Buying a house without equity?

Hello,

hm, I can't do anything with that, or where do the numbers come from?

From my daily job; professional experience, if you will.

35k ancillary construction costs? I've never had or heard of it that high..

That wouldn't be so good

1. Land

5% property transfer tax - varies by municipality
possibly broker fees, approx. 3.5% of the land price, varies by municipality
approx. 1.5% notary costs, calculated on the land price
3 x registration in the land register (1. reservation of conveyance, 2. transfer of ownership, 3. entry of the land charge)

2. Financing

Possibly advisory/closing costs financing, approx. 1.5% of the total loan amount
Approx. 0.25% commitment interest, based on the loan amount

3. Construction preparation

Approx. €2,800 - €3,200 surveying services (qualified site plans / height survey / staking out / building survey)
Preparation of soil report, approx. €1,200
Provision of connections for construction water / construction power, approx. €6.00 - €8.00 rent per day for standby pipe, approx. €300 rent for construction power meter
Fees (for house number, drainage approval, building permit), approx. €1,000 - €1,500, varies by municipality
Fire / builder liability insurance approx. €80 - €150/year, depending on insurance company

3. Earthworks

Removal of excess soil (normal soil conditions) with basement, approx. €1,500
Internal development (waste / rainwater pipes), approx. €2,500 – depending on pipe route
Inspection shafts, soakaway or infiltration shaft, approx. €1,900 - €2,200
Reserve for additional foundation costs approx. €8,000

4. House connection costs

Electricity/gas/water/telecom, connection to the sewer system, approx. €8,000 - €8,500 - varies by municipality

5. Fees

Acceptance of the drainage pipe, approx. €150 - varies by municipality
Chimney sweep (acceptance of chimney / gas system - note fee is charged twice), approx. €200 - varies by municipality
Cadastral office (transfer of data from the surveyor to the land register map), approx. €150 – varies by municipality


Overall approx.: Euro 30,000 – 35,000

Important: The above list does not include costs for painting work, floor coverings, and outdoor facilities!

With us on a slab 125k Euro.. but "only" a prefab house, nothing special..

So you mean a closed shell (masonry, carpenter, roofer, windows and facade)?

You initially said you have an offer of TEUR 190 for 160 sqm living space; I doubt that and have compared this figure with the actually expected costs in my reply. Furthermore, which trades the so-called self-performed interior work includes.

Kind regards

Hi Thanks for the detailed breakdown!! That way I can understand it better too! I have one like that as well, the values are, as you already said, regionally different and stated differently. And some things don't even appear, like removing soil, for example, or realtor fees.. My neighbors (2 houses away) also built 7 months ago and had just under 16K euros.. But for example, the house connection costs were not even half.. That's how it goes.

Just the house (basically from the catalog) 125K euros, with all the bells and whistles about 190K euros altogether. I mean, of course I get annoyed when they tell me it will cost this and that and in the end it comes out double.. otherwise why do I even make the inquiries.

So always happy to get more info! I'm already busy reading through the forum.

Have a nice evening

and had just under 16,000 euros.. But for example, the house connection costs were not even half that.. That’s how it goes.

I consider that an absolute rumor! If I calculate ALL costs such as painter/floors/garden/paths/garage and the usual additional costs mentioned here, I come to over 60,000 euros in costs ADDITIONAL to the house price (and for me, some of the additional costs are already included in the house price!) The house connection costs could even have been half! For me, it was like this: 4,000 euros for the civil engineer and 4,000 euros for the energy supplier (and that without GAS)

Only the house (basically from the catalog) 125,000 euros, with all the bells and whistles about 190,000 euros in that sense.

Here you’d have to check (have checked) whether everything is really included (which is not quite the case at that price).

hm, then we misunderstood each other. Painter/floors, garden, garage, paths etc. are not included, it was only about the costs directly related to the construction. Thanks still!

I ran the data through a financing platform. Out of around 200 lenders, 5 are green, all others are red. On the 190,000 construction costs, I added 30,000 for ancillary construction costs. Total construction costs still need to be definitively clarified. Loan amount 170,000 euros, bank + KfW. Fixed interest period 15 years and 10 years, repayment 2%. Results in a monthly rate of around 1,100 euros. Plus operating costs. Overall, it will be quite a challenge.

You can forget the building savings contract. Saving 200 euros there is money down the drain. The building savings agent will be happy.

So, thanks again, I think I have to spread the info a little "broader":

- The house is to be built on a plot of land that technically doesn’t exist: It belongs to our farm complex. That means there are already various utility buildings and garages there.
- A garden as you imagine it will first not exist either – my horses still stand there. If anything, there will only be a lawn, because I already have my "garden" and it will stay (since we now live practically just 10 meters further to the right).
- We are paying for the materials (laminate and wallpaper etc) ourselves.
- The costs break down as follows on my paper:
125K for the house, everything finished except laminate/walls
13K ground slab
7K underfloor heating
a total of 10K for geothermal energy (heat pump already included in the house)
20K additional construction costs
2,500 fireplace + chimney
750 steps for the chimney sweep
10K possibly for photovoltaics

this does not include the costs for the land (notary etc) (that is already "paid by" inheritance)

So, I was presented with this and assumed that’s it… Naive or what?