House Construction - What is financially feasible?

Hello experts,

I, or rather we, have not been dealing with the topic of housebuilding for very long. The fact is we would like to, now the question arises what is financially feasible.

A few key data points: My income is about 2500 euros net. Currently, we pay a little over 500 euros rent and I still have a loan running, which costs 300 euros monthly, but it is about to expire.

I have two matured building savings contracts, a small one with about 22,000 euros and a "larger" one that is about to mature, value: 50,000 euros. (The small one has been matured for a while and funded with 15,000 euros, the large one is then funded with about 20,000 euros.)
I have cash available in the amount of about 25,000 euros. (Iron reserves already deducted.)

So, now it gets interesting, what counts as personal contribution? Only the savings from the building savings contracts or the value of both contracts?

Our building project should definitely not exceed 200,000 euros. We are thinking of a prefabricated house with a maximum of 150 sqm, but probably turnkey, or almost turnkey. (Handyman skills are not really there.)

A plot of land is already available with 800 sqm, value about 55,000 euros, fully developed.

I want to handle the financing alone with my salary, I have planned the monthly rate to be 800-900 euros. From my girlfriend’s salary as long as she works, possibly special payments could be made.

What do you think, is the project feasible like this?
As I said, I think I don’t have much "personal contribution," since a new car will also be due sometime (mine is 8 years old) etc. etc.
I am quite unsure whether I have even understood the personal contributions correctly.

Oh yes, one more important thing: I am 30 years old and don’t want to pay off the house until I’m 60 and have to turn every cent five times.

How do you see the whole project?

Hello,

arg - Webby, please remember the obligation to state the user's place of residence!

Our construction project must by no means exceed 200,000 euros. We are thinking of a prefabricated house with a maximum of 150 sqm, but probably turnkey, or almost turnkey. (We are not that skilled handicraft-wise).

At the beginning of my sentence - where are you from and where do you want to build?

A solid single-family house of 150 sqm/living space on a slab and KfW 70 costs in NRW about 233,000 euros, in Bavaria about 248,000 euros and in the north/east about 203,000 euros; turnkey, i.e. usually without floor and wall coverings.

A prefabricated house costs round about 10% more, if it is to be a reputable supplier.

In both cases, additional construction ancillary costs have to be added; for you - since you already own the plot of land - costs amounting to 35,000 euros. Plus costs for painting work and floor coverings, outdoor facilities, garage/carport and a 10,000 euro reserve for extras.

Either way, you will not get away with 200,000 euros all in.

Rhenish regards

Comes from Bavaria. Hmm... Well, with a max of 150sqm I probably expressed myself a bit "poorly". I would prefer around 125sqm. That would be the size that suits me best. Upwards, then the question would be about the money. What do the additional construction costs of 35,000 euros consist of? 125sqm should be doable with 200 - 215 thousand euros, right? And the most important question: Do you think the bank will cooperate? Based on the key data for now... And the question about the building society savers would also be interesting....

Hello,

What do the incidental building costs of 35,000 euros consist of?

Take a look here:

But 125 sqm should be doable with 200 - 215 TEUR, right?

Depending on where in Bavaria you want to build, it will cost you about TEUR 200-206; excluding the capital city and celebrity areas.

And the most important question: Do you think the bank will cooperate? Based on the key data now.... .
And the question about the building society savers would also be interesting....

Not my area; my business is exclusively house construction. Keeping up to date here is time-consuming enough without bringing financing into the equation; I’m not a fan of being a jack-of-all-trades. But I’m sure the users here will answer you on that topic.

Rhenish greetings

Ok, maybe one of the users will still get in touch.
Thanks for now!!

Hello,
Have a look here:
Depending on where in Bavaria you want to build, it will cost you about EUR 200-206k; excluding the capital city and celebrity areas.
Rhenish regards

=>plus the EUR 35k ancillary building costs, did I understand that correctly?
That adds up to a lot of cash, my dear. Well, somehow it will work out. Everything is already quite expensive for such a "little" house...

Oh, other costs come up very quickly. Outdoor facilities, new furniture, kitchen, lamps, garage or carport, sampling buffer...