Funding feasible or realistic

Hello everyone,

I have been a silent reader for some time and would now like to use the collective intelligence of the forum.

Zur Ausgangssituation -
My partner and I are currently dealing with the topic of house construction and have already had some initial talks with various developers.
Gradually, the topic is becoming clearer, so that we roughly know what the project should cost.

Unsere Basisdaten:
I am 33 and a federal civil servant,
my partner is a qualified engineer and employed
There are currently no children, but this will happen in the medium term

Finanzielle Verhältnisse:
Basic salary he: €2500 net
Additional income he: €500 net
Salary she: €2000 net
Equity capital: €60,000
Rent: €550 cold
Additional costs: €290
Other rental costs for parking spaces and garages: €110
Loans: second car 3 years €220/month

Current savings rates:
He: €1200-1500/month + €40 company savings plan

She: between €500-800/month

All costs such as insurance, living expenses, mobility (fuel, taxes, maintenance) and communication (mobile phone, Internet, etc.) have already been deducted from the savings rates

Bauvorhaben:
City villa with 150 m² including all wishes €220,000
Plot between €50,000-100,000, currently no exact one in sight, therefore estimated at €75,000.

Altogether we come to between €330,000-350,000 with everything included. We are quite aware that the incidental construction costs alone amount to 10-20% of the total sum and that our equity capital alone will almost evaporate because of that.

Accordingly, I would be interested in your opinion on the project.

Thanks in advance for your effort
Best regards Bram

Townhouse with 150m² including all wishes 220,000€
Plot between 50,000-100,000€, currently no exact one in sight, therefore estimated with 75,000€.

All in all, with everything included, we come to between 330,000-350,000€. We are quite aware that the ancillary building costs alone amount to 10-20% of the total sum and thus our equity alone almost disappears because of that.

Accordingly, I would be interested in your opinion on the project.

Income is okay, with children to be checked or a buffer to be set.

Costs for 150sqm are unrealistic, 50,000€ are missing even in SN.

Plot purchase price plus ancillary purchase costs. With a broker over 10%. Where are they?

Furnishings like kitchen, lamps, etc.? 20,000€ go quickly.

Outdoor facilities, parking space (or even garage?)?

In total certainly 100,000€ too low.

Income is okay, for children it should be checked or a buffer should be set.

Costs for 150sqm are unrealistic, even in SN 50K€ are missing.

Land purchase price plus additional purchase costs. With a broker over 10%. Where are those?

Furnishings like kitchen, lamps, etc.? 20K€ disappear quickly.
Outdoor area, parking space (or even a garage?)?

In total certainly 100K€ too low.

Broker fees for us are 5-7% and are calculated carefully, the 220k for the house was estimated by the developer.

We are grateful for any hints, so it would be nice to know where the mentioned 100k are to be allocated. The kitchen is already there, as it was purchased two years ago for 16k.

The size of the house is due to the price of the basement - originally we were at 120-130m² + basement, but when I heard that you have to calculate 60-70k just for the basement, we came to the conclusion to build without a basement but to choose the house one size larger instead.

Best regards, Bram

If you yourself are currently looking for a plot, then it is probably more of a GU and not a developer. And with the GU, you have to watch closely (read the construction service description) what is NOT included in the price. There are many threads here.

Also from me the statement: 220k, no chance. Please do not take the catalog prices from the cheapest provider as a benchmark.

If you are currently looking for a plot yourself, then it is probably more of a general contractor (GU) and not a developer. And with the GU, it is crucial to watch closely (read the construction performance description) what is NOT included in the price. There are many threads about this here.

My statement as well: 220k, no chance. Please do not take the catalogue prices of the cheapest provider as a benchmark.

All correct and comprehensible. We have so far visited three prefabricated house providers and solid construction companies each.

The mentioned price was calculated for a solid variant with KfW55 standard, air heat pump, solar panels on the roof, central ventilation system, underfloor heating throughout the house, floor plan adjustments, and additional requests in the bathrooms.

Of course, we do not yet have a construction performance description, as we are still at the very beginning, but we are aware that the devil is in the details.

If it gets more serious, we would like to join the Association of Private Homeowners and have everything checked and accompanied accordingly.

Many thanks in advance for your hints.

Best regards, Bram

So you don’t have a plot yet, but you already have a floor plan? What if the floor plan then doesn’t fit the piece of land? Or due to changes the kitchen cannot be fully adopted after all?

I wouldn’t get too fixed on the final price yet, there is still too much planning and knowledge about the plot missing.
What I would do though: talk to a broker and the house bank about what they would grant you as a maximum budget and consequently as an installment.

By the way: we have now more or less finished the garden. Some plants are still missing and garden furniture. No matter how you look at it, we couldn’t have paved it ourselves and €10,000 really isn’t anything if you hire a company...