Are the estimated incidental construction costs realistic?

Hello everyone,

we have received the following offer from a local property developer in a first quotation:

House (turnkey) without basement: 123,000
Plot (developed): 30,000

Additional costs for the plot: 9,000 (notary, connection for gas, water...)

Additional costs for house construction: 33,500

These estimated additional construction costs seem a bit high to us:

33,500 + 9,000 = 42,500 compared to a total construction expense of: 196,000

That is almost 22% additional construction costs.

So far, I have always read that additional construction costs can/must be calculated between 10-15% of the total expense.

I also have a specific question:

Based on this calculation, the loan would be applied for.
What actually happens if it turns out that the estimated additional construction costs are lower and we would have needed 5,000 EUR less loan, for example?

Many thanks
mcreal

Hello mcreal,
please put the offer here, then more can be said about it.
What does without cellar mean, is it extra or is a slab with earthworks included in the house price?
What does turnkey mean?
The possibility that €5000 remains, I would estimate at about 0-1%

Hello 6Richtige,

thank you for your response.
I will post the complete offer tonight.
The house is without a basement, so slab foundation including earthworks.

Turnkey: In this case, without flooring and painting work.
(Except bathroom)

I do doubt that anything is "left over" directly.
For me, it is only about the considerably high incidental costs.
So far, I have assumed that one should manage with 20 - 25,000.

So, as announced, here a bit more in detail:

Land costs 500 sqm: 30,000 including development

+ 1,500 for notary, property transfer tax and incidental costs
+ 7,500 connection fees/costs for water, sewage, electricity, gas, sewer connection, telephone and cable.

Purchase price for turnkey house:

123,400

+ 2,500 for multiple foundation, foundation elevation
+ 2,500 for removal of excavated soil
+ 500 for construction water and construction electricity connection
+ 2,500 for change of snow load and/or earthquake zone
+ 9,000 for painting and floor coverings
+ 11,000 for outdoor facilities
+ 3,000 for site plan, staking out
+ 2,500 interest for the construction period

It should also be mentioned that the painting and flooring work is done as own work, as well as the outdoor facilities. Therefore - 12,000 for labor is deducted again.