ᐅ First Steps for a 12-Unit Residential Building

Hello,
I am planning a large project (12-family house).
Since this is my first construction site, I would appreciate any tips or advice you can offer.

Thank you.

This must be an early April Fool’s joke; admit it!

So far, I have built 6-8 multi-family houses with my son using Lego several times.

Not yet 12... I’ll probably work on that this weekend and will report back.

Age: 21
Profession: Retail Salesperson

So, now that the initial jokes have passed, let’s look at this realistically.

12 units averaging 80 sqm (860 sq ft) each = 960 sqm (10,333 sq ft), plus some usable space, a basement, parking spaces = 1.5 million euros.

That is the lower limit. In our region, developers currently offer only about 700 sqm (7,535 sq ft) for that price.

Since I assume you won’t be moving in with your extended family, banks will require a certain amount of equity as a risk buffer. Let’s say additional acquisition costs plus 20% of purchase and construction costs...

So a quick question upfront: Do you have around 300,000 euros available? If yes, then it’s at least not completely unrealistic. If no, first earn that amount by other legal means.

rudi210 likes this

Nice. So, maybe rudi210 could shed some light on how being green at 21 years old and already spending millions are supposed to go together?

Or does "planning" not mean "also building," and rudi210 is actually an architecture student?

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