Would you make this financing?

I never said anything about being priced the same. But in a house from '79, I have to invest, not just a bucket of paint.

No! I bought a terraced house from 1978 in 1999. Everything was in good shape! The stylish fitted kitchen had to be removed due to a knockout wall and was painted and extended with Ikea furniture, the carpet on the ground floor was replaced with tiles. Doors were painted, the bathroom and terrace were done 2 years later. We were in our early and mid-30s and proud of our first own house and the opportunities we had because of a pre-owned property. We could have also afforded a more expensive single-family house, but I always felt uneasy about higher costs. We had comparatively more than the OP back then, even without children.

And even when selling it 3 years ago, the terraced house was still in good shape except for the wooden windows, which I recommended to replace.

No! I bought a townhouse from 1978 in 1999. Everything was in good condition! The fancy fitted kitchen had to make way for a breakthrough and was painted over and extended with Ikea, the carpet on the ground floor was replaced with tiles. Doors were painted, the bathroom and the terrace were done 2 years later. We were in our early and mid-30s and proud of our first own house and the possibilities we had through a second-hand property. We could have afforded a more expensive single-family house, but I always felt uneasy with higher costs. We had comparatively more back then than the OP, even without children.

And even when selling 3 years ago, the townhouse was still in good condition except for the wooden windows, which I advised to replace.

Then you were lucky. We looked at several and each had some defects or simply nothing had ever been repaired.

also here it is always advisable to sneak in an expert.

The advantage with an existing property is that you know what you get when you bring professionals along.

You pay price x and have no nasty surprises. With a new build, a lot can happen

Well, you're not entirely wrong there.
It still doesn't help if you think about it for a day and then it's too late, or the property is simply too expensive.
With the single-family house from 2004 for 265k, you would definitely have to invest a few thousand, with a garden probably around 10k, plus notary fees, etc., and you are easily at 290k for 135m2.
Included would have been the kitchen, which, however, my wife didn’t like....
Then it’s not far from a new build.

Hello everyone,

I’m back and want to address all the comments claiming that it is not possible to build for the prices stated.
We received a complete offer from Town & Country, including the plot, taxes, notary, soil survey, independent TÜV inspections, special house requests like roller shutters, tiles, etc., carport, incidental purchase costs, and almost all additional construction costs (only telephone or similar connections are missing).
The financing amount including sufficient buffer for selection and outdoor facilities is 345,000 euros.
Construction service description and purchase contract all checked -> no pitfalls!

The total amount is absolutely secured by financing amount guarantee, construction time guarantee, construction completion surety, construction warranty surety.

So it is definitely possible!

But now, completely independent from that, here comes the bombshell
The house building story is over!
Two weeks ago, within our family, we have been offered an EGTW, had it appraised and evaluated, and due to your tips/assessments and a much better feeling regarding finances, we have decided to acquire it shortly.

120 m² with large terrace + garden
Price 170,000 €
Year of construction 1980
We will have the bathroom + separate WC completely renovated (approx. 20-25 thousand)
Including our equity, we will need a loan well under 200 thousand euros for this.

Of course, no comparison to a single-family house, especially regarding energy factors and the disadvantage of having neighbors – but as one poster here has already written, “It fits our financial situation.”
We will have enough space for the whole family, a beautiful large terrace, and will have paid off the apartment at a lower rate within max. 25 years.

If the case with the ETW had not come up, we would have built the house contrary to most recommendations based on the information described above!
But now we have a compromise that promises us a worry-free and hopefully still happy future.

I thank you all for the many tips and controversial discussions.

Best regards
Nescool

Whether it is possible, you would have seen at the end.

Whether it is possible, you would have seen in the end.

If that had not been the case, I would have been protected by the described guarantees & sureties and therefore would not have been further interested.