Is financing a new single-family house feasible?

Hello, regarding the topic „[Garage weglassen und später bauen]“… How realistic is that? In three years the garage won’t be any cheaper. Right now you already have excavators/cranes/tradespeople on site. If everything is dismantled, the garage will cost you extra in three years to set up the construction site again. On top of that, can you save the „saved“ costs including inflation, property transfer tax, and building material prices in three years? Especially since during the construction phase you always need a storage place for tools, equipment, inventory, etc. We were also at the point of saying we „save“ the garage and build it later. However, that only makes sense if an inheritance is coming in the foreseeable future or if you otherwise manage to raise the sum during that time. Waiting doesn’t make it any cheaper, though. I would build it right away if there is actually a need.

Good morning,

unfortunately, the times when you could build with your income are over. That would be too tight for me. If there is no salary increase, forget it and enjoy what you have. For many partnerships, it is a bad feeling to suddenly have to watch every euro and price increases lead to stress.

Regards

About the garage: It is unnecessary luxury, leave it out. If needed, build yourselves a double carport and that's it. Alternatively, I once read that in a spectacular experiment it was found that vehicles can even stand outside without getting damaged. But the garage industry made the results of this study disappear... If you absolutely want to build, save yourselves all luxury and that's it...

Hello, regarding the topic "omitting the garage and building it later"... How realistic is that? In three years, the garage will not be cheaper. Right now, you already have excavators/cranes/tradesmen on site. If everything is taken down, the garage will cost you extra in three years just to set up the construction site again. Moreover, can you save the "saved" costs including inflation, property transfer tax, and building material prices in three years? Especially since you always need a storage place for tools, equipment, and stock during the construction phase.

We were also at the point of saying we would "save" the garage and build it later. However, this only makes sense if an inheritance comes in the foreseeable future or you otherwise manage to gather the amount during this time. Waiting will not make it cheaper.

I would build it right away if the need actually exists.

You misunderstood me. My opinion is that they cannot afford the garage and are rushing into misery. You can live without a garage. I would prefer that rather than not being able to go on vacation anymore and always being financially stretched to the limit.

If we are wrong and it turns out that everything goes smoothly, then you can always build a garage later.

But I know myself that it is a narrow path. We were also advised to move the garage to the back. We didn't do it and are glad about it. However, we did not have a price increase, but a 3% VAT gift. In addition, more financial support from the family than we had previously counted on. There are also salary increases that could not be planned 100%.

Furthermore, the bank already recommended a 10% buffer for the loan two years ago. I see no buffer here, especially with the current increases.

I no longer see it with you. The interest rate jumps kicked you out, it used to be tight, now it's impossible. There is btw no KFW 55 funding anymore. Save, have your child, and go searching for existing properties with more equity.

I am afraid that you will be quite frustrated after the bank appointments. However, I would advise you regardless not to underestimate the costs for a baby/child. That will permanently burden you beyond the 219 euros in [Kindergeld].