Dorfkind91
2021-07-20 10:09:55
- #1
Hello everyone!
I, or rather we, come from Central Hesse and currently still live in a 60 sqm apartment rented in our beautiful village of 600 inhabitants. Originally, we had planned to live here until 2024/2025 to save up some equity by then. But as it always happens, things turn out differently than you think. We moved here 3 years ago and feel very comfortable here, have made many friends in the village by now, and definitely want to stay living here. For 2024, it was planned to develop a new residential area with 12 building plots just one street away from us directly by the field, which would have suited us very well. But now everything is going much faster than initially thought, and the building plots have already been developed since June 2021, with planned completion of the development by the end of 2021, and the planned sale of the plots in Q1/Q2 2022.
We actually managed to have our absolute dream plot reserved non-bindingly, and since then, of course, thoughts have been running wild – anyone who has ever been infected with the building fever will know what I mean:
Edge of the field location, last house in the small new street at the cul-de-sac, 795 sqm plot, developed price 100 € / sqm plus extra costs. Now, I have been reading up a bit here the last few days and am wondering whether our "rough planning" is possible in this form.
Personal data:
Depending on the constellation and conditions, my mother would also be willing to be entered as a guarantor in a possible loan contract. My grandfather passed away in 2018 and we inherited his house, which we sold in 2019 for approx. €250,000, of which a fairly large part (approx. 60%) is still left. She would also certainly be willing to contribute some more money toward the house construction (or the land purchase), although she has already helped me a lot with repaying my student loan and I would rather not "ask" for more.
Planned is an approx. 160 sqm solid house with double garage/carport (decision solid house <-> prefabricated house not yet 100% made), depending on the best case without major further changes that would increase the price additionally, hopefully with a basement or at least partial basement (would probably have to depend on the price in the end; the basement is "dispensable"), in the direction of Viebrockhaus Maxime 600/700 for example – incl. KFW55 and KFW grants. By our early 60s, we both would like to be "debt-free," so repayment might well take about 27-30 years.
I hope this is enough information for a "rough assessment" on your part. We would like to buy the plot – if it comes so far and the municipality contacts us – in 2022 and then start building the house in 2023. Realistic? Or more like cloud 7 daydreaming?
If more information is needed, please let me know. Thanks in advance!
Many greetings from a now "house-building-infected" young Hessian! :)
I, or rather we, come from Central Hesse and currently still live in a 60 sqm apartment rented in our beautiful village of 600 inhabitants. Originally, we had planned to live here until 2024/2025 to save up some equity by then. But as it always happens, things turn out differently than you think. We moved here 3 years ago and feel very comfortable here, have made many friends in the village by now, and definitely want to stay living here. For 2024, it was planned to develop a new residential area with 12 building plots just one street away from us directly by the field, which would have suited us very well. But now everything is going much faster than initially thought, and the building plots have already been developed since June 2021, with planned completion of the development by the end of 2021, and the planned sale of the plots in Q1/Q2 2022.
We actually managed to have our absolute dream plot reserved non-bindingly, and since then, of course, thoughts have been running wild – anyone who has ever been infected with the building fever will know what I mean:
Edge of the field location, last house in the small new street at the cul-de-sac, 795 sqm plot, developed price 100 € / sqm plus extra costs. Now, I have been reading up a bit here the last few days and am wondering whether our "rough planning" is possible in this form.
Personal data:
[*
- She: 27 years old, completed master’s degree in 2021, full-time job 39h/week starting August 2021 (preparatory position for civil servant in the higher service – public relations area), initially fixed term for 2 years, further employment according to the job interview "very likely," starting net salary about €2000 plus 13th salary, Christmas bonus & vacation pay
[*]I: 30 years old, completed master's degree in 2017, full-time job 40h/week since December 2017 (Project Management, permanent), currently net approx. €2500 (annual increase without promotion about 8%). From February 2022 already confirmed promotion to Senior Project Manager, net salary then approx. €3000. From 2023, proposed by my supervisor (and unofficially already confirmed if nothing else comes up) team lead Project Management, net salary then approx. €4000.
[*]Currently (still) unmarried, wedding planned presumably 2023/2024.
[*]Currently (still) no children, wish for children exists, but we agree that the house should be built first and then some time should pass -> planned around 2026 (if one can speak of "planning" here)
[*]Total household net income in 2023 thus approx. €5000, rising trend.
Financial situation:
[*]Current equity approx. €10,000. This is the part that worries me a bit, even though you often read that the equity ratio is no longer that important if the household net income fits.
[LIST]
[*]Reason for the low equity ratio: Took out a student loan for the bachelor’s degree (KFW, approx. €45,000) plus Bafög (approx. €10,000). Both loans are – also thanks to my mother’s support – as well as my previous savings, already fully repaid or settled, so not much is left right now. We currently save about €750 per month, sometimes more, sometimes less (planned to save more monthly with her new job starting August). It is important to me to be able to enter such a major project debt-free.
[*]Household budget is maintained, current average joint monthly expenses (excluding cold rent) are about €2,800, which is rather generously calculated and includes everything like groceries, two car leasing contracts, fuel, insurances, pet food, telephone contracts, Netflix, etc.
Depending on the constellation and conditions, my mother would also be willing to be entered as a guarantor in a possible loan contract. My grandfather passed away in 2018 and we inherited his house, which we sold in 2019 for approx. €250,000, of which a fairly large part (approx. 60%) is still left. She would also certainly be willing to contribute some more money toward the house construction (or the land purchase), although she has already helped me a lot with repaying my student loan and I would rather not "ask" for more.
Planned is an approx. 160 sqm solid house with double garage/carport (decision solid house <-> prefabricated house not yet 100% made), depending on the best case without major further changes that would increase the price additionally, hopefully with a basement or at least partial basement (would probably have to depend on the price in the end; the basement is "dispensable"), in the direction of Viebrockhaus Maxime 600/700 for example – incl. KFW55 and KFW grants. By our early 60s, we both would like to be "debt-free," so repayment might well take about 27-30 years.
I hope this is enough information for a "rough assessment" on your part. We would like to buy the plot – if it comes so far and the municipality contacts us – in 2022 and then start building the house in 2023. Realistic? Or more like cloud 7 daydreaming?
If more information is needed, please let me know. Thanks in advance!
Many greetings from a now "house-building-infected" young Hessian! :)