The dangers of building a house

Building a house – a horror story? Perhaps an acquaintance has already told you about building a house that has become a horror story. Stories like these deal with divorce, bankruptcy and other tragic personal fates and may have made you ponder whether you should really pursue your dream of owning your own home. After all, you don’t want to have to tell such stories yourself one day! But there are other ways you can protect yourself. We show you the biggest pitfalls, the avoidable dangers and how to avoid them.

Construction financing as the sword of Damocles

For more and more unhappy homeowners, the dream of owning a home means financial ruin: the number of consultations because of failed construction financing is currently increasing by 10 to 15% each year. The collapse of a construction financing represents a great danger and can have a variety of reasons. (In this article, we explain how to avoid the most common cost traps when building a house avoid.) It can be too tight or have been calculated without the additional construction costs or have failed due to dubious construction companies. Irrespective of this, your financing always has a risk factor: In the long time it takes to build a house like this – and that is sometimes a good seven years from the first planning to the finished home – elementary parameters such as job, health or even the break away relationship. So there is a risk that your solid construction financing will tip over after all. Sometimes the fault does not lie with the builders at all: if their developer goes bankrupt in the middle of the construction phase, they often lose out and have to complete the house at their own expense.

Horror story number 1: Owning your own home – financial ruin

Secure financing thanks to good advice

In many cases, the historically low interest rates provide the wrong incentives, because: Tempting 100% financing can lead to a debt trap. It was not for nothing that a lack of equity triggered the worst financial crisis in world history in 2008. (In this article we will explain to you how much equity capital is required for secure construction financing .)

The safest and most effective way to protect against financial overload is through sound planning. The key to this lies in competent and reliable individual advice. Do not limit yourself to the offers from credit banks and development agencies, because they naturally have an interest in earning money from you. Instead, use independent consultants. As a first step on the way to a secure financing concept that is precisely tailored to your needs, we recommend our free mortgage calculator.

A difficult relationship box

On the Eigenheim project is already the one or another marriage broken up. Couple therapists warn: Building a house harbors due to the enormous personal burden always the potential for one relationship crisis. The statistics also confirm this: Marriage counseling centers are becoming used up to four times more often in new development areas than in normal ones residential areas. Because it often only becomes clear during the construction phase that the partners have very different ideas about your own home. “The large kitchen or the luxury bathroom?”, such questions can end badly. the Disagreements are not uncommon from at least one of the builders felt as a personal insult. After all, such a construction project immensely identity-forming. This burden, which also increases in the family environment can be felt should not be underestimated in advance.

In addition, building a house often brings great stress that all other aspects of life fall short during this time come. In many families, this effect is reinforced by bad things Timing: All too often young families start their construction project in a time of upheaval. If building a house coincides with starting a family, one arises Double burden, in which something inevitably falls by the wayside.

The ultimate nightmare occurs when the relationship and the hard-earned home are lost in one fell swoop. If the relationship breaks up, the house can often not be kept in the end.

Horror story number 2: Your own home – the relationship killer

Open communication and good timing protect against conflicts

You should internalize one thing: building is a team project. Open communication is therefore the key to success. Agree in advance with your partner what exactly everyone expects from their own home and what you can realistically achieve together. In addition, you should both be sure that you want to take on the house construction with all its hardships without restrictions. If the construction project is much more important to you than your partner, then they may soon feel cornered or neglected. In general: take time for each other. For example, go on vacation together despite your construction project and regularly spend a few relaxing hours together. Because those who are under constant stress provoke conflicts. If these are already looming or breaking out, you can solve them early with the help of a mediator. You should also time the decision to build a house carefully. Always start your construction project in a stable situation. In order to remain socially integrated, a network in the neighborhood is an advantage, which can also be of help to you.

Construction defects and construction botch trouble

Cracks in the plaster, water in the basement, forgotten power connections, incorrectly delivered building materials, mold and moisture on the walls, botched construction is not a ghost, but a regularly occurring problem that you as a layman often cannot foresee. Some construction companies even act with fraudulent intent. In many of these cases, the public prosecutor investigates at the end. Since 2003, the number of average defects has increased by 34%. In spot checks by Dekra Real Estate Expertise GmbH , an average of 32 defects per construction project have been identified since 2003. Many construction defects stem from the fact that many construction companies employ an opaque network of subcontractors who sometimes lack the necessary manual skills. If you become a victim of botched construction, it can cost you dearly. In the past, testing companies have charged an average of €10,300 just to rectify the defect. And when in doubt, that’s not the end of the story: there are also costs for experts, lawyers and courts as well as a possible loss of value – and the time and trouble associated with dealing with letters from lawyers, experts and Co. A lot of disappointment among builders also results from the fact that they all too often buy a pig in a poke. Bad surprises are often hidden behind terms such as “natural”, “stable” or “spacious”. Because when in doubt, they will not be interpreted by you, but by the construction contractor. You pay for the misunderstanding, however, because subsequent changes to the prefabricated house are usually not included in the price. (We explain how to eliminate the reasons for construction defects in our article: Bauschusch – from house dream to nightmare .)

Horror story number 3: Your own home – only lies and deceit

Comprehensively informed and secured, you are protected against dangers such as building defects and bungling

Hardly any other partner will be as important in your life as your construction partner. So check it carefully for its reliability and request a company and credit report. Also, collect reports of your experiences – be it in person or in internet forums. In the case of certain demands from the providers, their warning light should also go on, as these indicate a dubious company. For example, you should never have to pay in advance, but only be asked to pay after the service has been rendered.

Does that sound like finding the ideal construction partner for you is quite a complicated matter? We make it easy for you: with our free house calculator, we quickly calculate the expected costs of your building project. With us, the manufacturers have no influence on the result.
Once you have decided on a company, discuss all the details in detail to clear up any ambiguities and ask for collateral when signing the contract! As a builder, you have the right to demand 5% of the purchase price as security under the Claims Securing Act (FoSiG). In case of doubt, competent legal advice will help.
When it comes to the hot construction phase, you should also protect yourself thoroughly against construction defects. The construction progress should be checked regularly by an independent body in order to identify defects at an early stage. Because for you as a layman, the numerous potential sources of error can hardly be overlooked. Although there is a site manager for turnkey projects, this is usually paid for by the provider – so it does not necessarily represent your interests. Visit the construction site regularly with a construction expert of your choice. (We have already compiled further information on the question: Do builders need building supervision? )

Autorin Sarah Völkl

Sarah Völkl hat Architektur studiert und ist seit Jahren das Gesicht von a better place. Mit ihren Videos ist sie bei YouTube vielen Personen schon länger bekannt. Sarah teilt Ihr Wissen jetzt auch bei den Bautipps von Almondia.