Inherited equity, what to do, experiences?

but I only pointed out the double standards in the post.

That is what you want to read.

NEW CONSTRUCTION of a terraced house is so much more ecological than newly building a single-family house? Hardly.

She didn’t write that. She writes that ecology and the landscape do not allow everyone to build a single-family house. That is something different. One is a condition, the other what one does,

Wrong. The entire statement was indeed a hyperbole. You have to be able to read between the lines. It was made very clear that you couldn't convey this to your children if everyone were to build a house, and at the same time, you yourself are registered in the house-building forum and thereby support single-family house construction. That is really a contradiction in itself that the comment cannot resolve.

I am really happy that there is such active participation here!! Thank you, thank you, thank you! All contributions give us so many great ideas to think about! Especially the first one has made us feel very positive after all the overwhelm! The story about the underground parking garage and a homeowners’ association was mentioned by the real estate agent, but I hadn’t given much thought to the consequences yet.

We are definitely very happy and grateful that we have been provided with this capital! The 350,000 includes money we have saved ourselves, and depending on how long the search takes, a little more money would probably be added. I realize that we count ourselves among the lucky ones who can go house hunting relatively carefree in today’s times. But we don’t want to be reckless and above all, we still want to “live.”

We don’t want to push ourselves to the absolute limit and ideally, we want to pay no more than €2,000 per month (which already sounds like an incredibly large amount of money to me). We want to be safe in case the worst case happens and my husband becomes unable to work and we have a house with three kids that in 15 years might only be worth half the original purchase price.

That’s why we are unsure whether we should play it safe and buy a newly built expensive house or a cheap old one. If that is even the safe option?

The 700k I mentioned so far would be our absolute top limit. That’s why an old building at that price is not without negotiation, and this new corner townhouse is actually already a bit too expensive, but a good option? I will upload a floor plan so you can better imagine what I mean by “looking into the gardens.” Actually, I have no problem with townhouses, we currently live in one and are very satisfied, except that unfortunately the basement is damp. And actually, here on our street, only retirees and two-person households live. We are the only ones with children.

I also had a bit of the feeling in between that we now have to buy “quickly” so that the money doesn’t “sit around” for too long. My father-in-law said somewhat bluntly the other day that we should finally take care of financing now because interest rates continue to rise. Hence also the story about the forward loan, and many thanks for the information !

My question about the equity was also aimed at how much of the capital we should actually put into the mortgage. : The very cautious 250,000 was already a very good starting point, thank you!

After reading around a bit here, we found that most people don’t put all their capital into the mortgage. An emergency fund is also often mentioned. How much would you set aside there and how would you invest it so that it is quickly available if, for example, something happens to the roof? We also briefly considered whether we should try not to take out any loan at all and, for example, buy an apartment for 300,000. Would any of you do it that way?

This is probably very basic now, but how does the financing actually work? I did read the forum’s guide a while ago, but to be honest, it’s still not entirely clear to me.

Let’s say we buy an existing property and first have the essentials done. Heating, roof, windows, for example. I go through the house on a second viewing with a construction expert and they tell me: you need to renovate for about 150k. Do I then have to take out one loan for the purchase price of the house minus equity and closing costs and another for the estimated renovation costs? I don’t even know how much all this will actually cost. Or do I go to the bank and say I need loan amount x (so basically a fictitious price) for a house that needs renovation and then submit the invoices? How does it work with materials for DIY work? Should I pay those from equity? And then there are also KfW loans…

The thing about my husband being all thumbs was probably a bit misleadingly expressed. We can’t do nothing. My father is a turner and my family is from Poland (does anyone here know Polish people in construction?). Of course, we have already knocked off tiles, laid flooring, wallpapered, installed lamps, installed new sockets in the past… but we also want to be realistic and not overload my full-time working father and my sick mother with too much work. And not ourselves either.

That some here are in favor of building yourselves (of course, this is also the house building forum) really caught me by surprise. How long does something like that usually take nowadays? The few acquaintances we have only come with horror stories. No materials, no skilled workers, endless delays. Do we then have to get a plot of land and a building permit and then commission a company like Viebrockhaus? Or do we go there first, make a plan, and then look for a plot?

Many greetings and I am very glad that you take the time to enlighten me!!

It is about R11. From the living room window, you can see into the gardens of R6-R8 and all the house entrances of the lower row 217. This is a resident footpath, so at least not much through traffic :D I just remembered that the real estate agent said that the house with the 37 top right is apparently now being sold. It is a townhouse with a large garden that directly borders the side garden of R11. What happens if an investor buys it, tears it down, and builds a multi-family house? Would that be a possibility we should consider?

I personally find the location of the house, since it is basically in the corner, not quite ideal. Because this way you always look sideways at the row of older terraced houses. But if you have always wanted a house and like the floor plan, why not? In the worst case, an investor can of course build a 12m high two-story house with an expanded attic 3m from the boundary (if less than 1/3 of the outer wall, even 2m close). I consider that unlikely due to the high interest rates/construction costs, since the entire row of terraced houses would then have to be purchased, and probably no one will do that. And with an air-to-water heat pump, of course, you also have peace. I would probably take it if you want to move in quickly and worry-free without construction stress.

We also thought for a while about trying not to take out any loan at all and for example buy an apartment for 300,000. Would any of you do it that way?

So, you have to decide for yourselves whether you are more the type for an apartment, house, little or a lot of garden. Wasn't there a note further up about "liking to have a garden"?

Building surveyor through the house and he tells me: you have to renovate for about 150k.

If the renovation only costs that much… it is assumed that a renovation costs about 2-3000€/sqm living space, hence my concerns. But regarding your financing question: you calculate everything in advance, purchase costs and renovation costs, give the entire calculation to the bank including existing equity (that is what you want to contribute) and the bank gives you a financing proposal for the whole. And yes, certainly there is a KfW grant, I didn't think of that! And then you proceed with a sharp pencil, where you can save what. Then your reliable family will come and support you :)

How long does something like that usually take nowadays? The few acquaintances we have always come with horror stories. No materials, no skilled workers, endless delays.

Yes, but with house construction through a GU he organizes and guarantees you the craftsmen. You have to do very little, but can do quite a bit ....

That here are some who are for self-building

No, not really: self-building means rather building with a GU or architect and BU. GU: general contractor

the house with the 37

concerns a city villa with a large garden that directly borders the side garden of R11. What happens if an investor buys it, tears it down

He has to comply with the probably existing development plan. I don’t see more than terraced houses there, but you can of course take a look. With your view I don’t see a dilemma now, you can claim the garden pretty well for yourselves. If you don’t like people, then it’s the wrong property.