Approximate costs of a single-family house

Hello everyone,

Since I will finish my studies in the next 3 months and then re-enter the working world, we are considering and planning what costs will approximately arise with building a house.

We already have a 740m² developed ground-level plot in a rural area in Rhineland-Palatinate (about 2,500 inhabitants). Since we inherited this plot from my parents and it therefore makes sense to build on it, we are now making the first preliminary considerations. The current question is how much we earn together to be able to repay a certain loan.

As for our wishes, we have imagined approximately the following:
- Ground floor (approx. 110m²)
- Upper floor (approx. 110m²)
- preferably also a basement (m² ?)

Can one already "approximately" say with these details what minimum costs we will face for a turnkey house? I know that no one can tell me the house will cost €250,000 for sure. We would just like to know in which price range we are for a "normal" house? e.g. from €250,000 - €300,000? Or rather from €400,000?

Then I also wanted to ask if there is a rough procedure? Do you first go to the architect with your desired ideas and have a sketch drawn, then to the house provider for a cost estimate, and then to the bank for the loan?

Thank you very much in advance for your answers.

Best regards, Markus

I would say you can roughly calculate with 1500 euros per square meter of house, but without special standards or special requests, meaning 4 walls and a roof; anything extra you want costs extra, such as particularly good windows or a different standard in terms of energy efficiency. The approach with the architect first is not wrong because house building companies usually have the houses they sell; the architect is simply more flexible. Always clarify with the bank before signing the house contract, but check beforehand without obligation what you can afford, otherwise it may be that you do not get a loan because you have already inquired at other banks.

First of all, thank you for your information.
That roughly means, for 2 floors + basement (approximately 270-320m²) I can expect at least over €400,000 without any extras. Quite a lot... I was thinking about €1000 per m².
At least that is a figure to reckon with.

Thanks again!

I can also give you the tip to browse through the threads here in the forum. Often, cost estimates and the corresponding sizes of the houses are given here... Then you will also have a better overview of possible costs.

Are you sure that you already want to deal with the topic of house construction? Do you already have a job? Do you know where it will go after your studies? Do you have enough equity? I think that since there is currently no job and the probation period is still pending, it would be possible to apply for a loan at the earliest in 9 months. But it certainly doesn't hurt to start dealing with the topic now.

Are you sure that you already want to deal with the topic of house building now? Do you already have a job? Do you know where you will go after your studies? Do you have enough equity? I think that since there is currently no job and the probation period still shows signs, it would be earliest in 9 months time for a loan inquiry. But it can't hurt to deal with the topic now.

So these are just the first considerations to know approximately how much one has to earn to be able to build a house. I wanted to submit a loan inquiry earliest in 2016. I have already worked 8 years as a software developer and could be employed full-time again at the same company after my studies for about 2,000€ net. In addition, my girlfriend also earns about the same. The reason why I am dealing with the topic at all is whether the 4,000€ income is enough for such a loan or if I would have to look for something else.

Regarding equity, I had read that the building plot should suffice and that the value of the plot counts as equity. Is that still correct?