Is the financing plan realistic?

Hello, I have now looked at a show house. Overall it's quite okay, but the location in Pankow is more than questionable. Not included in the price are a shower partition or a brick wall, depending on what you decide on, chimney preparation costs extra, and if you choose laminate or parquet instead of carpet, that also costs extra. Of course, you can also choose different doors, tiles, etc. I can provide more information if interested.

The situation in Pankow is critical? What do you mean by that?

I think the location is more a matter of taste. We were there for about 30 minutes and could see and hear the planes taking off from Tegel Airport every few minutes (well, it will probably close at some point). Blankenburger Straße was quite busy and therefore not very quiet. Directly to the NW of the area are only large industrial halls, to the W of the future residential area there is a large car dealership and other businesses. There wasn’t a proper park in the immediate vicinity either. Basically no "real" residential area, but rather right on the edge of an industrial area, which we personally didn’t like. But it seems like almost any location sells these days. So I would neutrally describe it as a "traffic-convenient" location, a bus also stops right in front of one of the houses in this new construction project. If you have 2 cars and take a plot with only one parking space, you will have trouble parking the second car there. In the planned private street you are not allowed to stop later on and parking is not allowed on Blankenburger Straße. No playground for possibly planned children nearby etc.

I think the location is more a matter of taste. We were there for maybe 30 minutes and could see and hear the airplanes taking off from Tegel Airport every few minutes (well, I guess it will eventually close). Blankenburger Straße was quite busy and therefore not very quiet. Directly to the NW of the area there are only large industrial halls, to the west of the future residential area there is a large car dealership and other businesses. There wasn’t really a park in the immediate vicinity either. Basically no "real" residential area, but rather right on the border to an industrial area, which we personally did not like. But apparently almost every location sells well at the moment. So I would neutrally describe it as a "conveniently located" area, a bus also stops directly in front of one of the houses in this new development. If you have 2 cars and only one parking space on the property, you will also have problems parking the second car there. You are not allowed to stop later on the planned private road and parking is not allowed on Blankenburger Straße. No playground nearby for possibly planned children etc.

Ah. OK. Thanks for the explanations. The eastern end of Blankenburger is indeed not the nicer part. But in the "wider" surroundings I still find it quite nice.

Buffer xxxx euros (unfortunately, you still have to calculate with a buffer if you really want to approach it seriously. If the property developer story is clean, the buffer can be small though.)

Hello everyone,

exactly the topic of buffer is bothering me.
We have an offer for "almost finished", very detailed (50 pages).
Not included are floor coverings, painting work, outdoor facilities.
We have already calculated the surcharge items to give the house the desired equipment. There are also no cost traps like "removal of excavation / scaffolding to be provided by the client". As far as I can think, everything is included in the offer: complete site setup/security including consumables and fees, drainage work, all surveying work, builder’s liability insurance, house connections.

Which classic items remain that usually require a buffer?

If I calculate: price for "almost finished" + money for floor coverings + money for painting work + money for outdoor facilities - equity = external capital requirement. What do I add as a buffer on top? Wouldn’t it be problematic to say: I have calculated this, and to be on the safe side I would like to have another 20,000 or 30,000, dear bank!

In my opinion, the buffer is not for furniture or kitchen, so that is ruled out. Remaining are smaller things like lamps or curtains, but I would rather cover those from equity than include them in the financing, as a buffer or whatever.

So what justifies a buffer that I can’t think of right now?

Thanks and regards

Spontaneous additional equipment during construction + outdoor facilities, which are actually always more expensive than planned.