A little house for the parents

Hello everyone,

I have been thinking for a while about building a two-family house for my parents and me. At first, I wanted to buy one, but somehow there was never really anything suitable.

I would like to keep the total costs under 280,000€. Everything is also clarified with the bank so far. I could just about manage that at my young age.

In our area, the m² costs approximately 300€. I didn’t want to spend more than 80,000€ on the plot, and it shouldn’t be too large either. What other costs will I have to expect? Notary fees, interest, land register entry. That is clear. But can the calculation work out like this?

Regards!

P.S. : I would like an Energiesparhaus :)

Hello Katja,

I have removed your advertisement ;)

I would like to keep the total costs under €280,000. Everything with the bank is also settled so far. I can just about manage that at my young age.
.... But can the calculation work out like that?

Budget: €280,000
Land: €80,000
Additional construction costs: €35,000-40,000
Painting work in EL: €10,000
Floor coverings in EL: €10,000
Outdoor facilities in EL: €10,000
Reserves for extras: €10,000

An investment - besides the actual house construction - of €160,000. Building a two-family house for the remaining €120,000 is not even possible for the competitor who generously offers a washing machine discount ;)

Rhenish greetings

Hello,

as the construction expert has already listed, it is almost impossible, especially in BW, to build a two-family house for your desired price of under EUR 280,000 – not to mention the topic of an energy-efficient house.

What about the parents, could they contribute something to the financial background to increase the budget?

Although it is completely unrelated to the financial topic, in my opinion, you also should not exclude the issue of "living in a house with the parents-in-law," which could be a critical topic for your (future) partner – if applicable...

Best regards,

Dirk

Thank you for the honest answers :)

Topic "Living in a house with the parents-in-law," which could also be a critical issue for your (future) partner - if applicable...

They know and like each other. He is also often at our place (we are currently renting a house. My boyfriend lives a few kilometers away). I don't see any major problems in that.

My father can do a lot himself. When my sister bought her house, it had to be completely renovated. We did almost everything ourselves there. Wallpapering, painting, laying tiles, etc... would not be a problem at all.

What price would be realistic?

OFT: I like my parents-in-law too, even very much. Despite everything, I couldn't imagine (my husband couldn't either, by the way) living in a house with them, and I didn't want to. Besides, they probably didn't want to either. :-) But everyone has to decide that for themselves.

Even if you can do a lot yourself, materials still have to be bought and in the end, you also need the time (not only your own but also that of the helpers) to perform the DIY work. Besides, "wallpapering, painting, laying tiles" are really the smaller tasks that don’t bring much savings.

What price is realistic depends on many factors. The one you imagine is certainly not it. Depending on where the house is to be located (city/countryside, which area), what size and what equipment it should have. Just throwing it out there, you will probably have to add a six-figure sum, probably significantly more, to make it realistic.

And then you should also consider whether you want to tie yourself to a loan amount in your, as you so nicely say, "young years" that you can "just about manage"? To me, that sounds more like: it actually shouldn’t be that much, but that would be the absolute maximum that just barely works with lots of effort.

Hello,

as a rough guideline, you can calculate about 1,500 EUR per sqm of living space.

Of course, there are cheaper providers as well as significantly more expensive ones – I consider 1,500 EUR per sqm a good average.

It also depends on whether a basement, one or two garages, or nice extras like a bay window, an additional gable... are desired.

The building services (heating, ventilation, rainwater use...) can also significantly affect the price.

The construction method (solid or timber frame...) also impacts the price.

Just talk to one or another provider (keyword: [Musterhausausstellung]) and have them give you one or the other orientation offer.

Regards,

Dirk