Financing new construction of a single-family house in the Greater Munich area

So calling Augsburg the greater Munich area is a bit strange ^^ regardless, I would do it. If you don’t want to do anything for 2024, assume 3500 euros per sqm, that should be fine

Also calling Augsburg the greater Munich area is kind of strange ^^

Some people say that the nicest thing about Augsburg is the proximity to Munich. However, nothing was said about where the jobs are.

Do you currently live in the condominium when you talk about the speculation period? There is no such thing with owner-occupation. Ask the tax advisor if it is worth keeping it and renting it out. Sale is only possible if the new house is (almost) finished and means interim financing. No one buys an apartment if it is not clear when the owners will move out.

Haha yes, so it is about 60 km from Munich, between Augsburg and Munich. I actually work in Munich, with the travel costs included in the 1500 €. My wife does not have a long commute. The condominium is rented out, so I have to wait for the speculation period. If we need the money, probably with interim financing. We ourselves live in a rental apartment of my father. Here we pay 600 euros rent. If we were to build, this amount would be given back to us as a gift.

Just for understanding again. For example, 3500€/sqm is without basement, garage and additional costs, right?

So, my sister-in-law is currently building in the greater Munich area. 160sqm with a basement and double garage costs them 700k. But additional construction costs of 50k, kitchen 20k, terrace, house entrance, driveway 20k+, furniture, photovoltaic system 15k are still missing. So at least 800k. You are planning an even bigger house at a later date. Therefore, I don’t think 700k for a turnkey house is possible.

Otherwise, everything sounds good with you. I would just leave out the basement or build it smaller, then it should be more relaxed. But you can get quotes first, then we’ll see.