Will construction costs continue to rise?

Good evening☆

Do you suspect that construction costs will continue to rise in the next few years?
If you want to build, should you hurry up or wait another 1-2 years?
Do you also believe in the big real estate bubble in a few years?
How do you assess this?

Best regards
Lisa

Prices will of course continue to rise. This is due to the increasing wages alone. Whether it is therefore justified to hurry up? That is something everyone has to decide for themselves.

I guess the prices will continue to rise precisely because of increasing labor and material costs, as well as ever stricter energy saving regulations and more and more technology and gadgets. In the short term, you might get lucky and there might be a brief dip, but just look at the last 50 years, for example, there has only been one direction in the long run... On the other hand, a lot has been built in recent years, probably also by many people who could hardly afford it or who have to give up their house for various reasons. So it could well be that many nearly new houses will come onto the market in the next few years, which will presumably be significantly cheaper than a new build. The question is whether you can or want to live with the compromise...

If you have the desire to build, should you hurry or wait another 1-2 years?

Very few people will be able to align the timing of building with external circumstances. What is important is that it fits into your own life plan, that you have found the plot, that you have the money. If these key points are given and the desire for a house exists, then I would build. Now. (If necessary, one can optimize some details, for example if at a near deadline property transfer tax, VAT, or energy saving regulation standards are increased.)

Do you suspect that construction costs will continue to rise in the coming years?
If you have the desire to build, should you hurry up or wait another 1-2 years?
Do you also believe in the big real estate bubble in a few years?
How do you assess this?

On the one hand, you compare "now" with a period of "1-2 years." In such a short time, in my layman's opinion, hardly enough will change for the trend in construction costs to reverse.

A real estate bubble in a few years is something different. By "a few" years, I would understand 5 years, rather 10 years...

I see it like Bieber0815: if the circumstances are right, why speculate on something that might or might not happen and postpone the life you aspire to and could live because of it.

We were coincidentally twice lucky with this: purchasing the plot in December 2014, before the real estate transfer tax was raised in NRW in January 2015; submitting the building application at the end of December 2015, before the energy saving ordinance was tightened in January 2016. However, the decisions themselves were not based on that.

It basically stands and falls with finding your plot of land. (wenn die Finanzierung möglich ist natürlich) We knew that we would basically need one in the next few years. So we kept an eye on the property market for fun now and then. And oh wonder! We found our Katsching plot. Result: We started the home-owning project earlier than planned.