Does our financing match our capabilities?

Hello Cora,

We have already gone through some documents (these service descriptions, catalogs) and come up with 230,000 to 240,000.

Yvonne has already explained to you how these differences arise. Mostly, these values mark the lowest limit required to purchase a halfway livable single-family house (single-family house).

A friend of ours recently built and paid a total of 270,000, but with land, and 220,000 without. The key data fits 1:1 except for the shower (not flush-level) and roller shutter (not electric). Otherwise, the house is our reference point in terms of size and appearance: garage, facade, area, basement, this pump, and it is an energy-efficient house.

With all due respect – I think that can only be true if a lot of own work (EL) was involved or he simply did not tell you all the costs. Just the incidental construction costs (Baunebenkosten) are regionally marginal but fixed costs; unchangeable, no matter which provider you sign with.

But what speaks against contacting your good friend’s provider and asking for a current offer?

PS: just occurred to me hot off the press: if you build near Münster-/Lipperland, it will be somewhat cheaper. But in my opinion, even then you won’t reach your friend’s values.

Rhenish greetings

Let's take the specified 220,000 from the friend. Minus super cheap incidental construction costs of 20,000 (we also had no more, for example), minus 35,000 for the utility basement leaves 165,000 €. There was no garage, right? Yes, let's subtract another 7,000 for the garage. And 3,000 for the surcharge extras from cheap to less cheap. 155,000 house costs. I know some home builders from surfing who build in this category. I just don't know if one will be happy for even a few years with the built-in standard. Looking only at the cheap ones in terms of price and not comparing the quality with more expensive companies, I consider unwise. I advise you to take a look at the houses in the model house settlements and then assess the price. By the way: if someone asks me without explanation how expensive our house was, I do not name the incidental construction costs... If it’s a prospective builder, all costs are mentioned.

Thank you both.

A misunderstanding of the total costs... I will have to follow up on that.
By the way, that is exactly what we intend to do, to get an offer from our friend's provider.
But the cheap guys have everything ready right away, don't they? We deliberately do not plan that, meaning we want to take more time with the full finishing to avoid installing too low a standard just to have everything ready immediately.

Best regards
Cora

Certainly not. Flooring and craftsmen hours cost money, so the houses are usually offered without these works and painting jobs. Having all the time in the world to do the finishing work yourself, however, also means longer rent alongside the already active financing. By the way, [Bauexperte] has more to do with the house costs, but I think my rough estimate is about right.

In general, the targeted cost of 250K€ can be met. I haven't totaled it up at the end yet, but I think we have come to 230K€ for a Kfw 70 125m² house, WP with surface collector, flooring, painting work, ancillary construction costs, 50m² steel garage, outdoor facilities up to the lawn seeding. If I now deduct the outdoor facilities and the steel garage and instead factor in a basement, 250K€ could fit. However, prices have also risen in the last 2 years and it is still somewhat cheaper in the East.

Garden area, carport, "expansion" of the basement/attic studio can also be done later.

Hm, yes, it can, IMHO only sensible if there is more money later (i.e. significant salary increase, inheritance, lottery win). Example: We pay about 25,000 euros for the double garage with extension (6 m by 9 m). We could have saved that now, less credit, but then save 25,000 euros over the next few years and then the garage -- OOPS, it already costs 27,000 euros, save more -- pay cash. I'd rather have taken it right away and am now paying it off in installments. Also an aspect of the low interest rates...

Otherwise, generally speaking, you seem to have your situation under control! It will work out!