Construction project: Feasible or illusion, budget 400,000 euros

I have now found a plot of land with 600 sqm for 160,000 euros (not yet purchased), which is about 50 euros above the market value at 270 euros per sqm for our region.

My wish: A small single-family house should be built completely for 240,000 euros, around 100 sqm, without a basement. Do you think that is realistic?

I am not quite clear on what your actual budget is. In particular, what exactly does "for the 240K completely" mean?

It says in the title total budget 400,000 euros
in Bavaria about 2,000 euros per sqm without additional construction costs and without land, the project will be difficult

In the end, my consideration is simply the following:

- A new condominium with 3 rooms / 70 sqm now costs at least 270,000 euros here, if it has 4-5 rooms and about 100 sqm then it is 360,000 euros and more. A little closer to the city and you can add another 30 to 50k.

- Used condominiums cost about 40k less, but are then from 1970 and partly in need of extensive renovation.

-->That means: For 150 to 250 euros more in monthly loan payments, my own little house could emerge from the condominium in the 20-family apartment building.


- I am not planning for a family, but first for myself, I am single. If necessary, you can add something to the house if I need more space for a family with my still-to-be-found partner (and who might also be able to contribute financially at some point).

- Together with my equity, 400,000 euros is the pain threshold. I can manage another 10 to 20k if necessary, but definitely not 50 or 100.

Honestly... build bigger! It doesn’t have to be 180 sqm, but 120 sqm is enough to still live in it with your wife and children in 20 years. Then it also depends a lot on the builder. We are building for 230k (180 sqm). However, a lot of additional costs come on top for us. In the end, we will be at 430k (including land). So yes, it is feasible. But then you don’t build with Viebrockhaus, but with Town & Country or Heinz von Heiden.

What does a lender say about your pain threshold?
Would you alone get a loan?

In short, regards

Hi.
We had our house built last year for just under 200,000 euros.
Completely ready to move in with a size of 121 sqm.
However, this is in Austria.
As already mentioned, the price does not include any outdoor area, we are currently working on that and I am shocked every time by how much everything additionally costs.