Is a 180 sqm house feasible for 300,000 EUR?

Hello,

I have been reading this forum for several weeks now, researching extensively on Google, and have already had some conversations with property developers.

But the more I read here and on the web, the more confused I become.

We are a family of five and want to move out of renting.
We are both employed, I am a self-employed IT consultant, my wife is a teacher.

Actually, we are in quite a healthy financial situation with 6,000 - 7,000 EUR monthly, the only problem is the lack of equity.
Explaining that would go beyond the scope and is not meant to be the topic.

A repayment of 2,500 EUR is possible for us, including insurance, additional costs, sewage, and savings for possible damages.

With that, a considerable repayment would be possible within 30 years – possibly also with funding through KfW, etc.

We have had a few talks from expensive (Kampa) to affordable (Town & Country). Town & Country unfortunately does not appeal to us due to quality reasons, as for example the upper floor consists only of pressboard.

Ok, I'm digressing. First back to the wishlist:

[*]180 sqm living space
[*]6 rooms, one of which should be used as a small study.
[*]Basement or not? A question of money.
[*]We will leave the plot aside for now – but it would be the Berlin area, outside the A10 ring.
[*]Underfloor heating
[*]Prefab or solid building method

[*]No life-consuming legal disputes and rework

We can do some work ourselves, e.g.,
painting work, attaching sanitary objects, laying floors, or tiling.

No driveway, carport or other outdoor facilities for now.
That can wait – finances.

Is something like this feasible in this price segment?
If yes, with whom?

We have Allkauf Haus, Massa Haus, Elk, Elbe, Bären, Helma, Town & Country, Weberhaus, Schwörerhaus, Kampa, Gussek Haus, and Arge in mind.
But the choice of providers is completely open.
We would also like to work with local property developers who have their own staff.
What we have already heard from acquaintances and experienced ourselves regarding the services of companies with unskilled workers, I would rather build myself.

The building project would be in 1-2 years. By then, equity would also be saved up, but certainly no amount over 50,000.

I am grateful for any advice, help, and suggestions.

We have about 180 sqm, of which only 168 sqm are fully developed (rest attic), solid construction, in BW, without land, without basement, without garage (currently), without garden development, without driveway paving, etc. Modern upscale with a few extras but no luxury. 400,000 euros turnkey, without furnishings, without kitchen, furniture, etc. Including architect, development, paperwork, additional costs we then are at 465,000 euros. Including kitchen, furnishings we then are just under 500,000 euros.

Just to clarify... you do still have an extra budget for miscellaneous construction costs and land, right? But even then, considering an annual price increase conservatively estimated at 5%, I think your plan is absolutely out of the question if the quality from Town & Country was already too low for you.

Also, I hope you’re not planning to build near the eastern Berlin ring road. Because Tesla is setting up a plant there next year with 4000 employees. I guess you can imagine what consequences that will have for construction prices in the region.

I have to agree with -XIII- on the question, the 300,000€ was without ancillary construction costs, right?

Why do you want to spend "only" 300,000€ on the house with an income of 6,000€, if you can repay 2,500 EUR over 30 years? I haven’t calculated it, but a higher amount should be possible.

Also tell me more about the plot or potential plots and the costs.

How old are the children, regarding the room concept currently and in the future?

Oops, that was quick, thanks already.

We currently don’t have any equity, right.
No plot of land either.

For now, we just want to get an idea – price-wise.

I know that I have to add the incidental building costs amounting to 50,000 EUR, yes.

Everything is supposed to cost 600,000 EUR, including the land, house, and incidental building costs.
Plots here, with about 700-900 sqm and floor area ratio 0.3-0.4, range between 180 and no upper limit. No, it’s the west.

I want to have most of the money paid off by retirement, yes.

If I use current free loan calculators – so without affecting the score – then with 2,000 EUR monthly, it’s about 33 years.

We’re both 40, the oldest is 12. Yes, he could be out of the house in 8 years, or maybe not. Berlin isn’t far after all.

The now is more important for now, and that needs a total of 6 rooms for everyone.

Why only 2,000 EUR – because I’m building in a decent buffer and don’t want to wake up drenched in sweat every night. Sure, more is possible, but many factors play a role. At some point, the current low-interest project won’t work anymore. Fears, worries, hardships. If I’m the scared one :/

There are other costs as well, food, children, cars. That easily comes to 5k. That’s why for now it’s only with 2.5k warm etc.