Follow-up financing experiences. What has this brought upon you?

So far, we have not had to refinance. On the contrary, we are currently €20K under budget, hope it stays that way. It’s being immediately used for unplanned goodies...

Warning, outing:
We will implement KNX BECAUSE MY WIFE WANTS IT!!
I don’t understand the world anymore! The ETS is already here.

We have planned an additional €20K buffer (extra equity), plus €25K for a carport, €25K for the outdoor area. If something goes wrong, money will be taken from there if the buffer is not enough.

Oh yes, we did forget something, 600€ for a multi-utility house connection, which is now required after all. However, the house connections are generously calculated, so this will be balanced out in the calculation. And 200€ fees for the water authority for the permit to use RC gravel, for which the earthworks will be 2500€ cheaper.

So far, we haven't had to provide additional financing. On the contrary, we are currently €20K under budget, hope it continues like this It's being directly used for unplanned goodies ...

Warning, confession:
We will implement KNX BECAUSE MY WIFE WANTS IT!!
I don't understand the world anymore! ETS is already here.


We have planned another €20K buffer (additional equity), plus €25K for the carport, €25K for the outdoor area. If something goes wrong, money will be taken from there if the buffer is not enough.

Congratulations on the buffer and your wife

Since the question came up: Yes, it is possible to specify a buffer in the bank financing request.

In general, it is not unrealistic at all to accurately calculate a house construction. I sometimes calculate projects in plant construction, so the budget calculation for the house was quite easy for me. Anyone who understands something about this or hires someone accordingly should be accurate to within 3%, and with the same probability calculate too much or too little.

In my eyes and based on really thorough research, I planned a 10-20% buffer and we still had 20k in top. We are very cautious, but of course the budget was limited. Ultimately, it got really tight. Do yourselves a favor and don’t calculate too narrowly. For us, it was the typical things: many items underestimated (out of ignorance), a few items not considered (even though I dealt intensively with the cost breakdown for months), a few additional wishes during the construction phase, underestimated personal contribution. If we still had a few thousand left, we would commission the outdoor facilities – because we really don’t feel like it anymore.

We spent the planned 20,000 euros on the outdoor area. Then borrowed another 5,000 euros from family (parents) and saved a few thousand euros during construction. So we ended up with about the 10% necessary buffer. [emoji4]

Besides unexpected small costs in the additional expenses, which just add up, 5,000 euros for a steeper roof and thus a possible attic was a cost driver (necessary without a basement), earthworks naturally a few thousand euros more expensive, even though generously planned. Electrical work a bit more than planned and of course the equipment a few thousand euros more. [emoji4]

But all very relaxed. With a good salary, the outdoor area will be done this and next year and the short financing from the parents is directly paid off with bonuses. [emoji4]

But I consider a 10-15% buffer realistic in normal cases. If you are very disciplined or have planned individual items generously, whereby that is a buffer distributed over individual positions, it can work without. [emoji6] But rather rarely.