ᐅ Is our construction project feasible? Is our budget sufficient for it?
Created on: 11 Aug 2018 15:10
A
AndreasGMT
Hi,
I’m new here.
Regarding our plans, my wife and I are planning to build our single-family home within the next 1.5 years.
We have a plot of land that is expected to be designated as a building area next year. This is almost certain. The plot has a slight slope, so a basement will be necessary. Development costs will naturally be an additional expense.
We are planning a house of about 160–175 m² (1,722–1,884 sq ft), if it fits within our budget.
Our budget is approximately €430,000 for the house, development costs, additional construction expenses, kitchen, garden, and a carport (prefabricated garage), as mentioned, the land is already available.
As personal contribution, we can install interior doors, lay flooring, and fit windows, the front door, as well as roller shutters and blinds, since we will purchase these directly from the supplier at cost price and install them ourselves.
In your opinion, is this feasible? Is our budget sufficient?
Thanks in advance for your answers.
I’m new here.
Regarding our plans, my wife and I are planning to build our single-family home within the next 1.5 years.
We have a plot of land that is expected to be designated as a building area next year. This is almost certain. The plot has a slight slope, so a basement will be necessary. Development costs will naturally be an additional expense.
We are planning a house of about 160–175 m² (1,722–1,884 sq ft), if it fits within our budget.
Our budget is approximately €430,000 for the house, development costs, additional construction expenses, kitchen, garden, and a carport (prefabricated garage), as mentioned, the land is already available.
As personal contribution, we can install interior doors, lay flooring, and fit windows, the front door, as well as roller shutters and blinds, since we will purchase these directly from the supplier at cost price and install them ourselves.
In your opinion, is this feasible? Is our budget sufficient?
Thanks in advance for your answers.
@AndreasGMT
Hi and welcome!
I think you might even be able to get more square meters—the basement is definitely expensive (somewhere between 30,000 - 60,000).
I believe it’s very important to carefully and thoroughly choose the right partner for your project; this took us the longest time because we simply couldn’t believe that every architect, general contractor, or prefab house provider knew better than the others—in the end, we were right! Good luck and much success.
PS Always stay calm and sleep on it once!
Hi and welcome!
I think you might even be able to get more square meters—the basement is definitely expensive (somewhere between 30,000 - 60,000).
I believe it’s very important to carefully and thoroughly choose the right partner for your project; this took us the longest time because we simply couldn’t believe that every architect, general contractor, or prefab house provider knew better than the others—in the end, we were right! Good luck and much success.
PS Always stay calm and sleep on it once!
G
Grantlhaua13 Aug 2018 08:17Hello,
we are building a house next year with 184 m² (1980 sq ft) plus basement and double garage and have already received most of the quotes. Our current budget is around 500,000 € including a contingency and landscaping, but we have also planned for high-quality features (high-quality windows, central ventilation system, very large kitchen, 3 bathrooms, finished basement with hobby room, ...).
we are building a house next year with 184 m² (1980 sq ft) plus basement and double garage and have already received most of the quotes. Our current budget is around 500,000 € including a contingency and landscaping, but we have also planned for high-quality features (high-quality windows, central ventilation system, very large kitchen, 3 bathrooms, finished basement with hobby room, ...).
Grantlhaua schrieb:
Hello,
next year we are building a house with 184m2 (1984 sq ft) plus a basement and double garage, and we have already received most of the quotes. We are currently around 500,000 € including contingency and landscaping, but we have also planned for high-quality features (high-quality windows, centralized ventilation system, very large kitchen, 3 bathrooms, ...)Because I’ve seen this several times now, that quotes are requested well before the actual start date: do the companies you ask really honor those prices for such a long time? We were also sometimes in contact three or four months before the scheduled start and during construction we repeatedly heard that the original quote would no longer be valid and they would charge more.
For acquaintances, it even went so far that a delay of the construction start by four months made the roofer demand significantly more money, and they had to look for another contractor again.
So, how has this worked out for you?
G
Grantlhaua13 Aug 2018 08:35Maria16 schrieb:
Because I have read several times now that quotes are requested well in advance of the start date: are the companies really committed for that long?
We also requested quotes three or four months before the execution date and later heard several times during construction that they would no longer offer the price originally quoted and would charge more.The companies know when we will start building. For the major trades (shell construction, roof structure, etc.), this is not a problem. The smaller ones (screed, etc.) did not want to commit that far ahead. This means that although I have the exact prices, I simply included a contingency in my planning for potential surcharges.
Grantlhaua schrieb:
Hello,
we are planning to build a house next year with 184m² (1981 sq ft) plus a basement and double garage. We have already received most of the quotes. Our current budget is around 500,000 euros including contingencies and exterior landscaping. We have also planned for high-quality features (premium windows, central ventilation system, very large kitchen, 3 bathrooms, a finished basement with hobby room, etc.)...I would be interested in a detailed breakdown...it seems quite affordable for Bavaria, especially considering contingencies, exterior work, double garage, and so on...
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