Limited budget - New construction or complete renovation?

Hello to you experts,

we are currently facing the big question:

Building a house - yes or no!?

In general:
We have a budget of around 170 - 180 TEUR.

Our community offers plots between 398 - 1200 sqm at 65 sqm. So for a plot we like, the costs are 38,700 €, fully developed.

If I assume a house costing 170 TEUR, can I save 30 - 40 TEUR through personal work?
We could definitely do the following ourselves: painting (wallpaper), tiles, interior doors, exterior doors and windows.

Or in other words,
what could be cheaper? The package from a construction company or contacting local companies ourselves?!

In general: It should not be about every cent, we have a buffer that is not included here, I just want to go through all alternatives.

Thanks to you!

Questions always welcome!

Hello,

I don't think that's enough.

We are planning a simple solid house (urban villa), 120-125m² for about 167K€ + sampling costs 10K€ + land 43K€ + purchase + ancillary construction costs 30K€ + floor coverings/wallpapers 5-10K€, outdoor facilities 10-15K€.
You might save a bit through personal work and a different design (1.5 floors), but there isn't much room to maneuver, because although you save labor costs through personal work, you lose out again on material prices and the double burden of rent.

The prices do not include a basement, garage/carport, Kfw standard, kitchen, or other furnishings.
Still, we end up at about 270K€.

On Bauexperte, you will find in many posts a compilation of how the ancillary construction costs are composed.

Regards Musketier

Thank you for your response.

It’s incredible what sums add up there. The "idea" came because a married couple of friends is currently building for 190,000 EUR including land and incidental costs (and for example also with underfloor heating and a walk-in closet), so not at the "minimum" either...

Who or what is "Bauexperte"?

Greetings from the Südheide

Construction expert is a moderator

Here is a listing from her website.

1. Land/Bplot

[*]5% real estate transfer tax - varies by municipality
[*]possibly broker fees, approx. 3.5% of the land price, varies by municipality
[*]approx. 1.5% notary fees, calculated on the land price
[*]3 x entry in the land register (1. priority notice of conveyance, 2. transfer of ownership, 3. entry of the mortgage)

2. Financ[in]g[/in]

[*]Possibly consulting/closing fees for financing, approx. 1.5% of the total loan amount
[*]Approx. 0.25% commitment interest, measured on the loan amount

3. Construction preparat[in]g[/in]

[*]Approx. €2,800-€3,200 survey services (qualified site plans / elevation survey / staking out / building survey)
[*]Creation of soil report, approx. €1,200
[*]Provision of connections for construction water / construction power, approx. €6.00 - €8.00 rent for standpipe/day, approx. €300 rent for construction power meter
[*]Fees (for house number, drainage permit, building permit), approx. €1,000 – €1,500, varies by municipality
[*]Fire / builder’s liability insurance approx. €80 - €150/year, depending on insurance company

4. Earthwork

[*]Removal of excess soil (normal soil conditions) for basement, approx. €1,500
[*]Internal development (wastewater/stormwater pipes), approx. €2,500 – depending on pipe routing
[*]Inspection shafts, soakaway or infiltration shaft, approx. €1,900 - €2,200
[*]Reserve for additional foundation costs approx. €8,000

5. House connection costs

[*]Electricity/gas/water/telecom, connection to the sewer, approx. €8,000 - €8,500 - varies by municipality

6. Fees

[*]Acceptance of drainage pipe, approx. €150 - varies by municipality
[*]Chimney sweep (acceptance of chimney / gas system - note fee charged twice), approx. €200 - varies by municipality
[*]Land registry office (transfer of surveyor’s data to the cadastral map), approx. €150 – varies by municipality

Total approx.: [B]Euro 35,000 – 40,000

Hello,

In general:
We have a budget of around 170 - 180 TEUR.

Sounds like "a lot" and is certainly hard-earned/financed money; nevertheless, it will not be enough – not even in Lower Saxony.

Our municipality offers plots between 398 - 1200 sqm at 65 sqm each. So for a plot we like, we have costs of 38,700 €, fully developed.
If I assume a house costing 170 TEUR, can I save 30 - 40 TEUR through personal work?
We could definitely do the following ourselves: painting (wallpaper), tiles, interior doors, exterior doors, and windows.

If you assume 170 TEUR – with the vast majority of providers, the flooring and painting work is not included – you get a little house of about 120 sqm/living space on a slab foundation. A normal energy-saving ordinance house, no efficiency status.

But this calculation is wrong; correct is:
Budget: 180 TEUR
Plot: 39 TEUR
Additional building costs: 35 TEUR
Outdoor facilities: 15 TEUR
Painting/flooring work: 10 TEUR in personal work
Extras: 10 TEUR (minimum)
-------------------------------------

Remaining for the dream of your own home is a whole 71 TEUR; that gets you 50 to 51 sqm of built living space or half a shell construction.

Kind regards

Hello,

The "idea" came up because a married couple of friends is currently building for 190,000 EUR including land and incidental costs (and for example also with underfloor heating and a dressing room) so not at the "minimum" either...

How many months of unemployment benefits are included in these costs?

Kind regards