Our Construction Project - Our Financial Situation

I hope I have understood what you mean ...

Two-story with ZD will not be more expensive than two-story with gable roof; rather about TEUR 5/6 cheaper. In earthquake zone II not every brick can be used, so I assume the porous bricks (I do not know the provider and am not aware of their materials). Further additional costs related to the earthquake zone can only be reasonably named after calculating the statics following the soil survey.

For KfW 55, the porous bricks must be filled, the insulation increased, and usually a controlled ventilation system installed. For this type of house, that's easily TEUR 18-20 on top.

Was that what you meant?

That fits about right. You had taken a KfW 70 gable roof house in your calculation and already wrote that he wants to build with KfW55. Since higher costs are known to arise with KfW55 than with KfW70, I meant that this point should be included again in your calculation.

it’s done --> 18-20 TEUR more

All is good .

What you had was an initial consultation to find out whether the bank would generally be willing to grant a loan.

There were a few questions such as salary, expenses, special payments, property, house costs, equity, desired term/payment, etc...

Someone who does this regularly quickly figures out whether it is basically feasible or not.

If you eventually want to have the loan contract, you will receive a list of documents to be submitted. This is then used for a "Tiefengeprüft" (more or less in-depth) check to see if the assumptions are really as planned initially.

And then you will receive the loan contract along with any conditions to be fulfilled before the loan payout.

Thank you all for the lively discussion on our topic! With our budget, we should be on the safe side, as we partly overestimated a bit (apparently with the ancillary building costs, the garage could also be cheaper (it is supposed to be a [Fertiggarage], whose advantages I find convincing, especially the lower space loss)). But better this way than the other.

Thanks for the background info, toxicmolotow. That was exactly how it was in the discussions. Sorry for my ignorance here, I didn’t mean to step on anyone’s toes in the banking or insurance sector with the criticism. Now I’m wiser.

That reads quite well: buffers here and buffers there... that can also cover the higher living costs. For your list: building insurance, higher household insurance, and people always forget to include possible medications and gifts. I would always budget 50 Eur each - if you don't need it, then just put it in the account for the vacation or the savings book for the child. But then that's 600 instead of 350 in the long term - that doesn't matter at all.

What if you don't have a train station nearby later? Not a big deal either, I think, but just plan for it.

Otherwise: great high equity, no need to be afraid.

Hello ypg, thanks for the tip about gifts etc. A train station / tram stop within walking distance, from where I can get to work without changing as before, was one of the conditions when looking for the property. Other areas are not relevant to me, as I do not want to drive into the city by car - we have no company parking and the traffic jam... Without changing also because of the dog, whom I take to the office several times a week.

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Hello ypg, thanks for the tip about gifts etc. A train station / tram stop within walking distance, from where I can get to work as before without changing trains, was one of the conditions when looking for the property. Other areas are not relevant to me because I don’t want to drive into the city by car – we don’t have a company parking spot and the traffic jam... Also no changes because of the dog, whom I take to the office several times a week.

Monthly public transport ticket from the employer, free groceries, dog allowed in the office...

where do you work?!