Is buying a house for a maximum of €350,000 realistic?

After we had the first conversations, we gradually got a better feeling for the actual costs. Due to the costs, we have actually abandoned the idea of building a basement and want to create more living space "upstairs."

Our current plans are as follows:

Plot €243,000 including incidental purchase costs (already acquired)

Photovoltaic system €20,000 (mandatory in the new development area)
Additional construction costs €40,000
Outdoor facilities with garage and garden €40,000
Kitchen €10,000

If we want to stay within our planned budget of €700,000 (which was adjusted upwards), we would still have €350,000 left for a 160-170 m2 house with a slab foundation.

Whether that will be enough will be shown by the offers. We will meet with various companies in the coming weeks and hope for the best.

I find 20k for the photovoltaic system extremely expensive! Or how large is it supposed to be?

I find 20k for the photovoltaic system extremely expensive! Or how big is it supposed to be?

The photovoltaic system must cover 80% of one side of the roof.

Oh yes, we also want to handle the garden and the outdoor area ourselves, as well as laying the floors and painting the walls. We hope to manage with around 30,000€ in the garden area as well, so that there is slightly more leeway for the house.

How do you see the breakdown?

The kitchen is very reasonably priced for that. I'm keeping my fingers crossed for you, the budget that remains is, in my opinion, really tight.

After we had the first talks, we slowly got a better feeling for the actual costs. Due to the costs, we actually abandoned the idea of building a basement and want to generate more living space "above."

Our current plans are as follows:

Plot of land €243,000 including incidental purchase costs (already acquired)

Photovoltaic system €20,000 (mandatory in the new development area)
Additional construction costs €40,000
Outdoor facilities with garage and garden €40,000
Kitchen €10,000

If we want to stick to our planned budget of €700,000 (which was adjusted upwards), we would have €350,000 left for a 160-170m² house with a slab-on-grade foundation.

Whether that will be enough, the offers will show. We will meet with various companies in the next few weeks and hope for the best.

The photovoltaic system at €20,000 sounds realistic, as do the additional construction costs.

Outdoor facilities with garage and garden for €40,000 --> Here is the question: Are the outdoor facilities completely DIY or do you want to have them done?
A double garage with foundation costs about 25k, so you have a rough reference here as well. Of course, it depends on whether you want that. Then there would be 15k left for outdoor facilities with a garden. You can barely manage that for 15k with DIY.

Kitchen €10,000 --> steep, but doable if it is a very small kitchen without much frills. €15,000 would be much more realistic there.

And now you can of course really just hope to get a house with 160m² for €350,000, which I unfortunately doubt.
I suspect that you will only get something where you have to make many compromises in quality. We also have some builders in the new development area who are building with a "regional budget provider" to save €30,000. The question is often whether it is worth it... But yes, if the budget doesn’t allow more, it is naturally difficult.

In any case, I wish you all the best and hope that you can manage your dream of owning your own home!!

btw. how do you come up with the budget? Maybe a bit more is still possible? If you need help with financing etc., feel free to start a thread.

We have already received a few offers from smaller GUs and for €350,000 (excluding additional costs, cellar) we get:
- 140 sqm bungalow + 11 sqm covered terrace (KFW 55, 25-degree hipped roof)
- brine-water heat pump
- controlled living space ventilation
- room height 3m
- nice entrance area
- photovoltaics with 9.9 kWp
- foiled windows
- chimney draft
- rainwater cistern
- aluminum roller shutters operated by remote control.

But it’s Brandenburg. No idea how the prices are with you. For €350,000, quite a lot should be possible. However, a cellar will be difficult.