Terraced house - Financial framework, land + construction financing

Hello everyone,

my family and I want to buy a plot of land in Berlin and build a house on it.
I have never really dealt with this topic before, I am basically a beginner in this area and want to find out about the financial framework that would come our way.
We have not made any precise plans yet, as we are just starting with this topic (we will of course seek professional help accordingly).

Approximately how much would the following project cost:

- Terraced house with four other similarly designed houses
- Size per house approx. 120-130 m²
- One-story
- Prefabricated house, not brick by brick
- Basement

1. How large should the plot of land in Berlin be on average if about 500 m² of the total area x are to be built on, or can one not say that in general?
2. What costs would come up from A to Z if we commission a company to carry out the construction project? (flat rate)

We want to apply to the bank for financing, and it would be helpful if we knew what amount we would have to request from the bank for this project.

We are three borrowers, 25 (civil servant 1850 plus health insurance + insurances), 27 (employee 2000 net), 28 (employee 1600 net)
Are these realistic incomes for such a construction project?

If more information is needed, just ask.

Thanks and best regards from Berlin

Dani

Read into the forum, your questions about construction prices are discussed in every 2nd thread. The question is whether you can get a plot in Berlin that is large enough to have a building area for 4 houses and that is also allowed to be built with only one story. I am currently trying to imagine such a row bungalow. Especially the middle units would probably have a lighting problem? Why not 1.5 stories or 2 stories? You posted the wages, but what about the expenses? And why 3 borrowers?

Hello Dani,

there should be a bit more information if you want to get reliable answers here.

Why are there only three borrowers if four houses are to be built?

What kind of equipment do you have in mind?

Energy efficiency according to Energy Saving Ordinance, Kfw 70, KFW 55?

Available equity?

Basement as a usable basement or a living basement?

Type of heating?

Roughly, you can calculate about EUR 1,500 per sqm of living space for a Kfw 70 house if painting and flooring work are done in-house.

Basement approx. TEUR 45 + x

Additional construction costs approx. TEUR 30 - 45

+ Land and resulting additional costs

Regards,

Dirk

For Berlin, there is a land use plan in which a lot of information can be found. You should google that. The size of the required plot depends, among other things, on the floor space index. In the Berlin area, this is approximately 0.3 for residential settlements (without guarantee). That means 30% of the plot may be built up. Therefore, the plot would have to be at least 1,670 sqm for a construction of 500 sqm. In addition to the minimum house price of about 255 TEuro per house that Doc.Schnaggl presented, the land price would also be added. Maybe you should first look for plots and the corresponding development plans and then consider which house/houses can and may be built there. ;)

Are you building a terraced house for three people or four terraced houses?
Plot/houses [WEG]-divided?

A townhouse for three. I’ll try to clarify some questions; otherwise, I am already diligently reading here. The three of us brothers each want to live in a house with our wives, and the fourth house is for our father in need of care, mother, and underage sister. Since this house is supposed to be for the future and offspring is certainly to be expected, we calculated about 130 sqm per sibling + parents. A townhouse with 4 adjacent houses now seems a bit too big to me, but then I would have to inquire how tall one is allowed to build such a house on plot X. It is important that each family member has their privacy, so the living areas must be separated somehow. If I want to reduce the townhouse with 4 houses to two and therefore build them taller, then I would have to build at least 3 stories, since approximately 260 sqm per house are needed, or am I calculating wrong? Ground floor 65 sqm 1st floor 65 sqm Separation 2nd floor 65 sqm 3rd floor 65 sqm Currently, of the 3 borrowers + parents live in their own apartments. Rent: 3x approx. 650€ 1x 1000€ That is just under 3000€ warm rent per month. I don’t imagine the financing to be that high per month. If each of the four parties contributes 600€ monthly for the construction financing, that’s 2400€. Since the wives are also employed, that’s 300€ for each partner. But the bank probably cares very little about that. What exactly is meant by "why three borrowers?" Too few in relation to the townhouse or too many? No thoughts yet on energy efficiency, unfortunately also not much on equipment so far. Basement as a utility cellar. Topic equity: Unfortunately hardly or not at all available. I know some could have been saved, but one lived somewhat wastefully in the young years. This is still all a wish and must be extensively discussed from all sides. In any case, I will have to spend a lot of time on this forum in the near future :) If no plot has been found yet, what is the first step in such a planning? First to the construction company, have an offer made and then to the bank, or first to the bank and ask about a possible amount? Best regards