Is a bungalow in Walldorf feasible within our budget?

Apart from the whole bungalow discussion:

- You will pay less property tax, as property tax is only paid on the "bare" land price. Hopefully, your €252k includes development and other charges, which are not taxed.

- Am I the only one who feels uneasy about a loan of €560k and initially less than €5k (you still have to repay BAföG and co) with 2 full earners?

Our household income is the same. However, we have 2 children and have already spent more than €22k just for childcare until the age of 6. We took out €420k and already find the rate of €1600 (3% repayment) plus ancillary costs of €450 (estimated) quite a lot, although we live very frugally.

And you want to add another €140k on top! How high is the repayment rate then? It must be below 2% with a rate of €1650. For me, the project is too ambitious despite the equity. It may be that a bank finances this, but relaxed is something else.

- Am I the only one who feels uneasy about a loan of €560k and initially less than €5k (you still have to pay BAföG and so on) with two full earners?

I also think that’s way too much debt, especially since there are no children yet and you can hardly say anything about future income; costs also increase enormously with children. Moreover, I don’t believe you can get a 100sqm basement apartment including a granny flat (kitchen, bathroom) for €70,000 – here, you already pay that much for a regular utility basement of that size. It will certainly be cheaper if you build a small 1.5-story house without a basement and granny flat.

Best regards
Sabine

I would rather sleep in the basement myself than let my little children sleep there. Children spend much more time in their room than parents usually do in their bedroom.
Best regards
Sabine

Yes, of course, I see it that way too. But there are also many ways to make it brighter, it doesn’t really stay a basement and if there is a necessity, which I assume, then it is feasible.

- Am I the only one who has a stomach ache at a loan of €560k and initially less than €5k (you still have to pay back BAföG and so on) with 2 full earners?

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I was surprised by that too. Therefore, the original poster might also want to rent out the lower level to have additional income?
It’s really difficult, the plot is just too expensive and then he tries to save on the house...

Yes, of course, I see it that way too. But there are also many ways to make it brighter, it doesn’t really remain a basement, and if there is a necessity for it, which I assume, then it is doable

...

The problem lies in the difference between a basement apartment and a cellar. And if you plan a light well on one side, it has to be big enough to convert the cellar into a living space, to accommodate a staircase, and then on 450 sqm. Then there is very little garden left, especially if parking spaces also have to be created. In my opinion, the project is too expensive for that, if it can even be squeezed in at all.

Edit: and if I take a quick look at the development plan in Walldorf-Süd, I see that two-story buildings are mandated!

Again about your numbers:

House 200,000 € depending on the house. Definitely not for a Kfw 40+ house. Just the storage + photovoltaic system will cost you 25k€. Then another 45k€ for heating technology. Electrical 15-20k€, stairs 5-10k€, screed 5k€, windows, doors, shutters 25-30k€. Roof 30k€. Exterior/interior plaster 30k€, 10k€ bathrooms absolute standard.

You are left with 0€ for the shell construction.

Regarding your additional costs of 10%, I include earthworks/drainage.

Basement 70,000 € As an annex apartment, I see all-inclusive rather 100k€.
Painter + flooring 20,000 € Is too little. Possible as own work.
Sampling 10,000 € Sampling for 3 bathrooms and electrical for 2 units? No way.
Garage 15,000 € + 5k€ as prefabricated garage.
Pool 15,000 € Will be dropped. If the price list comes.
Terrace 10,000 € fits.
Driveway 5,000 € fits.
Fence + garden 5,000 € fits.
Additional building costs 10 % 27,000 € fits.

Well, the 5000 euros for the fence and garden... I don’t know. We ordered a garden shed for just under 3000 euros the day before yesterday, and the entire foundation is still missing. With 5000 euros, you don’t get very far with the outdoor facilities.

Best regards
Sabine