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

At WK Hamburg.

Note: Link removed, please observe forum rules! Construction expert

Well, the fixed interest period is basically only 5 years. After that, the interest rates are uncertain.

Yes, that is true, but it is just like that, if the income situation does not change, it will remain at 0.6%, and with improvement, a higher monthly burden can also be borne.

Hello,

This is my rough calculation so far:

[*]120000 Plot
[*]35000 Development
[*]8000 (approx. 6.5%) Notary + GES
[*]180000 (120 sqm + 1500€/sqm) Construction costs, I’m not sure if this flat rate already includes heating technology, at least a floor heating system would be very desirable on the ground floor.
[*]15000 Interior fittings
[*]10000 Kitchen
[*]10000 Outdoor facilities (carport, terrace etc.)

This is how a "shoe" comes out:

Plot: TEUR 120
Development: TEUR 35 (if the seller actually meant development costs)
Additional construction costs: TEUR 35-40
120 sqm single-family house/KfW 70: TEUR 180 on slab
(incl. floor heating. GF + upper floor, but without gable dormers or dormers)
Brickwork: TEUR 17
Painting work /
Floor coverings in EL: TEUR 10
Prefabricated garage 3 x 6: TEUR 8
Outdoor facilities: TEUR 10
Reserve for extras: TEUR 10

Results in an investment volume of approx. TEUR 430 without furniture or kitchen

Best regards

Hello construction expert,

Thank you very much for your contribution. This is exactly the honest opinion I was hoping for, then we have to leave it if it is very unfortunate. We could probably finance 430,000 EUR at today's interest rates, but then we would have nothing left for living - vacations, trips, etc. In my opinion, that is not the purpose of the whole thing.

Now there is still the possibility of buying the plot and waiting two years to build. How does that look? Will the bank cooperate with something like that if we pay about 50,000 EUR ourselves and have to finance the rest, i.e. 70,000 EUR + about 10,000 EUR in ancillary costs?
What kind of effort is involved with such an undeveloped plot? As mentioned, it is located in the second row. Do I still have to participate, for example, in snow removal, or regularly mow the lawn in summer? Are there other obligations I should know about?

Hello MaxxaM,a You obviously have that option. Can you afford the financing in two years? Currently, the interest rates are more or less at a low point. If you were earning significantly more, then the cheap loan would probably no longer apply!? Just calculate sustainably with 5% interest and the repayment rate you want...