Land available but only a condominium?

  • Erstellt am 2023-01-08 19:51:22

hanse987

2023-01-08 21:50:05
  • #1


Does the neighboring building also have a basement? If not, then it will get really complicated.
 

Sunshine387

2023-01-08 21:53:41
  • #2
The housing market is currently just as tense as for single-family homes. Sellers are still not budging from their 2021 prices and do not understand that current prices are about 20% too high. Also, if you buy an apartment that probably costs around 500k in your region, you have gained nothing. Because there you also have the high interest rates, and whether they will go down in a few years is questionable. Then you can never start building your house. If you then decide to sell the apartment, you have wasted €50,000 in ancillary purchase costs. A lot of money for nothing. Therefore, my tip: push through now and lower your expectations. No garage but two gravel parking spaces. No basement but a higher roof with 2m height (30 degrees). (That also looks okay with a hipped roof). Then you have an attic as storage space and, if necessary, a garden house. Unfortunately, more is not possible right now as it is a very expensive time to build. These three options can happen with the same probability.

1.) Buy an apartment (pay 50k ancillary costs) and build when interest rates have decreased
2.) Build a house and lower your expectations
3.) Buy an apartment (pay 50k ancillary costs) and never move into a house because interest rates keep rising, inflation eats up your salary, and you can never build again. Because building in the coming years will remain reserved for the upper class due to expensive energy / even higher interest rates and rising construction costs.

I would choose option 2, because otherwise you might have a plot but never see a house on it. Who says it will get cheaper? I believe it will at most stabilize at a high level. A purchased apartment (at currently overpriced prices, which you might sell for less in a few years) could cost you the dream of building a house. Whether it will ever become cheaper to build, nobody knows. I don't either.
 

Tassimat

2023-01-08 21:58:56
  • #3
Welcome to the forum.


What does that mean specifically? Is the family planning complete so that a constant income can be expected?


€2500 loan + additional costs sounds daunting, but if you earn above average it should still be doable. Inflation will take care of it. Salaries should rise accordingly. It really depends on your lifestyle. A potential inheritance is always very helpful, provided something remains in the worst case with long expensive care. So, first calculate without inheritance.

I wouldn't spend money on an apartment first, but rather build if possible.
 

irmsche

2023-01-08 22:14:28
  • #4


The neighboring building has a basement, and on my property there is also an old building with a basement. The €80k additional costs include the demolition. Every provider says that including the basement is feasible; it is not as expensive as in Neuland where everything has to be excavated. Hip roofs etc. are not possible; it must be a gable roof. Currently planned with a knee wall, but if the building authority says a full story is allowed, it will be a full story.

From that perspective, unfortunately, there is no potential for savings here.

We are also planning for another child. Therefore, €2500 per month is simply unrealistic. Or, if the second child were already here, the subsidy volume at the L-Bank would be higher again. Just a catastrophe right now. Equity is available, both are working, and I see no end in sight currently. The apartment thing was just a thought because we have no children's room in the rental apartment. But if I rent a bigger apartment, I also pay €1100 cold rent. If I find an apartment to buy, e.g., 3 or 3.5 rooms for €320,000–385,000, the monthly repayment would definitely be significantly lower compared to €2500 for the house, just repayment without electricity, water, etc.
 

Sunshine387

2023-01-08 22:25:52
  • #5
Then reduce the living area to 50m2 per level. Boom, 100,000 saved. Be creative!
 

Tassimat

2023-01-08 23:15:21
  • #6
Parental allowance is €1800 + €200 child benefit. That is already 2/3 of the housing costs. Couldn't that be enough? The difficult months are between the end of parental leave and employment, when childcare doesn't work out. But for that, you can use financial reserves. Would you like to give concrete numbers? Otherwise, I stick to my opinion: build anyway. Inflation depreciates the debts quite quickly.
 

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