Terraced house - Financial framework, land + construction financing

Hello,

so 4 x 130 sqm = 520 sqm living space?

520 sqm x EUR 1,500 = EUR 780,000 (without land)

With a reasonable repayment, a loan will cost you about EUR 500.00 per EUR 100,000.00 loan amount.

Thus, the rate per month is about EUR 3,900.00 (only for the houses, excluding ancillary construction costs and land + acquisition ancillary costs, which also need to be financed).

Desired rate EUR 2,400.00 per month all in - Sorry, that will not work like that...

Hello Doc,

with increasing square meters, the price per square meter decreases; in addition, Berlin - unless it is highly sought-after areas like Lichtenrade or Potsdam - is (still) cheaper than the rest of the country ;)

also 4 x 130 sqm = 520 sqm living space?
520 sqm x EUR 1,500 = EUR 780,000 (excluding land)

520 sqm would rather end up at TEUR 625-650; as always plus - plus - plus ;)

Rhineland greetings

520 sqm would rather end up at TEUR 625-650; as always plus - plus - plus ;)

But even that is too much with that income (if only the 3 borrowers are available). And the plot of land is not included yet.

And aside from that: Have you all (including parents) really thought about whether you want to live next to/above each other for the rest of your lives?

I have a thinking error and a few questions about your calculation.

According to your calculation, I pay off the financing in about 16/17 euros.
Isn't it easier, in our case, to repay less and thus pay in over 30 years?

About my thinking error:
130 sqm per residential house. 4 houses in a row. Since 130 sqm per residential house was given as a lump sum, the house actually only stands on 65-70 sqm of land. Let's assume 70 sqm * 4, that results in a total development area of 280 sqm. If we calculate generously, we round up to 300 sqm.
If 30% of an area may be built upon in Berlin, then the 300 sqm = 30%
1000 sqm = 100%.

We already manage with less area. If we assume a multi-story semi-detached house and only take 2 x 70 sqm per construction area, that is even only 140-150 sqm of development. There are at least 500 sqm of land since 30% development equals 150 sqm. Is the calculation correct so far?

I will continue reading here in the forum, especially the building regulations for Berlin.

Best regards

As far as the interest rates are concerned, you are right, of course you do not have to repay the loan in full within 16 years or so. As already mentioned, you should consider whether you want to build 3 or 4 houses on one plot at all. If one party wants to move elsewhere later, this part/this house is almost unsellable. Apart from that, you have to comply with the local development plan for every construction project. You may find a plot in a location acceptable to you, but whether you are allowed to build your settlement there is not guaranteed.

Good morning,

on the subject of everyone living next to each other:
In our culture, it is not uncommon to live together/next to each other and each party is aware of and agrees to this, which I also find good, because satisfying everyone all the time is not the easiest solution.

Of course, we all also considered whether we want to commit to one house, what if something changes professionally, someone separates, etc.
Is it not possible to simply sublet such a living area? The costs would then be directly included in the financing and rent, especially in Berlin, is getting more and more expensive.
Of course, the person who moves out would also have to pay rent elsewhere.

Example: Person A and B live in one of the houses and contribute a total of 700 euros (excluding additional costs) to the financing.
If they now move out, they pay for the rented apartment for example 700 euros warm.
Through renting out the house we take for example 9 euros/sqm. For 130 sqm that would be 1170 euros.

1170 euros cold rental of the house - 700 euros warm rented apartment leaves 470 euros left for financing. 230 euros would still need to be spent on financing. Since the new apartment only costs 700 warm and there would still be other additional costs together in the house next door to the 700 euro financing, electricity, heating, garbage collection etc., which are already included in the rented apartment, I calculate here a loss of about +-0 as a flat rate or is this calculation too far-fetched and unrealistic?

I also did not understand why part of the house should be almost unsellable?
Okay, the house does not belong to us but to the bank, but a sublet would be possible, right?

Best regards from Berlin