House construction - northern NI - considerations - land available

Hello forum admins & users,

My partner and I are also feeling the desire and asking ourselves the question about owning our own house. We have made the following thoughts and questions. So far, we have neither inquired about a loan nor spoken with a construction company because we are unsure if our conditions might be sufficient for such a project??? I hope that we can get an initial assessment in this forum!? We have tried to list what seems important to us. Is it complete???

House construction Start planning: November 2012 Start construction: Mid 2013 Move-in: Planned April 2014 Current rent burden: 550€ including electricity, heating, water, garbage, sewage 5500€ for the period (~10 months) rent + simultaneous start of loan repayment are available as additional equity

Plot 1250m2 available fully developed Planned amount for house construction: 250000€ Equity: 100000€ Desired loan: 150000€ over 20 years full repayment (2-3% possible???) 50000€ of that via KFW financing sensible? Special repayment: after 5 years: 10000€ after 12 years: 10000€ after 18 years: 10000€

My age: 41 years Monthly net without 13th salary: 3500€ (max 850€ for full repayment (2-3%???) desired) 13th salary: approx. 4500€ net About 20000€ in stocks for retirement (currently at a loss)

Estimated expenses per month: Renovation house in 25 years: 150€ (as planned reserve) Ongoing house costs: 300€ Food: 400€ Car: 250€ Fuel: 200€ Clothing: 200€ Additional pension insurance: 200€ Cinema, outings, dining out: 150€ Insurances: 300€ (car, household, accident, disability, ...) Vacation: 200€ Possible children: 300€

Partner (37 years) approx. 1700€ net as well as 20000€ equity, which should not be included due to desire for children and thus possible additional expenses. Then also marriage for tax benefits.

Construction project: Single-story house without basement approx. 180m2, of which 60m2 are planned as a granny flat for rental in old age Initial planning without own contributions

Wide doors (age appropriate) Kfw 40 criteria to be met Ventilation system with heat exchanger (?) Windows: triple glazing Solar thermal system with heating support and accordingly large storage Floor heating except bedrooms (Solvis???) Gas heating? Fireplace stove without hot water heating for buffer storage: 10000€ Kitchen: 15000€ Bathroom 1: 15000€ Bathroom 2: 10000€ Carport with adjoining storage room for bicycles & garden utensils: 12000€ Garden & paving: 20000€ Terraces 2 pieces: 8000€

Are these first assumptions realistic? Have we missed something? Is the assumed 250000€ for a house with this energy class reasonable?

Without analyzing what has been written economically in detail now, I'll just say off the cuff: put a checkmark on it.

Nothing fits together at all. House price doesn't match the house, income doesn't match the wishes, this won't work with the expectations and the framework conditions.

? Sorry, I’m slow today! Irony! And you want to say "That should fit"! Or does the described scope not match the assumed price?

No irony. Just as I wrote it, that's what I mean.

You won't get a 180 sqm Kfw 40 house for 250K. And by then, your whole calculation no longer works...

Thanks for the feedback! I had thought that a single-story house would be cheaper than a multi-story one with a basement!? Furthermore, we thought that with an existing, fully developed plot [Grundstück] & a certain amount of equity this would be realistic!? How much would such a project have to be roughly estimated at? Without the [Grundstück], since it is already available?

Building experts will surely speak up to explain that to you in detail.

I'll just give a rough estimate.
KfW40 with the technology you have planned for 180 sqm is about 300-330K for the house. Then add + exterior facilities, roughly another 15-20K + ancillary construction costs 35-40K.
If someone does actually offer your house for the desired 250,000, I can only advise you to stay away from that provider...