Is building a house feasible? We are totally uncertain...

Please be careful!! You have forgotten an important item - or I have overlooked something! Where are the additional costs?? Calculate about 70,000 more for that (tax, earthworks, connections, garden, access paths, etc. and of course kitchen and moving (are floors, wallpaper, plaster included already??). And: don’t forget in all that calculating that the ongoing additional costs (trash, electricity, water, insurance...) are somewhat higher than in your rental apartment. Accordingly, take your cold rent plus all the charges and then compare with the loan plus increased charges. And, yes, your desired provider is expensive. But don’t think that a “cheaper” provider will actually end up being significantly cheaper. How about a condominium instead?

We rule out a condominium for us. Currently we live in a rental house with 7 units and the noise annoys us somewhat... besides, in most condominiums it is hard to get 2 garages, which would be a MUST for us.

But then you should calculate again:

Plot around 100k incl. notary and tax
Desired house 220k
Double garage 10k.
Additional costs around 70k

Adds up to: 400! ... unfortunately

Hi,

I'll also give my two cents.

Have you looked at the house more closely? I assume this is the price example from the Weberhaus page. This price is shown to me as "bathroom complete" and that is only the middle level of finishing. The gypsum surfaces still need to be plastered, and window sills, doors, floor and wall coverings are also missing.

Take a look at the Weberhaus page under "Price and Performance" and "Save by self-construction," where the different levels are shown.

So much more will be added to the 220,000 euros. You have planned a buffer of 40,000 euros, but that can already be eaten up by additional construction costs (search for this here in the forum). The double garage will probably also be more expensive; according to what people write here, 10,000 euros are not enough for that.

Here, 1,500 € per m² are always calculated for a "normal" KfW70 house, so with 158 m² of the Balance 300, that's 237,000 € just for the house. With land (80,000 €) and double garage (20,000 €), you are already at 337,000 €, and then floor coverings, painting work, landscaping, and above all additional building costs are still missing!

My suggestions:
- Smaller house/plot
- Possibly cheaper provider (I think Weberhaus is rather a bit more expensive, also a prefabricated house)
- Save more ... you manage 14,400 € per year.

The question is how much equity should be saved? The 10% doesn’t make much of a difference, does it? And if we save for another 3-4 years, we will be in our late 30s and might not get the loan approved because of our age (I’ve read that somewhere before).

Regarding personal contributions, we would definitely trust ourselves to do the flooring and plastering work.

Regarding the KFW loans:

If a KfW efficiency house is built, these are usually used. Whether it is worthwhile for you to take advantage of this funding, and also others, you have to weigh up yourselves. Often, grace periods are provided here, low repayment rates, no special repayments, and only 10-year fixed interest periods.

Regarding your question "now or never?":
The interest rates are indeed tempting low, but that must not be the reason for building. You have to calculate it for yourselves. If you choose a 10-year fixed interest period and the financing is already calculated very tightly (e.g. only 1% initial repayment with your low equity), hardly anything will be repaid after 10 years, and if children then arrive, you may no longer be able to manage the financing (higher interest rates). But only you can judge that. Your income situation (without children) is not bad!

You can add another €20,000 to your planning for the double garage, and photovoltaics... well, I don't think €350,000 will be enough, not with the provider you have chosen. They play in the same price league as our provider.