Hello everyone!
We – that’s me, 25 years old, and my better half, also 25 – are facing the challenge of building a house.
The topic of finding the “right plot of land” was the first thing we wanted to tackle, and thanks to available options within the family circle, we have already taken care of that.
Now the focus is shifting to the actual “building” itself, and I’m starting to feel a bit overwhelmed.
One might find it funny since I work as a project manager in the family-owned road construction company – but when it comes to “building a house,” well... our expertise ends at the driveway :-)
Before we get in touch with architects or construction companies, I’d like to define the financial framework. First, I want to know what we can afford before I start making plans that might be beyond our budget.
We have scheduled an appointment with our joint bank to discuss this.
Ahead of that meeting, I would like to gather some opinions from experienced home builders – that’s you – to get a realistic idea of the total costs involved.
A quick overview of our situation:
Me, 25 years old:
My partner, 25 years old:
So, our combined net household income is €9,900 per month (approximately $10,700).
After compiling a typical household budget for the past 12 months, we currently have about €5,500 (approximately $5,900) left at the end of each month.
From October onwards, her salary will also come in, expected to be around €2,500 net per month (approximately $2,700).
My income is fairly secure because it’s from our family business – with the usual uncertainty that any company has.
Her position offers the prospect of a civil servant status (tenure).
What we want to build:
What we have:
We do not want to invest any equity beyond that.
What I am willing to spend:
I had a limit of €500,000 (approximately $540,000) in mind.
I’m happy to stay below that if possible, but I can also consider going over if necessary.
However, I have no real point of reference regarding what financial resources we should realistically expect to need here.
I would be grateful to hear in advance:
Many thanks in advance!
We – that’s me, 25 years old, and my better half, also 25 – are facing the challenge of building a house.
The topic of finding the “right plot of land” was the first thing we wanted to tackle, and thanks to available options within the family circle, we have already taken care of that.
Now the focus is shifting to the actual “building” itself, and I’m starting to feel a bit overwhelmed.
One might find it funny since I work as a project manager in the family-owned road construction company – but when it comes to “building a house,” well... our expertise ends at the driveway :-)
Before we get in touch with architects or construction companies, I’d like to define the financial framework. First, I want to know what we can afford before I start making plans that might be beyond our budget.
We have scheduled an appointment with our joint bank to discuss this.
Ahead of that meeting, I would like to gather some opinions from experienced home builders – that’s you – to get a realistic idea of the total costs involved.
A quick overview of our situation:
Me, 25 years old:
- Project manager
- €3,900 net per month (approximately $4,200) + profit sharing
My partner, 25 years old:
- Still studying in her final semester
- Owns two multi-family houses in the Alpine foothills, generating €9,000 net income per month (approximately $9,700)
- Minus €3,000 financing payments per month for ongoing renovation loans on the rental properties, resulting in a total income of €6,000 per month (approximately $6,500)
So, our combined net household income is €9,900 per month (approximately $10,700).
After compiling a typical household budget for the past 12 months, we currently have about €5,500 (approximately $5,900) left at the end of each month.
From October onwards, her salary will also come in, expected to be around €2,500 net per month (approximately $2,700).
My income is fairly secure because it’s from our family business – with the usual uncertainty that any company has.
Her position offers the prospect of a civil servant status (tenure).
What we want to build:
- Two-story house – probably with a basement
- Approximately 140m2 (1,507 sq ft)
- Brick veneer exterior
- Double garage
- City villa style
- Smart home features according to current standards
What we have:
- 1,100m2 (11,840 sq ft) fully serviced plot of land in beautiful Lower Bavaria
- Equipment and personnel to carry out all earthworks ourselves at no additional cost
We do not want to invest any equity beyond that.
What I am willing to spend:
I had a limit of €500,000 (approximately $540,000) in mind.
I’m happy to stay below that if possible, but I can also consider going over if necessary.
However, I have no real point of reference regarding what financial resources we should realistically expect to need here.
I would be grateful to hear in advance:
- How much would our planned home cost / what is a reasonable cost range?
- Is our budget sufficient?
- Where should we start – visiting model homes or going directly to an architect?
Many thanks in advance!
First, write down your room requirements—what you want and need.
Consider the pros and cons of having a basement, because you don’t want to carry bicycles and garden tools through the house and up and down stairs.
The same applies to laundry. Many people prefer to skip the basement if they have a nice utility room on the upper floor and storage space in an extension and/or a spacious double garage. Storage rooms on the ground floor are also convenient. Therefore, if you divide about 20m² (215 sq ft) between the ground and upper floors, you can usually do without a basement.
A spacious office can double as a reading room; two children’s bedrooms, with one initially used as a guest room or hobby room if only one child is planned.
If you plan a basement only for utility rooms, often half of it remains unused or used just for clutter storage.
You should also check what the local development plan says regarding building options; if there are many permissions or the plot is on a slope, this influences the use.
Regarding the room program: read, observe, read again, compare.
Measure, take a look, visit, read.
Reading and exploring forums like this one, especially discussions about floor plans, can be very helpful.
You can also build a house with 110m² (1,184 sq ft), but this means making compromises. However, it does make homebuilding affordable for average earners.
You can afford to build all the rooms you want.
Still, you must also consider other costs, such as landscaping and connection fees. Then come questions about heating systems and so on.
Consider the pros and cons of having a basement, because you don’t want to carry bicycles and garden tools through the house and up and down stairs.
The same applies to laundry. Many people prefer to skip the basement if they have a nice utility room on the upper floor and storage space in an extension and/or a spacious double garage. Storage rooms on the ground floor are also convenient. Therefore, if you divide about 20m² (215 sq ft) between the ground and upper floors, you can usually do without a basement.
A spacious office can double as a reading room; two children’s bedrooms, with one initially used as a guest room or hobby room if only one child is planned.
If you plan a basement only for utility rooms, often half of it remains unused or used just for clutter storage.
You should also check what the local development plan says regarding building options; if there are many permissions or the plot is on a slope, this influences the use.
Regarding the room program: read, observe, read again, compare.
Measure, take a look, visit, read.
Reading and exploring forums like this one, especially discussions about floor plans, can be very helpful.
You can also build a house with 110m² (1,184 sq ft), but this means making compromises. However, it does make homebuilding affordable for average earners.
You can afford to build all the rooms you want.
Still, you must also consider other costs, such as landscaping and connection fees. Then come questions about heating systems and so on.
L
Lunestros14 Apr 2019 20:05Bookstar schrieb:
140 m² (1507 sq ft) is far too small. It’s very difficult to create nice rooms with that size. Considering your exceptionally high income and possibilities, I would rather aim for about 250 m² (2691 sq ft) and plan a budget of around 1 million euros for the house.
Otherwise, you’ll have it paid off after 5 years anyway 😀I’ll just take that as a humorous remark. 😀
But I’ll respond anyway:
- With 250 m² (2691 sq ft), am I opening a museum for "unused, beautiful rooms"?
Over 160 m² (1722 sq ft) is definitely open for discussion – but anything beyond that seems a bit "too much" to me.
- I don’t consider our household income exceptionally (sic!) high. Certainly, we do have a good (!) income available. But we are far from being able to build a house without any financial concerns.
Especially since I was always taught to only buy what you actually need in the end.
And I’m absolutely sure we don’t need a house with such exorbitant costs.
So, we’ll start collecting our wishes and put them down on paper 🙂
Thanks for all the suggestions so far 🙂
I think the question of future increased space requirements when having children is important, and you should consider that from the start.
Right now, with 140m² (1506 sq ft), you have plenty of space—in my opinion, that’s already a mansion for two people. But since you have full control over everything, could you plan for a future extension now? In other words, create a coherent overall concept? An annex, reserved space for expansion, or whatever?
A garage or storage room as an annex, where you could add another floor later and already have the connection to the main house well planned? Whatever the case, it’s something worth thinking about.
Otherwise, you have a great income and can afford a mansion if you want to.
Right now, with 140m² (1506 sq ft), you have plenty of space—in my opinion, that’s already a mansion for two people. But since you have full control over everything, could you plan for a future extension now? In other words, create a coherent overall concept? An annex, reserved space for expansion, or whatever?
A garage or storage room as an annex, where you could add another floor later and already have the connection to the main house well planned? Whatever the case, it’s something worth thinking about.
Otherwise, you have a great income and can afford a mansion if you want to.
Altai schrieb:
I think the question of potentially increased space requirements when you have children is quite important, and you should already consider that.
"Right now," 140m² (1500 sq ft) is more than enough (in my opinion, that’s a mansion for two people). But since you control everything yourselves — can you plan for a future extension now? In other words, develop a cohesive overall concept? An addition, extra space reserved for expansion, whatever?
A garage or storage room as an extension, where you could add an additional floor later, with a well-thought-out connection to the main house? Whatever the case... I would give these thoughts some attention.
Otherwise, you have a great income and can afford a mansion if you want. I knew it (-:
B
Bln-Mauwurf15 Apr 2019 22:09Hello
1. Compile a list of all income and expenses (household budget).
2. Schedule an appointment with your main bank – they know you best and can help define your financial limits.
3. Use your current living space as a rough guideline. You can always build more, but is more really practical? In the long run? (More people have ended up isolated in their basement gyms than in real fitness centers – just kidding.)
4. Visit model home parks. The more homes you see, the better you’ll understand what you want and need.
5. Choose flexible floor plans over extravagant open spaces. For example, living areas that can be divided later, a downstairs shower, etc.
Buy a prefab home magazine, discuss floor plans, and sharpen your eye.
5a. Clarify all questions about the plot: What utilities are available and what are the connection costs? For example, a gas connection located on a neighboring lot can lead to significant extra costs, and you may not get their approval. What about the ground conditions? Groundwater layers? Rock? Old foundations? Contamination? Ask neighbors, check with the local council. What about future zoning plans? (Oh no, a bypass road might cut through the beautiful forest.)
6. I’m a fan of prefabricated houses: 1. Controlled dry production, assembly in 2 days; 2. unbeatable payment plans; 3. short construction time; 4. warranty; 5. well-insulated walls; 6. certified building materials; 7. quality seals for the construction method; 8. no or no obvious bankruptcies; 9. final prices fixed at the latest after the construction plans and material selections, no ifs or buts; 10. a general contractor.
7. Visit Interhyp or your main bank to get specific about financing.
Have fun and always good luck with your project!
1. Compile a list of all income and expenses (household budget).
2. Schedule an appointment with your main bank – they know you best and can help define your financial limits.
3. Use your current living space as a rough guideline. You can always build more, but is more really practical? In the long run? (More people have ended up isolated in their basement gyms than in real fitness centers – just kidding.)
4. Visit model home parks. The more homes you see, the better you’ll understand what you want and need.
5. Choose flexible floor plans over extravagant open spaces. For example, living areas that can be divided later, a downstairs shower, etc.
Buy a prefab home magazine, discuss floor plans, and sharpen your eye.
5a. Clarify all questions about the plot: What utilities are available and what are the connection costs? For example, a gas connection located on a neighboring lot can lead to significant extra costs, and you may not get their approval. What about the ground conditions? Groundwater layers? Rock? Old foundations? Contamination? Ask neighbors, check with the local council. What about future zoning plans? (Oh no, a bypass road might cut through the beautiful forest.)
6. I’m a fan of prefabricated houses: 1. Controlled dry production, assembly in 2 days; 2. unbeatable payment plans; 3. short construction time; 4. warranty; 5. well-insulated walls; 6. certified building materials; 7. quality seals for the construction method; 8. no or no obvious bankruptcies; 9. final prices fixed at the latest after the construction plans and material selections, no ifs or buts; 10. a general contractor.
7. Visit Interhyp or your main bank to get specific about financing.
Have fun and always good luck with your project!
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