Bubb
2011-05-15 16:27:11
- #1
Hello everyone,
As a complete layman, I would need something like a rough schedule for building a detached single-family house.
Until about three weeks ago, I hadn’t even considered building a house in my wildest dreams, until my wife was once again browsing “Immoscout” one evening in the hotel room during a business trip.
Although this had happened more frequently over the years, there was a natural obstacle here in and around Munich that had protected me from such adventures as buying real estate: “THE PRICE LEVEL.”
What was new this time with my wife was that she was surfing for plots of land – and as fate would have it, a plot was offered just one place away from us, right in a beautiful, quiet residential area.
It was previously the garden area of an older detached single-family house. The plot was divided and sold due to generational reasons.
Building permission is available, fully developed, etc., and before I really knew what was happening, I was standing there on a garden meadow on a Saturday with my wife and the realtor, a piece of land that somehow had the quality of pulling my saved money right out of my pocket.
I had never intended to get into debt for a house and to give up almost everything else for 30 years as my parents did.
A prerequisite for me was that we could pay the plot “in cash,” and when the seller found out that we did not need financing for the plot, he gave us almost 25,000 euros off the price, and I had already lost – the plot was purchased a few days later.
He was interested in a very quick transaction.
The current state of affairs is: money gone (a little more than 300,000 euros) – plot owned.
Meanwhile, I am also convinced that in our case it is better to own rather than rent, since we are paying almost 1,900 euros/month including utilities for our apartment.
Just one day later, I went to a house exhibition to gather information.
My first impressions were rather unpleasant. As soon as some sellers found out that a plot was available, the “hard sell methods” were used, appointments, intensive talks, etc., and I felt extremely pressured, which I also told them very bluntly.
Everyone is the best, everyone has the best product, everything is individual, etc.
With other providers, I was met with great arrogance because I was apparently standing there in jeans and a polo shirt. Just four days later, when I came out of the office wearing a suit, they were sucking up and offering drinks and snacks (same sellers).
What is certain for us, however, is that we need a developer.
The house should be solid with a basement (about 160 sqm excluding basement area) and must be built with as little own effort as possible, since we have little experience in craftsmanship.
For us, one option would be “completely finished basement and ground floor,” and the upper floor can be developed later.
The questions now are how to proceed?
Secure financing first (about 350,000 euros) and then look for a developer? (Problem: Banks want information about the house, which does not even exist in planning yet, e.g., enclosed space, sqm according to “DIN something,” etc.)
Or have a house planned first and then deal with financing?
We have quite concrete ideas about the house/layout/room divisions (gable roof 35° - 38°, knee wall 70 cm, and building window are legally specified).
How should one approach developers? Do they already plan a complete house without a contractual basis? (Plans, development plans, etc., are all available)
Are the sellers professionals or “just” salespeople?
Do you take one plan and then visit several developers or does each one create their own plan/layout?
Do you get the floor plans?
Can you take construction service descriptions with you before signing and compare them? (Selection of materials before signing, I want to know beforehand what things we are buying)
How many meetings are there on average? How transparent are the cost breakdowns of the individual items? (Basement, architectural services, sanitary, electrical, etc.)
What is common and what is rather unusual? (Receiving plans, cost transparency, which companies are employed, etc.)
What must you agree to and what definitely not?
Where should alarm bells ring, or what are signs that you should end a conversation and say goodbye? (e.g., sign first, you can cancel later free of charge, *head shaking)
Most providers quote a price per sqm, e.g., 1,700 euros (that would include everything), which I find too general, even if these are average values.
I am very grateful for your help.
Best regards
Bubb
As a complete layman, I would need something like a rough schedule for building a detached single-family house.
Until about three weeks ago, I hadn’t even considered building a house in my wildest dreams, until my wife was once again browsing “Immoscout” one evening in the hotel room during a business trip.
Although this had happened more frequently over the years, there was a natural obstacle here in and around Munich that had protected me from such adventures as buying real estate: “THE PRICE LEVEL.”
What was new this time with my wife was that she was surfing for plots of land – and as fate would have it, a plot was offered just one place away from us, right in a beautiful, quiet residential area.
It was previously the garden area of an older detached single-family house. The plot was divided and sold due to generational reasons.
Building permission is available, fully developed, etc., and before I really knew what was happening, I was standing there on a garden meadow on a Saturday with my wife and the realtor, a piece of land that somehow had the quality of pulling my saved money right out of my pocket.
I had never intended to get into debt for a house and to give up almost everything else for 30 years as my parents did.
A prerequisite for me was that we could pay the plot “in cash,” and when the seller found out that we did not need financing for the plot, he gave us almost 25,000 euros off the price, and I had already lost – the plot was purchased a few days later.
He was interested in a very quick transaction.
The current state of affairs is: money gone (a little more than 300,000 euros) – plot owned.
Meanwhile, I am also convinced that in our case it is better to own rather than rent, since we are paying almost 1,900 euros/month including utilities for our apartment.
Just one day later, I went to a house exhibition to gather information.
My first impressions were rather unpleasant. As soon as some sellers found out that a plot was available, the “hard sell methods” were used, appointments, intensive talks, etc., and I felt extremely pressured, which I also told them very bluntly.
Everyone is the best, everyone has the best product, everything is individual, etc.
With other providers, I was met with great arrogance because I was apparently standing there in jeans and a polo shirt. Just four days later, when I came out of the office wearing a suit, they were sucking up and offering drinks and snacks (same sellers).
What is certain for us, however, is that we need a developer.
The house should be solid with a basement (about 160 sqm excluding basement area) and must be built with as little own effort as possible, since we have little experience in craftsmanship.
For us, one option would be “completely finished basement and ground floor,” and the upper floor can be developed later.
The questions now are how to proceed?
Secure financing first (about 350,000 euros) and then look for a developer? (Problem: Banks want information about the house, which does not even exist in planning yet, e.g., enclosed space, sqm according to “DIN something,” etc.)
Or have a house planned first and then deal with financing?
We have quite concrete ideas about the house/layout/room divisions (gable roof 35° - 38°, knee wall 70 cm, and building window are legally specified).
How should one approach developers? Do they already plan a complete house without a contractual basis? (Plans, development plans, etc., are all available)
Are the sellers professionals or “just” salespeople?
Do you take one plan and then visit several developers or does each one create their own plan/layout?
Do you get the floor plans?
Can you take construction service descriptions with you before signing and compare them? (Selection of materials before signing, I want to know beforehand what things we are buying)
How many meetings are there on average? How transparent are the cost breakdowns of the individual items? (Basement, architectural services, sanitary, electrical, etc.)
What is common and what is rather unusual? (Receiving plans, cost transparency, which companies are employed, etc.)
What must you agree to and what definitely not?
Where should alarm bells ring, or what are signs that you should end a conversation and say goodbye? (e.g., sign first, you can cancel later free of charge, *head shaking)
Most providers quote a price per sqm, e.g., 1,700 euros (that would include everything), which I find too general, even if these are average values.
I am very grateful for your help.
Best regards
Bubb