Single-family house in 5-6 years.

But one should also consider pitfalls: Today they are more expensive than ever. If there is ever a stop to the construction boom within 5 years, you might be able to get a good bargain. Today you always pay top prices anyway. And remember, a plot of land also comes with a lot of work. Mowing, spreading salt in winter, and shoveling snow. And lastly, a bit of property tax that has to be paid.

Hello

We searched for a suitable plot of land for about 2.5 years. As already mentioned by another user, the most important thing when building a house is the location of the plot!
The second most important thing is the location of the plot.

With the house, equipment, etc., you can make compromises – and change many things even after X years (bathroom fixtures, tiles, heating system, etc.) – but if the location of the plot doesn’t fit, then you will live for the rest of your life (or at least the biggest part of it) in a place where, in the worst case, you don’t feel comfortable at all!

Therefore, I would definitely advise you to start looking for a plot now. Maybe you will find the right one tomorrow, or maybe only in 5 years. Who knows?!?

And yes, the plot counts as equity. But at the market value it has at the time of loan approval. That can be more or less than what you paid...

Why do you want to build only in 5 years?
At the moment, a builder has the problem that because of the low interest rates everyone wants to build – the craftsmen have full order books and prices are rising. In return, the interest rates are favorable. In a few years, interest rates will probably be higher – fewer people will build – prices will probably fall again (my opinion). So whether it’s better to build now or in a few years – who can estimate that!?

For plots that your city or municipality sells, it is often the case that you are obliged to build within 2 years (this was a requirement for us) – after all, the building gap or new development area should be completed promptly to create a nice cityscape.
For plots bought from private sellers, such requirements usually do not exist.

So my advice is: start looking for a plot now – and when you eventually find one, you will know the conditions before signing – and then you can still decide whether the conditions are acceptable for you at that time or not.

Best regards
Micha ;-)

So we first dealt with the plot of land. Everything else depends on that. Development plan, location, neighbors, etc. You can almost always change anything later with your single-family house. But never the location of your plot. For us, it was also certain that we wanted to stay in our home municipality... Buying a plot there wasn’t easy at all. Prices have been rising sharply all the time (due to the extreme economic strength of the region). And since we’re renting, I didn’t want to delay the topic of "building a house" any longer.... Euro crisis etc. didn’t play a role for us. The low interest rates are of course nice, but we didn’t get worked up about that either. But we gladly took advantage of them.

Is there a reason why you want to wait another 5-6 years to build? Do you rent or live rent-free?

Oh yes, the bank counts your plot as equity. Our house also has 165 sqm of living space with a basement and a single garage. KFW 70 house with underfloor heating. Some higher-quality features (large sliding doors in the living room, Venetian blinds, underfloor heating, pellets, parquet everywhere, etc.) We’re paying about 320,000 EUR for the house. Without kitchen, lamps, furnishings, and especially without exterior facilities. No garage driveway, etc. We estimate about another 30,000 EUR for the exterior facilities. (Natural stone wall, etc.) In short: Plot (100,000 EUR) + House (320,000 EUR) + Kitchen (20,000 EUR) + Exterior facilities (30,000 EUR) = 470,000 EUR. Costs for building application, notary, property transfer tax, house connection, surveying, bank, construction electricity/water, etc. about another 10,000 EUR. I made it simple for myself: costs about 500,000 EUR.

And how much do you then have for principal and interest? Over how many years is the whole thing running?

If you take 500.00 EUR per 100,000.00 EUR loan, you would have 2,500.00 EUR for principal + interest?