Funding feasible or realistic

I might get harshly attacked for this post, but I still want to briefly add my two cents.

We signed in June 2017, started construction in October, and moved in July 2018. We built about 40 km east of Dortmund. According to the contract, our house cost 216,000 euros, and a 6x3m prefabricated garage was included.

Our salary situation was very similar to yours, but we didn’t even have a third of your equity. If I had requested the project here back then, I probably would have been massively scared and intimidated. Whether the construction would have ever happened – rather doubtful.

I just want to say that these inquiries here are useful, but often the worst-case scenario is highlighted. As I said, useful, but sometimes a bit unsettling.

For example, our garage was calculated at 6,000 euros, and that already included a power outlet, as well as an internal and external light point. Foundation included too. When I read here that a garage costs 15,000 euros and then you have to calculate a few thousand more for the electrics, I wonder what kind of luxurious garage that should be.

Our plot was quite cheap at 50,000 euros, so in the end we only borrowed 310,000 euros, and even had a few thousand left over. I’m well aware that we may not be the rule, but it doesn’t always look as bleak as one might get the impression here. (We also had some problems, you can read them here, but these cost us almost only nerves and time.)

I don’t want to attack anyone posting here, just shed some light where there is a lot of shadow.

Regards

P.S.: Of course, I want to join the previous posters regarding the plot. Finding the right land is at least as difficult for us as finding someone who will build a house on it. So first find the suitable land.

Thank you very much for your post and the quite extensive feedback... Such answers are welcome and extremely constructive. I know it doesn’t always have to or can go that way, and many stumbling blocks have to be overcome to reach such a state.

In my opinion, you already made the first cliché mistake by choosing a floor plan (according to your statement your optimum) without having the matching plot for it.

You’ve now also heard that it can go cheaply. It just requires decisiveness – namely to reject all options that cost more money than originally planned/available. Of course, that also works, but for that one (!) should determine and weigh everything beforehand and not only during the construction process.

Since you can read various things here and basically don’t want to know anything about possibly missing items, I'm out.

Oh Maria... What else can I say?!

I get hit over the head with the price frame because it’s supposedly calculated totally unrealistically… So far so good, then my question about where the alleged costs are is more than understandable, right?!

Where does it say that I don’t want or assume no hints… Sorry but that is just nonsense again and unfortunately misinterpreted.

My reference to the original background of the thread was aimed at the friendly user who “has to shove all info up my backside”…

And thus hasn’t quite understood the causal chain either.

And finally, about our so-called cliché mistake – yes, we don’t yet have a plot and yes, we don’t yet know which house may be built on a possible plot. But we have various options for exactly such a scenario. Regarding the floor plans, we currently only took one variant of a standard floor plan and expanded it with minor things like a shower in the guest WC, or the bedroom with a walk-in closet, no more and no less.

I believe this is not planned too far ahead yet.

Accordingly, I would be very happy if you could explain the possible mistake to me and maybe show a better solution.

If you are actually out of the topic now, thanks anyway for your contribution.

Best regards, Bram

My experience report on this (we are also building in Saxony next year, near you).

The appointment at Town & Country was as follows: For 250K€, you can have any house from the catalog built turnkey here, no problem. We were of course totally enthusiastic... but then the follow-up costs gradually came to light. Result: in the end, only 10K€ below the comparison price of an individual solid builder or below the prefabricated house providers. But, in my opinion, the comparatively "cheapest" construction with Ytong and the commitment to the (partly) silly type houses, since Town & Country saves the elaborate statics recalculation with each object this way.

We know satisfied Town & Country builders personally, so I don't want to speak badly of it. But for a few euros more (3...4%), you also get something real.

My experience report on this (we are also building in Saxony next year, near you).

The appointment at Town & Country was as follows: For 250K€, they can build any house from the catalog turnkey, no problem. We were of course totally enthusiastic... but then the follow-up costs gradually came to light. Result: in the end only 10K€ less than the comparison price of an individual solid builder or among the prefabricated house providers. But, in my view, the comparatively "cheapest" construction method with Ytong and the commitment to the (partly) silly model houses, since Town & Country thus saves itself the elaborate recalculation of the structural calculations for each object.

We personally know satisfied Town & Country builders, so I don't want to speak ill of it. But for a few euros more (3...4%) you also get something proper.

It would now be interesting to know how much more it was over the 250K€ and which items those were!

The list was long; however, I will not go into specifics with regard to [Forenregeln] and the confidentiality of the offers ([Kleingedrucktes]). It is also of no use to anyone, as each offer is highly individual and not comparable anyway. The price difference is based on an estimate, since a Town & Country prefab house, on average, can hardly be compared to a custom-built solid house.

I recommend that everyone obtain as many offers as possible, compare the construction performance descriptions, and also ask critical questions about the construction execution (site equipment, trenches, material/thickness of insulation in the top floor, colored plaster or facade paint, warm or cold floor slab, etc., etc.).

Hi,

I can only agree with Snowside. What is being said here is always the absolute worst case. Don’t let yourself be discouraged by all this. Here people say that flooring/painting is not possible under 20k. Absolute nonsense! Even Viebrockhaus offers you that for 13-14?! combined. If you don’t take marble in the living room, then that fits too. And if you do a little yourself or get some offers, then you can definitely manage it for under 10k. Your starting situation is/was similar to ours. Just calculate your plot + 15% additional costs, so around 115-120k. Then the ancillary construction costs INCLUDING painting/flooring/kitchen etc. at about 80k. That is a factor that can vary enormously due to groundwork or similar. Your house will be a bit difficult for 220k. With extra charges/sampling here and there, you will probably be more at about 250k. That makes a total of about 450k.

With a 400k loan and an interest fix period of 20 years, you have a rate of about 1350€. Which notably stays CONSTANT for the next 20 years, unlike rent.

I get the feeling that many imagine a house like from a picture book here. Then the carport is just built next year. A paved driveway is also okay at the beginning. And the hedge doesn’t have to be 2m high, the small ones from Bauhaus for 2.50€ are enough too. The garden also doesn’t have to be perfect one week after moving in, where some people here sometimes budget 20k for it.

Additional costs including reserves, electricity, internet, insurance, etc. I would budget about 600€.

That makes just under 2k€ total.

You are planning children and are in your early 30s... You have to push if you plan a house build and everything... 1-2 years after the build, skip vacations and save the money. Then live relaxed from that, otherwise 2500(3000) could possibly be too tight.

As already mentioned – we are 10 years younger than you but had basically the same starting point. For us it was just about a semi-detached house, since the land prices here are about 450-500€ and we didn’t want to restrict ourselves completely, but EVEN THAT would have been possible.

You also shouldn’t forget that your salary will probably change, inheritance or something like that could also come into play. I wouldn’t really calculate on that, but you should keep it in mind.

Greetings from someone who is currently building simultaneously with 3 friends and all have similar income or loan situations.

You can't generalize about the house costs like that. It really depends a lot on the region.
So our house is 165m2, it's KFW55 with a ventilation system etc.
With a lot of comparing offers and a bit of own work, the costs
ready to move in were around 205,000-210,000.
It's a townhouse with a gallery and an open space.
Including land, outdoor facilities, carport, kitchen, furniture, incidental construction costs, we're at about 310,000.
So from my own experience, I wouldn't use a building contractor.....
We also started with one..... luckily it went bankrupt (without any loss on our part).
From the shell construction on, we awarded everything ourselves and did some things on our own.
That saved us an easy 30,000 euros.