Because the condominiums are getting more and more expensive

I am 36 years old, single, and currently looking at condominiums. When I see that prices in my region are constantly rising and some new condominiums with 3 rooms sometimes cost between 180,000 and 300,000 euros new, I am contemplating buying a plot of land and having a small prefabricated house built. Unfortunately, there are hardly any condominiums in the small villages, but there are cheap plots of land, sometimes for 100 euros per square meter, so I would have to pay 50,000 euros for a small plot. From my Google search, I find that there are prefabricated houses for 120,000 euros that offer about 100 sqm. That would bring me to 170,000 euros, plus additional construction costs and furnishing, etc., so I would end up at 220,000 euros, right?

Regarding finances: The 220,000 euros is currently the absolute upper limit. I earn reasonably well and have a very secure job, so I could spend almost 1,000 euros per month on loans. I only have 20,000 euros in equity.

My questions:

1. Do you think my (naive?) rough calculation is feasible?

2. How do I find affordable and good providers of prefabricated houses?

3. What would you do as a total beginner in construction:

a) Save for a few more years and read books/reviews about prefabricated houses and their providers?
b) Stay away from building because nothing decent is available for 220,000 euros?
c) Bite the bullet and buy a condominium?

Thank you very much for your help

Bauanfänger36

Hello Bauanfänger36

I can't really tell you anything about the costs.

Whether a prefabricated house or a classic house built on site is cheaper or not has to be said by others since I have never dealt with it.

But you can save a few euros through your own work. Although I could imagine that this is not so easy with a prefabricated house.

I live in a house and would only very reluctantly want to live in a condominium. Because there you are probably dependent on the goodwill of others for many things if you want to do something. And if there are people there who maliciously block everything possible, you will eventually be terribly annoyed that you did not build after all.

You write that you are alone, which could definitely change tomorrow. And then a child comes along, and having a garden is very advantageous to turn it into a playground for the offspring.

So I personally would rather build, but if possible with a basement to accommodate heating, washing machine, and such. You can also use the basement perfectly as a storage room since there is a fairly constant temperature there all year round.

Have a nice day

You / you all should ask yourselves whether you will be happy in the "Käffern" in the long run. It is clear that wealthy young people are buying up the ETWs in the cities like hotcakes because of the short distances.

Counter-question, single. Do you really want a house there and for what purpose?

Hello,

from my own experience, you probably won’t manage it that way. I also only had a condominium when I was single, but that became too cramped for two people, so we built a house. As a single person in the countryside, I can also imagine it being quite boring. But it depends on the personality. We are also in the countryside, but in a new development area, so you usually have young families as neighbors, which is really okay.

I thought you could get by well with €500k, now it has become €540k meanwhile, and we are far from finished. Don’t underestimate things like bathroom fixtures, walls, floors, outdoor facilities, drainage, official fees, kitchen, surveying, electrical work, garage, etc. Small stuff causes a lot of trouble. Try to calculate everything well and add 10, better 20% on top, then you’ll make it.

Our neighbor also built a house for about €120k a year ago and is still working on the interior. Living in it is out of the question for a long time. That will continue like this for several more months. You have to do a LOT yourself here. But as a single person, you don’t have pressure from a better half and are more relaxed about it.

Hope I could help you!

: I grew up in a small town and if there were a condominium in a small quiet complex there, that would also be interesting. There isn’t. In the small towns around here, I sometimes pay between 180,000 and 300,000 euros for a condominium. I want a house because I have already lived in apartment blocks as a tenant and didn’t like these buildings with 20-30 rental units.



Thanks for your assessment. The problem is that I can’t do any handiwork at all and really have to budget for a completely finished house. So if I have to spend tens of thousands of euros more on craftsmen with the 120,000 euros, then this is probably no longer a realistic undertaking for me.



I am close to nature and therefore want to live not only in a nature-friendly small town but also have a small garden. I also fear that I will not be happy with a condominium.

My problem is: I have to start getting more information somewhere. It just won’t get into my head that I can’t get a small inexpensive house somewhere...

Hello,

we are or were all once building beginners and browsed forums, googled, and when the internet didn’t exist yet, looked into business directories ;)
Jokes aside: Inform yourself by reading. Here or elsewhere and acquire basic knowledge.
And then ask yourself why you want a condominium. You say a house would only be an alternative, but then again you absolutely want a garden...
I think as a single person with 20,000 you don’t necessarily have to rush into ownership like it’s some kind of concrete gold investment.

1. Do you think my (naive?) rough calculation is feasible?

No, has already listed what costs can occur during construction.

2. How do I find cheap and good providers for prefabricated houses?

Internet search, business directory...

3. What would you do as a complete building beginner:

a) Save a few more years and read books/reviews about prefabricated houses and their providers?
b) Stay away from building because nothing decent is available for 220,000?
c) Bite the bullet and buy a condominium

a) As long as you know what OK foundation slab means and/or you have saved 25-30% equity

I don’t find a condominium absurd. You can always rent it out or sell it if your situation changes.

I’d also hire a realtor, many properties don’t appear in classified ads or portals. Also take a look at neighboring towns: there is life beyond the town border :)