House construction too expensive - Stop building?

If the painter wants 25,000 EUR more(!!), I would wish him a speedy recovery and good luck with the next fool...

But that's exactly the problem. He will find the fool, usually people with two left hands who really can't do it themselves.

This is how prices get destroyed, by the way. No one dares to say no anymore, the craftsmen can take whatever they want...

WOW :) Actually, I should be working but this thread caught my attention -> "House construction too expensive - stop building?" I thought "oh bad for the OP - what happened there?" and then I read all this: a small installment nowadays for a house. An above-average income. Family in the background, plot on family land, shell construction standing, a condominium with an additional 500€ income... and then, sorry for the wording, people here are whining and spreading the worst panic as if they just reached subsistence level?! That sounds to me very much like "I somehow need attention." It can’t be explained rationally. In the following posts it also comes out that they live in the countryside (which is cheaper than in the city anyway), neighbors who can help out with, e.g., an excavator, father and husband are skilled craftsmen.

Thanks for the honest words. But still, I don’t believe that 4,600 is an above-average income. Sure, in the future there is room to grow for both of us, but right now I have to calculate with what we have. The rent is also currently only theoretical since it concerns the apartment we’re currently living in. That has to be rented out again first. When the money then flows, it’s of course a nice buffer we can draw from. If we didn’t have that, we could manage the installment, but nothing unforeseen must happen, and truly saving anything would be difficult... Therefore, I sometimes regret having started the construction and wonder if we wouldn’t be happier in a smaller rental apartment in the long run... What simply burdens me so much about the situation is the cut in our previous life. Before, we had about 800 euros more available per month and didn’t have to think much about our expenses and just lived. That will no longer be the case, and I will have to get used to this new life, for better or worse. Added to that is the uncertainty of further costs. Sure, we have the calculation and the shell construction is already standing, but unfortunately, we don’t have the luxury of a fixed price... I’ll just be glad if, in the end, everything works out and we stay within budget...

Don't panic, it'll be fine. I was also worried at first about the additional burden of 500 € per person per month. Previously 600 € rent all-in, now 1600 € mortgage and utilities. And it's working great :) You don't have to set aside four-figure amounts per month anymore. And I was even crazy enough to start a new job where I (initially) earn 250 € less per month net plus commuting costs. And that's working out great too :) Okay, each of us still has five-figure savings – that of course makes things a bit easier. Usually, they are not touched. Today I ordered a polishing machine for the car for 150 € – doable, money is left over. Current household net income: 4350 € plus approx. 5 k net special payments p.a. And we go out to eat, we get ice cream, etc. etc. We don't worry about that. Sure, we don't spend recklessly but we live reasonably and well. So sit back relaxed and keep going – it'll be fine :)

What is above average? With a net household income of 4,600 EUR, you with 2 adults and one child are definitely above the median, which by definition is above average. Specifically, you are probably wealthier than 75% of the total population and still 62% wealthier than couples without children. Regarding the net income.

No one can take away your worries, all homeowners have them. Some cope well with it, some do not.

But what is your alternative? Leaving the shell standing? What does the bank say about that? Again: The bank gave you the loan because they expect a finished house as collateral in the end. Eventually, commitment interest will run as well, which can become a considerable item. And you cannot pay back the loan either, the money for the shell is already gone.

One no longer has to set aside four-figure amounts per month.

You have to let it sink in for a while, but it's true. Unlike the tenant, who has to build up their assets alongside paying rent, you build up assets with every repayment installment in your own home. It would also be quite nonsensical to accumulate tens of thousands of euros alongside the loan; it's better to put that into the repayment.

With 400k, gifted land, gifted rental income, no time pressure, and a lot of personal effort, you can build a very high-quality single-family house with a double garage.

Personal effort is not just about awarding contracts and doing a bit of cleaning, but negotiating material prices yourself and procuring the material, doing light time-consuming tasks yourself. Installing a bit of click flooring and painting doesn’t add much in the end.

With your conditions, you could build houses every few years using personal effort, rent them out for ten years, then sell the apartments tax-free and keep the land.