Construction project of this volume feasible?

Hello house-building friends,

I (34) currently live with my wife (32) in a rented apartment (€650 warm). We are both teachers at the same school, I am a didactic director (A14Z) and she is a regular teacher (A13Z). We currently have a net income of about €6500, tending to increase, up to €8000 is possible. Monthly expenses are currently just under €3000. We save €3500 every month.

My wife has now received a fully developed plot of land (~1100 sqm) from her father and we have talked about whether we want to build. We would like to build an energy-friendly, modern house of around 300 m² with 2 floors (2 children’s rooms would be important, large living-dining and kitchen area (80 m²), guest room). Also a terrace with pool and a rooftop terrace. This picture serves as a reference:

Bild durch mod wegen fehlender Quellenangabe gelöscht; Bauexperte

I have no idea what something like this would cost. On the internet it said something about €1800/m² for upscale equipment, which would be €540,000. Additional costs should be about 25%, so another €135,000. The pool costs about €30,000.

I have now set total costs at €750,000. Equity amounts to €150,000. That would be €600,000 as a loan. According to online calculators, with a 3% repayment rate and a fixed interest rate over 20 years, that would be about €2,500 per month. The remaining debt would then be about €160,000.

Before we now contact a builder/architect, we wanted to ask here how feasible you think such a project is financially? Before the disappointment gets too big.

Thank you very much in advance.

Hello,

provided the development plan for your property allows such a building (flat roof, 2 full floors, plot ratio/floor area ratio), you should roughly calculate over 3,000 EUR per square meter of living space (or over 450 EUR per cubic meter). This is what we can tell you from experience. What you are imagining falls under "high-end equipment / premium standard."

The price above would then include the architect (see HOAI), structural engineer, and all other incidental construction costs.

Good luck with the implementation and if you have created a great design, please post it.

Hello,

in principle, your plan should be feasible, but there are several points that catch my eye.

1) You are not looking for a developer since you already have a plot. It will be a general contractor or architect.

2) I doubt whether you can manage with this budget at this scale. But the construction expert might be able to provide more precise statements on this. The garage and the thermal separation will be critical or at least demanding.

3) I gather from this that the children are not yet here. Your critical period will be the time after the birth when one income is lost. You need to plan this time carefully to see if the necessary installment can be covered then.

Ok, so 3000€/m² is quite a different number.

I will post a draft if we decide to build. So far, these are just initial ideas.

Otherwise, I gather from your responses that there is still quite a lot we need to find out about (plot ratio/floor area ratio???, HOAI???)
Furthermore, according to your statements, the project does seem somewhat too ambitious for my financial guidelines mentioned above.
I think we will soon go to a financial advisor and an architect and get some advice.

Regarding having children: The advantage of being a civil servant is that you receive quite a high parental allowance.

Regarding having children: The advantage for civil servants is that they receive fairly high parental allowance.

The terms can be googled. Then you will know what is meant. As for the parental allowance, I simply won’t say anything; for the average employee, even the 13th and 14th salaries are not taken into account.

The terms can be googled. Then you will know what is meant.

As for parental allowance, I simply won't say anything, even the ordinary employee’s 13th and 14th salaries are not taken into account.

...and it ends at 1800