House construction / house purchase planned, evaluation of financing plan

As I said, some savings are available, but since the loan agreement is now to be finalized, the bank is not interested in what we can still save over the course of the year. Therefore, the money will then be spent on the kitchen, etc.

I will research the street costs again in more detail, but what is the legal situation there?

but since the loan agreement is now supposed to be finalized,

??? Then you'll be paying through the nose in commitment interest! :eek:

??? Then you’re paying yourself silly and stupid with the commitment interest! :eek:

No no, these are only due from 30.11.2021. And by then the land will already have been purchased and ideally construction of the house will have already started.

For the bank, it's always just about the risk. That has to do with the loan-to-value ratio. As long as the additional costs are covered by equity, that's fine. After that, it becomes at least somewhat more expensive.

With our last house, it was also a bit more difficult to find a suitable bank because the property was also registered with BORIS. From today's perspective, absolutely justified, but back then there were several rejections despite 15% equity.

is an expert and can explain it a bit better. ;)

I calculated the whole thing and come to a total of around 550,000 euros (just under 400 sqm land, 130 sqm living space, ready to move in including floors and painting). The price already includes all purchase and incidental building costs (even with a buffer upwards) as well as a garage, driveway, outdoor facilities.

Seems rather low to me with outdoor facilities, garage and expensive land. Especially since you quickly leave 25,000 euros for property transfer tax in the developer model. Please post some details on that.

No, no, those will only be due from 30.11.2021. And by then the land has already been purchased and ideally house construction has already started.

Do you only have 8 months of provisioning time? That is already very critical for house construction, even if you had already developed the land. How high is the provisioning interest? 3% is usual, that hits hard if you still owe 400,000 euros on the loan after the land. Is there a construction time guarantee from the provider and what happens if they do not meet it? The other question is whether you can already fix the loan now as a regular loan. Are the plots already divided, i.e. do they have their own land register? If not, as far as I know, usually only a forward loan is possible.

Construction start would be at the earliest at the end of 2021,

No no, they are only due from 30.11.2021 onwards. And by then the plot is already purchased and ideally construction of the house has already started.

You pay these interest during the construction period as long as the ENTIRE loan has not been drawn down. And a large project can sometimes be delayed by half a year. It often proceeds in construction phases...