Property purchase / financing in the current situation - yes / no?

  • Erstellt am 2022-06-13 10:57:06

Gelbwoschdd

2022-06-13 11:33:20
  • #1
Go ahead and buy the [Grundstück], the risk is manageable. Basically, you already have a good income for your age. Paying off the [Grundstück] definitely builds additional equity.
 

WilderSueden

2022-06-13 11:38:32
  • #2
Very expensive building is sometimes done here in the forum, which is not necessarily representative. I would roughly calculate a total budget of half a million (house, land, kitchen, outdoor facilities). But you can do a lot by not building too complicated or large and also doing some things yourself. Without children it’s much easier than with, and part-time is also great to get things done ;) For the rate, I would expect about €1800, that will be reasonable. That is not little for your net income, but I find it okay for two people. Existing properties I find difficult. You have already noticed the issue with additional costs yourself. Furthermore, many houses for €400k are simply in poor condition and you have to invest a lot again to bring a house from 1970 energetically into the 21st century. Bathrooms, etc., also tend to eat up money. Young used ones are rare and are usually expensive then.
 

fuchsbau22

2022-06-13 11:49:35
  • #3


€1,800 was also our targeted rate, but given the current interest rate situation, I consider that unrealistic. You quickly reach €2,100 and more. Therefore, we hesitate. Regarding personal contribution: we would certainly provide that for the interior finishing but probably can’t factor it into the financing. Both of us have two left hands and unfortunately, we also don’t have a circle of friends with skilled craftsmen. Time is also a significant factor. I work in an area where 100% work for 50-70% pay is not uncommon. A scandal, but it can’t be changed.

Regarding existing properties, my assessment corresponds to yours. That’s why we have so far kept our distance from that option.
 

ypg

2022-06-13 11:50:49
  • #4
I would also buy the plot and slowly start planning. That means: reading up, calculating, draft sketches, and checking out the local GUs to see who is available and how much lead time they offer at what price.
 

Joedreck

2022-06-13 15:58:36
  • #5
I would do it as YPG suggests. Buy, plan calmly, and already make contact. In the meantime, pay off the property as much as possible. So the financing, not the property itself :-)
 

danielohondo

2022-06-13 21:24:41
  • #6
I would also buy it and then start planning right away.

You need a lead time anyway. This can be 1-2 years until the groundbreaking begins. In the meantime, you can pay off the land and save capital. It won't get cheaper, but you can still save up.

We don't have financing secured yet either, but we can still build with up to 3.5% interest.
 

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