Hi All
i'm just looking any advise or feedback on my situation.
My future wife (getting married early next year) and myself will be looking to apply for a self build mortgage in the next few years. i am in full time employment with a irish multinational and would feel very safe in my jobs. My partner is a primary school teacher on a permanent contract. We have two children (8 months and 3.5years).
we currently have savings of approx €6,000 with outstanding loans of approx €12,000. We will be clearing these before we apply and focusing on saving.Our combined income before tax is €64,000 per year.Our biggest out lay per month is on childcare (€1,000) with rent (€300) and Car loans (€400 between the two of us).
I have estimated the build cost at approximatly €200,000 for a 180m²/200m² bungalow but hopefully less as i work and have extensive contacts in the building materials industry. i have pulled this figure out of my head so if anyone thinks it is unrealistic please let me know.
we will be building on a site gifted to us by family worth approx €40,000-€60,000 and hoping to get 100% of the build cost. we dont have planning permission but will have all this in place before applying.
if anybody has any advise or thinks we have no chance of ever building please let us know.
thanks
i'm just looking any advise or feedback on my situation.
My future wife (getting married early next year) and myself will be looking to apply for a self build mortgage in the next few years. i am in full time employment with a irish multinational and would feel very safe in my jobs. My partner is a primary school teacher on a permanent contract. We have two children (8 months and 3.5years).
we currently have savings of approx €6,000 with outstanding loans of approx €12,000. We will be clearing these before we apply and focusing on saving.Our combined income before tax is €64,000 per year.Our biggest out lay per month is on childcare (€1,000) with rent (€300) and Car loans (€400 between the two of us).
I have estimated the build cost at approximatly €200,000 for a 180m²/200m² bungalow but hopefully less as i work and have extensive contacts in the building materials industry. i have pulled this figure out of my head so if anyone thinks it is unrealistic please let me know.
we will be building on a site gifted to us by family worth approx €40,000-€60,000 and hoping to get 100% of the build cost. we dont have planning permission but will have all this in place before applying.
if anybody has any advise or thinks we have no chance of ever building please let us know.
thanks