No idea what the 12K refer to. For us, as mentioned, it would have been a full story height, and at least there, the layer-by-layer compaction, resisting earth pressure using earth pressure beams, drainage for hillside water, etc. were considerably more expensive. Even if it would be cheaper for you: you then have to provide a technical room on the ground floor as well as an attic - both of which are unnecessary if you cleverly integrate a basement with partial living space. Apart from that, what are you going to do with the height difference to the terrain in the current version? The patio doors would then be about 1.6m too high. You have to deal with that somehow (balcony, stairs, or filling up), which of course also costs money. Next point: 15% or 1m slope towards the house is actually not a very good idea if you think about a heavy rainfall... especially not with timber frame construction. That would also need to be taken into account, again for some small change. Of course, you should stay above ground: basement/cellar raises the ground floor and entrance to street level (possibly slightly above). The basement is a cellar in the direction of the slope, living space towards the valley. The attic is omitted.