Cost breakdown - Solid house - right at the beginning...

Hello Der Da,

To take up Epi's calculation: 150 sqm x ...

After deducting the slanting parts, you can easily assume 200 sqm of pure living space ...

Rhenish greetings

500 k€ really put me off quite a bit...

We earn 2k€ + 1.4k€ net. More than 1k€ monthly repayment is then not feasible.
If, in addition, a salary is temporarily reduced in the coming years due to parental leave...

I suspect I have to give up our construction plans!

Thank you for the detailed answers.

For a loan of TEUR 320, more than EUR 1,000 monthly installment is required. With only 2% repayment, you are already over 1,300 monthly, but the salary is then (probably) too low.

Hello,

I suspect I have to give up our building plans!

I rather suspect that you have no idea WHAT you have put up for discussion here; you are still very much at the typical beginning.

With what you currently have in mind, you are looking at about 200 sqm of pure living space – quite a large house! Naturally, my first question is aimed at this – does it really have to be that big? And further – does it have to have a basement? There is nothing more expensive than putting your hard-earned money into the ground just to use this created utility space for boxes and maybe the technology.

Intelligently divided 140/150 sqm – maybe with the option to convert the attic later – on a concrete slab can make a really nice home.

Maybe you should first have a proper conversation with an independent financing broker before burying your head in the sand. Because if you give up so quickly, you won’t survive the construction phase of your single-family house.

Rhenish greetings

Leave out the basement, build smaller, and look for a plot of land that is flat. Slopes are always more expensive. I think that with your equity it is quite possible to manage with a loan of €250,000 - €280,000. but that means a lot of compromises, and maybe also sacrifices. (A wood-burning stove doesn’t bring much, but is relatively expensive)

Take the Epis list, that usually fits, get advice on how much you can stretch, and then look for a suitable plot and a house you can afford on it. Or depending on the area, something used...

At the beginning, you seriously underestimate the additional costs. Our house cost €230,000 with all the bells and whistles, without a basement and additional costs. With the land and the mentioned additional costs, the price ends up starting with a 4. When we are finished with the outdoor facilities and fully furnished, the house price has simply doubled.

We earn 2K€ + 1.4K€ net. More than 1K€ monthly for repayment is then not feasible.
If, in addition, a salary is temporarily reduced in the next few years due to parental leave...

Our equity capital is similar to yours.
Earnings are slightly higher so far, but as we expect offspring, we will have a similar income in the future.
Our plot of land is about 20K€ cheaper.

We would also have liked to have a fireplace and a few more square meters wouldn’t have been bad either.
For the financing, that might even have been manageable, but we set a limit for ourselves. Anything that doesn’t fit in there will be done later or maybe not at all. There’s no point in building a huge house and paying it off for 40 years just because you can’t get beyond 1% repayment.
All in (house with 125m², ancillary building costs, land, landscaping) we want to manage with 280K€.
Garage + carport will probably come later, the kitchen will move along for now.
t.