Pound
2016-12-22 11:38:17
- #1
Hello everyone,
It's about the following: now that I am 24, I want to have my own premises, but to be honest, I am quite inexperienced and clueless, as I haven't built or converted very often yet. :p
The construction project is intended to be a hall from the 1960s, which is located on my family's property. It is either going to be converted or demolished and replaced with a prefabricated hall, which will be decided depending on the costs for potential renovation, asbestos roof disposal, structural plans, etc. But this should not be the main topic now.
I have planned a budget of about €150,000-200,000 for the entire conversion. I can currently only provide €30,000 in equity. I think €20,000 could possibly be arranged through a private loan from relatives.
I currently have no collateral, except for a permanent contract with a net income of €2,200 in a large company.
What is the best way to get the capital for the construction now? Building savings contract?
And what is roughly possible with my income? Can anyone share their experience?
I have no other debts or loans.
I would really appreciate your help.
Best regards
Alexander
It's about the following: now that I am 24, I want to have my own premises, but to be honest, I am quite inexperienced and clueless, as I haven't built or converted very often yet. :p
The construction project is intended to be a hall from the 1960s, which is located on my family's property. It is either going to be converted or demolished and replaced with a prefabricated hall, which will be decided depending on the costs for potential renovation, asbestos roof disposal, structural plans, etc. But this should not be the main topic now.
I have planned a budget of about €150,000-200,000 for the entire conversion. I can currently only provide €30,000 in equity. I think €20,000 could possibly be arranged through a private loan from relatives.
I currently have no collateral, except for a permanent contract with a net income of €2,200 in a large company.
What is the best way to get the capital for the construction now? Building savings contract?
And what is roughly possible with my income? Can anyone share their experience?
I have no other debts or loans.
I would really appreciate your help.
Best regards
Alexander