Is the basis for home financing provided?

Hello klutz, it was similar for me, but I am much older. My advice from personal experience: 1. Stay there a bit longer and save more money. Or are there major reasons for an early return? 2. Buy a plot of land if it makes sense and you can get one. That can be done with 2 or 3 visits to DE. 3. Only start construction when you are back in DE. Our general contractor promised me he will take care of everything too. Quote: "You just have to pack your bags and move in." All lies, they simply can’t do that here in DE. Maybe in CH, but there at twice the price :-) Here (maybe only currently because of the boom) something is rushed and botched. Afterwards it’s tedious and annoying. 4. If you start building a few years later, you will also have more money. Nothing is more relaxing than building entirely with your own money. You don’t have to beg anywhere, prove anything to anyone, calculate, or financially expose yourself to complete strangers etc. When you then move in, everything is yours, an unbelievably good feeling. Priceless.

Hello,

thank you for the previous answers.

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I want to start building only once I am back in Germany. Before that, I have no time for such a large project due to professional reasons.
An existing property is of course also an option. Provided it is not from 1800 and the conversion/renovation doesn’t become an endless story; the movie was good but I don’t need that drama in my life.
As I said, there is a lot in the family that we can certainly implement ourselves.

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No, there is no plot yet, I am still flexible regarding the area.
The building savings contracts are on top of the existing equity.
Since I am limited annually regarding the building savings rate, these will only be available in later years. Although the building savings contract with a maturity of 45,000 Euros fully pays for itself through Riester subsidies.
That’s why I mentioned it separately, also to show that I could make special repayments with it.
I would hardly want to finance beyond retirement age, especially since banks often don’t want that either.
If the remaining debt at retirement really is manageable, I would accept that.
You have here 240-280k plus additional construction costs and land. I just checked briefly and the land costs in the area would be between 70-130k Euros.
That means in the worst case a total of 500k Euros. That’s quite a figure.
If I deduct equity and special repayments, 330k plus interest remain, which I would have to repay over 20 years without even considering the interest. Maybe I am factoring in the additional construction costs too high, but I keep reading that often far too little buffer is planned in this area.

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I also want to live on the side and not just have to look 100% at the house financing.
However, that does not mean I have to go out with friends 6 times a week. Still, there is an item in my household budget: approved for waste.
If I go out, I don’t want to have to check whether I can afford another glass of wine or not.

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If I stay abroad longer, I’m worried about adapting too much to the working style there. I don’t want that in the end, because I work too much according to German virtues (punctual, accurate, reliable, …).
If the professional option arises for 1-2 years in another (more Western) country, I would of course be open to this challenge. It would also change the basic conditions for the topic of homeownership at a later point.
Of course, I could buy a plot during one of my next visits to Germany. However, this would restrict me regarding future employers. Because of my age I should consider 1-2 (3?) changes. That requires options for potential new employers in the area.
I should also consider what will happen with my parents, who are also getting older. From the current employer, I can’t just drive 200 km in the evening because something isn’t right. That’s why I mentioned Southern Hesse as the area restriction here.
I would also limit myself insofar as I would deprive myself of the option of an existing property. Even if you can consider a plot as an investment, de facto I then miss this capital for the home itself.
Your 4th point is of course the absolute dream scenario, but in my case definitely not feasible. Unfortunately, I will have to rely on financing assistance.

It is certainly manageable with the equity and special repayments. Is there a reason why you want to finance for "only" 20 years? You probably won't be retired by then, right?

Otherwise, if I were you, I would also consider whether it is certain that you will always live alone in the house or if you might need an additional room at some point.

In the end, it will probably be 25 years, but here you also have to plan for unforeseen events, set aside new reserves, etc. I don't want to work just to pay for the house, but also to live a little. Just because I mentioned a time frame here doesn't mean you should get fixated on it. As I mentioned in my initial post, I have a financing plan from my house bank and wanted to get an independent opinion on my situation here. With the house bank, I would easily get 300k with a 15-year term at the rate I planned. Sondertilgungen are not included in this financing plan. So I still see room for improvement here if I think about financing over 20 or 25 years. The additional room thing, I've heard it several times now and I exclude it unless I find an existing property with the corresponding number of rooms. If someone should enter my life, we'll just have to arrange ourselves with the existing premises.