House construction costs and feasibility

Hello,

I have been following here for a while and trying to inform myself about the house-building project with everything that belongs to it...

Originally, it was planned to build in a few years... We are both in our mid to late twenties and have recently had our second child. My girlfriend currently receives only €160 parental allowance (spread over 2 years). I myself earn about ~€2800 net, not bad, but not so much that money no longer matters ;)

With child benefit and parental allowance, we are thus at about ~€3300 net as "family income"... My girlfriend earns a few extra euros as a childminder and after the 2 years of parental leave will work part-time on a €400-600 basis... a wedding would also mean a few more euros net from gross :rolleyes: Sooner or later, I expect our family income to shift more towards €3500-4000.

A few weeks ago, my parents approached me about whether we could imagine building together with them... My parents have had a building plot (~700m²) in a nice new development for a few years where they want to build their "retirement home" soon :D

Now it could become a semi-detached house!

So here I am now and have to consider if or what I can currently afford... from the financial side, I see the matter like this:

€3300 income (2800 me + 360 child benefit + 150 parental allowance)
~€20-25k equity
Share of the land from my parents which the bank also counts as equity.

I plan a monthly rate of €1100-1200 with which, according to mortgage calculators, I could service about ~€250,000 at 2% repayment and a 15-year term.

So a total of €250-270k is available.

Planned is a footprint of ~9x10m and thus a living area of ~130-140m² (ground floor + upper floor) plus a basement. The basement is to serve partly as storage + laundry room, but one room should also be used as an office/workroom and another room should also remain habitable as a "reserve"... hobby room etc.

For an insulated basement of this size in uncomplicated soil, I have estimated ~€40-50k... realistic? It should not be a turnkey residential basement, but two rooms should be heated so I can put in flooring/wallpaper etc. to get an office etc.

That leaves about ~€200-220k for additional costs + the house itself in turnkey condition... (I would lay the floor/wallpaper myself in the basement... hardly anyone sees it anyway *g)

By the way, the new development is connected to a district heating network which you MUST use! That means I can save the money for a heat pump etc... if I am correctly informed, that saves me easily ~€10k+ in investment capital because I do not need my own heating system.

Is this realistic so far? Will I get a basement + house in mid-to-upscale fittings for that money? (Underfloor heating, not the cheapest flooring etc.) at at least KfW70 standard? Will there maybe even be money left over for the outdoor area/garage?

What I keep wondering all the time is what the savings look like by building 2 semi-detached houses? I have already read that the savings when building a semi-detached house are not particularly large... but what about building 2 semi-detached houses simultaneously with the same developer?
That then tends more towards one very large house of 9x20m... right?

I have often read here about €1500-1600/m² for upscale fittings without a basement... is it realistic to hope to come cheaper with such a large building (9x20m footprint, fully basemented)?

How do the incidental building costs look if you build simultaneously/together? That should then also be cheaper compared to a single-family house, right?

Such a long confusing post with many questions ^^
I will try to summarize the whole thing briefly again:

- Are €45-50k for a basement that meets my requirements realistic?
- What should I calculate per m² for "upscale" fittings, with regard to possible savings through building jointly with my parents and by forgoing a heating system? Are there any savings at all?
- What should I assume as incidental building costs here, again with regard to building jointly with my parents?

Hello,

...A few weeks ago, my parents asked me if we could imagine building together with them.. My parents have had a building plot (~700m²) in a nice new development area for several years on which they want to build their "retirement home" soon :D Now it could become a semi-detached house!

It does not have to be a semi-detached house! Two separate apartments (town villa) on top of each other will prove to be significantly cheaper both in terms of construction costs and consumption costs! The younger generation upstairs, the "old" downstairs! In addition, tax advantages can be utilized here ;)!

Best regards

Hello €uro, thanks for the answer.

Unfortunately, your suggestion is not an option for us because we absolutely want a basement! A living area of 130-140m² would be almost too little for me without a basement... Study, laundry room, storage room, etc. simply take up a lot of space from the other rooms, and another heated room in the basement is also a good expansion reserve for a hobby room/gym or, if necessary, a third children's room (who knows what will come ^^)...

Furthermore, we want to be as separate as possible from my parents, so preferably no shared staircase but 2 front doors! And in terms of soundproofing, etc., I also prefer not to have my parents directly below me... ;)

In addition, I would like a spacious terrace with direct garden access and not a (expensive) balcony.

By the way, according to the building regulations, we cannot build 2 full floors and no hipped roof either... it has to be a gable roof!

edit says: what tax advantages would there be?

....Your proposal is unfortunately out for us, as we absolutely want a basement! ...

Special needs/requirements naturally also require corresponding compromises/efforts ;-)

...edit says: what tax advantages would there be?

Since I would prefer not to receive letters from lawyers or tax consulting institutions, please ask your tax advisor about this. Otherwise, PM.

regards

Special needs/requirements simply also require corresponding compromises/efforts ;-)

that may be true... but building on top of each other without a basement would just have TOO many disadvantages for us... only sloping roofs, no garden access, no basement (i.e. not enough space) noise problems, etc...

do you mean that building a semi-detached house with the prices I described is unrealistic/not feasible?

that may be true... but building on top of each other without a basement would simply have TOO many disadvantages for us... only sloping ceilings, no garden access, no basement (i.e. too little space) noise problems etc...

Who is talking here about "without a basement"?

...do you mean that building as a semi-detached house with the prices I described is unrealistic/not feasible?

The cost assessment/estimate may be the responsibility of the responsible planner! That is what they get paid for! Free forum posts do not replace necessary planning, but can at best provide suggestions! Best regards