Assessment of construction costs for a single-family house in NRW (current situation)

Hello everyone,

my wife and I are now considering building on a family plot at short notice, which we would basically get "gifted"...
The preliminary building request is now approvable after some corrections, so we are allowed to build a detached single-family house with the following exterior dimensions: 8.9m x 12.1m...

Since construction prices and meanwhile also interest rates keep rising, I have the question whether you could take a look and tell us if the whole thing is still realistic at the current time.
Here are our requirements:

- Building in NRW
- 1.5-story brick house with a gable roof, fully basemented
- Exterior dimensions 8.9m x 12.1m
- Photovoltaics (with energy storage in the basement)
- Geothermal heat pump
- An office room in the basement with "real windows"
- 1 dormer per roof side (so 2 dormers)
- Architect estimated possible living space (incl. office in the basement) at about 150 sqm
- Smart home, very good equipment (about €50k, I have a friendly electrician who gave this estimate)
- 4 rooms air-conditioned with split air conditioning units
- 1 "normal" garage directly at the house

We have €300,000 equity and expect €600,000 construction costs for the whole thing... (incl. reserve)

What additional building costs do we have?
Broker + real estate transfer tax fall away completely because we are getting the plot gifted, or am I mistaken?

We would build with an architect and site manager...
We can do little own work at most, such as laying some floors, wallpapering...

Do you think this is realistic?
Would you rather wait until the situation in Ukraine / Russia possibly calms down again?
We are currently totally uncertain and afraid that the house will suddenly cost €100,000 more..

I thank you in advance for your help and assessment.

Hey :)
900k € for the building without the land should be enough for your claim at first glance.
Getting craftsmen is the bigger problem at the moment.
Basically, you can create the invoice yourself.
Living area x 3500€ excluding special requests like geothermal energy, photovoltaics, KNX etc.

Regards
PS: Because I just read "gifted"
You should inform yourself about gift tax and inheritance law in advance.
If it’s not your parents who are giving the gift, it might not be that simple.

In my opinion, it is too tight. 150sqm*3000€, basement apartment, smart home, garage. You quickly get to 600k and currently it is questionable whether 3000€/sqm is enough for very good equipment. Then various additional costs, outdoor facilities, kitchen,... are still missing.

Hey :)
900k € for the building without the land should be enough for your claim at first glance.
Getting craftsmen is the bigger problem at the moment.
Basically, you can create the calculation yourself.
Living area x 3500€ excluding special requests like geothermal, photovoltaics, KNX, etc.

Regards
PS: Since I just read "given as a gift"
You should inform yourself about gift tax and inheritance law in advance.
If it’s not your parents who are giving the gift, it might not be so easy.

Thanks for your assessment..
Maybe I should have taken my heart medication this morning... oO

How do you come up with 900k €..?

Alright then living area 150sqm x 3500 = 525,000€ + approx. 20k geothermal + 80k basement + 50k KNX + 20k photovoltaics = 695,000€...
Which is also 100,000€ over budget, but how do you get to 900k?

Is living area x 3500€ really a current value..?
My architect still calculated with 2700€..?

In my opinion, we are too tight. 150sqm*3000€, basement, smart home, garage. You quickly reach 600k and currently it is questionable whether 3000€/sqm is enough for very good equipment. Then various additional costs, outdoor facilities, kitchen,... are still missing.

Hello .
Okay, so you calculate with 3000€ x living area...
That already relieves me a bit... Is that still current..? (Price increases due to the Ukraine war, etc...)

For kitchen, additional costs, we have set aside another 20,000€ that are not included in the calculation...

So still doable..? Hm...

If you extend the quality standard of your list to the other materials/trades, the 3500€/m² should fit well. 2700€/m² will not work.

Malunga misread and thought 300k€ equity + 600k€ construction financing.