Hello everyone,
Since I started exploring the topic of house construction two months ago, I have now registered on this forum.
A brief introduction about me and my wife: We are both employed (civil engineer and real estate assistant) with a net income of 4xxx.
Equity capital: 50,000 euros.
One would actually assume that with this equity and net income, buying a property should be easy. However, since I do not want to repay a loan over 30-35 years but rather a maximum of 25 years, and I don’t want to fully stretch the limit, the monthly installment and therefore the total amount quickly become restricted. A total of 250,000 net plus additional construction costs equivalent to the equity capital would be the limit here. In Berlin and its surrounding area? Practically unthinkable.
I am a civil engineer (although specializing in concrete repair and thus not an expert in single-family houses, etc.) and can therefore assess construction prices, combined with my wife’s interest in the real estate sector, allowing us to understand the high general prices for land.
With 250,000 net plus additional construction costs, there is generally not much you can do nationwide for new builds — this is my initial assessment.
There has already been a lot of discussion here in other threads about construction costs, potential capital, and what is needed. When I see bargain houses on TV, I also facepalm. My assumption is that such homes don’t bring much joy. Heating systems, plumbing, electrical installations, thermal insulation — these are often overestimated.
Currently, I am researching prefabricated houses with self-finishing options. However, I do have some concerns, even though I assume that nowadays the materials at least meet certain standards.
So, what are the options?
Being bound for 30 years and pushing the loan to the limit?
House auctions?
Hoping for a bargain plot including an affordable prefab house as a self-build (lots of work and potentially many worries)
Since I plan to start building within the next 24-36 months, my initial findings are sobering.
At least the construction company I work for could provide the foundation slab plus groundwork like drainage, etc., at a low cost. I also know structural engineers and others involved. Maybe the project can be realized with a “small” budget thanks to these circumstances.
Has anyone managed to do this before?
Since I started exploring the topic of house construction two months ago, I have now registered on this forum.
A brief introduction about me and my wife: We are both employed (civil engineer and real estate assistant) with a net income of 4xxx.
Equity capital: 50,000 euros.
One would actually assume that with this equity and net income, buying a property should be easy. However, since I do not want to repay a loan over 30-35 years but rather a maximum of 25 years, and I don’t want to fully stretch the limit, the monthly installment and therefore the total amount quickly become restricted. A total of 250,000 net plus additional construction costs equivalent to the equity capital would be the limit here. In Berlin and its surrounding area? Practically unthinkable.
I am a civil engineer (although specializing in concrete repair and thus not an expert in single-family houses, etc.) and can therefore assess construction prices, combined with my wife’s interest in the real estate sector, allowing us to understand the high general prices for land.
With 250,000 net plus additional construction costs, there is generally not much you can do nationwide for new builds — this is my initial assessment.
There has already been a lot of discussion here in other threads about construction costs, potential capital, and what is needed. When I see bargain houses on TV, I also facepalm. My assumption is that such homes don’t bring much joy. Heating systems, plumbing, electrical installations, thermal insulation — these are often overestimated.
Currently, I am researching prefabricated houses with self-finishing options. However, I do have some concerns, even though I assume that nowadays the materials at least meet certain standards.
So, what are the options?
Being bound for 30 years and pushing the loan to the limit?
House auctions?
Hoping for a bargain plot including an affordable prefab house as a self-build (lots of work and potentially many worries)
Since I plan to start building within the next 24-36 months, my initial findings are sobering.
At least the construction company I work for could provide the foundation slab plus groundwork like drainage, etc., at a low cost. I also know structural engineers and others involved. Maybe the project can be realized with a “small” budget thanks to these circumstances.
Has anyone managed to do this before?
P
pffreestyler20 Jun 2019 14:17@Farilo So you seriously want to claim that your sentence with "?" is meant to be understood without any judgment on your part? Considering your previous posts, I find that hard to believe.
By the way, you can skip the irony and the assumption of frustration. I neither envy nor begrudge you; I simply don't care. I was only bothered by your statement.
@HilfeHilfe I don’t intend to generalize everyone. Where exactly am I complaining that I can’t consume like you do, or saying that high earners should be ashamed?
I’m just pointing out that the above-mentioned points seem unrealistic if treated as a standard. I’m not saying people shouldn’t do that. Everyone should do as they wish; money won’t help you in the grave. I’m only bothered by the fact that this is seen as the norm. Because for most people, it is not—and I don’t mean the forum participants, but everyone.
By the way, you can skip the irony and the assumption of frustration. I neither envy nor begrudge you; I simply don't care. I was only bothered by your statement.
@HilfeHilfe I don’t intend to generalize everyone. Where exactly am I complaining that I can’t consume like you do, or saying that high earners should be ashamed?
I’m just pointing out that the above-mentioned points seem unrealistic if treated as a standard. I’m not saying people shouldn’t do that. Everyone should do as they wish; money won’t help you in the grave. I’m only bothered by the fact that this is seen as the norm. Because for most people, it is not—and I don’t mean the forum participants, but everyone.
H
HilfeHilfe20 Jun 2019 14:28No, not standard, but there’s no need to be ashamed of it. I come from a working-class family, and yes, sometimes I do feel ashamed about how much money we spend. But what else can I do? Let it sit in the bank account and just pat myself on the back?
P
pffreestyler20 Jun 2019 14:43You see, we both talked past each other or misunderstood. I never meant to say that it is not allowed to do it that way. Everyone can do it as they prefer.
W
WilhelmRo20 Jun 2019 16:01HilfeHilfe schrieb:
I have to say that only in Germany is there a culture of envy, with no recognition for achievements. The well-qualified low earner complains, while the high earner is supposed to feel ashamed for consuming. The reason people don’t like you is not envy, but your character. This has been quite clear over the past weeks here. So, if you ever think again, "They don’t like me, they must be envious," no! It’s 90% because of your character. Try not to cover up this fact by lumping all Germans together under the label of "envy."
H
HilfeHilfe20 Jun 2019 16:04WilhelmRo schrieb:
The reason people dislike you is not envy. It’s your character. This has become quite clear here over the past few weeks. So, if you ever think again, “They don’t like me, they must be jealous,” no! It’s 90% because of your character. Try not to cover up this fact by labeling all Germans as “envious.” I don’t have to please anyone, and as the saying goes, truth hurts.
W
WilhelmRo20 Jun 2019 16:07HilfeHilfe schrieb:
I don’t have to make it suitable for anyone, and as we know, the truth hurts Then you must be going through excruciating pain right now... xD
Besides, that was the zero point. Don’t quote something if you’re not going to address it...