Financing single-family house 150 sqm plus basement granny flat

2020-05-22 13:38:56

210m² of living space on a hillside for 380k I do not see. What about demolition costs? Why is there no equity despite quite a decent income at that age, but a car bought on credit? In my opinion, everything is still a bit optimistically calculated, it will be doable, but I think scaling back a bit and, above all, a realistic calculation would be helpful.

2020-05-22 15:06:30

210m² living space on a slope for 380k I don't see. What about demolition costs? Why is there no equity with such a decent income at that age, but a car on credit? In my opinion, everything is still a bit optimistically calculated, it will be doable, but I think smaller steps and above all realistic calculations would be helpful.

Equity is available, but reserved for our wedding. Since we have not been in working life for long, we have not been able to save much yet. We are planning the house with a good acquaintance who is a civil engineer. He is helping us and knows many companies, which allows us to push the price down. From him, we also have the amount we should roughly calculate with. The demolition offer is already in, it will cost us 20,000 euros.

2020-05-22 15:08:54

We were told about the building savings contract in such a way that it might be the case that you cannot redeem the remaining amount with the building savings contract, meaning you only get the money you have paid in. We were only offered this arrangement with a building savings contract at the red bank. Everyone else offered a classic annuity loan, for which we have decided. Ask for an offer of 20 or 25 years so that the remaining debt is manageable.

We spoke again about 25 years and now also see it that we are best off with a remaining debt that is then not so high and that we might even be able to make special repayments during the 25 years.

2020-05-22 20:00:49

Ok, that all doesn't sound unreasonable. Nevertheless, add another 20% to the engineer's estimate, there's always something and objectively it is calculated very tightly. It is also not visible where the construction is supposed to take place. In Saxony or Mecklenburg-Western Pomerania, the amounts are certainly more realistic than in southern Germany.

2020-05-22 21:50:51

Ok, that all doesn't sound unreasonable. Nevertheless, add another 20% on top of the engineer's estimate, something always comes up and objectively it is very tightly calculated. You also can't see where the construction is supposed to take place. In Saxony or Mecklenburg-Western Pomerania the amounts are certainly more realistic than in southern Germany.

Thank you very much for the tip about the 20%. We might consider that. You never know what else comes up during construction. Construction is taking place in Hesse.

2020-05-22 22:32:29

We built in Ba-Wü and spent just under 490,000 euros for 180 sqm including carport (including architect and outdoor facilities but excluding furnishings and land). The plan was a maximum of 465,000. There is always something. Mostly it's your own fault because you still want the "luxury".

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Financing single-family house 150 sqm plus basement granny flat

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