Is it sensible to take a loan for land or better not?

Hello,

I have a question.

We want to build in 2012/2013. The plot of land is already reserved. Costs: 78,000€.

Is it sensible to take out a loan for the plot of land and then another one for the house, or one joint loan for both? If you take one joint loan right away, I have to repay it within a year. Does that mean I definitely have to build in 2012? Is that correct?

What about equity?

Around 20,000 until today. We want to start building only in May 2012 or 2013

Of course, it also depends on how high the costs for the later construction will be, but since you will also manage to stay under 120,000 to 180,000 euros there, you should try to take out a loan for both projects at the same time. Until then, build up equity - maybe you can come up with another 5,000 euros - that would help a lot...