1000m² plot. Is it possibly feasible to divide this and sell one part as a building plot in terms of location and development plan? Or do you want such a large plot? 1000m² also need to be maintained...
A rough cost estimate (others here can do it much better and more precisely, but for orientation...):
- 140 sqm, 1.5 stories: approx. €210,000
- Basement: approx. €40,000
- Additional costs: approx. €35,000
- Painter/flooring: €10,000
- Outdoor facilities: €10,000
Total: approx. €310,000
This will not be quite enough for the OP; in Bavaria, things work differently ... more expensive. He should calculate with €1,600.00/sqm to be on the safe side financially; the closer to a metropolitan area, the higher. If he does not need the capital thus estimated, he can use it elsewhere, up to special repayments. On the other hand, if for example higher foundation additional costs > €8,000 occur (I have considered €8,000 in the ancillary building costs), he will be happy to have reserves.
"Roughly" estimated, it can be said that from about Gießen it gets 2-3% more expensive, in Bavaria at least 5%; both in relation to NRW and both referring to pure construction costs. North of NRW it becomes cheaper again.
In your cost breakdown, the development costs are missing.... That all sounds very well calculated. Neither the house price nor the basement costs will probably be maintainable as they are.
Lamps can also become a lot more expensive very quickly... We now have things hanging that cost 512 EUR each. My wife really wanted them......there’s nothing you can do about it. In return, I get my barbecue area in the outdoor facilities!
So the thing is as follows: With the land and equity, we can cover the ancillary construction costs. I am calculating about 30-40k euros. Thus, it would be 100% financing. Is this still advisable or should one already stay away from it?
For furniture, I have estimated 25,000 € including the kitchen, since we newly furnished an apartment only 2 years ago and therefore already have quite a bit.