Is financing possible with my own equity?

Hello Dirk,

don’t stress too much about it, something like this is still possible at our age!

As a guideline, you can expect EUR 500.00 per EUR 100,000.00 loan amount, considering the current interest rate situation and a repayment plan adjusted accordingly.

Therefore, your desired installment of 1,200.00 - 1,300.00 is probably set a bit too low.

However, important for assessing your situation are also some other details like the number of people (possibly the age of the children), income and expense situation, desired level of house expansion, etc...

From personal experience, I also consider your buffer of EUR 15,000.00 somewhat tight. We had special electrical requests amounting to nearly EUR 14,000.00 alone – without excessive luxury or even a BUS system – and our house provider basically already has a very decent basic electrical setup...

Best regards,

Dirk

What are the larger items included in the 14,000€?

But the buffer only comes into play for unforeseen issues - it should not be an increase in electrical work (unless one only superficially looks at the [Leistungsvertrag]). Furthermore, it is unclear whether he is building with a [GU] or with an architect at all.

: The largest item are our LED recessed spotlights in the hallway, both bathrooms, the kitchen, and at the stairs (wall recessed spotlights). They make up about one third of the total - the rest went on additional sockets, the cables for our surround system, some relay circuits for the lighting, as well as a flexible multimedia system.

But the buffer only comes into play for unforeseen things - that should not include additional electrical work (unless one only looks at the power contract superficially).

I wouldn’t see it that way. When you deal with the upcoming decisions after signing the contract, some additional features might still come up that you’d like to have – so it’s definitely nice to have a certain buffer and be able to treat yourself to one or two extras.

But the buffer only comes into play with unforeseen things – that shouldn’t be an increase in electricity (unless you only glance over the power contract).

Oh God, how many offers we received from the craftsmen on the side to do something differently (nicer/higher quality/more practical). To this day, I do not regret listening to the craftsmen and their professional opinion (but I had every recommendation evaluated by the construction manager). Therefore, I also advocate planning as much as possible as a reserve! Unfortunately, our reserve was still not enough, so we had to tap into our budget for the outdoor facilities... :rolleyes: