Is house construction feasible within the financial means?

Hello everyone!

My wife and I would finally like to have our own home... The appointment for staking out with the bank has already taken place. We have no equity, longer story, former entrepreneur, company insolvency, etc...

So, the bank would offer us 120% financing. As a total amount, they would pay between 250,000 and 275,000€.

We would like to build rather than buy (who wouldn’t want that...)

Here are our ideas: living area: 125-150 sqm, plot: 250-400 sqm, preferably without slopes (hip roof, shed roof or flat roof), no basement, heat pump would also be nice..., location: near Bremen.

What do you think? Is that feasible, possibly as a prefabricated house, or something like that?

Best regards Andre

How are property prices over there with you??? Then take a look at what you get for how much money, take the property price, add 5% and subtract the whole from 250000. Then take about 30000 more and subtract that. That’s what you have left for the house! It won’t be a prefabricated house anymore, believe me; also no hip or shed roof... and no 150 sqm. Inform yourself in the forum!

No, not feasible.

And I don’t know who keeps saying this: prefabricated houses are not cheaper than houses built with solid construction.
Maybe cardboard houses, but not good prefabricated houses.

wow, 120% and that after an insolvency. Are you sure the bank will really go along with that? I honestly can't imagine it. Especially in structurally weak regions.

What catch do you have? Variable interest rate? Short term?

wow, 120% and that after an insolvency. Are you sure the bank will really go along with that? I just can't imagine it, especially in structurally weak regions.

What catch do you have? Variable interest rate? Short term?

Why? Where is the problem :confused: 250,000 could be financed, but that is just enough for a condominium.... unfortunately, that's how it is!

Slowly does it. First of all, it depends on how much the plots cost where you are. And then WHERE you build. I don't know what the prices are like in the [Region Bremen], but for 275,000 you can definitely get a decent house in [Südwest-Niedersachsen]! Here, prices are sometimes noticeably lower than in other regions of Germany.