What should I roughly plan for?

  • Erstellt am 2016-07-14 21:48:58

Seratio

2016-07-14 21:48:58
  • #1
Hello,

In the past few days I have been reading a bit across the forum here to find out what my desired house + land might cost if we were to start in 2017/2018. And I would like to gather your experiences and whether a bank would even go along with something like this.

Financially, things currently look as follows for me and my girlfriend:
Income: 3800 net (girlfriend is a trainee)
Cold rent: €750
Household surplus: €1000-1500 per month
Equity so far ~€10,000

Regarding land, I am currently calculating approximately €80-100k in the Cologne surrounding area (radius 40 km). My mind currently tells me that everything must not cost more than €400k. Thus, about €250-270k would be left for a house + incidental construction costs. Is that feasible?

Attached is the short form of the requirements:

Requirements of the builders
Style, roof shape, building type: Classic/modern gable roof
Size: approx. 150 sqm floor area
Basement, floors: no, 1.5 - 2
Number of people, age: 2, 24 and 28
Space requirements on ground floor, upper floor: GF: living room with open kitchen, office, utility room, UF: master bedroom, 2 children's rooms, bathroom, dressing room
Office: family use
Overnight guests per year: 2-3
Open or closed architecture: closed
Conservative or modern construction: modern
Open kitchen, cooking island: yes, yes
Number of dining seats: 6
Fireplace: no
Music/stereo wall: yes
Balcony, roof terrace: no
Garage, carport: single or double garage
Utility garden, greenhouse: no
Other wishes/special features/daily routine: KFW55, preferably everything on KNX/ automation

- Do-it-yourself by you: possibly electrical work by an acquaintance

Furthermore, I would like to have your opinion on the following thoughts and to what extent they are legal or worthwhile:
Option A: Less equity, build faster, but pay rent for a shorter time (€750/month)
Option B: Wait 2-3 years longer, thereby pushing €18,000-24,000 rent to someone else’s pocket, but having €36,000-54,000 more equity.

Best regards and thanks in advance :)
Sera
 

Traumfaenger

2016-07-15 00:19:35
  • #2
Hello Sera,

could you please explain what you mean by "Kölner Umland" and how many square meters of land you are imagining for your property? In the districts that belong to COLOGNE, we are talking about square meter prices ranging from 300 EUR to 2,000 EUR according to the land value guideline (BORIS NRW). Even Bergisch Gladbach and the like, which no longer belong to Cologne, often have a sqm price of 300 EUR or more.

The 10,000 EUR equity capital then is not even enough for the notary (1-2%) and property transfer tax (6.5%). From the bank's perspective, however, both are not counted as eligible equity for house construction but as incidental property transfer costs. The equity capital is then ZERO.
 

HilfeHilfe

2016-07-15 06:57:46
  • #3
I would wait for the friend's situation with permanent employment and build up equity.
 

wpic

2016-07-15 14:36:53
  • #4
With an average plot size of 450-600m2, the assumed price for the plot at a distance of about 40km from Cologne is possibly realistic (area Zülpich/Euskirchen/Bergheim). If you move closer to Cologne, the standard land value quickly doubles. A house with a net 150m2 of living and usable space can now be realized at a minimum gross cost, including incidental construction costs, for €275,000 to €300,000, simple standard. For the exterior facilities, garage, etc., another €30,000 to €45,000 can be added. In addition, the interior fittings, kitchen, lighting, furniture. €450,000 to €500,000 are quickly reached without installing golden faucets.

Plot prices are becoming more interesting in the original B and C locations, e.g., here in the North Eifel, where building enthusiasts are increasingly relocating due to price pressure in the metropolitan areas, which has become noticeable in the last two years. And here too, prices for existing properties, for example, are gradually rising. Craftsmen’s prices have risen disproportionately, in some cases significantly above the general construction price index.

Building has unfortunately become excessively expensive and complicated, among other things, due to the absurdly increased requirements of the energy saving ordinance for building insulation standards. This can basically only be countered with a radical concept of simplified, cost-effective building, which, however, requires a willingness to experiment from both the builder and the architect. KNX and building automation no longer really fit into this. Keep it simple, smart & small.
 

Wastl

2016-07-15 14:53:22
  • #5
Size 150sqm floor area -> with 1.5 stories or 2 stories that will be just under 200 / 250sqm living space. 275k€ will never be enough for that. To be allowed to build 150sqm floor area + garage and co a relatively large plot of land is required,...
 

MarcWen

2016-07-15 16:19:45
  • #6
Hello you two,

Welcome to the forum.

That is the classic Gretchen question. I am of the opinion that if the framework conditions are right, it is better to start building sooner rather than later.

10k really cannot be considered equity capital. Even 20k is not particularly remarkable. So we are talking about 100-120% financing here, which then either has to manage with a hefty surcharge or be rejected by the banks.

Trying makes you wise.

40km suburban area, the 100T should be enough for the plot. Which area should it be? To the east you have to look as far as Engelskirchen. I would think carefully about that area if your work is in Cologne. To the south, Mechernich has great infrastructure and some plots on offer. The A1 is a good connection. To the west up to Düren or a bit south Vettweiß. But as everywhere, look precisely at connections and infrastructure.

For the house with double garage, quite serious prices are being asked. All in all, I would see a 3 in front here. Adding the plot and garage, the 400T budget will get tight.
Kitchen, furniture, lamps, moving, double burden or standby interest/mortgage sum up quickly.

Would something used also be an alternative?
 

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