Construction costs are currently skyrocketing

We had already paid the costs before we completed the financing. The items were included in the calculation and considered as equity already invested. The kitchen played no role with ING and was not considered by us at all. Only the in-kind contribution for painting and flooring work was credited to us with about 10k. ING also always pointed out to us during the disbursements that we first had to invest equity. Strangely, however, they made almost all the disbursements, i.e. paid out almost the full amount. Only the last 15k is currently being withheld until the equity portion is considered as invested.

We are financing with MBS. Before we signed the construction financing, we had already advanced about 35k€ for the planning phase and other things. We declared that with the financing and got it reimbursed. As equity, we only have the land in the financing. The now 60k€ in cash we are holding back for the kitchen, furniture, and unexpected expenses during construction. If anything remains, it will be put into the remaining exterior work or used for a special repayment.

Frames in white around all windows and doors on a grey facade: €50 net per window/ door

I find this price reasonable. We would have had to pay €50 net per running meter.
This, dear , is also the reason why we are not adding the frames to the house immediately. Especially since we don’t just want them "painted on," but plastered in a different color.

I spoke with our general contractor today, just wanted to check in regarding a first time and cost estimate, in case the other property works out.

The order books are still full, so far no client has dropped out or stopped construction. Currently about a 6-month lead time before any planning can even begin. I also asked about the "price guarantee" in the contracts. There was no change. Fixed price is fixed price and remains so until handover.

As far as costs go, we used our currently built house as a basis. Compared to the end of 2020, the house as of today in the standard + a few extras we had (lift-and-slide doors, electric shutters, etc.) is about 80k more expensive.

On top of that, of course, would be upgrades from the subcontractors, ancillary construction costs, and the usual remainder such as painter, floors, and kitchen, etc. pp.

With the costs of the currently targeted property, the final bill could actually be around 750-800k even in our quaint little town.. :eek::eek:

I have to process that first :oops:

I spoke today with our general contractor, just wanted to check regarding a first time and cost estimate in case the other plot of land works out.

The order books are still full, so far no client has dropped out or stopped construction. Currently about 6 months lead time until planning can even begin. I also asked about the "price guarantee" in the contracts. There was no change. Fixed price is fixed price and remains until handover.

Regarding the costs, we took our currently built house as a basis. Compared to the end of 2020, the house as of today in the standard + a few extras we had (lift-slide doors, electric shutters, etc.) is about 80k more expensive.

In addition, of course, there would be upgrades from the subcontractors, incidental building costs, and the usual remainder like painter, floors, kitchen, etc. pp.

With the costs of the currently targeted plot of land, the bill could actually end up around 750-800k in our quiet little town.. :eek::eek:

I have to process that first :oops:

How much of that is for the plot of land?

The order books are still full, so far no client has dropped out or terminated the construction.

The general contractor we are currently negotiating with already has cases. However, in the vast majority of cases, these concern multi-family houses. At the beginning of the year, I heard worse from my bank after the "KFW number." Apparently, around 25% have dropped out of private financing alone.

How much of that is attributed to the property?

At their price expectation, it would be 266k + additional costs = approx. 285k