information can fundamentally first be discussed hypothetically using an amount that is considered sufficient for the time being.

What comes out of this you can see in #13! The bank has already confirmed 220,000, as far as I read from the OP. It’s all just pure theory anyway since no plot of land exists yet... but you can see from this _that_ the OP does not ask these more important questions like "Can I get a house with land for 220,000," that this question is hypothetical unless one first finds out how expensive building a house in region xy is with which calculation items.

Believe me, after several years in a forum that covers almost all topics related to house construction, there is no point in seeing each forum in isolation.

And as already said: the 220,000 was confirmed without any calculation. No calculation present... so ask yourself what is being asked here if you read the opening post with the stated figures.

Here again the question:

?..
Do you think something is possible for this "money"?
.....

Until something becomes final, the numbers may still be adjusted and changed a few times. This is very, very important for the construction, but also for the financing, because the costs are the basis.

I find construction in the construction thread and it is also helpful to refer him to this thread or to make him aware to question the costs there intensively and to bring up the financing aspect here for discussion. Possibly this will first be put on hold here until the costs are properly determined - if they are currently unreasonably calculated.

Wouldn't that be the right way, also so that those who want to read about and inform themselves on financing do not have to deal with construction questions in this financing thread?

This forum explains itself after just a few clicks. Every user should also be able to recognize which questions arise regarding building a house when reading the headings of the individual forums.

However, you are free to what extent you pepper your answers with links to our subforums.

Good night

Regards

The bank thinks that 220,000 would be doable without any problems, sounds alright at first, I think. Equity about 15,000, so rather slim...

Are the 220 including the 15K equity or would that be on top?

Costs for turnkey about 150,000.

Do you think something is doable for this "money"?

Have you already dealt with the provider, or read through the construction service description? And for which equipment line are the 150K? Although it is advertised as turnkey, for example

painting work inside, wall and floor coverings as well as silicone joints are not included in the scope of services.

These usually add another 10-15K€ on top at this house class.

The earthworks included will probably not be enough. More precise information will only be known after the soil survey. Still, this must be planned for.

Then the other ancillary building costs like supply/disposal services/etc. etc.

Also, the standard is only an energy saving ordinance house without underfloor heating. Kfw55 is extra. Does anyone still want that today?

What about outdoor facilities, as well as carport or garage?

And from a sampling no one comes out without having spent another 10-15K.

Just these points, which I just noticed together, easily add up to 90-105K€; and two-thirds of that are absolutely necessary to move in. And the remaining third is needed so it looks like a house.

oh yes, you also need the plot. Also think about the ancillary purchase costs; but at 30K they don’t weigh that heavily.

Expecting a child in March house construction will of course only be carried out afterwards when the missus goes back to work

You still have some time. Maybe save some more equity. What do you pay in cold rent today?

Otherwise, the only help is to continue dealing with the topic so that in the end you don’t experience any nasty surprises. For example, also read construction diaries of those who have built with SH. That also gives a good insight into what is missing in the calculation.

And don’t let SH pressure you into just signing a work contract.