Hello,
I have been planning a new build for two years and unfortunately ended up in a difficult situation. I have a somewhat unusual plot of land (681m² (7333 ft²), but rather long, narrow, and with a 2m (6.6 ft) elevation difference), a budget of 250,000€ (own capital), a girlfriend (children are somewhat planned), and my DIY skills are limited to the basics. At least I have a friend who is an architect.
I based my expectations on the prices for existing properties or prefabricated houses plus 100%. After a lot of back and forth, I currently have a solution for 300,000€, although you generally have to expect an additional 100,000€ in extra costs. So there is a difference of 150,000€ between my expectations and my bank account.
I am considering whether to build a tiny house myself or whether a partial build would make sense. For example, completing just the shell and the main rooms (kitchen bought secondhand, living room, bathroom) and waiting to finish the rest when I can afford it without stress. Or maybe an existing property? The mother of an acquaintance recently passed away.
I have been planning a new build for two years and unfortunately ended up in a difficult situation. I have a somewhat unusual plot of land (681m² (7333 ft²), but rather long, narrow, and with a 2m (6.6 ft) elevation difference), a budget of 250,000€ (own capital), a girlfriend (children are somewhat planned), and my DIY skills are limited to the basics. At least I have a friend who is an architect.
I based my expectations on the prices for existing properties or prefabricated houses plus 100%. After a lot of back and forth, I currently have a solution for 300,000€, although you generally have to expect an additional 100,000€ in extra costs. So there is a difference of 150,000€ between my expectations and my bank account.
I am considering whether to build a tiny house myself or whether a partial build would make sense. For example, completing just the shell and the main rooms (kitchen bought secondhand, living room, bathroom) and waiting to finish the rest when I can afford it without stress. Or maybe an existing property? The mother of an acquaintance recently passed away.
You’re writing a lot incoherently. Please clarify everything.
Is 250,000 really equity? So money you have in the bank? What is your income? Any other liabilities? What does your partner earn? Is the land fully paid off?
What do you mean by a solution for 300,000? Is that an offer from a general contractor?
With 250,000 equity, there should be no problem financing the rest. Have you already been to your house bank or any other bank?
Is 250,000 really equity? So money you have in the bank? What is your income? Any other liabilities? What does your partner earn? Is the land fully paid off?
What do you mean by a solution for 300,000? Is that an offer from a general contractor?
With 250,000 equity, there should be no problem financing the rest. Have you already been to your house bank or any other bank?
Klab2000 schrieb:
Yes, 250,000 in equity in the account.
I have no income.
No liabilities.
My girlfriend has a 450€ job (we are both students).
300,000€ (about 330,000 USD) is the estimated construction cost from the architect, not an offer.
So you have an estimate of 300,000 euros (about 330,000 USD) but prefer to budget 400,000 euros (about 440,000 USD) to be on the safe side. This means you are short 150,000 euros (about 165,000 USD) for your plan. Now you want to buy only the essentials and move in so you don’t exceed 250,000 euros (about 275,000 USD).
Why don’t you wait until you finish your studies? Why are you against financing? And what exactly is your problem?
How silly. I don’t have enough money, but I don’t want to borrow anything. Sorry, you need to grow up.
Almost no one buys a house outright with money from their checking account. You won’t avoid financing, but without an income, you won’t get any.
The conditions would be perfect after starting your career.
Almost no one buys a house outright with money from their checking account. You won’t avoid financing, but without an income, you won’t get any.
The conditions would be perfect after starting your career.