Build a home? Land in prospect

Hello,

So I recently got a brochure from the company Allkauf Haus. They offer 114 sqm for €118,999. including the foundation slab and roller shutters (without motor).

Are you talking about a closed shell? If yes, this price is too high for the offered floor area.

The basement would cost another €11,900. Of course, it's a shell house, but you could also hire all trades yourself.

So shell house (a house finished from the outside) ;) The price for the basement specifies the pure (concrete) basement costs, excluding excavation and backfilling. As far as I remember correctly, this offer also does not include a soil survey => possibly consider additional costs for soil replacement or similar. A realistic price for a basement of this size (8.50 x 8.50) can be estimated at around €25,000-30,000 including necessary earthworks but without disposal of excess soil, provided it is purchased from a general contractor and "normal" soil conditions are encountered.

I keep getting feedback from builders that they have overestimated the savings through their own project management. Unless they have excellent contacts and negotiation skills, it often ends up being more expensive in the end. So be cautious with premature confidence that it must be cheaper by managing it yourself ;)

Kind regards

From a financing perspective, however, you could also get information from KfW if you are building an energetically special house – you currently get the money almost for free due to the repayment grant.

I have now received an offer for financing. Maybe you could take a look at it.
200,000 € is being financed. With a 15-year fixed interest rate, I pay about 920 € over 30 years at an approximate interest rate of 3.80 % (seems a bit expensive to me). I can only make special repayments after 10 years (also seems strange to me). Otherwise, there is 1 year without provision fees (that’s fine so far). What I have in mind, however, is Wohnriester. But I was advised against it. At the moment, I have been diligently contributing to Riester for retirement for a few years. I would like to use this amount for repaying the house --> so Wohnriester. This way I receive all the allowances. If I understood everything correctly, I could conclude a Wohnriester building savings contract of 50,000 € and would then need less of a normal loan --> so 150,000 €. Is this correct or am I mistaken? I already have a building savings contract that I can split, so there are no closing costs.
What do you think about Wohnriester? What do you think in general about the offer?
Best regards
Kwa

What might still be important: In the entire calculation I actually assume one salary. Thus, the 920 € is almost at the limit, and if I also save additionally into the Riester contract, it becomes tight. Of course, I can stop Riester contributions, but then I would lose all the allowances and tax advantages. And I don’t want that. As I said, our financial advisor doesn’t think that Wohnriestern is good. But I have the feeling that I can’t fully trust him and that he is after the higher commission if I conclude a loan agreement of 200,000 €.

What might still be important: In the whole calculation I am basically assuming one salary. Thus, the 920 € is almost borderline, and if I then additionally save into the Riester contract, it gets tight. Of course, I can stop Riester contributions, but then I would lose all the allowances and tax advantages. And I don't want that.

As I said, our financial advisor doesn't think Wohnriestern is good. But I have the feeling that I can't fully trust him and that he is after the higher commission if I take out a loan contract for 200,000 €.

Just a quick question on the side. You don't really trust your financial advisor and yet you still let him advise you? If I didn't trust my financial advisor, I would either find a new one or do it myself...

3.80% p.a. is quite expensive. I don't have the average interest rate for a 15-year fixed rate period in mind, but it also seems very high to me :)