Massive house costs KFW 70 - Prefabricated house

Hello,

But I think / hope I can calculate less because ...

Not really and .... you can believe that in church :D

They don't get ventilation in the granny flat....

You should reconsider that carefully!

You want to definitely rent out the granny flat, possibly also take advantage of tax benefits? Now imagine you have put a lot of money into it (it's not exactly little that you want to shoulder), you are lucky and quickly find a tenant. Then this tenant is not there during the day, possibly depending on age - also away on weekends or - another possibility - frequently traveling for work. So there is no one to regularly ventilate and sooner or later moisture builds up in the usual spots. How long do you think it will take until rental disputes begin?

We can't afford more than 360,000 Eur??

There is no reason for you to look at your shoes! EUR 360,000 is a lot of money, as I said before.

Take a look at the following ancillary cost list; it can be roughly applied nationwide:

1. Property

5% property transfer tax - varies by municipality
possibly broker fees, approx. 3.5% of the property price, varies by municipality
approx. 1.5% notary fees, calculated from the property price
3 x entry in the land register (1. pre-notation of conveyance, 2. transfer of ownership, 3. registration of the mortgage)

2. Financing

Possibly advisory/closing costs for financing, approx. 1.5% of the total loan amount
Approx. 0.25% commitment interest, measured on the loan amount

3. Construction preparation

Approx. € 2,800 - € 3,200 surveying services (qualified site plans / height survey / staking out / building survey)
Preparation of soil report, approx. € 1,200
Provision of connections for construction water / construction power, approx. € 6.00 - € 8.00 daily rental for standpipe, approx. € 300 rental 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

3. Earthworks

Removal of excess soil (normal ground conditions) at basement, approx. € 1,500
Internal development (waste/rainwater pipes), approx. € 2,500 – depending on pipe route
Inspection shafts, soakaway or infiltration shaft, approx. € 1,900 - € 2,200
Reserve for additional foundation costs approx. € 8,000

4. Utility connection costs

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

5. Fees

Acceptance of drainage line, approx. € 150 - varies by municipality
Chimney sweep (acceptance of chimney / gas system - note: fee is charged twice), approx. € 200 - varies by municipality
Cadastral office (transfer of surveyor data into property map), approx. € 150 – varies by municipality

Total approx.: Euro 35,000 – 40,000

Important: The above list does not include costs for painting work, floor coverings, and landscaping!

It makes no sense to "blow your own trumpet" and end up with a nasty awakening. In this context, you should also weigh the answer from Meecrob - who certainly meant well - carefully. He bought an existing property, his costs are still to come; with a new build, you have these costs all upfront.

However, I would also advise you to reconsider your financing; I am not a specialist but know from my job that for most builders the monthly burden is decisive. Paying off only 1% over 30 - 40 years, I do not consider the ideal solution; what if, for example - which I definitely wouldn’t wish you - health problems arise on the way?

Find yourself - before you have further talks with your architect, a serious and independent financier. Talk to him and ask him to name your maximum financing limit. Then you know exactly where "end of the road" is called and can work out the best possible financing for you together with the financier, which should also put you in a position not to panic in case of a broken washing machine ;) Give yourself leeway; better to build smaller!

Next you should inform your architect about your self-imposed financing framework. If he is good, he should be able to come up with a sensible and also creative plan within this framework. He should also be able to roughly calculate it so that you get a first reference point.

Equipped like this, you can ask the providers you like to submit an offer and calmly review the incoming offers and quotes. If you don't trust yourself to do this, invest a few hundred euros and have them checked externally.

As you are currently going about it, you will not be safe from surprises. Oh yes - my predecessor "Der Da" is also right; you also need reserves for the "extras" outside the kitchen and furniture ;)

Best regards

Thank you for your comments.....

but how much more money am I supposed to spend....that can't be. I have to get a house for that money.

We have already calculated everything with the finances, that's why it's 1500 Eur / monthly.

Of course, it is also possible that we only do a 10-year fixed interest period and get a better interest rate (pay less per month) but then after 10 years we will have to sell.....

Also, I can't factor everything in, if I get so sick we have to sell or if I become unemployed......that's how we see it.

There aren't that many financing options......we have to pay 1% repayment and that's always, no matter how you calculate it, 1400-1500 Eur per month depending on the interest rate.

My mother gets the rent of the granny flat for 8 years....for the land so that it is fair for my brothers. After 8 years we get the rent and also during the baby break. That's how it looks. That's why we will have more money later. There is an extreme housing shortage with us. So always rented, Baden-Württemberg - Rems-Murr-Kreis......

Rems-Murr district......

Haha, I grew up in WN :D

So, we pay just under €1000 per month and are building a prefabricated house in the Palatinate.
Let’s leave out the land.

We pay:
€200,000 for the house itself, without a basement on a slab foundation. That includes everything except floor and wall coverings. Some extras are already included as well. We have a very detailed construction specification where everything is described in detail.
We plan for:
€10,000 garage
€10,000 ventilation system
€30,000 incidental building costs. Originally €17,000 in the offer, now already increased because we have to raise a completely flat plot a bit. And gravel costs a lot of money. Earthworks always cost more than you plan :D
€10,000 exterior landscaping
€5,000 house extras during sample selection
€10,000 floors and wallpaper
€20,000 buffer
Altogether €275,000 + buffer. The buffer is intended for kitchen and furniture, if anything is left.
With this we get a house with a knee wall of 1 m on the upper floor with almost 150 sqm of living space from one of the more expensive prefab house manufacturers (they also install solid wood panels in the walls).

You see, for €300,000 you can already get a house. You just have to start small.
Our premise was: It must be affordable with one income. Currently, we both earn >€2000 net, but with kids that can quickly decrease.

Haha, I grew up in WN :D

So we pay just under €1000 per month and are building a prefabricated house in the Palatinate.
Let's leave out the land.

We pay:
€200,000 for the house itself, without a basement on a slab foundation. That includes everything except flooring and wall coverings. Some extras are already included. We have a very detailed construction service description where everything is described in detail.
We are planning for:
€10,000 garage
€10,000 ventilation system
€30,000 ancillary building costs. Originally €17,000 in the offer, now already increased because we have to raise a completely flat plot of land a bit. And gravel costs a lot of money. Earthworks always cost more than you plan :D
€10,000 outdoor facilities
€5,000 house extras during the sample selection
€10,000 flooring and wallpaper
€20,000 buffer
Together €275,000 + buffer. The buffer is then meant for kitchen and furniture, if anything is left.
This gets us a house with a 1 m knee wall on the upper floor with just under 150 sqm of living space from one of the more expensive prefabricated house providers (they also install solid wood panels in the walls).

You see, for €300,000 you can already get a house. You just have to start small.
Our premise was: It has to be affordable with one salary. Currently, we both earn >€2000 net, but with kids, that goes down very quickly.

Thanks, that already sounds very good :-) then we should manage that with the €360,000....... I mean, we don't have extremely high demands either, a completely normal house....

Cool, then we're building in Remshalden / Rohrbronn :-)

For us, it’s not doable with one salary, but we know that. But it’s not so bad if she drops out because I earn more.....

We have already calculated everything with the finances, that's why the 1500 Eur / monthly.
Of course, it is also possible that we only do a 10-year fixed interest period and get a better interest rate for that (pay less per month) but then after 10 years we have to sell it.....

That's not the point. Whether you get 3.5% or 4%, it makes 200€ monthly difference. Still too much. I find a rate of more than 1000€ unfavorable with your income.
More problematic is the missing equity in the form of cash.
50,000 EUR equity on a total of 440,000 EUR is too little!

Also, I can't calculate everything in; if I get so sick then we have to sell it or if I become unemployed......that's how we see it

I see it similarly, but you are financing at the pain threshold. You should have a little breathing room. I pay 900€ rate. We can both manage that alone.

There aren't many financing options......we have to pay 1% repayment and that is always, no matter how you calculate it, 1400-1500 Eur per month depending on interest.

-> The house must be cheaper.

Wait, you have to pay out your aunt (so half of the property) and who will build next door then? Your mother?

That means you don’t have the property for "free" but are basically buying the property from your aunt, right?

How do you then come to calculate the property as equity? Or did I miss something?

Regardless of whether a bank gives you a fixed interest rate for 30 years, the question is whether it’s financially worthwhile! You pay so much interest, in the end when you are really debt-free you will have easily paid 700,000+ to the bank.. I assume you won’t get an interest rate below 4% with 30 years and poor equity ratio.. so the 1500 are rather tight calculations!

And what you shouldn’t forget: the first bigger repairs will be due after at most 20 years... and then you have to refinance again... and then you run the risk at some point that the residual value of your house is less than the debt at the bank and they then demand more securities or raise the interest rate!

Again, to maybe clarify the whole thing:

How much equity do you have (whether in the form of land or money doesn’t matter)?
How much do you want/have to finance?
What is your/your monthly income? (if that’s not too personal, but then one could better see the whole thing in relation)