Construction costs and financing for apartment or house

Have you built conventionally/solid with a local developer?

Assuming we would forgo the basement and instead create more living space upstairs, i.e. instead of 140 sqm, 180 sqm. Is that the cheaper option?

40x 1800 = 72,000 EUR

A basement can cost 50k EUR or 100k EUR. A reasonable living basement (heating, bathroom, ceiling height, etc.), maybe even in a white tank.. expect about 90k to 100k.

Of course you can build a house with 300k and certainly less. A standard house. With Town & Country you will surely find something. Only whether someone with 7500k net per month will build such a house is questionable. I’ll only believe it when I see it

That is also my concern. In our town, Town & Country built a multi-family house. Buying an apartment was never an option. A solid basic quality is very important to me, but I can do without luxury.

That is also my concern. In our town, Town & Country built a multi-family house. Buying an apartment was never up for discussion. A solid basic quality is very important to me, but I can do without luxury.

We also didn’t install any luxury. Luxury starts somewhere else entirely. For example, with the living area. 300..350 sqm, that’s luxury. I know such houses. But then we’re quickly talking about 1..1.5 million just for the house. On the other hand, your oak floorboards are already considered luxury by many, or our KNX.

With a net income of 7,500k, I have another thought: Why don’t you go full throttle and save for another 2..3 years? You should easily be able to put together 150k more equity. That is a multiple of what price increases are to be expected. In 2..3 years, other opportunities might also arise. Currently, the market is overheated. I don’t know if it can continue like this for much longer. With 350..400k equity, you are also in a completely different position.

When we seriously started thinking about building a house, we had 60k equity or something like that. But that was 5 years ago. In 5 years we saved up about 250k. My average income over the last 5 years isn’t much higher than 7,500 either.

Regards, Steffen

Have you built conventionally/solidly with a local developer?

Assuming we would skip the basement and instead create more living space upstairs, i.e. instead of 140 sqm, 180 sqm. Is that the cheaper option?

That is then phase 2. You calculate upwards, you calculate downwards, and you calculate in circles. Then come funny ideas like only needing half a roof, which supposedly saves costs.

Building is luxury despite low interest rates.

We also still have a 5 here with us. That was our original approach. After 3 planning rounds, we stopped because it kept getting more expensive.

Now we just start and see where the wind takes us and where we end up.

Not everyone can go along, but I’ve never been a fan of rigid black-and-white thinking. And willpower can famously move mountains.

40x 1800 = 72000 EUR

Ok, that was a dumb question

I imagine the concept "Now let's just start and see where the wind takes us and where we land." with the bank is not so easy.

Assuming we offer for the property and buy it for, say, 540,000 + 27,000 [Notar und Grunderwerbsteuer]. Only then can we plan the house. With the bank, we initially assume an additional 350,000.

After a while, you realize that's not enough. And then?