Financing single-family house and costs

Hello everyone,

I have the following question about our planned construction project:
He 37, commercial employee
She 33, chief physician's secretary in the public sector
Children 1, no second planned

Income approx. 3,700 net including child benefits
Equity approx. 31,000
Current cold rent 580,- € + 315 € additional costs

Reserved plot approx. 500 sqm costs approx. 61,100 € +
additional costs approx. 4,300 €

We have an offer from a construction company for the construction of a 1.5-story single-family house. Turnkey excluding painting and laying floor coverings in the living rooms
Size approx. 140 sqm
The price includes the base plate
Fixed price 215,000

According to the construction company, additional construction incidental costs of approx. 25-30,000 will be incurred.

Garage will be built independently.

Now my questions:
Does the financing seem realistic or is the project too "big" for us?
Are the estimated ancillary construction costs realistic?
Is the price for the house reasonable?

Thanks for the answers.

Regards
Lat

When it comes to ancillary building costs, it always depends on which services are already included by the construction company. For example, with us, earthworks, construction electricity, and construction water were already included. However, there are also construction companies where you have to pay for everything yourself. So you have to read the construction service description carefully; it states exactly what is included, and everything that is not listed must be paid by you.

Best regards
Sabine

Are the estimated ancillary construction costs realistic?

Is there a soil survey? Have all connection fees and utility services already been taken into account?

What about outdoor facilities? Kitchen? Other expenses related to the house construction?

Earthworks are included in the house price and the soil survey is included in the land price. Utility lines run 1m into the property. The remaining 4m will be covered by us. The heating should be an air heat pump, accordingly the gas line to the house will be omitted... Outdoor facilities should include paving for the driveway, path, and terrace; the rest does not have top priority for the time being and will be gradually handled by us on our own. A new kitchen may be necessary; due to the existing household, no complete new purchases of the furnishings are planned for now.

Regarding ancillary construction costs, there are tons of posts here in the forum and even a separate thread dedicated solely to everyone listing their ancillary construction costs.

Items we also co-financed include, for example:

10k development charges (barely sufficient)
15k street completion (we don’t know yet, will probably fit)
10k garden (already 5k due to retaining walls because of the slope)
10k carport (will probably be somewhat cheaper)
10k paving and walkways (probably significantly cheaper)
10k furnishings (new sofa, bench, table, chairs, bedroom, will be tight)
10k kitchen (already about 4k over budget)
20k buffer (attic actually finished, aluminum roller shutters, muntin windows, backfilling with gravel, front door somewhat more expensive (3.5k planned, was not enough), better bathroom fixtures than the minimal standard always planned in the building contract, tiles more expensive than 30€ and extra charge for installation because larger than 30x60cm, staircase different from standard and a few other items) (due to the sufficient buffer, I sleep quite well because everything is financed, I can still return the money after one year without having taken the loan, refinancing is a pain)