Financing land and house possible?

Hello everyone,

Surely you know our current concern - oh wonder - we want to roughly know if financing is feasible! :)

OK. Maybe a few basic data:

Man (33) monthly income public service (net) => 1400€
Woman (29) monthly income (net) => 2,800€

"Expenses"

Child support => 364€
Car loan => 120€ (runs until 2016)
Fixed monthly living costs = 1000€ (all in)
Rent => 800 €

--------------------------------------

House financing COMPLETE => 360,000€
Equity => 50,000€

so loan over 310,000€

Basically feasible or preliminary. set a smaller number?

Thanks for feedback! :rolleyes:

I would roughly say yes. The loan will have a monthly burden of about €1300. +€300 ancillary costs for the house.

If you are not planning to have any more children, and the wife takes parental leave, a construction project with €4200 net income is definitely feasible.

However, it depends on how exactly you have planned the €360,000. Are the plot and so on already included? Then it depends on the plot portion, whether a house is included or not. :)

However, it depends on how exactly you have planned the 360,000. Is the land and so on already included? Then it depends on the land portion whether a house is included or not. :)

First of all, thanks! Ideally, everything should be included in the 360,000. For example, we are getting a "prefabricated house" including the land for around 250,000. Then all fees (roughly 25,000) would be added, and the rest would go into the house’s own wishes (different heating, renewable energies, etc., kitchen).

So for the house, if it is a good prefab house, you should easily calculate 200,000. Without a basement. For the plot, you have to calculate 8% of the purchase price for notary and taxes + possibly a broker. A basement costs about 30-50,000. Additional construction costs certainly 30,000. Kitchen 10,000, garage 10,000, outdoor facilities 10,000 and I could go on like this forever :) I still believe that 360,000 can be enough, but I also think that less remains for "luxury".

Hello,

The 360,000 should ideally include everything. For example, here with us, we get a "prefabricated house" including the plot of land for about 250,000.

Where exactly is "here with us" and which prefabricated house provider is it supposed to be, for what house size and with what equipment?

Then all fees (roughly 25,000) would be added, the rest then put into the individual wishes for the house (different heating, renewable energies, etc., kitchen).

You better forget the EUR 25,000 quickly, you will not get by with that:

Typical ancillary building costs

1. Plot of land
5% property transfer tax - varies by municipalitypossibly realtor fees, approx. 3.5% of the plot price, varies by municipalityapprox. 1.5% notary fees, calculated from the plot price3 x entries in the land register (1. reservation of transfer, 2. transfer of ownership, 3. entry of the land charge)

2. Financing
Possibly consulting/closing costs for financing, approx. 1.5% of the total loan amount Approx. 0.25% commitment interest, calculated on the loan amount

3. Construction preparation
Approx. €2,800 - €3,200 surveying services (qualified site plans / height surveying / staking out / building surveying)Preparation of soil report, approx. €1,200Provision of connections for construction water / construction electricity, approx. €6.00 - €8.00 rental for standpipe/day, approx. €300 rental for construction electricity meterFees (for house number, drainage permit, building permit), approx. €1,000 – €1,500, varies by municipalityFire / builder’s liability insurance approx. €80 - €150/year, depending on insurance company

4. Earthworks
Removal of excess soil (normal soil conditions) for basement, approx. €1,500Internal development (wastewater/stormwater pipes), approx. €2,500 – depending on pipe routeInspection shafts, soakaway or infiltration shaft, approx. €1,900 - €2,200Reserve for foundation additional costs approx. €8,000

5. House connection costs
Electricity/gas/water/telecom, connection to sewer, approx. €8,000 - €8,500 - varies by municipality

6. Fees
Inspection of drainage pipe, approx. €150 - varies by municipalityChimney sweep (inspection of chimney / gas system - note fee applies twice), approx. €200 - varies by municipality Land registry office (transfer of the surveyor’s data into the property map), approx. €150 – varies by municipality



Total approx.: Euro 35,000 – 40,000


Important: The above list does not include costs for painter work, floor coverings, and exterior facilities!


Best regards

Where exactly is "with us" and which prefabricated house provider is it supposed to be, for what house size and with what equipment?

Hello Bauexperte,

First of all, thank you very much for the numerous good infos! :)

With us means NRW district ST.

Among other things, there was an offer =>

172,000€
Kfw 70 Komforthaus
121 sqm living space
Plot size approx. 380 sqm

Completely solid.
All interior and exterior walls of your new home from *** are built using traditional stone-on-stone construction. We rely exclusively on brand materials, from the roof tiles to the bathroom ceramics.
Our strong brand partners are for example Vaillant, Velux (Velux roof windows), Busch-Jaeger, Villeroy & Boch and Lunos ventilation systems.
You plan your individual house according to your wishes together with our in-house architects.

Extensive special equipment, including:
- Powerful controlled residential room ventilation system with heat recovery
- Vaillant condensing boiler with highly efficient circulation pump
- Thermal floor slab with frost skirt
- Highly insulated building envelope **** elemental protection, including:
- Construction contracts according to the Building Code
- Completion guarantee insured by R+V Insurance
- Construction time guarantee
- Builder’s liability insurance
- Construction performance/construction insurance
- Fire shell protection (free with conclusion of a residential building insurance according to tariff)
- Blower door test
- Fire protection system
- DEKRA-accompanied final construction acceptance, with certificate.

OK. Thank God for the internet......after a little googling we quickly said goodbye to this provider again ;-)

:cool: Is one "allowed" to simply name the provider despite negative reviews? But I think the way the offer is written probably points quite precisely to the provider.... :cool:

And our thought was => OK. House 172 sounds quite good so far and for the "rest" ;-) we still have a buffer.

I spoke today with colleagues and they said the 35-40 thousand euros you quoted for incidental costs are too much. Since unfortunately we really don’t know much about these things, we are glad there is now the internet, forums etc.

Still thankful for any idea/help (before the “bad” awakening with additional costs happens!)

Our thought is: better to have a bit of leeway than to have to refinance afterwards etc.

Best regards