Financing offer Bungalow 177m³ 300k loan

  • Erstellt am 2021-02-17 08:47:45

martinh1337

2021-02-17 08:47:45
  • #1
Hello everyone, for our project I got an offer from my house bank (Raiffeisenbank) and I wanted to share it with you and hear your opinion about it. Estimated construction costs are about 325k-350k and equity of nearly 70k is available. Our loan amount is 300k (to have enough buffer). 300,000€ total. 200,000€ will be financed through Fuchs Topzins (0.67% fixed interest for 15 years, after 15 years secured with a building savings contract for another 15 years at 1.55%). 100,000€ runs through the bank at 0.80% over 10 years, the remaining debt is covered and secured with my existing Riester contract. Altogether we have an effective interest rate of 0.94% over the entire term (planning about 26 years with 1000€ repayment per month). What do you think about the offer? The construction is in Bavaria, rural area in the Upper Palatinate, land already available.
 

matte

2021-02-17 08:58:12
  • #2
I can't say much about the offer, our construction was too long ago, but are you sure you can manage with the construction costs? You have a 300k loan and a 370k budget. With 177m² and 2k€/m² that's already 354k€. What about incidental construction costs, outdoor facilities/kitchen, etc.?

Sorry, but somehow this seems fishy to me...
 

martinh1337

2021-02-17 13:14:44
  • #3
Hello, well I have all the important offers available Rohbau+Dach(with earthworks) about 110K Windows 25k Plaster 20k Heating (gas) + bathroom about 30k Electrical 12k Screed 4k Kitchen 13k Stove 10k That’s 224k if we have everything done, which will not be the case =) Then 100k are planned for the interior finishing, which I consider realistic with almost 600€/m2 (what tile costs 600€ including installation XD) And the outdoor facilities will come over the next few years =)
 

Nida35a

2021-02-17 13:26:00
  • #4
Dry construction is missing, possibly 25,000€ for all ceilings, insulation, with the bungalow you have areas
 

martinh1337

2021-02-17 13:45:32
  • #5
A concrete ceiling will be applied over the entire area and that is already included =) The insulation on the ceiling is also already included with €3.5K You have to say that these are all special prices through my employer (large construction company)
 

Tolentino

2021-02-17 13:49:00
  • #6
Ok, then it is possible. What are the soil conditions? There can still be quite a bit more during the earthworks. I just had to find out despite a completely flat plot of land (1m soil replacement necessary and additionally 20cm filling - surprising)
 

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