Real estate financing under difficult conditions

I can understand your qualitative arguments. I don’t see retirement provision in the numbers you mentioned. If you invest well what new costs would come up for you, you will benefit more. And more securely, because you can diversify, while a house is a huge concentration risk. In a house like the one you have in mind, you will put more money and effort into it until retirement than you save on rent. My own experience and that of acquaintances is: children don’t want to inherit an old house that only causes problems when selling it. They prefer to have a fat bank account from which they can directly pay for the funeral and household clearance. Alternatively, so much debt that they can renounce the inheritance without a guilty conscience. What remains is how much these qualitative advantages are really worth to you. Because at 3.90 / m² cold rent, honestly, I’m speechless. If I could live like that in my region, I wouldn’t build now.

Understand the arguments, but do not see the time pressure. You can save money in other ways, and if you can't get construction financing anyway, I would just wait and enjoy the low rent.

Hello, most likely your house bank can help you. Otherwise, I don't see any chance.

Hello

There is no urgency. If it is not possible to get a loan on reasonable terms, then we will continue to live here.
I just thought, since I am now 40 and mathematically still have about 26 years until retirement, one should not wait too long. My wife has about 33 years until retirement age; at the latest by then we want to have paid off a possible mortgage, because I am not expecting a generous pension with my worker's wage...

Yes, the 390€ is (of course) the rent excluding utilities. For 390€ rent including utilities, I probably would never want to move out either.
Additionally, there are about 70€ for gas and 80€ for electricity per month and another good 100€ for water/sewage/garbage etc. (I would have to check exactly on the utility bill).
The rent per sqm is theoretically a bit higher because only 80 sqm are stated in the lease; the hallway and office are not included, for whatever reason. Maybe so the apartment is also suitable for Hartz4. Could be to my advantage.
But that is normal here. According to the rent index, between 4€ (old building in the middle of nowhere in the field, like ours) and 7€ (new building close to the center) per sqm are charged.

Alright, then I will try to get an appointment at my Volksbank. Signing a building savings contract during my compliance phase was no problem there either.
Let’s see what they say.

Thanks already for your help.

Regards Kai

Hello There is no urgency. If it is not possible to get a loan on reasonable terms, then we will keep living here. I just thought, since I am now 40 and theoretically still have about 26 years until retirement, one should not wait too long. My wife still has about 33 years until retirement age; at the latest by then we want to have paid off a possible mortgage, because I do not expect a generous pension with my worker's wage... Yes, the 390€ is (of course) the cold rent. For 390€ warm rent, I probably would never want to move out either. On top of that come about 70€ for gas and 80€ for electricity per month and another good 100€ for water/sewer/garbage etc. (I would have to check the exact amount on the additional costs statement). The rent per sqm is theoretically a bit higher since the contract only states 80 sqm; hallway and office are not included, for whatever reason. Maybe so that the apartment is also suitable for Hartz4. I don’t mind that. But this is normal here. According to the rent index, between 4€ (old building in the middle of nowhere, like ours) and 7€ (new building close to the center) per sqm are charged. Well, then I will try to get an appointment at my Volksbank. Signing a building savings contract during my good conduct phase was no problem there either. Let’s see what they say. Thanks in advance for your help. Best regards Kai

don't want to take away your hope but a savings product always works regardless of how (in)solvent the customer is