House construction 2021 financing €500,000 opinion

Although I would like to see an academic who earns more than 6000 gross or more than 3640€ net with tax class V. That must then be a senior engineer or a doctor.

Teachers, STEM professionals, academic employees in corporations or good medium-sized companies, mostly with collective agreements. Doctors and senior engineers start there, yes.

Turnkey is not the same as turnkey..

I would like to see an academic earning more than 6000 gross or more than 3640€ net with tax class V. That must be a senior engineer or a doctor.

That is possible without being an academic...!

I would like to see an academic who earns more than 6000 gross or more than 3640€ net with tax class V. That must be a senior engineer or a doctor.

Every average engineer in the automotive industry gets that. Not a special salary.

So I just looked at what is included in the offer: we had a shell construction for about €208,000 and an offer for turnkey construction at €356,000. Anyone who doesn't believe me can gladly get the offer via PM. That means if I add the plot of land at €185,000, we are at €541,000 without ancillary construction costs. If I now add another €30,000 for ancillary construction costs, which I think is already generous since we don't even have a basement, I come to €571,000. That should easily work. I wonder how anyone comes up with €650,000 or even €700,000.

There are different ways to estimate – you now have two figures and a few big Xs – what is missing in the offer, what does that cost, and where do additional costs come from. For ancillary construction costs (what that all includes – look at the threads about this here in the forum), one calculates 10%-20% on top of the construction costs. With that, your ancillary costs are probably rather €50,000 and more. The other variant is simply to multiply the living area with typical values: A typical benchmark value is €2,000/m². With €356,000 ("completely finished according to the construction services description") you come to €1,460/m². That is rather unrealistic. See the thread trying this here in the forum, at the very bottom end of the scale to build for €1,200/m². If you already want to make few compromises on space, you probably won't want to make them during the selection of finishes either. Then quite a bit will be added.

My experience is as follows:

Back then, we looked at houses from three different developers (the price for each included the land, and the house would have had about 110 to 120 m2 of living space each).
The first house was offered turnkey for 289,000 euros. Upon closer inspection, there was a gap of about 80,000 euros between the offer and our understanding of turnkey, excluding the garden. With a garden, this house would have cost about 390,000 euros.
The second offer for house + land was about 350,000 euros - however, without exterior facilities, incidental construction costs, connection fees, and without itemization. The final price was not clearly predictable in advance.
The third one was a multi-page offer including every single socket, baseboard, and everything, including the construction portable toilet for the workers. The offer price here was 500,000 euros plus/minus 10%.

The most reliable offer for us was the third, as it was the most comprehensive and also listed many items we had not considered. Based on these three offers, I am very skeptical about offers from developers. We had also done some optimistic calculations back then, but ultimately we stayed away when we realized that we have to be honest with ourselves if we don’t want to live financially on the edge for the next years.

At first, we also wanted a fixed guest room, ideally with a small private bathroom. Ultimately, however, this is pure luxury that costs a small fortune. We have since outsourced this room. Our residential complex has two holiday apartments. Here, the night costs 55 euros and four people can be accommodated each. Relatives cannot come so often in a year that the guest room with its own bathroom would be cheaper...

Continue to save equity, improve your income situation, and look for a property in your price range.

Every average engineer in the automotive industry gets that. Not a special salary.

Oh, but statistics say otherwise.