We want to build - Who has experience?

Hello everyone,
I am new here and we have decided to build.
A specific question for that, can I afford a house for €360,000.00?
I understand this is hard to answer (no special requests)
Of the €360,000.00, the land costs about €100,000.00.

About the house:

Solid construction, fully basemented.
First floor about 50 sqm - would be for a granny flat with separate entrance
First floor about 60 sqm (living area + dining area, kitchen, guest WC)
Above: 4 bedrooms and one bathroom.

House must be completely finished (except carpet, flooring, and tiling work)
I don’t need a garage at first.

It would be nice if someone could advise us.

Regards

How is one supposed to answer that? 260,000 initially sounds like too little if an additional apartment + basement is supposed to be included. But whether you can afford it can only be guessed here since you don’t specify either income or equity :) And even then it will be difficult for someone who doesn’t know you to judge. Does the property cost 100,000 € with or without additional costs? Where does the amount come from? If both were offered together, then you have to pay 5% tax on both. What kind of basement is it? How is the property, and so on.

260 TEUR for the house sounds too cheap to me. Aside from the fact that the described room layout seems absurd.

Morning everyone,

then a bit more detailed about myself. :)

I am 30 years old, married and have 2 children.
Regarding the financial side: I am an employee earning 3200 euros net, my wife 400 (basis) + child benefit 360 euros = 3960 euros/month. Equity 55,000 euros.
I was already at the bank, got a loan up to 390,000 euros with equity, wanted to leave 30,000 euros as a reserve for kitchen, materials (laminate, tiles, plaster, etc.)

Where I want to build (Gailinen am Hochrein) there are now 13 new plots (fully developed) for sale from the community at 165 euros/sqm, there are various sizes from 500 sqm to 870 sqm. I thought of buying about between 530 and 600 sqm, therefore 100,000 euros.

Regarding the granny flat: it is intended for the parents-in-law in about 5 years, until then to rent out.
Basement: preferably fully basemented, not intended as living space.
Regarding the floor plan: I don’t even find it that bad, 2 separate entrances on the ground floor and upstairs is space only for my family.

If you have any questions, I am happy to be available.

Regards Serg

With 600sqm and 165€/sqm that is 99,000€.
Additionally:

- Property transfer tax (in BaWü that is 5%, makes 10,400.000€)
- Notary
- Land registry office

For house construction:

360,000€ minus land remains probably 240,000€ for the house.

For financing:

360,000€ - equity + 30,000€

30,000 euro as reserve [...] for kitchen, materials (laminate, tiles, plaster etc.)

Makes 335,000€ loan.

Apart from the fact that I - like the previous speakers here - assume that the ideas for the house will not fit into the budget. Especially without a basement.

What does your monthly budget for repayment look like?
How much do you want / can you pay monthly?
(Don't forget reserves)

Let's see: so you want 110m² downstairs and probably about ~90m² upstairs... so all in all about ~200m² living space.

Then there is about 110m² basement because you want a full basement.

As a rough guideline I take 800€/m2 basement and 1450€/m2 living space (my architect uses these numbers in the first estimate).

That results in 378,000€..... with the plot then 478,000€ + costs for kitchen/furniture/outdoor area/carport etc...

so I would guess that 260k is not enough...

If you forego the granny flat and only build about ~140m² living space with then only about ~80m² basement, this results according to this estimate in a price of 267,000 + kitchen/furniture etc etc...
So that is more in a realistic range.

These numbers are only for rough estimation and are simply taken 1:1 from my architect...