Hello everyone,
I don’t have a specific question but rather hope to spark a discussion and gather different opinions about homebuilding in the future...
Personally, I am planning to build a prefabricated single-family house in the Hannover region in about 2-5 years. Until then, I will save up equity and hope that affordable plots of land—or any plots at all—will become available. At the moment, the options in the areas I’m looking at are quite limited.
I have a flexible timeline for building, meaning I don’t urgently need a house in the next few years. But if the conditions are favorable, I would take advantage of that because I want to have a house for my older age anyway. Having children with my partner is not expected until 5-8 years from now.
I assume that building has also become significantly more expensive due to the huge price increases in recent years. Various statistics indicate cost increases of 2-4% per year.
After the current construction boom—which will likely continue for some time—can we expect more affordable prices again or bigger discounts when contractors’ schedules are less full?
Is building perhaps already cheaper than buying a young existing single-family house?
If interest rates rise in the coming years, what would be the consequences?
I’d appreciate hearing some opinions on this topic, especially whether it would be wise to wait before starting construction, as long as the situation allows.
Best regards
I don’t have a specific question but rather hope to spark a discussion and gather different opinions about homebuilding in the future...
Personally, I am planning to build a prefabricated single-family house in the Hannover region in about 2-5 years. Until then, I will save up equity and hope that affordable plots of land—or any plots at all—will become available. At the moment, the options in the areas I’m looking at are quite limited.
I have a flexible timeline for building, meaning I don’t urgently need a house in the next few years. But if the conditions are favorable, I would take advantage of that because I want to have a house for my older age anyway. Having children with my partner is not expected until 5-8 years from now.
I assume that building has also become significantly more expensive due to the huge price increases in recent years. Various statistics indicate cost increases of 2-4% per year.
After the current construction boom—which will likely continue for some time—can we expect more affordable prices again or bigger discounts when contractors’ schedules are less full?
Is building perhaps already cheaper than buying a young existing single-family house?
If interest rates rise in the coming years, what would be the consequences?
I’d appreciate hearing some opinions on this topic, especially whether it would be wise to wait before starting construction, as long as the situation allows.
Best regards
11ant schrieb:
This is actually a very important point, even though it is often overlooked: what good are wide doors and a stairlift in old age if you need a taxi to the neighboring town just to buy bread.Conversely: what good is the local bakery if you can no longer get down the stairs :P
Before setting such premises, one should take a moment to consider the typical environment where a new housing development is usually located. Unless an old school or similar building is being demolished and replaced with 6 to 8 single-family homes, these developments generally end up on the edge of town. Having a bakery within walking distance is therefore probably an uncommon scenario. However, in 10 to 20 years, this might change—provided there is a prospect that further construction will follow the new development and it won’t mark the town boundary indefinitely.
Alex85 schrieb:
Before setting such assumptions, one should take a moment to consider the typical surroundings of a new housing development. Unless an old school or similar building is being demolished and replaced with 6 to 8 single-family homes, these developments usually end up on the outskirts of town. Having a bakery within walking distance is therefore rather uncommon. However, this might change in 10 to 20 years if there is a possibility that further development will take place beyond the new housing area, so it doesn’t permanently mark the town’s edge.That’s true, a supermarket will probably be added as well, but if a river and a main road separate me from the rest of the town, then to me that already feels like more than just an “edge location.”Similar topics