House construction for €400,000 possible with a net income of €4,100?

2018-06-10 11:28:48

Refinancing is always bad. Too expensive and the desired installment turns into a lousy installment. You can increasingly observe tight financings where the [TE] write: then use the special repayment. Statistically, hardly any homeowners use their special repayment in the first years. Because something always comes up. We ourselves used it, but additional savings were not possible. The outdoor area had to be nice, garden house, patio furniture. Then inside the house, furniture was replaced from time to time, bathroom furniture, etc. In between, a long-term goal and a vacation in Turkey once a year were possible. But we only financed 250k with 5k net income.

2018-06-10 12:04:07

Well, the basement is a decision you can never make afterwards, and the foundation slab also costs money, and if I make the house a total of 20 sqm bigger because I need the heating technology room + storage room. In the end, I might save maybe €15,000 which I compensate for with a garden shed/garage. But I have 50 sqm more in the basement. I think that's the decision everyone has to calculate for themselves. We are village kids, I just don’t know it any other way.

I am an electronics technician, not an electrician ;p that means I haven't dealt with chasing/drawing cables yet. I dare to help though, etc. But someone has to sign off and the electrical work is really the cheapest in price here.

The sum is, as I said, completely turnkey, I want to do floors/tiling/painting myself and I have an uncle for the windows; all that is included in the fixed price. So I might save "maybe" €10,000.

A decentralized controlled residential ventilation system is also included in the price; we’ll pretend we save the solar thermal system if the energy saving ordinance value is enough for it.

I want to have an estimate whether someone can handle something like this.

I am aware that this is a lot for a 25-year-old, but saving even more and then having rising interest + construction costs over the next 2 years cancel each other out in my opinion. It won’t get any cheaper anywhere.

2018-06-10 12:57:37

Well, the basement is a decision you can never make retrospectively and the foundation slab also costs money, and if I make the house overall 20 sqm larger because I need the heating technology room + storage room, in the end I might save about €15,000 which I compensate with a garden shed/garage. But for that, I have 50 sqm more in the basement. I think that is a decision everyone has to calculate for themselves. We are village kids, we just don’t know it any other way.

I am an electronics technician, not an electrician ;p which means I haven’t dealt with chasing/drawing cables yet. I’m confident enough to help out and so on. But someone has to sign off and the electrical work here is really the cheapest in price.

The amount, as I said, is completely turnkey, I want to do the floors/tiles/painting myself and I have an uncle for the windows, that is all included in the price. So I save "maybe" €10,000.

A decentralized controlled residential ventilation system is also included in the price, we just imagine that we save the solar thermal system if the energy saving ordinance value is sufficient for it.

I want to get an estimate whether one can manage something like that.

I am aware that this is a lot for a 25-year-old, but saving even more and then having rising interest rates + construction costs in the next 2 years cancel each other out in my opinion. It won’t get cheaper anywhere.

I think it is definitely manageable. But basically it’s true that you could build for €50,000 less. But you have to decide for yourselves if you want that. You have plenty of time to pay it off.

2018-06-20 11:52:27

And never let a boyfriend do the math! Otherwise, soon ex-boyfriend

Never let a boyfriend do the math, otherwise ex-boyfriend?

Isn't a smiley missing there??

2018-06-20 12:04:14

Moreover, this applies to every builder: one can secure a loan where, depending on the bank, a certain amount does not have to be drawn down without incurring a non-utilization fee.

Just as one should carefully plan the construction costs or the entire construction project, as well as one's own financial situation (and not that of the neighbor or the friend), financing should also be planned, and here one can wonderfully assemble the components, as well as the conditions that one requires.

Since it can make sense to budget an item for "unexpected/additional costs," it also makes sense, as a precaution in a new build, to consider equipping the loan with a non-utilization amount.

2018-07-04 20:25:08

Hello everyone,

there is news from me we have shortened the house a bit and have now reached a total financing amount of
€335,000.

Following your advice, I asked around and obtained another offer from my house bank; now I would like to have your feedback on it.

The €335,000 is divided into 2 without annuity loans, one €135,000 and €200,000 both with the same interest rate of 1.92%.

My existing 75 BSP will be dissolved but the closing fees will be credited to the 200 one, so I no longer have to pay for this.

The €200,000 is saved with €700
The €135,000 is saved with €460

Total rate = €1160

After 15 years I have a secured interest rate for another 15 years at 2.25% with a total rate of €1340

What do you think? I thus secure my interest rates for 30 years and stay within my monthly rate in a reasonable range?

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House construction for €400,000 possible with a net income of €4,100?

HilfeHilfe

Dany_E

hemali2003

Rumpelkopf

Rumpelkopf

Dany_E