New construction and financing - now or in 2 years or never?

2024-11-14 13:09:22

Have I forgotten anything regarding the costs?

Additional construction costs. But the land you have calculated correctly. Then you can also calculate for yourself what the "palace" with 160 sqm will cost per month. Calculate 600k loan and therefore somewhere around €2,500 monthly rate. With additional costs, you will then have a "warm rent" of €2,800. Could and would you pay that? Mathematically still conceivable for a bank. But for me personally, it would be too much, just to have a "representative" house. Why 160 sqm? What room plan do you have that it has to be such a large house? Or is it simply a "want to have" with 70 sqm living space, dressing room + two bathrooms and a ballroom as a bedroom?

2024-11-14 13:28:27

These are exactly the comments I wish for. So that our eyes can be opened as well.

We are still at the very beginning and in the early stages, looking right and left to see what might be possible. Then the visit to the independent architect should follow once we can distinguish between nice to have and must have.

I wouldn't have thought that the 160 sqm would be seen directly as a palace – but we should also think about that.

2024-11-14 13:39:36

So that our eyes are also opened.

But I did write it here.
Please just let go of the 160 sqm with double garage and all that jazz.
And even with a house, you have additional living costs that don’t only include electricity but also all the other expenses like garbage, etc.

But that doesn’t add up when looked at with common sense!

There are also additional construction costs of 30-50 thousand on top, then the paving of the terrace and the driveway. Are you estimating a garage at €50,000? That might be realistic for a masonry double garage with all the bells and whistles, but I would lower the expectations a bit and plan for a simple concrete garage in this situation. Or leave it out altogether for now and wait to see where the family planning takes you.
In recent weeks and months, there has been more and more discussion about whether 160 sqm is necessary for 4 people and why a family can also be happy in a 109 sqm semi-detached house. There are also livable square meters in between.

For me, the child wish and the intended mini part-time job would be too risky, and I would approach it a bit more realistically.

2024-11-14 13:46:20

The part about my wife's part-time job is definitely realistic and has already happened more than once within our circle of acquaintances. Working 10 hours from home should be doable and she wants it that way.

The garage simply dropping out in the first step could also be a way for us.

I realize this will be a rocky path for us. Initially, it was about seeing what is realistically possible with our equity and conditions.

Looking forward to more experienced opinions - just as direct as before.

2024-11-14 13:48:48

The part about my wife's working hours is quite realistic

Yes, of course. But then, conversely, you also have to live with less salary coming in, from which you can pay for your standard of living. Wanting and being able to are two different things.

2024-11-14 14:47:44

I think we should also scale back our standard a bit – especially now that this big decision is ahead. We have had a great time so far and I think we will continue to have it. The only thing that might be more exhausting from my point of view is the time during [Elternzeit]. But that is also limited.

New construction and financing - now or in 2 years or never?

nordanney

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NoobImBau

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