Thoughts on an expansion house or solid house

On the topic of whether I can afford it or if I need a house:

The rental prices in our area have risen sharply in recent years (50 sqm apartments around 500 euros cold rent, although in a rural area), ownership apartment prices are also around 2400 €/sqm.

The available living space in my municipality and within a 10 km radius is very limited. Further away there are two cities, one of which is a university town.

I currently have two houses in mind:

One at Danwood, fully finished except for floor coverings, second layer of plastering and painting work, and door installation, price 122000

Second option is a shell house from Bien-Zenker:

[*]Apply fine plaster outside
[*]Install non-load-bearing interior walls
[*]Install interior staircase
[*]Electrical installation
[*]Sanitary installation
[*]Heating and ventilation installation
[*]Insulation and paneling of walls, ceilings, and roof or applying screed
[*]Interior finishing

the price for that would be 70000.

Both without base slab.

So, with my calculations, I would come to roughly +/- 200000.

For now, one bedroom, living room, and bathroom would be enough for me; the rest would be done alongside.

The same applies to the outdoor facilities, initially only a fence around the property would be installed and some privacy screening if necessary. Also a parking space or possibly a carport.

And for 70 k€ the house is placed on an (existing) slab and all the material is completely included? Sounds too cheap to me... Just the material for heating and ventilation alone should easily cost over 20 k€, electrical at least 5 k€, plumbing very cheap at 3 k€, floor coverings very cheap at 3 k€, tiles for the bathrooms, doors, etc.

Hello Michael,

that sounds very cheap to me as well. You certainly won't get good quality.

We also checked out all the house construction companies and had them make offers. The price with minimal equipment was always around €300,000 just for the house. When the extra requests were really charged for, it was clear to us that we had to take everything into our own hands.

If you have enough time and motivation, I would also advise you to organize everything yourself, of course with the support of an architect. We were able to save a huge amount of money that way.

In the end, we are now at just under €330,000 (which is due to some new special requests I made during the construction phase), but that price includes not only the house but also the land and the garage incl.
We have top bathroom equipment, over 160 sockets, network in almost every room, BUS system, RC2 windows with safety glass, etc.

This was only possible by obtaining a lot of offers and then negotiating prices.

So, to get back to your initial question, whether it is advantageous to hand over the shell construction to a local construction company and then tender the trades bit by bit yourself?
Yes, definitely!

Regards
Michael

A bank does not want to see a half-finished house but substance. So you will have to borrow enough money to make it completely livable. It is commendable to finish building the house from the ongoing income, but in my opinion no bank will cooperate with that.

Hello Michael,

that also sounds very cheap to me. You certainly won't get good quality there.


Regards
Michael

In that respect, it would not be inexpensive but cheap...

A bank does not want to see a half-finished house but substance. So you will not avoid having to borrow enough money to make it completely habitable. It is commendable to finish building the house from ongoing income, but in my opinion no bank will go along with that

If he can credibly prove that the house will be completed step by step, then yes. That means, if the house itself is standing and the materials for finishing are being delivered, there is also a corresponding value for a much smaller loan. And now don't come with the theoretical possibility of selling the materials. Who would buy a plot, build a house including all ancillary costs, use equity, etc., only to sell the materials on the "used market" for a few thousand euros.