helen85
2024-12-29 00:56:33
- #1
We bought a plot (semi-detached house) through a municipality. Plot - 400 sqm Purchase price with development - €380K (equity €19K, financing €361K) Building obligation - 3 years The neighbor’s house is already standing. The development plan requires the same profile as the neighbor’s house. A rough price (without basement) from a solid construction company: With 140 sqm living space, about €420K. Plus kitchen, furniture, etc. We would need to finance a total of €600K. Monthly payment is 45-50 percent of our net income. Current monthly expenses: €3K (cold rent €800 included) One child in kindergarten, no other child planned. We both will turn 40. Future salary growth is hard to estimate. I ask for your experiences and tips to estimate the further course of action, whether we should build the house. If not building and returning the plot to the municipality, how much money would we probably lose? Notary, bank interest, property transfer tax, what else? Many thanks to you!