Hello dear professionals,
I have an idea that I can’t get out of my head. I want to buy a plot of land inexpensively and build a new house on it. So far, so good, but my main concern is something else. It is very important to me that everything is done as cheaply as possible since I can only invest about 25,000 euros (27,000 dollars) of my own capital. I have a job where there isn’t much room to earn more. That’s why I want to make the best out of it. I will simply take out the loan I am entitled to (around 200,000 euros (215,000 dollars)) and make the best of it!
My plan
Since my brothers and I are quite skilled in craftsmanship, we want to do as much of the work ourselves as possible.
Building plan
We are thinking of a rectangular plot of land, built on roughly half of it. The house should have simple square rooms, and we are considering two floors with a flat roof.
We prefer large rooms rather than many small ones.
The further plan
Once the house is finished, I want to sell it to increase my equity.
If the plan works out and I gain enough from it, I will have gathered experience and have architecture ready that I can use for a second project, maybe even a third, and eventually have enough equity to build a larger house for myself.
What do you think about this?
(Tips, ideas, how can I do this as cheaply as possible? Etc.)
Thank you in advance
I have an idea that I can’t get out of my head. I want to buy a plot of land inexpensively and build a new house on it. So far, so good, but my main concern is something else. It is very important to me that everything is done as cheaply as possible since I can only invest about 25,000 euros (27,000 dollars) of my own capital. I have a job where there isn’t much room to earn more. That’s why I want to make the best out of it. I will simply take out the loan I am entitled to (around 200,000 euros (215,000 dollars)) and make the best of it!
My plan
Since my brothers and I are quite skilled in craftsmanship, we want to do as much of the work ourselves as possible.
Building plan
We are thinking of a rectangular plot of land, built on roughly half of it. The house should have simple square rooms, and we are considering two floors with a flat roof.
We prefer large rooms rather than many small ones.
The further plan
Once the house is finished, I want to sell it to increase my equity.
If the plan works out and I gain enough from it, I will have gathered experience and have architecture ready that I can use for a second project, maybe even a third, and eventually have enough equity to build a larger house for myself.
What do you think about this?
(Tips, ideas, how can I do this as cheaply as possible? Etc.)
Thank you in advance
B
Bauexperte30 Apr 2014 10:27Hello,
Your latest knowledge is correct 😉
Regards, Bauexperte
nordanney schrieb:
Only for properties not owner-occupied. If owner-occupied, you must have lived there in the year of sale plus the two previous years (to the best of my latest knowledge).
Your latest knowledge is correct 😉
Regards, Bauexperte