Where to start?

Hi

I am new here in the forum. We are thinking about building a house, but we are not really sure where to start.

For example, how do you find a reasonable financial framework? What do you have to consider?

We are grateful for all tips and advice! :-)

Thank you for the detailed response. How do I get a rough idea of the appropriate financial framework? Are there any rules of thumb? Is, for example, the financing duration common?

Can it be derived from the monthly income? I understand that this does not lead to an exact figure, but first of all, I would be able to determine what a realistic framework is. Thank you in advance.

Our prefabricated house with approximately 140 sqm (net) will cost about 250,000 with some extras ([Schwedenofen], and [Lüftungsanlage] and an extra bay window) and [Kfw55 Standard]. However, this is without a basement and the outdoor area is probably not included yet. You won't get it for under 200,000, even if it is the smallest version of a prefabricated house. There are providers who advertise turnkey houses at much lower prices, but I would take a close look three times. The loan will be financed with high additional equity at about €900 per month over 20 years with a fixed interest rate of 3.5%. Including incidental costs for the house, it will cost about €1200 per month. However, this is with an initial repayment rate of 1%. This should be increased after no more than 5 years, or there should be annual additional repayments of €10,000, otherwise an expensive follow-up financing will threaten after the 20 years.

Good evening,

How do I get a rough idea of which financial framework fits?

Only by having financing discussions - every financing is unique in its own way and tailored to the needs and income conditions of the individual; of course, the share of equity is also crucial for the interest rate.

Kind regards