Financing new construction project with average income

Reads well :) When is the construction supposed to start? Depending on when you plan to begin, the construction costs may need to be adjusted a bit.

Reads well :)
When is the construction supposed to start? Depending on when you plan to begin, the construction costs might need to be adjusted a bit.

The building application is currently in process and construction start is planned for mid-year. I assume we won’t have to make many adjustments (not more than with any construction project :D). The house, including earthworks, foundation slab, and drainage, is at a fixed price up to move-in. The garages have already been calculated with a buffer of about €4,000, and all other items also include a buffer. For example, we need a retaining wall about 3m wide and just under 3m high. The current offer is just under €8,000 for execution in concrete; that should be doable cheaper as well, but we have calculated it this way in the project costs. A budget has also already been planned for soil replacement according to the soil report. According to the general contractor, about €8,000; I have budgeted €10,000. However, the geologist told us that he will be present during excavation and that it may not be necessary to dig as deep after all. Currently, we require about 60cm more excavation than the already planned 80cm.

If you have already secured the price and the construction project is about to start soon, that's fine. I'm just asking because some construction projects are being calculated here in the forum with current figures in 1-2 years. Out of interest: Are the conditions of 1.74% over 30 years still current after the drastic increase in January and February? If yes, at which bank?

If you have already secured the price and the construction project is starting soon, that's fine. I'm just asking because sometimes construction projects in this forum are calculated with current figures even though they are planned for 1-2 years from now. Out of interest: Are the conditions of 1.74% for 30 years still current after the sharp increase in January+February? If yes, at which bank?

The price is secure, everything is contractually fixed, and we also had a handover date with "penalty payments" to the detriment of the general contractor written into the contract. I have already read this often, many plan with far too low amounts when it comes to the house. I find outdoor facilities simply difficult to estimate, or you can manage quite a bit later through personal work. But if the price for the house is already set too low, the total cost calculation becomes shaky.

The conditions are current or we are waiting for feedback from the lender after submitting the application. The review should still take until next Monday. I think the chances are 50/50. Otherwise, we will have to choose more expensive conditions. However, I currently do not expect interest rates to continue rising so rapidly, and even with 2% interest, the construction project should still be feasible. I would like to tell you the credit institution via PM, but I don't have enough posts yet. It is definitely an insurance company.

You should not underestimate outdoor facilities. They are a battle of materials, and it only helps to a limited extent if you set your own working time at 0€. This applies even more to sloping terrain than to flat ground. Materials for retaining walls are expensive; beyond a certain height, it is dangerous without expert knowledge. You will certainly also need drainage for the retaining walls if you are building with a [weißer Wanne], etc.

Rarely see threads of this kind that are so well thought out. I find it all reads quite coherent. A few good points have already been made. Especially when children come, you might have to tighten your belt a bit for 1-2 years. But it's doable if you don't insist on staying home the full 3 years. ;) Maybe plan a little buffer for eventualities / hang story etc. Good equity, income isn’t bad either, and your ideas about a house aren’t over the top.