House financing KfW 300 & 124 - please provide an assessment

I stopped reading at the set costs for the kitchen of 5000€... Save for a few more years and then at 35 years it will look much better. Maybe there will also be another low interest rate phase that will play into your hands. Alternatively, an apartment. Unfortunately, a house from the 50s also exceeds your budget.

What about your wife? She won’t be working with the child at first?! What is planned there? Does she have any training? …… Your calculation for the new build includes figures from 15 years ago. Which house provider will build something for you for €270,000? What does the construction service description include, what has to be provided by the builder?

My wife will work as a social pedagogical assistant as soon as possible. There is a provider. Since I have not yet received a concrete offer or cost estimate, I would prefer not to mention the name for now. (House with technology list price €214,000, 100 m2)

Sorry, but that is nonsense. Surely you need a car with a child.

I have a second car and no obligations like loans etc. I have already taken mobility costs into account.

How are you calculating? I would come to a higher rate.

A few Excel formulas (RMZ) *An interest-only year was ignored in the calculation.

I stopped reading at the kitchen costs set at €5,000… Save a few more years and then at 35 it will look much better. Maybe another low-interest phase will come that plays into your hands. Alternatively, an apartment. Also a house from the 50s unfortunately exceeds your budget.

Well, apparently you did not stop reading. Have you heard of the Ikea kitchen? Only the fridge is missing, the rest is already available.

Since I have not yet received a concrete offer or cost estimate

Yes, it reads as if you have just started looking up some numbers on the internet and added them together. Unfortunately, it’s not that simple.

I would first rather not mention the name. (House with technology catalog price €214,000, 100 m2)

If you don’t want any help, then stick to your vague statements. Catalog prices simply do not include the full costs. If you want help and want clear numbers, at least to get an idea of where building a house and house costs are headed, then you have to define something. Some can say something about all the cheap providers. What is always clearly added are the works usually in the five-figure range. Connecting the rainwater often costs over €5,000, and so on. You simply can’t put that all together if you don’t get into the matter. Even the €5,000 for outdoor facilities is just the material price for the final material. I read nothing about own work. Besides, you also forget that the additional costs for a house—trash, sewage, and so on—are higher than for an apartment. Electricity costs do not disappear but increase significantly.

I have a second car and no obligations like a loan, etc. I have already taken mobility costs into account.

Oh, a second one too?! And you don’t pay any taxes, insurance, inspections, or repairs? None of that is factored into your meager figure of €75. No savings for replacements either.

Ever heard of the Ikea kitchen?

There are plenty of builders here who have gotten themselves an Ikea kitchen. But roughly speaking, you won’t get far below €10,000 including installation or appliances.

Yes, it reads as if you just started looking up some numbers online and added them up. Unfortunately, it’s not that simple.

So far, I have had discussions with 11 providers. I have appointments with 3 more. My Excel sheet contains all items (from surveying to ventilation system) and the prices from 11 providers are entered there. So I didn’t just search for the numbers somewhere on the internet.

If you don’t want help, then stick to your vague statements. Catalog prices simply don’t include the full costs.

Yes, that’s why I have calculated several items and thus created total costs for myself.

What clearly always comes on top are the earthworks mostly in the five-digit range. The rainwater connection usually also costs over €5000, etc.
You really cannot figure all that out if you don’t get into the matter. Also, the €5000 for exterior work is just the material price for the final material. I don’t read anything about own labor.

I am aware of the earthworks; I don’t want to estimate that excessively without a geotechnical report. Exterior work was estimated low because at first no special wishes etc. are assumed, just what’s necessary. The rainwater connection will not be done. Rainwater is absorbed on the property. I don’t see the roof area as so critical.

Furthermore, you forget that the ancillary costs for a house—waste, sewer, and co—are higher than for an apartment. Electricity costs don’t disappear either, but increase significantly.

Well, about 90% of that I pay as a tenant in ancillary costs. Electricity does not disappear, of course, but a photovoltaic system will be installed. For a KfW-subsidized energy-efficient house, I don’t expect that much heating cost... (underfloor heating, air-water heat pump)

Oh, also a second one?! And you pay no taxes, insurance, inspections, or repairs on that? None of that is priced into your meager figure of €75. No savings rate for replacements either.

Yes, because I will soon sell the expensive car. Inspections etc. are covered by a maintenance contract.

There are plenty of builders here who have afforded an Ikea kitchen. Roughly estimated, you won’t get far under €10,000 including installation or appliances.

I’ll do the installation myself; we’re not looking for such luxury.

Since I have not yet received a concrete offer or cost estimate, I would prefer not to mention the name for now. (House with technology catalog price €214,000, 100 m2)

You can go ahead. Nothing will happen. So it could also be a Town & Country Raumwunder 90 with 00qm area for the price. But there will be significant surcharges on top. Just the step up to KfW 40 becomes really expensive there. However, this applies to all providers. And please don’t forget that with many providers "turnkey" is not to be confused with "move-in ready." The difference is often that all floors (except bathroom/hallway/kitchen) as well as painting work are still missing. Just to give an example. Take the chance that you can write here completely anonymously. Here you get advice completely free that might help you to crash your financial life.

There are enough builders here who have bought an Ikea kitchen. But including assembly or appliances, you don't get far with roughly 10,000.

We are currently planning a new kitchen due to renovation. We are currently at Ikea with €11,000, Kitchen Studio 1 €16,800, Kitchen Studio 2 €13,700 (with significantly less equipment than Kitchen Studio 1). We are not planning a luxury kitchen, just something practical and solid.