Massive house costs KFW 70 - Prefabricated house

Yes, that would probably be the best, just pay 100 euros a month until everything is paid off...... otherwise it doesn't make any sense :-(

40% of income can be used for the loan:
1600-1700 euros monthly.

If I give up the land, then also the eligible equity, because I won't get the land amount paid out then. What is better then? To build a normal house with 320,000 euros and 120% financing?

If I say goodbye to the property, then also to the accountable equity capital, because I will not get the property amount paid out.

but you don’t get that now either... that’s the problem... you have to pay out the aunt and for your parents you would have to build a granny flat where you also have additional costs of 30-40,000...

you then have half the property as equity capital for the bank, but you need correspondingly more money financed by the bank...

whether you say you have 50,000 equity and need 360,000 or you say you have nothing and need 310,000 almost comes to the same...

you simply don’t have equity capital... at best an interest-free loan from your parents in the form of half the property... and that is exactly the problem that the property itself is “too expensive” for you...

an interest-free loan from your parents of 30,000 would benefit you more... then you could look for a cheaper property, possibly build there without a basement and finance the incidental costs with the 30,000...

40% of income can be used for the loan:
How high may our monthly burden be? - Construction financing forum
1600-1700 Eur monthly.

that is a rough estimate and 40% was the limit there... that means as soon as you have children or something else happens, the 40% can no longer be maintained... it also makes a difference whether I pay a loan with 3% repayment with 40% of my income or whether I pay a loan with 1% repayment with it... it’s not only about whether you can manage it... yes, you probably can! if you restrict yourselves very much for your whole life and put all money into the house and accept thus that you don’t build up any wealth in retirement, but instead have financed the bank’s golden faucets...

I roughly calculated for you on the page before how big the difference can be in 25 years...

this is a rough estimate and the limit was at 40% there... meaning as soon as you have children or something else happens, the 40% can no longer be maintained... it also makes a difference whether I pay a loan with 3% repayment with 40% of my income or if I service a loan with 1% repayment with it... it's not just about whether you can manage it... yes, you probably can! if you restrict yourself a lot your whole life and put all your money into the house and accept having no assets built up by retirement age, but having financed the bank’s golden faucets...

I roughly calculated for you on the previous page how big the difference can be in 25 years...

Yes, of course, but I also assume that we will earn more in the future. That means we can make special repayments. At some point, we will also inherit something and we can somehow use that too. That’s why I should be able to reduce the loan amount much faster later. And I can also increase the repayment rate later on..... it would just be calculated badly at the beginning then....

Hello,

you can also advise me here, so others can benefit too?

I am already doing that; within reasonable limits, or why do you think I invest a lot of time - voluntarily and for free - on HBF? However, I can only respond to a limited extent - a good advisory conversation can never replace that, as naturally one question arises from the previous answer. Accordingly, all help here should only be seen as rudimentary, merely as a starting basis for the personal conversation with the respective construction participants.

You seem resistant to learning in that you absolutely refuse to see that your project is one size too big for you. As "Der Da" has rightly pointed out, even our partner in terms of financing would advise against your project. In addition, you can only claim KfW funds for the house as a whole and not additionally for the condominium - the legislator has put a stop to such tricky mental games.

I see it that way: you will spectacularly "go down" if you persist unchanged in your project and thus contradict all experienced or well-meaning advice. Your life - your decision ;)

Best regards

What actually happens if I have the house built by an architect? Will the house then be cheaper than from the general contractor or prefab house provider? Can one roughly say that in advance before hiring an architect and he determines the costs, or does it make no difference?

Probably more expensive... It always depends on what you want to build. You don’t need to plan under 250,000..