From 0 to 100 in 3 years realistic? | Building obligation

I am always fascinated here, someone writes that they have a 2% initial repayment and the next person asks if they know how much of the installment goes towards repayment :eek:

The next one comes with the blanket statement that 2% is not possible anyway and far too little. Also nonsense again, it simply has to fit into the overall concept. If I have the choice between a special repayment and a repayment change (with most banks, the choice is a standard), the special repayment offers significantly more flexibility and security with a low initial repayment in the first 10 years, and afterwards it will. So now let the "financial experts" tear me apart.

Yes, the general expectation is rather that a follow-up financing in 10 years will probably no longer be possible at 0.3x% as it was a few months ago...

Whether you should aim straight for the size I leave open. I believe that price-wise, 600k for the all-in target will probably not work. That would have been realistic at the end of 2020, beginning of 2021; for 2023, when you should sign to have some leeway until completion (the tip about the "finished" state and what the municipality does if the expansion is not yet 100% completed probably allows for some leeway in this regard...), I would also expect 20-30% more.
I would definitely reserve the land (non-binding). In the meantime, test what the place would currently cost overall with your dreamed equipment, then add a 20% buffer for 2 years’ future and corresponding security; during planning, there will probably already be some classification (possible/impossible/strike items/size adjustments, etc.). At the same time, talk to a bank or a good! broker about the overall concept (save up equity, parental leave, etc.). If it does not remain impossible, buy the land and finance variably in the meantime. Just this year, with your planning, you would have to set aside about 50k€, with the resulting 50k you would have 100k in credit, which is not bad and the quick build is also rated quite positively with the corresponding story in the background. If it all fits together, sign and do it.

So the risk remains that you bought the land and would have to reverse the purchase if it doesn’t work out. Then probably a small five-figure amount would remain, which, considering the total investment, could be seen as a "black eye" and a gain in life experience.

These blanket statements about a credit that is way too high, a repayment that is way too low are rubbish anyway. Better to repay less and invest more money in my opinion. Our house has a market value of just under 900k, we will pay 788k after subsidies. Salary increases are still possible since we're in our early 30s... sometimes I just don't understand the problem here.

These general statements about too high credit, too low repayment are rubbish anyway. Better to repay less and invest more money in my opinion. Our house has a market value of just under 900k, we will pay 788k after subsidies. Salary increases are still possible since we are in our early 30s... sometimes I don’t understand the problem here.

These blanket statements about way too high a loan, way too small repayments are nonsense anyway. Better to repay less and invest more money in my opinion. Our house has a market value of just under 900k, we will pay 788k after subsidies. Salary increases are still possible since we are in our early 30s... I sometimes don't understand the problem here.