Cost estimate EHF, 1.5-storey, brick-faced in Hamburg

Hello dear forum members,

since we might be able to purchase a plot of land at a very reasonable price of 120 TEUR for about 600 sqm in a location suitable for us in Hamburg, we have to decide relatively quickly whether to take it or let it go. Therefore, I would like to hear a few opinions on whether we can manage it or not. According to an offer the seller provided us, additional development costs of about 35 TEUR will be added to the land costs (it is a pipe plot, and the access road of about 50 m would also have to be created).

Actually, we have been looking for a used property for over a year, but so far we have not been able to find anything really suitable, except for a house that was unfortunately sold to other interested parties.

Now we are considering increasing our budget or rather the credit line through the new construction subsidy and building a house ourselves. According to calculations with the calculator from the Hamburg Housing Construction Credit Institute, we could afford total costs of about 380 TEUR.

According to the development plan, one story with an expanded attic may be built. Only gable roofs and half-hipped roofs are allowed with equal sides and a pitch of 30° to 48°. The house must be brick-faced. There should be sufficient window areas also in the attic at least in the two children's rooms, preferably with dormers or similar. Unfortunately, we would have to do without a basement due to costs. I believe it would also be more sensible to build it solidly regarding future resale value (we might not stay in this house forever), right?

This is my current rough calculation:

[*]120000 land
[*]35000 development
[*]8000 (approx. 6.5%) notary + GES
[*]180000 (120 sqm + 1500 €/sqm) construction costs; I am not sure if this flat rate already covers the heating technology, at least underfloor heating on the ground floor would be very desirable.
[*]15000 interior fittings
[*]10000 kitchen
[*]10000 outdoor facilities (carport, terrace, etc.)

Besides painting, wallpapering, and laying laminate, I could not take on any work myself.

Since this is supposed to be a simple house, it is probably not absolutely necessary to involve an architect.

Now the question is, will 380 TEUR be enough or not? Is this calculation roughly realistic, or is it already calculated too tight?

I would be grateful for any constructive criticism! Also, tips regarding construction companies in and around Hamburg with which I could realize such a building project would be great.

Best regards

MaxxaM

Oh, something important forgotten: it should be a KFW70 house so that it is subsidized!

120000 for Hamburg, not bad... grab it! Dormers and brick cladding can be expensive (some charge 7000, others 15000 for the small bricks.. I once had a few offers) 180000 feels a bit tight - it always costs more than you think

Don't overestimate the KfW - the interest-free repayment years are a hassle, then calculate what you really save with the interest rate. For example, with Kfw124, you start paying commitment interest from the 5th month. To complete our house with Kfw153, costs of 8000 were added.

The technology today must be considered: some think they don't need it, but I think these houses no longer work without it: the ventilation system!

Yes, that's exactly it, the price is definitely OK and we will then stay in our neighborhood, i.e. no change of school, daycare, club, etc. It is very tempting, it is located very quietly and yet with good infrastructure. But I really don't want to belong to the group of people who overestimate themselves and then have to live on a construction site for several years. These TV shows nowadays really make you afraid...

The thing with the subsidies is also an issue, I think it is worth it for us because we don't earn that much at the moment (my wife is still working part-time). That will probably change in 2-3 years when hopefully both of us advance professionally. That means we could finance 92,000 EUR at 0.6 for 5 years and then we should already earn enough to cover the additional costs.

Where can you get 0.6%? Did I miss something?