Planning, financing, 1. Ideas for new construction

Hello everyone,

After reading along here for quite some time and finding the whole topic of building a house more confusing than clearer for me, I’m just throwing my thoughts into the ring with a request for feedback.

Briefly about the framework conditions:

My partner and I are planning the construction of a new single-family house in the Siegerland.

The financial key data:
Household net income currently about €5400, pretty evenly distributed.
Equity at least €50,000, plus €1000 added monthly. Current cold rent €1000.

We would like to not exceed the budget of €400,000. We could manage that well with about €1250/month in installments + annual special repayments.

Two children are planned. Total parental leave 4 years. During this time we would probably suspend the special repayments. The installment should be manageable with one salary + child benefit.

Does this sound solid or does it give you a bad feeling?

We do not yet have a concrete plot, but we are speculating on a new development area in a small village close to Siegen. Planning is still ongoing, and development is supposed to start “in summer.” Unfortunately, an inspection of the plans has not yet been possible.

The new development area will be on a south-facing slope. The slope is not very steep. Pictures see below.

The purchase of a plot between 700m² and 800m² is planned. The standard land value for the location is €70/m². Since this is a new development area, I assume a price of about €100/m². Would this assumption roughly be correct? If so, the land costs would be about €80,000.

Assuming a total budget of €400,000:

Budget €400,000
- Land €80,000
- Additional construction costs €35,000
- Outdoor facilities €20,000
- Double carport €10,000
- Painting work + floor coverings €15,000
- Buffer €15,000

Leaves €225,000 for the house. Not that much as I have learned by now.

What is realistically possible for the house with that?

Put differently: One has ideas about what the house should roughly contain. How much would I have to increase the budget to realize the following:

Space requirements:

Ground floor:
- Living-dining area 30 to max. 40 m²
- Kitchen
- Small pantry
- Office (should be large enough to possibly accommodate a bedroom there later)
- Utility room
- Corner for wardrobe
- Guest WC with shower

Upper floor:
- Bedroom (possibly a small walk-in closet, but not a must)
- 2 children's rooms
- Bathroom
- 2nd small office
- Possibly children’s bathroom

We prefer a rather closed architecture and conservative construction method. We do not want an open kitchen. If possible, the kitchen should be separated from the living-dining area by a wide sliding door.

Otherwise, we are thinking of:
- Fireplace
- Balcony
- Air-to-water heat pump
- Ventilation with heat recovery
- Cistern or private well

Is it necessary/sensible to plan a basement due to the slope? The two offices and utility room could then be placed there and the house could be smaller as a result.
Somehow we also fell in love with a floor plan we found while browsing the internet. Pictures see below. In my opinion, it matches our requirements quite well…

Now the text has become rather long anyway, sorry for that!
Many thanks in advance for your feedback.

Best regards
m_l_r_s

Nice view.

I would leave out the airspace; at this size, it's just a hole in the floor that takes up space. It also contradicts the desired closed construction.

I am seeing a trapped children's bathroom for the first time. I wouldn't do it that way; as parents, you would always have to go through the children's room to get to the bathroom, which is actually not acceptable.

The wardrobe is very small; better to reserve additional space in the large hallway.

Won't the staircase be too dark like that?

Nice view.

We think so too :)

I would leave out the airspace, at this size it’s just a hole in the floor that takes up space. It also contradicts the desired closed construction.

Sounds logical

I’m seeing a trapped kids’ bathroom for the first time. I wouldn’t do it that way, as parents you’d always have to go through the kids’ room to get to the bathroom, which basically doesn’t work.

Good point. I thought the idea was quite nice in case the "little ones" grow up and have visitors later, we’d hardly notice it.

The wardrobe is very small, better to reserve additional space in a large hallway.

Also a good point.

Won’t the stairs get too dark like that?

Good question. I found the floor plan like that online...

Thanks for the reply

Basically, the approach and rough estimate of the costs are not wrong... I think your income is good and some equity is available, which already gives the matter a basis. I would also set the incidental building costs and the outdoor facilities + carport that way. A buffer is necessary.

However, you will not get a house of that size. I have not calculated it exactly, but roughly, you want about 185 m² of living space? I would use the rule of thumb for house costs per square meter of 1600 euros; in your case, the house would cost around 296 thousand euros.

Everyone builds as they want. Personally, I currently consider the house too big (you are still alone), even later with 2 children, 150-160 m² can be completely sufficient.

We have 2 children and are currently calculating with about 140 m² +/-

Basement roughly 50,000 euros extra. Depending on whether it's a finished basement, etc.

You can do without quite a bit on the floor plan; as lastdrop wrote, the air space and the children's bathroom are unnecessary.

I don't believe you will manage with a rate of 1250 euros on a financing of 400,000; you don't want to repay at 1%, do you?

Regards

Then the rest for the house is 225,000€. Not as much as I have learned by now.

Somehow we also fell in love with a floor plan that we found while browsing the internet. Pictures see below. In my opinion, this would quite well correspond to our requirements...

I don't find the floor plan very impressive. In particular, it contradicts your budget guidelines. It must be over 180 m².

The slope of the hill is at least not insignificant in the pictures. On a house length of about 10m, that could be approximately 2m difference in height, right?

I don't find the floor plan impressive. In particular, it contradicts your budget guidelines. That must be over 180 m².

The slope of the hill is at least not insignificant in the pictures. Over a house length of about 10m, that could be approximately a 2m difference in height, right?

Hard to estimate. The grass was relatively tall. But generally, you could very well be right. The upper area is flatter than the lower one. Since there are no plans yet, I unfortunately can't provide more...