House purchase built in 1995 vs. new construction long-term cost calculation

There is not only flooring. Walls and ceilings are also generally suitable for surface heating and do not require that the entire floor structure including screed be redone.

- Costs for a two-story city villa (without basement) with 170 sqm living space including land in the region: 700,000 Euros - Building construction costs (floor, painting in EL) incl. ancillary costs: approx. 480,000 Euros

Hm, 170*3 = 510 - so I would also see the new build as more expensive and the gap to the existing property larger.

- Property is located in the desired town, parents within walking distance, circle of friends here, daycare, elementary school, supermarket available.

That would be worth much more to me than many other considerations which in the end are just residential luxury. We had a similar discussion: Getting out of the city a bit onto a plot of land we already owned to build a new house - or buying an existing house in the city. For us, the existing house was even significantly more expensive (economically totally unreasonable much more expensive) and we still decided on it. After all, life is not only about smart home and the like :) We also wanted to keep the family close, so the children wouldn’t have to be driven to elementary school, etc. So clearly pro existing property. With the money saved you could theoretically also build a small office extension?

Very good suggestion, the extension. Thank you for your input. :)

Viewed soberly, one can currently probably only recommend the existing house. Your planning for the new construction will be completed by the end of 2023. Construction starts in 2024, and by then it may be x % more expensive than today. Prices are still rising, not as sharply anymore but rising overall. Major renovations should be carried out before moving in, and smaller things can also be implemented easily little by little while living there.

There are certainly more attractive subsidies for the existing house than for the new construction. And with the comparatively low monthly burden, there is enough money left for the family and life ;-)

Maybe over time an even better property will come on the market. You are not dependent on much external capital, so you should not be unsettled by the current interest rate fluctuations. Because it is better to pay €1,500 monthly for the dream property than €1,300 just because the interest rate is currently 0.5% cheaper.

[SQUOTE="Allthewayup, post: 616029, member: 58798"]Viewed soberly, one can currently only advise the existing house. By the time your plans for the new build are completed, it will be the end of 2023. Construction begins in 2024, and by then it may be x % more expensive than today. Prices are still rising, albeit not as sharply, but they are increasing overall. Large renovations should be carried out before moving in, and smaller things can also be implemented gradually while living there without any problems.

There are certainly more attractive subsidies for the existing house than for the new build. And with the comparatively low monthly burden, there is enough money left for the family and life ;-)

Perhaps, over time, an even better property will come onto the market. You are not dependent on much external capital, so you shouldn’t be unsettled by the current interest rate fluctuations. Because it’s better to pay €1,500 monthly for the dream property than €1,300 because the interest rate is currently 0.5% cheaper.[/QUOTE] Very good closing words. :) Many thanks to everyone. We will buy the existing property. The notary appointment is set. :)

And the largest German housing company is stopping all its new construction projects that are not yet under construction today for an indefinite period. If even the big players do not want to build now, private individuals should definitely not try. This can often not end well.