Condominium or "Single House"

After all the feedback that a normal house with 120 sqm and two floors with land probably won’t be available for under 300,000 euros and that I should rather focus on buying a condominium, I have looked at a few condos in the past weeks, but none of them was even remotely suitable. I am single and imagine about 80 to 90 sqm with three rooms. The prices in the Augsburg surrounding area:

Prices for new condos in the countryside: 3000 euros per sqm
Prices for new condos in the (small) city: 3500 to 4500 euros per sqm
Prices for older condos in the countryside: 2500 euros per sqm
Prices for older condos in the (small) city: 3000 to 3500 euros per sqm

So, in the best case, I pay 200,000 euros + purchase incidental costs for an older condo with 80 sqm, but I would definitely need to plan for new floors, possibly also one or two windows, and potentially upcoming renovations of the building facilities (underground parking, stairwell). So I come to 220,000 euros in the best case for the purchase of a used apartment with 80 sqm and three rooms.

Many sellers of new condos now want 270,000 euros for apartments that will be ready at the earliest in 1.5 years.

And I think to myself, this can’t be right??? So I reviewed my finances again and cut some positions (Sky subscription, Outfittery, expensive mobile contract...). I can put up 1000 euros per month and I am a civil servant for life.

New plan: A "single house"

a) Buy land with 300 to 400 sqm for 80,000 to 100,000 euros
b) Small simple prefab house without luxury with about 90 sqm, no basement, turnkey (including incidental building costs, painting, tiling) for 180,000 euros.

My questions to the community here:

1. Do you think the plan is realistic?

2. How would you proceed?
Would you meet with all the well-known prefab house providers?
Or first the local construction companies? Or an architect?
[Feel free to send recommendations/warnings via PM]

3. Is there an aspect that I might have completely overlooked/forgotten?

Thank you very much in advance.

Search on Google for some typical floor plans of 90 sqm houses. Compared to an apartment, you also have to accommodate all the technology and you simply don’t have a basement room, which you usually still have separately in an apartment. Just so you first become clear about what can be achieved in a 90 sqm house.

Look. Is that enough for you? That would cost around 130 thousand in Schleswig-Holstein. They don’t build that in Bavaria. But you can use the floor plan as a template for the builder near you.

Regarding 3.
Yes, you are ignoring all the answers that have been given to you here over the last 2 years.

Have you ever been to a financing consultation?
It also matters what a financing bank calculates for you as living expenses flat rate. If you bring home 2000 net, you won’t get a loan assigned where you have a repayment of 1000. (By the way, the tip was also that if small amounts like mobile phone or Sky of ongoing living costs already need to be saved, the house doesn’t necessarily bring more quality of life)

Then the aspect that only one salary is available as security.

Your equity of 30000 covers kitchen, incidental purchase costs of the land and buffer. That means: 100% financing!
The Danwood house with 84 sqm (actually turnkey, but without satellite system and mailbox) costs just under 115000. plus base slab 15000, total 130000. Transport costs estimated at 5000... -> 135000.
Additional construction costs 40000... -> 175000
Outdoor facilities must be included in the calculation: cheap 7000 for yard and terrace and lawn sowing... -> 182000
There you have an energy saving ordinance house without fancy technology, without roller shutters, with 2 utility sockets in the kitchen and one in the bathroom. Outdoor socket or water tap is probably also not available?! And the exterior plaster will be affected by algae after 3 years.
Additionally, the land of... x.

Regards, Yvonne

Thanks to everyone for the critical and constructive suggestions and the house proposal from Danwood or the floor plan from Nordlys. I am already aware that my goal might not be entirely achievable, especially considering the previous assessments from this forum.

But buying and renovating an old condominium costs almost as much as a new condominium or theoretically a small house. If I come to the conclusion that a decent small house in my area is not at all realizable for 270,000+- 20,000 euros, then I will put the matter aside completely for now.

My income is well over 2000 euros net, so I assume that a 1000 euro loan installment should not be a problem. But well, I will have to clarify that precisely with the banks.

You can theoretically get more than €220,000 in loans for €1000. However, as the sole borrower, you are not welcomed by the banks.

Therefore, you should first have a meeting with the bank before making further plans.

Regards, Yvonne