Realistic or daydream? (Buying property without equity)

hi. i would also build/buy and not keep saving forever. you are already well secured just by your wife's job. people just keep postponing it forever. there have been quite a few questions here in the forum from people who had significantly higher incomes and in the end it was also concluded that it was not enough. if you don't want to build pretentiously and excessively, it's manageable. i am in a similar situation. i earn normally and my girlfriend works in a higher position. we had zero equity and still decided to go for it. if she gets pregnant now and earns less, then i will just work more, that's how it will be until she can work again.

Hi,

We built three years ago and were faced with the same question as you right at the beginning... Maybe our approach can help you as a small decision aid: In 2011 we decided to build and the first step was – with zero equity – to set up a standing order that from now on transferred a fictitious installment to our savings account every month. Every first of the month. Do the same today and from now on every month – put away 1300 euros. It’s a good exercise for later when you’ll have to pay it anyway...
This puts you in a super "cool" position with every seller: because with each month the budget – and thus the house you can afford – grows by at least 1300 euros bigger, nicer, more luxurious... A great feeling – and due to the steadily improving equity/loan ratio ==> lower interest rates – and salary increases the budget grows even more significantly. Time is on your side!
Then you look around and inform yourself – and every, really every 95% offer you reject with a smile. Just like every offer where the seller pressures you... If he says: "But you have to sign today, otherwise...", you respond smiling "...OK, then the next one will get it! We have time, next month we can afford a better house :-P"... It’s fun – especially because of the seller’s facial expression! And if the 100% – made just for you – house comes along, strike, because purely financially, something is surely possible even in your current situation.

Another – very pragmatic reason – to wait some more – at least when building new or buying with a major renovation project: You haven’t built yet and therefore can’t know or plan all the costs that will come your way. But you need that to calculate the loan amount correctly. If that’s not right from the start, you have to go back to the bank for every little extra... And that happens fast...
Building description not read correctly and turned a 2 square meter tile backsplash on the wall into a half-high tiled bathroom all around: 3000 euros;
Forgot the bill from the land registry office... uh district court.. 800 euros;
Central ventilation system: hard to retrofit... hmm, then just make it part of it: 10000 euros...
Every trade knows perfectly well how to squeeze extra money out of you with the words "you only build once."
If you don’t have that as equity, you run to the bank or give up; the first is unpleasant, the second makes you unhappy… Because then you know what your house could have had, if you had just had some hidden equity...
If you have 20000 euros equity left (only one year of saving), you can also say with a smile: "What’s money? Of course, we’ll do that." And if you don’t spend the money otherwise, buy great furniture with it...

So in summary: maybe you really get the money now and can get started, but it’s better and more fun to take your time... And who knows where the path will lead in the end... We ended up building with the construction company we contacted very first on the very first evening via mail.... After one and a half years without an answer to our mail and talks, reservations, and completed contracts with 5 other companies on at least 10 plots... And we never regretted it... So take your time, go easy, and let the money work for you... Good opportunities always come around... today, tomorrow, in 2 years...

Best regards

Exactly like that and no other way

There is really constantly something new.. that costs money. We are already quite far (screed in) and still the house gets more expensive week by week. Example: Today 2000 EUR just for that.. the Bora motor hanging outside on the house wall instead of under the kitchen island (upgrade from Classic to Professional). After all, you only build once...

Regards, Steffen

Hi, how does that work? We also ordered a Bora cooking island like that. Does an air duct have to go through the base plate or what?

Best regards

Hi, how does that work? We also ordered a Bora cooking island like that. Does an air duct have to go through the floor slab or what?

Regards

The air duct is necessary anyway, right, or where else should the exhaust air go? But not through the floor slab (that's not done) but in the floor directly on the floor slab under the insulation.

Bora Classic = Motor in the base of the island (approx. 4500..5000 EUR)
Bora Prof. 2.0 = Motor outside the building (2000 EUR more)

We specifically ordered the circulation air version, but I think we are off-topic here by now...