Which costs are not covered by the bank loan?

...
Let's see what comes to mind right away (some of these things may of course already be included in the house price depending on the building contract and the building specification, but they don't have to be):

- Property transfer tax
- Notary costs
- Surveying fees
- Costs for soil reports
- Costs for (additionally required) earthworks
- Removal of excavated soil
- Costs for excavation and laying of sewage/rainwater pipes, if beyond the building specification (still pending)
- Installation and connection of a rainwater cistern, if specified in the development plan
- Connection costs from energy suppliers and telecom
- Construction site setup (usually included in the house price, but I have seen it differently)
- Special requests beyond the house standard (upgrade), such as additional sockets (standard is basically never enough)
- Required furnishings, such as the kitchen
- Design of outdoor facilities / green spaces (e.g., driveway for proof of a second parking space was approved or will be approved, since explicitly stated in the plan)
- etc. pp.

Hello,
1. Property
- 5% property transfer tax - varies by municipality
- possibly broker fees, approx. 3.57% of the land price – varies by municipality
- approx. 1.5% notary costs calculated from the land price
3 entries in the land register (1. priority registration of conveyance, 2. transfer of ownership,
3. entry of the land charge)

Correct, this was also not billable for us.

2. Financing
- possibly advisory/closing costs for financing, approx. 1.5% of the total loan amount
- approx. 0.25% commitment interest, measured on the loan amount

Correct, this was also not billable for us.

3. Construction preparation
- approx. €2,800-€3,200 surveying services (qualified site plans / height survey /
staking out / building survey)
- provision of connections for construction water / construction electricity, approx. €6.00 - €8.00 daily rent for standpipe, approx. €300.00 rent for construction electricity meter plus consumption
- fees (for house number, drainage permit, building permit), approx. €1,000.00 – €1,500.00, varies by municipality (we could have billed, but provided from equity)
- builder’s liability insurance approx. €80 - €150/year, depending on the insurance company

Not correct (sorry, I hardly dare to contradict you, but we were able to bill exactly these points relatively easily after prior listing in the cost plan).

3. Earthworks
- Transport of excess soil (normal ground conditions) for basement, approx. €1,500 (funny, we could bill A and for B it was rather around €5,500 for us)
- Internal infrastructure (sewage/rainwater pipes), approx. €2,500 – depending on pipe route
- Inspection shafts, soakaway or infiltration chamber, approx. €1,900.00 - €2,200.00 (included under services of the basement builder in the cost plan and billable)
- Reserve for foundation incidental costs approx. €8,000 for soil replacement and/or similar

Not correct (sorry, I hardly dare to contradict you, but we were able to bill exactly these points relatively easily after prior listing in the cost plan).

4. House connection costs
- Electricity/gas/water/telecom, connection to sewer, approx. €8,000 - €8,500 - varies by municipality

Still pending. I would have to check first whether it is billable or not.
But even with the amount, we are not quite there ... apparently, we chose a too expensive area to build in.

5. Fees
- Acceptance of drainage pipe, approx. €150 - varies by municipality
- Chimney sweep (inspection of chimney / gas system - note fees are incurred twice), approx. €200 - varies by municipality
- Land registry office (transfer of the surveyor’s data into the property map), approx. €150 – varies by municipality

In total approx. €35,000 - €40,000


THE REQUIRED FUNDS FOR FLOOR COVERINGS, PAINTING WORK, AND OUTDOOR FACILITIES ARE NOT YET TAKEN INTO ACCOUNT IN THIS LISTING!

Kind regards

Sorry if I contradict you, you demonstrably know more than I do, but I am only reporting how it went for us. I think such general statements are not always and in every case correct.

Hello Andi,


I believe there is a misunderstanding on your part

My list of incidental building costs, which you quote, does not mark the costs covered/will be covered by construction financing, but exclusively the realistically expected incidental building costs of each construction project in NRW - with minor, local deviations; nothing more and nothing less. I make no claim to know which costs can be financed through a construction loan and which cannot; this is handled very differently from bank to bank.

This list serves exclusively as help/tool for potential builders to find their way in the jungle of total investments of a construction project; quite a few sellers talk about incidental building costs of TEUR max. 12-15 and that definitely does not correspond to the truth!

Kind regards

Hm, it's basically quite simple: At the beginning, a financing plan is drawn up that tutto kompletto includes ALL costs/expenses. This amount minus equity plus reserve (for unforeseen events, which always occur in a real estate project, so it is foreseeable ) results in the financing requirement.

Now you just have to make it clear to the bank that you do not use all your equity at the beginning, but keep part of it back for things you pay in cash (e.g. kitchen) or leave it as a reserve in the savings account.