We know that financing will not be easy. Otherwise, it would be too simple. The high land prices in Bavaria, especially in the area of university cities, cannot be changed by us, and unfortunately, we cannot influence construction costs either. The fact is that both are rising, and significantly so. Therefore, the question is, does it make sense to wait and "save" even more? Savings interest rates have not existed for a long time. But does that make the situation better? I fear not. If prices rise only 3% annually, that is about €20,000 per year on €650,000. So I have to build up this amount annually just to keep the required loan amount constant. If property prices fall again sometime, financing will become easier. But no one knows if or when that will be. In addition, with each year of waiting, the time for repayment is reduced, and I want to be finished by retirement. We have also considered existing properties. Unfortunately, in my impression, they are completely overpriced for their condition. And there are hardly any building plots without a developer anymore, and if there are, there are at least 500 applicants for 100 parcels. We have thought a lot back and forth. Yes, it is difficult, and that is why we do not take the decision lightly. By the way, the Sparkasse and the financing advisor from Interhyp say that everything looks very solid. We are much more skeptical.
