Is building a semi-detached house sensible despite low equity with a long loan term?

So I don’t understand what goes on in some people’s heads. They say the net income isn’t particularly good. They should take a look at the average income. Even with €4200 net, it’s possible to keep the place and feed the family. Others manage with less than €1000. It’s unbelievable what some people imagine here. Does there have to be a new Benz next to the house.. otherwise a second-class person? And with sums like these, that 50% is always mentioned. If I talk about €2 net and have €1000 repayment, then I get it, but here… well.

Own work painter and floor.. I hope you know that painting is not just about smearing white paint. Some people tend to forget that. It’s definitely doable as an unskilled worker and no rocket science, but it’s sweaty work. The same goes for the floor.

Painter, floor €10K will only be enough if you do it completely yourself. Otherwise, not even the painter will be covered. House costs you can add another €15-20K. There will be small decorative moldings for the bathroom, different tiles, here and there a socket, a different switch program than the yellowed one from 1980, stair patterning, and so on and so forth.

Financially, I think it’s all doable. At least with the numbers from you.

But again, about all these posts here. Quite a few snobby people around... "If the plot is so expensive, then there has to be a house like that on it." and so on. Thank God I don’t have you as neighbors. People get branded immediately if they don’t drive a new car every 2 years.

Forget the comment or drive through areas with high sqm prices and take a look at the houses. Then you will have your own picture. Why is that? No idea.

Please do not forget: Land prices of 650-800 euros/sqm are rather normal in this region around Nuremberg. This has nothing to do with a luxurious residential area. In luxury areas here you simply have to pay more. Further outside, prices of course drop significantly, but this would also be associated with longer travel distances to almost everything (shopping, work, parents).

But back to the actual topic: We will now analyze our expenses from the last 6 months exactly and make a cost breakdown. Then we will also know where how much money goes and where we can cut back if necessary. It’s a tough pill to swallow when you hear that you have to pay a monthly installment of 2,150 euros for over 10 years and then continue with about 1,700 euros for another 20 years (without factoring in special repayments).

, thanks for your contribution: We are aware that painting the wall is not the only thing included in painting work. My father as well as I am skilled with crafts (for example, my father undertook quite a bit of the interior fitting out himself in my parents’ house), we also laid the floors entirely on our own in our current apartment. These are things I trust myself to do. Electrical work could also be done, but we don’t want to overdo it and overestimate ourselves. That’s why “only” the two trades plus the outdoor area will be done by ourselves. Additional sockets, other fittings and ceramics in the bathroom, electric blinds and a buffer are already included in the price. In the meantime, we have also found an acquaintance of a friend who built with the construction company and could confirm that the house price was really fixed and that at least with their build no unexpected construction costs came up.

You get labeled right away if you don’t drive a new car every two years.

These labels are very entertaining. We were considered spontaneously impoverished when we gave up a BMW eight-cylinder in 2007 and then drove a small Toyota. At the moment, we are once again considered "rehabilitated wealthy" in terms of vehicles.

Anyone who cares about something like that or judges people by it has completely different problems. I don’t care what my neighbors do as long as they leave me alone. There are good clues here, but in the end, all parameters must be evaluated together. Individual ones can only ever be indicators. In this case, very high land price, high monthly rate with normal net income, and low construction costs. In sum, the combination at least carries risks that need to be considered and weighed.

high monthly rate with normal net income...

7000€ net monthly is an above-average net income and also allows for an above-average rate.

The net income is more than twice as high as the median income of families in D, even during parental leave.

I cannot agree with either the property/house price argument or the high risks.

Only that it will end up being more expensive than estimated by the GU, I consider quite certain.