Financing of construction projects

oh yes, negotiation with the bank is still pending...

In my experience, not much more will change there. This is not a bazaar. Our offers were sharply calculated right from the start. Of course, you can squeeze out a few more points here and there, negotiate, or have other things contractually fixed, but don’t expect any quantum leaps anymore.

1.5 would be great... is something like that doable? What do you think otherwise about the financing?

I consider your plan quite feasible, however, you will probably not manage with the 300,000.- including [Baunebenkosten] and [Außenanlage], possibly even including a new kitchen and various other things, such as furniture, lamps, paint, flooring, wallpaper, etc. The 700.-€ installment is also very questionable and in my opinion, 300.-€ for additional costs is anything but generous. Of course, this also depends on you and what you include in the additional costs. If I calculate telephone/DSL, [GEZ], insurance, etc. all together, we come to almost 400.-€ (with relatively high heating consumption, since 24 degrees are heated in the living room and also in the bedroom, and high water consumption).

If you put the full 902€ into repayment, after 15 years at the same interest rate you will only have 124,000€ remaining debt and you will have no closing fees for a [Bausparvertrag]. And I could imagine that the bank might lower the interest rate a little bit with higher repayment. So probably even less remaining debt.

OK, but for that you also have no interest rate security.

I also consider your project quite possible, however, you will probably not get by with the 300,000.- including incidental building costs and outdoor facilities, possibly even including a new kitchen and various other things like furniture, lamps, paint, floor coverings, wallpaper, etc. The 700.-€ installment is also very questionable and in my opinion, 300.-€ ancillary costs are anything but generous. Of course, that also depends on you and what you count as ancillary costs. If I include telephone/DSL, GEZ, insurance, etc., we come to almost 400.-€ (with quite high heating consumption, since 24 degrees is maintained in the living room and also the bedroom is heated, and high water consumption).

Thank you very much first of all!

To the 290,000€ (house completely with all incidental building costs) comes the outdoor area (approx. 10,000€) and furniture etc. (approx. 20,000€, which we can pay from equity). From this side, I don't worry. I think one should not forget that prices in the East are probably a bit different than in the West :-)

The monthly ancillary costs are well calculated with 300€ I think, we live normally, but the bedroom is not heated with us :) 70€ electricity 70€ gas 25€ DSL 25€ building (great offer) 10 € waste fees 50€ sewage 18€ GEZ 15€ property tax 8€ chimney sweep 15€ household insurance.

So approximately 300€

We are now considering how to structure the financing :-/

Are you planning on making special repayments? If yes, how much is realistic per year? Then I would calculate that.