Bayerin
2019-03-12 08:35:01
- #1
Hello dear forum community,
I have been reading diligently for about half a year now, as we have bought a plot of land in Bavaria. But now the time has come, I am desperate...
The situation is as follows:
We (35, 38 with two children, 8, 12, no more planned) bought a plot of land last year:
€190,000 fully developed including incidental purchase costs, €150,000 loan which is already being paid off, €40,000 from equity;
Financial situation:
Income approx. €6,000 net
Expenses:
Loan rate for the plot €600
Building savings contract total €600 (one with €400 will then be used for the house financing)
Cold rent €500 (very cheap)
Additional costs €300
Otherwise monthly costs are variable; important here: €1,000 is put aside every month in a separate account and we do not have to restrict ourselves much for this.
Equity currently €135,000 (minus €40,000 for the plot, so still €85,000)
Now we logically want to build a house on it. The design is finished and we like it extremely much:
145 sqm with an extra-long double garage without a basement, gable roof, ground floor + 1, knee wall at 1.0 meter (requirements according to the development plan: roof, knee wall, ground floor + 1); the plot must be filled up about 1 meter to street level; KfW 55
My husband is an architect and we award all trades ourselves.
We actually thought this should work out well, no huge living space, no basement, etc.
But now comes the price shock: The house alone will cost €405,000. ?!?!?
I do not know what to do right now. We already registered a land charge of €400,000 when buying the plot, because that was also our limit in mind for what we wanted to spend. That would not be enough now...
We could still borrow €20,000 from the parents, but even that is not enough.
I am really losing faith.
Here are the trades:
Shell construction with plaster and screed €150,000 (including ground works)
Roof €40,000
Drywall €30,000
Wood stove €10,000
Windows, doors (wood-aluminum with venetian blinds) €50,000
Sanitary €40,000 (air-water heat pump, underfloor heating, controlled residential ventilation) without sanitary fixtures (we buy those ourselves and have acquaintances install them)
Tiles €10,000 (this is still estimated, the offer is not yet available)
House connections €10,000
Garage door €4,000
Statics €2,400
Kitchen and carpenter €20,000 (estimated)
Electrical €16,000
Steel stair railing €3,500
We certainly planned with a higher standard, but this is now too extreme...
My questions to you, after you have bravely read everything:
Where does the huge final price come from?
What do we do about the financing? Is it possible to take out more than the land charge? And is that still manageable with our income? Currently we would come to just under €1,700 rate if we stay with the €400,000.
Thanks already to everyone who puts so much effort here!!!
I have been reading diligently for about half a year now, as we have bought a plot of land in Bavaria. But now the time has come, I am desperate...
The situation is as follows:
We (35, 38 with two children, 8, 12, no more planned) bought a plot of land last year:
€190,000 fully developed including incidental purchase costs, €150,000 loan which is already being paid off, €40,000 from equity;
Financial situation:
Income approx. €6,000 net
Expenses:
Loan rate for the plot €600
Building savings contract total €600 (one with €400 will then be used for the house financing)
Cold rent €500 (very cheap)
Additional costs €300
Otherwise monthly costs are variable; important here: €1,000 is put aside every month in a separate account and we do not have to restrict ourselves much for this.
Equity currently €135,000 (minus €40,000 for the plot, so still €85,000)
Now we logically want to build a house on it. The design is finished and we like it extremely much:
145 sqm with an extra-long double garage without a basement, gable roof, ground floor + 1, knee wall at 1.0 meter (requirements according to the development plan: roof, knee wall, ground floor + 1); the plot must be filled up about 1 meter to street level; KfW 55
My husband is an architect and we award all trades ourselves.
We actually thought this should work out well, no huge living space, no basement, etc.
But now comes the price shock: The house alone will cost €405,000. ?!?!?
I do not know what to do right now. We already registered a land charge of €400,000 when buying the plot, because that was also our limit in mind for what we wanted to spend. That would not be enough now...
We could still borrow €20,000 from the parents, but even that is not enough.
I am really losing faith.
Here are the trades:
Shell construction with plaster and screed €150,000 (including ground works)
Roof €40,000
Drywall €30,000
Wood stove €10,000
Windows, doors (wood-aluminum with venetian blinds) €50,000
Sanitary €40,000 (air-water heat pump, underfloor heating, controlled residential ventilation) without sanitary fixtures (we buy those ourselves and have acquaintances install them)
Tiles €10,000 (this is still estimated, the offer is not yet available)
House connections €10,000
Garage door €4,000
Statics €2,400
Kitchen and carpenter €20,000 (estimated)
Electrical €16,000
Steel stair railing €3,500
We certainly planned with a higher standard, but this is now too extreme...
My questions to you, after you have bravely read everything:
Where does the huge final price come from?
What do we do about the financing? Is it possible to take out more than the land charge? And is that still manageable with our income? Currently we would come to just under €1,700 rate if we stay with the €400,000.
Thanks already to everyone who puts so much effort here!!!