New construction alongside an existing old property

Hello,

probably the easiest thing here is to conclude a short-term loan. Fixed for 1-3 years to also take the "pressure" off having to sell.

It would also have the advantage that you would be cheaper compared to a bridge loan.

Alternatively, you could also do a collateral swap for the 70k. However, even then you would first have to sell and then build.

Have you already spoken with your current bank? Normally, local banks are more flexible.

You want to go to the Baltic Sea in the S-H area? Write to . He built a bungalow with a local provider. Also relatively inexpensive without all the "must-haves" of the glossy magazines.

About the construction company. If near Fehmarn, then Specht Bisdorf. No website, only phone. Otherwise Team massiv or eco nms. If wood is an option, Fjordborg or Quisdorf, Fehmarn. The best would be a temporary apartment for rent. Or negotiate right of residence upon sale, which of course costs something. K.

Desired building plot approx. 80000
New build approx. 170000 according to developer's description

I generally add 20 or 30% as additional building costs.

35000-400000€.
Since you have already built yourself, you know that a carport, garden layout, terrace design, and earthworks as well as extras cost something and have to be paid for, even with 120sqm.
The 170000 become 200000 due to special features
Additional building costs 30000
Completion to ready-to-move-in 20000 without appliances
Garden design 35000 without appliances
The 80000 become 90000 including incidental purchase costs

Existing property approx. 255000 value

Where does this estimated value actually come from?