Massive house construction with a basement and a granny flat affordable with 340k financing?

  • Erstellt am 2020-11-22 17:12:11

Schrani

2020-11-22 18:27:30
  • #1
600 rent goes into the repayment, but I am paying that now and would then have it available (because the repayment is made by the tenant). So 1400 would be available for financing + 50€ that I spend less on food/movies. The house will be paid off in 10 years. Selling is not an option.
 

Schrani

2020-11-22 18:40:11
  • #2
Thanks, I suspected that too. Correct, personal work = 0 I like houses, mine is too small (80sqm). I do it for fun.
 

Tassimat

2020-11-22 20:11:03
  • #3

There are certainly many other incidental building costs missing, but they could also be taken from the chunk of 40,000€ for outdoor facilities and garden, and you do that yourself later.



Look closely at what "turnkey" means for you. Typically, at least all painting work and floors are missing. Get that offered directly, but that will add another small five-figure sum on top.

In total: It will be expensive!



That is calculated ultra-tight and won’t work with any unforeseen increase in costs. You won’t have a single euro left afterwards. Seriously?
You already have a full-time job and a side job, you can’t manage more. The only solution would be to sell the current house.
 

Schrani

2020-11-22 20:30:25
  • #4
I will probably save/prepay the 800 for the time being and postpone the house construction by a few years or just build without a basement. Maybe I will put the floor plan up for discussion. Thanks to everyone for now.
 

apokolok

2020-11-23 14:41:06
  • #5
Does the property have any significant value? As currently planned, the project is simply beyond reality; you will never get it financed. Honestly, I believe that being a single parent, the income is generally not enough for a new build. Can't you cash in the property and the old house and buy a suitable existing property with that? There are significantly fewer uncertainties, and the financing is much more 'secure' because there are fewer variables.
 

Altai

2020-11-23 20:56:32
  • #6
My numbers were very similar... financially (income and calculated loan were in a somewhat better ratio), I am also single with two children. Two years ago, I also "dared" and purchased a plot where exterior walls with a roof were already standing. I then completed the house (little own labor, mostly done by companies). I don’t regret it; I do get by without having to turn over every penny. But if I had known how tight it would end up being, I wouldn’t have done it. The completion turned out more expensive than expected, the extra costs ate up the cushion, and an additional financing was necessary. Bam, 200€ more per month gone. Then I couldn’t apply for the Baukindergeld due to a registration formality. Bam, 200€ less income than expected... And so what started as a matter with solid surplus turned into a tight squeeze. I still had some leeway in my working hours, which I then increased. As I said, we manage decently... but with the disposable income after deducting all fixed costs and usual living expenses, I don’t feel really comfortable; it’s too tight for me. The house is small (100 sqm for three people), the plot is small, a basement wouldn’t have been an option anyway... but there was also none under the shell construction. That just worked out in our already expensive small city. Is it possible to extend the existing house? That could be the cheapest solution if only one or two rooms are missing.
 

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