Hello everyone, we are Ina and Philipp. We both want to take the next step and build our own home.
We are intentionally moving away from the big city back to the countryside (Ina comes from a rural area). Perhaps some of you remember we have posted here before and shared some bad experiences with looking for land. Thanks to your advice, we quickly figured out what to watch out for. We want to actively share our journey toward homeownership here and are grateful for any tips and tricks.
What is the current status?
We are currently in contact with an owner (over 70 years old) of a plot of land who is willing to sell us 1,400 square meters (15,070 square feet) for 50,000 euros. All utility connections except for gas are already available at the site. The land is currently farmed as agricultural land. The plot is located next to a low-traffic federal road.
Yesterday, we spoke with potential neighbors. They also bought from this gentleman in 2011 and are still very satisfied with the quality of living and housing in the area. The neighbors were in the same situation back then—the land was also used as farmland.
Next Tuesday, we have an appointment with the bank. We will discuss whether to finance the land or possibly pay in cash. The advisor told us on the phone yesterday that we should generally consider paying for the land in cash rather than financing it.
If everything goes well, we will call the owner on Tuesday and hopefully tell him that we want to buy the land. He said yesterday he would then send us all the documents.
We have a specific idea we want to realize: a bungalow (the neighbor’s house is already a bungalow) modeled after a Swedish-style home.
Currently open questions:
Do you already have any advice on what we should pay attention to?
I (Philipp) have some doubts and would prefer to finance the land because the €50,000 should serve as equity/reserve for building the house.
There is a sewage access point right at the edge of the property. The owner said—if I understood correctly—that he would also talk to the water utility company to see if we would not have to buy that part of the land.
Thank you very much for reading this far. We wish you a nice weekend and will continue to report here openly and regularly. We appreciate any feedback or suggestions on things we can clarify early on.
We are intentionally moving away from the big city back to the countryside (Ina comes from a rural area). Perhaps some of you remember we have posted here before and shared some bad experiences with looking for land. Thanks to your advice, we quickly figured out what to watch out for. We want to actively share our journey toward homeownership here and are grateful for any tips and tricks.
What is the current status?
We are currently in contact with an owner (over 70 years old) of a plot of land who is willing to sell us 1,400 square meters (15,070 square feet) for 50,000 euros. All utility connections except for gas are already available at the site. The land is currently farmed as agricultural land. The plot is located next to a low-traffic federal road.
Yesterday, we spoke with potential neighbors. They also bought from this gentleman in 2011 and are still very satisfied with the quality of living and housing in the area. The neighbors were in the same situation back then—the land was also used as farmland.
Next Tuesday, we have an appointment with the bank. We will discuss whether to finance the land or possibly pay in cash. The advisor told us on the phone yesterday that we should generally consider paying for the land in cash rather than financing it.
If everything goes well, we will call the owner on Tuesday and hopefully tell him that we want to buy the land. He said yesterday he would then send us all the documents.
We have a specific idea we want to realize: a bungalow (the neighbor’s house is already a bungalow) modeled after a Swedish-style home.
Currently open questions:
Do you already have any advice on what we should pay attention to?
I (Philipp) have some doubts and would prefer to finance the land because the €50,000 should serve as equity/reserve for building the house.
There is a sewage access point right at the edge of the property. The owner said—if I understood correctly—that he would also talk to the water utility company to see if we would not have to buy that part of the land.
Thank you very much for reading this far. We wish you a nice weekend and will continue to report here openly and regularly. We appreciate any feedback or suggestions on things we can clarify early on.
philipp1990 schrieb:
Yes, I don’t want to discuss this further either. We would avoid a bungalow, but unfortunately, despite our clear conscience, it’s not possible for us. We don’t have to either. There are bigger offenders here in the forum.
Anyway: 100 sqm (1,076 sq ft) is far too small when dealing with illness, even on a single level.
You really need to reflect and determine whether it needs to be fully accessible or just partially accessible. The higher the threshold, the larger the circulation area. With two children, we are looking at a minimum of 160 sqm (1,722 sq ft). This is not a game here.
Ahem, a fully or partially accessible home should also be labeled accordingly here. The willingness to discuss should at least go that far.
P
philipp199027 Aug 2019 23:08Thank you. I cannot find where we wrote 100; we are calculating with 140 square meters (1,507 square feet).
philipp1990 schrieb:
I can't find where we wrote 100; we are calculating with 140 square meters.well, here:
"Does anyone have recommendations for bungalows within a turnkey price range of €250,000? Preferably timber construction, not solid/masonry."
140 m2 (1506 sq ft) including earthworks and all ancillary building costs might be possible at that price as a shell construction. However, quite a few thousand euros, several hundred (more likely thousand) hours of work, and also a number of tradespeople are still missing to reach true "turnkey" status.
R
readytorumble28 Aug 2019 07:47I just quickly skimmed through the thread… What do you actually earn?
I understand that there's quite a bit of excitement and dreaming involved here. But you’re moving a bit too fast for me.
The tight, preset budget suggests a very low income. With that budget, I don’t see much more than 100m² (1,076 sq ft), and that’s not enough space for four people. You have to keep in mind that 10-15m² (108-161 sq ft) will be reserved for the utility room.
I understand that there's quite a bit of excitement and dreaming involved here. But you’re moving a bit too fast for me.
The tight, preset budget suggests a very low income. With that budget, I don’t see much more than 100m² (1,076 sq ft), and that’s not enough space for four people. You have to keep in mind that 10-15m² (108-161 sq ft) will be reserved for the utility room.
P
philipp199028 Aug 2019 07:59Tassimat schrieb:
I agree. My understanding was 100m² (1,076 sq ft) for a €250,000 house including additional costs. Even that seems quite optimistic to me. readytorumble schrieb:
I just skimmed through the thread... What do you actually earn?
I understand your enthusiasm and dreams, but you’re moving a bit too fast...
The tight, preset budget suggests a rather low income. With that budget, I don't see much more than 100m² (1,076 sq ft), which isn’t enough for four people. Keep in mind that 10-15m² (108-161 sq ft) will be needed just for the utility room. Our cost estimate is €255,000 turnkey including the foundation slab for 132.32 square meters (1,425 sq ft). Does anyone here have a floor plan for a bungalow or an idea where I can find one suitable for four people, possibly with a small home office?
Our combined net monthly income is about €3,900 (plus an additional €450-750, but that is variable, so it’s not included in the calculation), and we also own a condominium that would be rented out (rental income has not been included either).
KfW financing has not yet been factored into the €1,000 monthly payment with 2% repayment.
First, I would like to get a detailed cost breakdown of what the house and plot with infrastructure development will actually cost us. Then we’ll draw a line to see if it’s feasible and whether we can still live comfortably afterwards without becoming slaves to the property.
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