Construction financing - Your experiences and tips?

  • Erstellt am 2024-08-18 19:36:08

Miinaa241

2024-09-21 12:46:51
  • #1

It is a prefabricated garage with door, window, electric gate, which costs 20k including installation. I calculated 5k for the foundation slab. 25k for the foundation slab of the house. Is that underestimated? What is so immensely expensive there, because of the reinforcement steel?
Foundation slab house + garage with foundation slab considerably more?
 

ypg

2024-09-21 13:33:29
  • #2
Prefabricated garages have a floor and only need a foundation.
 

ypg

2024-09-21 15:15:17
  • #3

That’s not what he meant. Of course, you always have the right to live however you want, alone, as a couple, or with family in an apartment, condominium, or house.
Only the size should fit your lifestyle. A 9x10 floor plan and two stories is far more than many families build.
If you yourself think that your equity and/or salary don’t quite fit the federal state, an industry comparison, or whatever, you should plan the house somewhat more economically according to what you can afford. I don’t want to downplay it and come with the 109 sqm flair for 4 people, but for two it could already become a decadent house in terms of size.
Everyone can do as they please, but then you probably don’t need to ask here if it’s feasible.


Although €2,000 on that loan amount is actually nothing.


30%/35% of salary is still only a guideline for family living, so in comparison to fixed living costs that a bank always considers regardless of income. Assuming one ignores the fact that you also consume more if you have more income to spend.
If you assume that a couple has €1,500 (just thrown out there, I don’t remember the exact figures) in living costs, then with a total income of €4,500 and financing of €1,500 they are within this guideline and still have another €1,500 left to spend.
If the couple now had €5,500 available, the living costs in theory remain the same, but at the same consumption level they have €1,000 more left over. They could use that money to spend, save it elsewhere, or put it directly into a healthier financing. What you apparently are doing is not choosing a healthier financing but an excessively large, bigger house, a permanently higher consumption, but a sick financing.

By the way, we were also only allowed to plan our second house for two people. We were fairly generous with the space. It came to about 132 sqm, including technology, walk-in closet, and storage space. Some 4-person families wished for over 50 sqm of open space. With clever layout, there would have even been a child’s room of about 14 sqm left over. We also had roughly 35% for the financing. It could have been more because the children already have children themselves and thus we are done and have more to spend.
Annual special repayments were almost always the full 5%. That was/is slightly more than one month’s total salary.
As the house has already been lived in for 10 years, I don’t have exact figures anymore.
But: 140/150 sqm should actually be enough, if a child still comes.

It has already been mentioned several times: that doesn’t work.
 

Miinaa241

2024-09-23 11:42:55
  • #4


No, that was NOT said anywhere like THAT. It was said that it does not work "without further ado," i.e. simply reducing size without interior adjustments is not possible. In the construction planning, which the contractor has to prepare anyway, such a redesign could well be possible. The statement that it does not work would imply that there can be no house with a depth of (for example) 8.5m...

However, it was also mentioned that a reduction saves a six-figure amount. I have to strongly question that. There are flat-rate costs per m² or per m³ of enclosed space. Assuming it were feasible to reduce the depth of the house by 1m with redesign costs, how should such an enormous result come out here? Especially since all machines, workers & the site manager are already on site.

Don’t get me wrong, I understand the savings potential through downsizing and consider it a good hint, but I think there is not that much to gain here. Especially since the tip makes no sense if you say it would already be impossible after planning is completed.

I take away that my assessment that calculating with only a 30% rate at our income is not advisable.
 

Aspirant

2024-09-27 17:05:04
  • #5
Without intending to offend the OP: For me, the whole concept is not well thought out.

Neither the financing options: Why is so little left over currently? What will you do when children come?

Nor the house costs: The assumed values do not fit at all. The total amount might be correct for the size, but the individual items are, in my opinion, completely arbitrary.
 

Miinaa241

2024-10-27 17:50:37
  • #6
First offers are now in. With kfw-40 we are looking at about €570,000 in the area, completely turnkey but without floors, including a garage. (Cost estimate from the architect's preliminary design was under €400,000) Clearly too expensive. We have also received rejections. We are now also requesting prefab houses.

An appointment with the architect & a bidding discussion with the - supposedly - cheapest provider revealed: Downsizing the house brings almost nothing, we had planned, as recommended here, to reduce the depth. According to the architect's statement, no savings of €10,000 are to be expected here, as suspected, because the entire shell is already there & it is not a reduction of expensive rooms (bathroom, sanitary). - & No, those cannot be further reduced.

The difficulty is that the term turnkey is arbitrary, it is not standardized. We will now remove a few things and increase the amount of own work. It is also clear that the amount of own work is typically overestimated; assuming more than €30,000 here borders on absurdity.

As I, the apparently "concept-less" one, correctly suspected, downsizing brings nothing & the real savings are to be found in the energy standard.

Important question: Is the kfw-40 funding no longer available? On the kfw site I only find kfw-40 QNG, here I am shown an interest rate that is not even 1% below the normal rate? Then kfw-40 QNG is completely ruled out.
 

Similar topics
14.09.2012House financing - house, garage, and foundation slab approx. 290,000 EUR11
02.09.2013Angular bungalow on 800m² plot - financially feasible?16
05.02.2014Costs/planning land, additional construction costs, turnkey, etc.27
14.07.2015Turnkey home. Free land17
03.05.2015Financing with KFW, expert's signature14
13.03.2018Turnkey Construction Land and Prices79
22.02.2016Signature of the work contract before financing?15
08.08.2017Buy land with cash? How to build financing?44
31.03.2018KfW financing - roughly estimated the following scenario10
19.07.2018KFW 70 or is KWF 40 Plus worthwhile with significant additional costs?43
09.11.2018Funding feasible or realistic53
01.07.2019KFW 55 - Insulation under the floor slab37
21.10.2019Financing with building savings loan + KfW + subordinated loan17
01.07.2020Financing via KFW 55 or still from the bank?18
28.10.2021Feasibility of financing for a 155 sqm single-family house11
07.01.2024KfW Funding Climate-Friendly Residential Building from March 2023152
15.08.2023House construction planning: timber frame house, log facade, shed roof35
06.12.2023Electricity costs for a KfW QNG 40 house19
30.03.2024KFW 300 - Qng - Prefabricated house - Rhineland-Palatinate15
16.08.2024Buy land with cash, construction through KfW/NRW Bank27

Oben