House Construction Financing Assessment

I regularly hear that a garage can also be built later and the garden can be done later (this wasn’t a point from you, Curly). Then I always wonder, what is supposed to pay for it if it can’t even be co-financed?

From the monthly savings rate or special payments like bonuses, which one does not want to include in a financing calculation. As for us, we have structured the financing so that it can be paid with one salary. Currently, however, we have more income (since no one is working part-time or similar at the moment) and this surplus can be invested for the first 2-4 years.

Thank you very much for the answers.
Equity has accumulated because we only pay 350€ warm + electricity!!!! Yes, such things still exist :) But it's only 50 sqm.
Maybe the idea would be better to buy the plot of land and only then build in about 2 years. I also don't think that interest rates will change drastically during that time, or what do you think?

a look into the crystal ball :) just kidding, no one can tell you.

basically reasonable. the only concerning thing would be the child wish. Then your life circumstances change (you need more space) but also the financial situation (if you go part-time + children cost money).

No bank makes a financial life plan, you should calculate that for yourselves

Maybe the idea would be better to buy the plot and then build in about 2 years. I also don’t think that the interest rates will change drastically in that time, or what do you think?

Unfortunately, crystal balls are out of stock right now. Also, I wouldn’t postpone the project. See my other questions/points:

found a great plot and are considering whether to buy it.

How long can you think it over?

K-Wunsch

That would really be something to consider/calculate carefully

overall we don’t want to spend more than 320K

How do you arrive at that amount? Or rather, what limit have you set for the financing?

Equity has accumulated since we only pay 350€ warm + electricity

You do know that you have to calculate operating costs of 2.5€ per sqm living space for a house. Have you considered that already?

you don’t have to spend 20,000 euros on the garden and you can also build a garage later.

No, but for 2.5 you also can’t have the outdoor facilities designed/done yourself. For me, the 20,000 is the minimum so that you don’t have to walk through mud into the house and set up your grill on the brown mud for the next 10 years :cool:

The property is not gone immediately. A new development area is being created and we could use contacts to delay it even longer...
I am of course aware of the additional costs with a house.
We arrive at the sum of 320K because we will not spend more than €1000 on repayment + interest. In addition, I calculate about €300 (additional costs). Since it is a new build, this is realistic.
Therefore, at this point, I would not want to borrow more than 270k. You have to be realistic. At some point, it has to be paid off.

The cost of childcare is clear to me. The good thing is that both our parents live in the immediate vicinity and could support us with the children. Therefore, the plan is that the woman goes back to work after one year. During that time, one would still have maternity benefits available. Of course, that is not 100% of the salary, but it also does not mean losing a full salary.

In terms of personality, we are not the type to throw money around, but to use it thoughtfully. A completely normal life.

The property is not gone immediately. A new development area is being created and we could use contacts to stall it for a longer time...
Of course, I am aware of the additional costs involved with a house.
We arrive at the sum of 320K because we will not spend more than €1000 on repayment+interest. I also calculate about €300 (additional costs). Since it is a new building, this is realistic.
Therefore, I would not want to take out more than 270k at this point. One has to stay realistic. At some point it has to be paid off.

I understand the cost of child benefits. The good thing is that both our parents live very close and could support us with the children. Therefore, the plan is that the wife goes back to work after one year. In the meantime, maternity pay would still be available. Of course, that's not 100% of the salary, but not a full salary is lost either.

We are also not the type of people to throw money away, but to use it thoughtfully. Just a normal life.

purely from life experience with children and parents. :) So my parents sometimes like to take the kids, but only sometimes and not for weeks at a time; they are retirees and never have time :cool::p

but I also know people who take a week-long child-free vacation on a ship; their child is 1 year old

With us, great plots of land (if there ever are any, at the moment there are none) are gone immediately. In your place, I wouldn't rely on the seller waiting for you forever. If you like it, then I would buy it too; you can still build later. We only got our plot of land with a lot of luck and decided immediately for the plot.

Best regards
Sabine