What loan amount is realistic for house construction?

2019-07-26 18:55:00

Why? Yes, 15 years is exaggerated, it can also work in 10 years, maybe even in 5..

2019-07-26 19:17:31

But these are all answers that the OP does not want to hear... Shame on you

2019-07-26 20:00:01

In 5 years, prices rise more than what one has saved in that time. If I think about our house, it is now worth twice as much according to the bank (+ safety margins) and that was over 7 years. So I could not have saved 140k in 7 years. Not even in 15 years alongside the (cold) rent, which was as high as our initial loan installment. So it was definitely the right decision back then. Just within a much lower price range in the existing stock. I guess the OP now has a consultation appointment and will have it calculated. Then one can also discuss the "only one borrower" there and some amount will come out at the end that is financeable. And then the next step can be considered (enough for the construction, for the existing property, or just for the condominium). Everything else is speculation anyway.

2019-07-26 20:51:32

Guessing with a crystal ball, it doesn't have to continue like this, but it can,

2019-07-26 21:34:43

In 5 years, prices will rise more than what has been saved during that time.

Then the income for a single-family house is simply too low... there are also condominiums, existing properties, or rental apartments.

2019-07-26 21:45:16

In 5 years, prices will rise more than you have saved during that time. If I think about our house, it is now worth twice as much according to the bank (+ safety margins) and that was over 7 years. So I couldn’t have saved 140k in 7 years. Not even in 15 years alongside the (cold) rent, which was just as high as our initial loan installment. So back then it was definitely the right decision. Just within a much smaller price range in existing properties.
I guess the OP now has a consultation appointment and will have them calculate it. Then you can also discuss the “only one borrower” issue and some amount will come out that is affordable. And then you can consider the next step (whether it’s enough for building, for existing properties, or just for a condo). Everything else is speculation anyway.

Typical error in thinking. It is possible that in 5 years houses and new builds will cost significantly less. That is pure speculation based on the past.

What loan amount is realistic for house construction?

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