House construction southeast Lower Saxony - benchmark construction costs per m2?

Hello everyone,

my fiancée and I are currently planning to build a house. I have a few questions about this, and I would appreciate your help.

Initial situation:
- undeveloped plot available.
The plot is located in the second row and borders my parents' property. It is included in the development plan and may be built on. I currently own the plot together with my brother. It is about 1400m2, so we will divide it. This way, each of us can build their house on it.

House idea: approx. 170m2, no basement, 2 floors, double garage

Financial situation:
Me: pretty much exactly 3000
Her: approx. 1600
Equity: approx. 50,000

Child planned in approx. 2 years, optionally a second one later

Questions:

1. The development distance from the connection point is about 180m. Has anyone had experience with such development distances and can give an estimate? It should be considered that my brother also has to develop, so a certain part of the costs could be shared.

2. I know it is only a guideline, but does anyone have experience with construction costs per m2 in the southeast Lower Saxony area?

3. Also, I would appreciate recommendations for construction companies. Solid construction is preferred, but we do not rule out prefabricated construction. So both are welcome.

4. We see a payment of approx. 1000 – maximum 1200 Euros as realistic. I would also like to know your opinion on this.

Many thanks in advance to everyone who takes the time and gives me some assistance.

Hello! No one can tell you exactly about the development costs. Except that it will be very expensive if you have to have it done through a company. It always depends on the depth of the line. We had a slight slope and paid over 10k for 80 m of [Niederschlagsleitung] including 2 transfer shafts. The trench excavation was relatively high compared to the material... We manage well as four of us with the installment and a slightly higher income. But it's very individual again, depending on [Elterngeld], childcare costs, ...

Phew, 180m development is intense. Very, very intense. This will definitely cost five figures. Your financing volume with a €1200 installment is around €300-330k. That might work, but there won’t be much luxury. You have invested that in the development. What is the land value for 700sqm in your area? It might simply not be worth building there.

Good evening, thank you very much for the answers.

We are only 30 and 27. So there will still be some changes in salary. We are working on it.
So it will take a while until we are 3 or 4.

The developed land value is about 200 euros per m2. It is located between Braunschweig and Wolfsburg, with good highway connections.

I would appreciate further answers and recommendations.

Have a nice evening and a good start to the week.

Since you are engaged, that means you want to get married. Do it as early as possible, if only for tax reasons. With your salary difference, that adds up to a four-figure amount in the annual calculation. In principle, the annuity you calculated is not the worst; it depends on what other ongoing costs you have.

Why do I consider the amount okay? Because you also have to calculate that you could be the sole earner for a certain period. Just calculate 3 years of parental leave per child for your wife, with 2 of those years without income for her. And even during this time, you have to be able to manage this regular annuity without stripping yourselves bare. Afterwards, she will probably only work part-time, which will improve the situation again but not bring it back to the current level (I'm neglecting salary increases here since they haven't been realized yet).

As long as you are dual earners, you should plan additional special repayments and actually make them. And the earlier, the better, because through the (compound) interest effect (or rather the absence of such for the amounts repaid early), you will save a lot of interest. And the loan will be paid off faster, which will also benefit you. The only important thing: Don’t strip yourselves bare for the financing, otherwise owning your own home will eventually stop being fun.

(And best regards from the 96er to the fan section in Peine-Ost ;-) – but the above post is really meant seriously)