Construction costs and financing for apartment or house

I can't imagine the concept "Now let's just get started and see where the wind takes us and where we end up." being that simple with the bank.

Suppose we offer for the property and buy it for say 540,000 + 27,000 for notary and property transfer tax. 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?

Then you pay the difference out of your earnings. We don’t do it any other way either. When we signed the loans, 100k less was still "on the clock." Currently, about 50k is missing again. But that’s not a problem because we won’t move in for at least 10-12 months. By then I’ll have saved it up. That should also be possible for you. From 7,500, a big chunk should really be left over.

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

Oh come on – soon you’ll get dizzy here. Just because some people build very expensively here, you don’t have to generalize that. Of course, the place of residence is an issue (so in ""), but 100,000 euros for a basement? We spent around 60k EUR on that – you just can’t say it exactly, because many things blend together.

But exactly with that equipment – only nothing white tank, but ordinary full concrete formwork plus black coating.

Almost 240 sqm on three levels, complete underfloor heating, brine heat pump, controlled residential ventilation, climate prepared, blinds on the ground floor, double garage with basement access, no KNX, but conventionally pretty extensive, everything high-end priced (except one toilet, floor coverings, sanitary, three walk-in showers, four WCs, etc.) for just under 400,000 euros all inclusive excluding land including incidental costs excluding garden/driveway (only gravel so far).

But a lot of electricity...

Oh come on – soon you’ll get dizzy here. Just because some people build very expensively here doesn’t mean you have to generalize. Of course, the location is a problem here (so in ""), but 100,000 euros for a basement? We spent about 60k for that – you just can’t say exactly, because a lot flows smoothly.

But exactly with the equipment – nothing like a white tank, but ordinary solid concrete formwork plus black coating .

Almost 240 sqm on three levels, complete underfloor heating, brine heat pump, controlled residential ventilation, climate prepped, external blinds on the ground floor, double garage with basement access, nothing KNX, but conventionally quite lavish, all upscale pricey (except one toilet , floor coverings, sanitary, three walk-in showers, four WCs etc.) for just under 400,000 euros all inclusive excl. land including ancillary costs excluding garden/access path (only gravelled already).

But a lot of EL...

a lot of EL...and without much EL? And anyway... that may be so. But in a big city it is certainly not the rule. For 60k you definitely don’t get a basement here with the mentioned equipment. Just be happy about your "bargain".. right now everything regarding prices is pretty crazy.

phew, when I read some house prices here, I seriously wonder what is going wrong here in the Allgäu.

We pay over 400k for a 156m² house including usable basement without painting, without floors, without garage, without land, without ancillary building costs and without outdoor facilities (local GU, own design). And we don't have KNX or anything like that. A WC without shower on the ground floor, a large bathroom upstairs, south side roller blinds.

I think some people outside Bavaria underestimate the construction costs in our beautiful Freistaat

And once again about the saying "Location Location Location": It doesn't only have advantages! The risk of being affected by a real estate bubble or its burst is highest precisely in the so-called A locations! The plot in Bitterfeld for €35/sqm loses 10% to €31.50/sqm. That's unfortunate but bearable.

Maybe the house in Bitterfeld is simply unsellable because nobody wants it and everyone can build new. The scarcer and more expensive the building land, the more likely one is to buy an existing property. In the countryside, where building land is available every hundred meters for €31.50, hardly anyone will buy an existing property or only with heavy discounts.
It also makes a difference whether one finds a buyer within 2 weeks or 2 years.

Only that there will not be too big a bubble and overvaluation in Bitterfeld, but rather in Hamburg, FFM, M and so on.