Estimate of total costs for a single-family house/with some special features

  • Erstellt am 2014-02-18 12:31:04

Timmi1608

2014-02-18 12:31:04
  • #1
Hello everyone,

we (29-male/28-female, soon two children) want to build a house soon because our rental apartment is becoming too small for two children. Since building land is very expensive here in our area, we want to build behind my parents’ house in the second row.

Since no development is planned at this location in the development plan, we need a special permit for our project. We have applied for this and are currently awaiting the result. To obtain this special permit, we need the approval of both neighbors. On one side, this was not an issue, but the other neighbors objected to the planned access road on their side. Therefore, they rejected our preliminary building application. We had to change our plans so that we now use the existing footpath to the old house. Since our street is also very narrow and building materials would have to be lifted over the existing house with a crane, the neighbor also wanted written assurance from a construction company that the crane would not completely block the street. We can provide this as well.

Due to the special conditions of the construction site, we would have to expect additional costs of 5,000 to 10,000 EUR according to the construction company. We would get the plot free of charge; no siblings are available. Therefore, we would like to build a 1.5-story house with 150 – 160 m² of living space. We would also like to include a basement. On the ground floor, the living/dining area with kitchen and a guest room are planned. A guest toilet should also be included here. On the upper floor, we want two children’s rooms, a bedroom, and a bathroom. The whole thing is to be built in solid construction. Ideally, we would like to build turnkey from a single source. In addition, the access road to the house would need to be widened and completely renewed. We would also build an additional parking space.

Our financial situation is as follows: We have 3,200 euros available monthly, 30,000 euros equity is currently available. We have planned a monthly repayment of 1,000 euros. In addition, the plot would be counted as equity in the financing. Since it is only 200 m² of land, that would amount to about 40,000 euros.

Can you help me here with what total costs I should expect? Is the financing solid, or do you think it is not suitable? If you need any further information, just let me know briefly.

Thank you very much in advance

Best regards Mirko
 

Timmi1608

2014-02-18 14:16:50
  • #2
What I would like to add: As a special treat, we wish for a wood-burning stove in the living room and an infrared cabin in the bathroom.
 

Justifier

2014-02-18 15:04:14
  • #3
For a 1000 euro loan installment, you get roughly 200,000 euro loan amount. It will probably be very tight for a house with a basement, but we’re not even talking about any special features yet.
 

Wastl

2014-02-18 15:23:20
  • #4
Are the 3,200 1 salary or as of now? Child benefit and parental allowance? The house with 150 / 160 sqm costs a lot of money. Added to that is the basement and the special feature with crane assembly.

A very rough calculation: 1,500 € per sqm + construction incidental costs (40k €) + basement = 310k € For 1,000 € you get about 210 - 230k € loan -> + 30k € equity = 260k € -> Then quite a bit is still missing for your little house.
 

Timmi1608

2014-02-18 15:24:32
  • #5
We have already been to the bank once; with the 30,000 euros in equity and a 1,000 euro installment, they wanted to give us 270,000 euros. If I now also count the plot of land as equity, there should be a bit more possible. However, we have not had this checked by the bank yet. The total amount should be around 300,000 euros. Can we roughly manage with this (with loan amount and total price)?
 

Timmi1608

2014-02-18 15:46:32
  • #6
The 3200,- are 1 salary plus 2x child benefits. So these are income that is available long-term. I have deliberately not included parental allowance.
 

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