Cost estimation single-family house in the northeast of BW

Hello everyone,

My wife and I are currently planning our future home.
We have already read quite a bit beforehand, but some questions are still open.

About us:
We currently have no children.
Together, we have a net income of around €6,000/month.
For a loan, we do not want to pay more than €2,000/month, which gives us a financing framework of just under €400,000.
Additionally, we have almost €100,000 in equity.

About the plot:
We have reserved a plot, which we will finance through equity. --> €80,000
In addition to the purchase price, about €15,000 will be added for development, surveying, and the purchase process.
In total, we will finance these €95,000 with our equity.

About the house:
After thorough research, we have now landed at Town & Country.
We have had several discussions with regional and national providers and felt best taken care of here. Furthermore, we know the Town & Country site manager responsible for our region well.
We want to build the Flair 152 RE. In our region, the base price is €320,000.
Included in the price are:

[*]Underfloor heating throughout the entire house
[*]Heat pump
[*]Masonry
[*]Manually operated shutters
[*]Bathroom fittings including tiles
[*]Pre-installation for photovoltaic and wall box
[*]"Turnkey finish"
[*]House construction protection letter
[*]House ventilation
[*]Stairs
[*]Roof
[*]Windows/doors/window sills
[*]Screed
[*]House electricity
[*]Foundation slab with earthworks
[*]Interior doors
[*]Plastering and filler work

I have taken the list exactly from Town & Country.

We want to make a few minor changes to the house plan:
We will remove a non-load-bearing interior wall and two doors will be omitted. This will be credited back to us. We don’t yet know exactly how much that will amount to. Also, some floor-to-ceiling windows on the upper floor will probably be replaced by regular windows.

We want to do all painting and wallpapering work ourselves. We will also do the flooring ourselves.
The children’s rooms on the upper floor do not need to be finished by move-in.
We also want to carry out the tiling work ourselves. We currently estimate about €30,000 for materials. Tools are available within the family.

In addition, there will be a carport with a small enclosed storage room next to the house. The construction will also be done by ourselves.
Currently, we are budgeting €10,000 for this.

For the outdoor area, we are currently only budgeting €5,000; the driveway, terrace, etc., will come later when the corresponding budget has been saved again.

We are planning another €35,000 for other incidental costs.

We actually keep our living expenses quite low, so we expect to still be able to save about €1,000 monthly even during the double burden of loan and rent.

Have we forgotten any big points here, or do you think this is feasible?

For a loan, we do not want to pay more than €2,000/month, which gives us a financing framework of just under €400,000.

How old are you? Why do you want to repay so high? Your possible financing framework is actually well above €400k.

Have we forgotten any major points here or do you think this is feasible?

If you think that floors + walls + tiles for €30k are sufficient, then that is doable – but it takes time. What is currently unpredictable for me are your €35k for other ancillary costs. Are these enough for the (internal) development and possibly larger earthworks (at T+C only a minimum is included)? Is the plot level? Does it need a cistern or similar? You need to clarify all that in advance. A big question mark for me is your wishes. Is the T+C equipment really enough for you or will there be additional wishes – keep in mind that the floor plan really only includes the absolute minimum of quality and quantity (so the Dacia of houses – it runs but is basic). I PERSONALLY would massively increase the number of sockets, wall and ceiling outlets + plan the network from the start. Also, manual blinds are nowadays standard for rentals but not standard for owner-occupied property. Or or or. But that is up to you – you would not be the first T+C builder (and thus rather the norm) who increases the house price to a "normal" level simply by upgrading. You also have to live with the fact that you will probably have to live for a longer time in the mud around the house. Without children still okay, but with a stroller or playing children almost a no-go (even if the children playing in the mud see it differently...). And such a terrace plus driveway will definitely be five-figure again. So yes, it is plot. feasible if you can handle that and have time.

Hello and thank you very much for the quick response. We are both 28 years old. We would just like to keep the monthly burden as low as possible. We also don’t want to lose the house immediately if one of us is unable to work for any reason. The plot is flat. A cistern can be installed but doesn’t have to be. If it’s financially possible, it will be added later. However, we now have to wait for our next appointment with Town & Country. We are aware that we will have the Dacia first. Regards Max

We are both 28 years old. We would simply like to keep the monthly burden as low as possible

That's why I asked. Especially since you are not keeping the burden low as usual, but significantly exceed the typical repayment of 1-1.5% at the current interest rate level with approx. 2.5%. So you want to repay relatively quickly. Just think about leaving the rate at €2,000/month but financing €450,000. Then it will also match VW level including driveway + terrace. Just as a thought.

Doesn't read bad, especially if you do the last bit inside yourself. A flat 35k for miscellaneous I find is too little if you look at it roughly like that. I would go with 60k for incidental construction costs + patterning if you don't want to break it down further.