Two young couples are considering building, but they hardly have any idea yet

  • Erstellt am 2012-01-19 18:48:38

Bauexperte

2012-01-23 22:58:12
  • #1
Hello,

I still think that is the wrong approach; what good is a nice plot if you don’t know whether you can finance it, let alone realize/pay/build your idea of "your" house on it ... whatever.

As for the financer, have your conversation first and then see what happens

Kind regards
 

Micha&Dany

2012-01-24 05:38:10
  • #2


Hello Bauexperte

Counter-question: What use is planning your dream house if you can't find a plot on which you are allowed to build it according to the development plan?

You only know whether you can afford the plot and the house once you have a plot in sight. What is the price per m²? What am I allowed/must build on it?

Our "dream house" would have been about 50,000 euros cheaper than the house we are building now (which we have to build on the plot). What use is financing for a house that I am not allowed to build?

But now the question arises again: do I prefer to compromise on the location of the plot and build, for example, right next to the highway, or do I compromise on the house and live peacefully and can let my children play outside safely? Everyone simply has to decide that for themselves!

Therefore, my approach is:
(1) Find a plot and ask what it costs
(2) Get non-binding offers for the house that can be built there according to the development plan (it won't be the dream house)
(3) Ask the bank if I can afford the whole package

Best regards
Micha
 

Bauexperte

2012-01-24 11:07:27
  • #3
Hello Micha,


It's primarily not about dream houses or dream plots; first and foremost the financing must be secured! Only when you know how much money you can invest, can you freely decide how much money you want to spend. Only then comes the story of the dream house/plot and balancing personal preferences; building is not just sweet self-impoverishment, but always means making compromises.


No, you have to stretch according to your "ceiling," meaning, when you know how much money you have available, you can start looking for a plot and house.


I think we are talking past each other. When I talk about financing security, I don't mean that you should take out financing for a castle in the air, but that you should clarify in advance where your max pain threshold in financing lies; what the bank will actually give you in your specific case. When you know this exactly – for which basically only a 2.5-hour conversation is needed – you can start your search within your possibilities.


Yep, I already wrote that building means making compromises.


Nope, first 3 – ask the bank what you can max afford, then decide what you want to afford and then 1 and subsequently 2. This approach will also spare you disappointments; what if your appetite is bigger than your stomach can handle?

Best regards
 

Micha&Dany

2012-01-24 18:01:05
  • #4
Hi again!



We are absolutely in agreement there



Could be *g*




Yes, okay - I automatically assumed that point - that I at least know the financial framework within which I can operate.



Okay - first (3), then (1), then (2), and finally bindingly (3) again.

Best regards Micha
 

racmarsl

2012-01-24 19:10:44
  • #5
You two are pretty hardworking here

So, I just want to set things straight regarding the property and stuff.

I already understood that. I didn’t want to search for the property first and then ask the bank if my finances allow it. Either way, I would have asked the bank first what I am allowed to do or what we are allowed to do and then I would have gone hunting ^^

But basically, for us, the location is more decisive than the house that is going to stand there. Of course, it should be nice and not a shack just because the location fits, but even with the "not dream house", you can achieve a lot with nice floor plans, appropriate interior design, etc. to have it very very nice in the long run. Hopefully, you will agree with me on that *gg*

May I come back to my question from the last post regarding monthly costs/insurances etc.? It somehow got lost in all the writing.

I wish you both a nice evening again!!
 

Bauexperte

2012-01-24 19:53:46
  • #6
Hello,


You are so right


Annual property tax assessment (property tax, waste disposal, stormwater and street cleaning - depends on how solvent your municipality is) - I pay €180.00 each quarter
Bi-monthly gas/electricity/water - depends on how the house is built, how often you shower, etc.
Insurance - depending on the insurance company - €300.00 - €500.00/year
Chimney sweep - only for gas or fireplace - €90.00/year
Telephone - depending on the contract
Cable - depending on the provider
Reserve fund for repairs - depending on preference

Kind regards
 

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