Cost for a new single-family house, 2 full floors, without basement

Hello,

The granny flat "would be" intended for the mother-in-law, but only if it is to be 170m2. Therefore, rather smaller and then just without.

Don't be mad at me - but 20 sqm is a joke; I wouldn't accept that ...

If I knew that 150m2 without a basement would also work, it would be an option.

Take a look at the attachment. This also works AND the mother-in-law has enough space. For your family, about 150 sqm of floor space remains, since you would own part of the ground floor and the entire upper floor. Cost here in NRW is TEUR 278 incl. foundation slab. In Bavaria, you can add a good 5-8%.

Rhenish greetings

Hello,

Financing 100-110% with the property as equity? Is the property worth so little that its value doesn’t even cover the incidental costs? Or do I just have a knot in my thoughts right now?

My tip for the approach: really think about what you NEED! What are your requirements and wishes for your future home! The difference between 170 sqm two-story without a basement and 130 sqm 1.5-story with a basement are two completely different approaches in terms of the house. Which rooms do you need? How big should they be? Once you have these basic parameters, then think about how your house should look.

A rough cost estimate (others here can do this much better and more precisely, but for orientation...):
- 140 sqm, 1.5 stories: approx. €210,000
- Basement: approx. €40,000
- Incidental costs: approx. €35,000
- Painter/flooring: €10,000
- Outdoor facilities: €10,000
Total: approx. €310,000

And Koempy’s remarks regarding the repayment rate and the follow-up financing are, of course, spot on.

Best regards

Michael

Also 1,300 € installment is way too low for that amount.

These are figures from the bank.

2% repayment is okay, but only 10 years fixed interest is already more than borderline for that amount. I would go up to 20 years. Then the interest rate will of course get worse again and the installment will increase.

We are aware of the interest rate issue.

In my opinion, the numbers just don’t add up in a way that one could give you a confident "OK". Either scale down, accumulate equity, or work on your salary.

The numbers were not made up by us, but by the bank.
- scale down -> okay
- accumulate equity, with other rent of 1000€ rather +300, that is also difficult.
- in the public sector, there's little you can do about your salary yourself... unfortunately

Then you only have to scale down. Anything else would be irresponsible. I was aware that the numbers came from the bank.

Hello,

With the property as equity, a 100-110% financing? Is the property worth so little that the property value doesn't even cover the incidental costs? Or do I just have a knot in my thoughts right now?

undeveloped property in the village? it won't be worth much.

My tip for the approach: really think about what you NEED! What are your requirements and wishes for your future home! The difference between 170 sqm two-story without a basement and 130 sqm 1.5-story with a basement are two completely different approaches regarding the house. Which rooms do you need? How big should they be? Once you have these basic parameters, then think about how your house should look.

Well, if you don't have a basement, you do need 10+ sqm for the technology, washing machine, etc... I might also be satisfied with 140 or 150 sqm. If necessary, even without a basement.

A rough cost estimate (others here can do this much better and more precisely, but for orientation...):
- 140 sqm, 1.5 stories: approx. €210,000
- Basement: approx. €40,000
- Incidental costs: approx. €35,000
- Painter/flooring: €10,000
- Outdoor facilities: €10,000
Total: approx. €310,000

And Koempy's comments regarding the repayment rate and the follow-up financing are of course spot on.

Best regards

Michael

Then you only have the option to keep your ambitions modest. Anything else would be irresponsible.

I was aware that the numbers come from the bank.

Precisely irresponsibility is what concerns me.