Equity - Reserve for Unexpected

  • Erstellt am 2014-01-19 10:43:04

emer

2014-01-19 12:33:02
  • #1
It does not say: heating €8000 there, but for each individual item a price is listed. For example, 60m copper pipe at €3.50. Our cost list has over 6 pages with all kinds of items in detail.
 

Lauri

2014-01-19 15:28:35
  • #2
Thank you again for the answers! Ok, then maybe the idea with the architect is not the best. It doesn’t help me if I can’t compare directly. We are comparing our offer from the current developer (a large green one from the Hannover area) with that of a smaller one from Cologne, which we’ve liked even better so far. But from the smaller one, we haven’t yet received figures for our house. Of course, it’s clear that you can’t estimate whether the €265,000 will be enough; I haven’t written a construction and service description for it. It was more about whether I, as the builder, will need money “on the side.” I’m thinking, for example, about the double burden of rent/financing, where quite a bit will already go away. At the moment, we have quite a bit left over each month, but probably saving more during the construction phase is not feasible. From the €15,000, we also have to pay for a move, one or two lamps, a few pieces of furniture, maybe already something for the outdoor facilities and such. And those are just the things I’m thinking of. I’m just afraid of forgetting really essential cost points. If we choose higher-quality fittings in the sampling (sanitary or so), we can include those in the financing, right? Our developer will or already has planned a financial buffer to some extent for, for example, earthworks, construction electricity, and such. But of course, it is very difficult to estimate in advance whether this buffer is realistic. We have the soil survey on the radar. Building expert, thank you also for the detailed answers. So far, the rough planning is the draft we are continuing to work on. We know that we will have about 150–160 sqm of living space, but we are still moving windows, making things wider, relocating doors and such. Therefore, the purchase price is certainly not final yet, and so far we only have this one offer...
 

ypg

2014-01-19 17:00:02
  • #3
Hello Lauri,

I’m copying our costs from our construction blog that we did not include in our calculations (of course, we included carpet and painting work in the additional costs, but many other things not):


    [*]Rainwater drainage and courtyard gravel ..3300 €
    [*]Garage, HT pipes rainwater...............65 €
    [*]Enclosure of the front yard
    [*]Paving
    [*]House entrance platform
    [*]House surrounding

We might be “surprised” by further costs, the list is just the current status of things.
Your costs can of course be completely different.
Interior finishing upgrades:

    [*]Garage: sectional door in anthracite.........1250 €
    [*]Window opening in storage room...............65 €
    [*]2nd frost-proof outdoor faucet.................370 €
    [*]Drywall, special services.....................1000 €
    [*]Pre-wall installations bathroom...............1200 €
    [*]Bathtub, 180 x 80 + installation ............1000 €
    [*]Heating platform................................110 €


In planning/estimate
Tile upgrade + own work..........................10000 €
Sanitary upgrade....................................2000 €
Electrical upgrade...................................4200 €

Wow, a window in a Zapf garage would cost 441 €! Rip-off!!!
Others:

    [*]Topping-out ceremony................................500 €
    [*]Green manure..........................................25 €
    [*]Pickaxe.....................................................20 €
    [*]Household insurance for storage...................30 €
    [*]Moving company, transport to storage...........1000 €
    [*]Ladder (for chimney sweep)...........................80 €
    [*]Wheelbarrow...............................................75 €
    [*]Cable drum (always needed)..........................70 €
    [*]Fan heater..................................................40 €
    [*]Drill attachment for ETICS............................15 €
    [*]Moving company, transport to new build........
    [*]Holiday home for one month...........................990 €
    [*]Moving company, storage, 10€/day.................
    [*]Various tips
    [*]Fuel costs or a new car

Purchases that are (not always) necessary:

    [*]Mailbox...................................................120 €
    [*]House number (incl. additional costs)................43 €
    [*]Utility room cabinets (Ikea)................................600 €
    [*]2 outdoor lights, up/down..............................100 €
    [*]Indoor lights of choice, from 50 €/each per living room
    [*]Indoor lights of choice, from 20 €/each per secondary room
    [*]Platforms for washing machine + dryer..................160 €
    [*]Bathroom mirror........................................300 €
    [*]CO2 detector...........................................
    [*]Sealed combustion fireplace + installation..........

Material costs of own work:

    [*]Floor coverings of choice
    [*]Baseboards of choice
    [*]Carpet adhesive, primer, filler for screed etc., approx. 60 sqm.............250 €
    [*]Parquet adhesive is considerably more expensive!
    [*]Various special dowels..............................50 €
    [*]Paint, specialty store + tools..................1200 €
    [*]DIY store: paint, consumables....................
    [*]Washbasin, bathroom..................................50 € you have to be creative!
    [*]Washbasin brackets..................................100 €
    [*]Brick cladding + work materials................400 €


I think this helps you a bit!
Regards Yvonne
 

HilfeHilfe

2014-01-19 17:26:24
  • #4
Hello

as it reads here, it is a 100% financing. 15k, of which already 12k goes towards a kitchen, where is there still money for unexpected expenses?
 

Lauri

2014-01-19 17:39:17
  • #5
Hello Yvonne! The list is great... frightening! Thank you very much for that, it helps us a lot, even though we now have to find out first what is already planned for our house... thanks!!

We will get a kitchen for well under 12k, but the money will surely go elsewhere anyway...
 

HilfeHilfe

2014-01-19 18:21:30
  • #6


Could be. Still, 15k is not a solid cushion. Can you increase the loan by an amount X for uncertainties? If yes, I would consider it.
 

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