Interest rate development current situation. Build now or wait?

We saw a plot of land that we really liked. However, it is not free of the developer. It costs 75k, and of course the house would be additional.

How much would the house cost on it? Then you could go to the bank/different banks with the numbers and see if/what is possible? By the way, I find your plans and your discipline in saving good and would be happy if it works out soon. You know that "one" (not just you ;-) ) has to give up one thing or another for a house, but a normal life is still possible. You have taken a lot on for a child, so you can manage that with the house too. ;-) If you want, you can also explain a little whether it should be a detached single-family house or if a semi-detached house or a terraced house (for the beginning) would also be an option.

a terraced house (for starters)

just briefly: a terraced house is a fully-fledged residential house and not automatically "worse" or for beginners or anything like that. It can definitely be considered for the long term. I live in one myself. And I am very satisfied. I have lots of light, nice neighbors, a small but sufficiently large garden, a good location, nice neighbors, an integrated neighborhood, and the knowledge that it is ecologically still reasonably okay because it consumes less land and is reasonably affordable. I wouldn’t say it is a transitional house. Don’t be put off by a mid-terrace house. Besides the residents, the floor plan determines whether it becomes usable and inviting or a darkroom.

Otherwise, the option to look for a plot, buy it, and initially finance it flexibly is also good,

I don't see any plot here, and I don't see any house construction. Rather, I see buying an existing property.

I have found an independent financial advisor and will contact her today.

That’s great!

We wouldn’t want to plan the 20k fully, at least. That was the idea, even though the car is new. But somehow it always makes me uneasy.

Guess how bad you’ll feel if you have to finance €400,000? Don’t get me wrong – but construction costs consist of house costs, land costs, purchase incidental costs, construction incidental costs, outdoor facilities, and kitchen. From the saved €40,000, only the incidental costs are covered.

It feels to me like anyone “random” could just put up a little house and pay it off –

No, nobody can… I think you mean that everyone thinks they can build a house because the loans are so cheap…

Please don’t get me wrong – but what is wrong with that? Why does it annoy you? Shouldn’t you be indifferent whether they manage it or not? Sympathy at forced sale, if it doesn’t work out, is okay, but being annoyed because others build a house? o_O

I think he’s annoyed by the superficiality of some people. While you yourself plan your next life step with a goal and save money over several years, others think they can just snap their fingers and say “I’m getting a house now – you keep saving.”

I am certainly not someone who simply didn’t want to save in his life. Maybe some people can’t imagine that, but I fell ill shortly after finishing my apprenticeship back then. My salary was already very low.

Yes, everyone has their own fate that can set them back. There is no shame in that. If someone has been set back years, for whatever reason, they are no longer in the starting position where everyone was equal. Those who study after their apprenticeship have more money later and can save faster but start later. Those who finish their apprenticeship quickly can start earlier, although not with as much, but enough for a small house. Illness, having children, parents, studies – these are all factors. Ultimately though, it’s about the money, which has to be enough. And I don’t see new construction with you, no vacant plot with a house coming soon. And even plots without a builder usually have to be developed within 5 years. Private plots might still be possible, infill plots, but those are usually even more expensive than municipal land. Nevertheless, save – it doesn’t have to be the unpredictable new construction, it can also be done differently.

just briefly: a terraced house is a fully-fledged residential house and not automatically "worse" or for beginners or anything like that. You can definitely consider it for the long term.

You are right, I deliberately expressed myself badly there. I know that most people "dream" of a detached single-family house and thought that if the OP also dreams of that, one could make it appealing to her as an "entry point." However, I went too far, unfortunately, that is one of my deficits; it is almost intrusive. :-( I will try to refrain from doing so. For example, I find terraced houses very good because, in my view, they offer the ideal combination of owning your own house (promoting discipline, capital investment, etc.) and at the same time belonging to a community. Whether old or young, with or without children, in my opinion, it is really good. I now live in a multi-family house and already know that I will miss the community in our future house.

I now live in a multi-family house and already know that I will miss the community in our future house.

No problem, Pink. I only added the row house because I think the forum is not that representative. It's easy to lose your mind, maybe even bury it in the sand. And that would be a shame. Yes, I believe that people often underestimate how much neighbors and the surroundings contribute to quality of life. Part of my quality of life comes from having nice neighbors who are a small part of my life. With a detached single-family house, you have to invest much more in the community because they are farther away. My neighbors shoveled snow in front of my door without being asked. Simply because they are nice and there is a connection between us. Just like that, they cleared their and my sidewalk. I thought that was great. :D

No problem, Pink. I only added the terraced house part because I think the forum isn’t very representative. It’s easy to lose one’s mind there, maybe even bury it in the sand. And that would be a shame.

Yes, I believe that people often underestimate how much neighbors and the surroundings contribute to quality of life. Part of my quality of life is that I have nice neighbors and they are a small part of my life. With a detached single-family house, you have to invest much more in the community. Because they are farther away.

My neighbors shoveled snow in front of my door without being asked. Simply because they are nice and there is a connection between us. Just like that, they cleared their and my sidewalk. I thought that was great. :D

Definitely – especially if you also have a tendency towards community, or like having people around and don’t want to live “alone”. Of course, it must also fit your personal attitude. You also have to come to terms with the neighbors and should aim for a community with them. Then a terraced house can even suit you better than a detached single-family house.

Of course, it depends on whether that would even be an option for the original poster.