Is it possible to reduce the size of the house after the financing is completed?

Hello everyone,

the following situation:
We have now submitted a building application and have a cost calculation for it. However, we want to reduce the house by 1 meter again, which will save us another €60,000. [DS] will then be submitted later as a [Tektur].
Due to inflation, I am very nervous about the loan and would like to finalize it as soon as possible. Could I do this based on the current status and factor in the savings as security, or is that a problem for the bank since the house would then be worth less than stated? The loan-to-value ratio is 75% and €460,000 or then €400,000.
Replanning with our architect always takes forever and it will probably be another 6 weeks before I have all the documents.

Since the object is changing drastically, you will have to go to the bank again.

Whereby I still do not understand how 1m brings such a big saving. It's only a little less concrete, stones, roof beams, shingles, etc.

Hello everyone, Following situation: We have now submitted a building application and have a cost calculation for it. However, we want to reduce the house by 1m again, which will save us another €60,000. DS will then be submitted later via a specification. Due to inflation, I am very nervous about the loan and would like to close as quickly as possible. Could I also do this based on the current status and include the savings as security, or is that a problem for the bank since the house then has less value than stated? The loan-to-value ratio is 75% and €460,000 or then €400,000. Replanning with our architect always takes forever, and it will certainly take another 6 weeks until I have all the documents.

The forum name fits perfectly :cool: I also find €60,000 a bit much. Do you have that in writing? You don’t want to go to the bank, clarify everything, and the BU says, oops, it was only €30,000 after all :-) You usually estimate construction with €2,500 / sqm. However, that already includes things that do not disappear or become smaller when the house is reduced.

Although I still don't understand how 1m can bring such a big saving. It's only a bit less concrete, stones, roof beams, shingles, etc.

On the other hand, you sometimes wonder why small changes are so expensive with some companies. I'm just saying knee wall height increase ;)

The architect's calculation considers m3 of enclosed space, which is significantly more accurate than the m2 consideration. The 1m extends over 3 floors up to the roof and across the full 7m width. That is already noticeable. There is simply a room on the ground floor that we actually don't need, and upstairs we can move things closer together. Given the current developments, it's certainly not a mistake to reduce costs. This has nothing to do with my nickname but is a sad reality we have to face.