Assessment of construction costs for a 170 sqm city villa

Hello everyone,

We have, through some luck, received a plot of land from the family in NRW in a small village (3000 inhabitants) with a size of 700sqm.

We are currently considering what we envision and what costs we should expect for this.

We would be interested in your assessment of the costs. This is what we have currently imagined:

[*]City villa, 170sqm, KFW55 standard with clinker brick, without basement
[*]Heating via air heat pump, no photovoltaic initially
[*]Two bathrooms (guest bathroom on the ground floor + "large bathroom upstairs")
[*]Ventilation system with heat recovery
[*]No fireplace or similar
[*]Masonry garage with clinker bricks, dimensions 6*9m with direct access to the utility room
[*]Plot level and fully developed

Our current estimate is as follows, please comment:

[*]Plot: 0€ (since already owned and fully developed)
[*]House (excluding ancillary construction costs): 420,000€
[*]Ancillary construction costs: 40,000€
[*]Kitchen: 20,000€
[*]Garage: 40,000€
[*]Outdoor facilities: 25,000€

-----
545,000€

Is this estimate currently realistic?

Thank you very much for your assessment and best regards from NRW!

You are missing approximately 90k 170*3 =510k

Yes, exactly. 3k per m2 is currently the standard. That's why, for that size, it's better to plan with around 650k, then you'll be on the safe side.

Also don't forget to budget equity for new furniture. That quickly adds up to a five-figure amount if you don't want to take the mismatched stuff from the rental apartment.

Better calculate with €3500/m2. The budget is absolutely not sufficient.

When I look at our house costs, it just doesn’t add up. Of course, it always depends on the features, but I would say the house is priced too low. Have you already gotten quotes or had conversations with construction companies that the estimate is based on?