What is the appropriate loan amount?

Dear reader,

we have now had several financing discussions and are still not decided on the loan amount.

Here are the key figures: Prefabricated house costs without basement (120 sqm): €184,000 / Land: €142,000 (366 sqm) = €326,000

- Additional construction costs: Property transfer tax/notary/land registry entries etc.: €8,882
House connection costs (gas, electricity, telecom, sewer, water): €12,000
Construction power/construction water: €1,000
String line frame/height survey/drainage: €2,200
Building permit/exemption for building application: €800
Earthworks: €4,000
Material for finishing work (doors, floors except wet areas) approx. 100 sqm: €12,000
Building surveying by surveying office: €800
Painting/putty work: €2,000
Material for outdoor facilities: €5,000

Total additional costs: €48,682

Total costs: €374,682

Equity capital: €90,000

Loan amount min. €284,682

How much loan would you take? We tend towards €285,000; the financer advocates for €300,000.

Thank you for your answers.

Is the base slab already included in the 184000? Prefabricated houses are calculated from the top edge of the base slab... Additional construction costs seem a bit too low to me. We have already paid about 5500 for the rainwater work and wastewater cistern. Creating a construction road on the property, etc. So I tend towards over 300000...

So the floor slab is included in the price. The above-mentioned construction costs were provided to us by the developer.

Hello amelie74,

I would also rather advise you to take out the loan of EUR 300,000.00 (if not even a little more as a "reserve").

Many banks also offer the possibility to repay a certain part (for example 10%) of the loan amount free of charge if the money is not needed.

You should find out if this is also possible at your bank, then you would be on the safe side with the financing and would not have to refinance in case something unexpected comes up.

Regards,

Dirk

Hm - I would also rather go for 300k. That will already be tight. How do you come to only 8800 for property transfer tax? At 5%, it’s already at 16k. 2,000 € for painting? You don’t even get the materials for that,... So you see, quite a bit is still missing. There are so many nice lists and experience reports on construction ancillary costs here, yet nicely calculated developer lists are used again and again.

Very slowly

From whom are you buying the plot? That is crucial for whether there will be taxes on the house or not.
What are you building with? Actually a developer? Then you will face taxes on both, since you are buying the house and the land together.
Or do you mean a general contractor?

€184,000 for the house... I don't fully believe that at first... sounds like: there will be additional costs during the selection process.

BauNKosten was created for us by the developer

CAREFUL! Developers often don't care if you have additional costs here... inform yourselves. OR the developer guarantees these costs in writing... I bet he won't.

Earthworks: €4,000

sounds very little... What happens with the excavation? Is disposal included?

€12,000 for all floors and doors? Is self-performance planned here? What material is planned? Parquet, tiles, or laminate?

Painting and plastering works for €2,000 That will be tight if you do it yourself

If I had to bet today, I would say that with the land prices you will end up at about €400,000.
But more precise information can only be given once the construction specification is known.