ᐅ Prefabricated House or Traditional Solid Construction Companies – Budget
Created on: 13 May 2020 12:56
C
Cary2020
Hello everyone. As you can see, I am new here and looking for advice. We are 25 and 27 years old, both employed, and our monthly net income is 3100 € (approximately $3,400). We have no equity saved up (we are already aware of the risks). Now, by coincidence, we have found a plot of land. It’s the only one in the area that meets our expectations (small, no more than 500 m² (6000 sq ft)). It was more or less a “random find.” Although we had agreed that we wanted to build a house someday, we hadn’t expected it to happen so soon. We want to build at the edge of the Harz mountains, in Lower Saxony. That’s the basic info.
Over the past few days, we have spent a lot of time researching the topic but have not reached any concrete conclusions yet. We have had initial phone appointments with banks; even without equity, it’s not impossible, and some very reputable, well-known banks were involved. We have further appointments with first companies and additional banks planned for next week. However, I would also like to connect with “regular” homeowners to get realistic assessments because we probably belong to this group ourselves.
Does anyone have experience with building a house at our income level? Is it feasible not only on paper but also in reality?
Then the big question arises: do we want a traditional solid house (brick and mortar) or a prefab house? Twenty years ago, when my parents built their home, prefab houses had a bad reputation. Nowadays, that seems to have improved significantly. Basically, we are still undecided. We see major advantages with prefab houses in the absence of moisture problems, clearly the price (is that really the case?), and according to experience reports, there is less shoddy workmanship. I’m hoping to learn from your experiences here.
The last point, of course, will be contacting companies. I am a bit hesitant about regional developers and would prefer to get in touch with larger firms like Viebrockhaus (probably quite expensive), Massa Haus, Arge, etc. Here too, I hope to have an initial exchange with you.
As you can see, we are just starting out and would like to bring some orientation to our confusion of thoughts. Thanks in advance for your help.
Over the past few days, we have spent a lot of time researching the topic but have not reached any concrete conclusions yet. We have had initial phone appointments with banks; even without equity, it’s not impossible, and some very reputable, well-known banks were involved. We have further appointments with first companies and additional banks planned for next week. However, I would also like to connect with “regular” homeowners to get realistic assessments because we probably belong to this group ourselves.
Does anyone have experience with building a house at our income level? Is it feasible not only on paper but also in reality?
Then the big question arises: do we want a traditional solid house (brick and mortar) or a prefab house? Twenty years ago, when my parents built their home, prefab houses had a bad reputation. Nowadays, that seems to have improved significantly. Basically, we are still undecided. We see major advantages with prefab houses in the absence of moisture problems, clearly the price (is that really the case?), and according to experience reports, there is less shoddy workmanship. I’m hoping to learn from your experiences here.
The last point, of course, will be contacting companies. I am a bit hesitant about regional developers and would prefer to get in touch with larger firms like Viebrockhaus (probably quite expensive), Massa Haus, Arge, etc. Here too, I hope to have an initial exchange with you.
As you can see, we are just starting out and would like to bring some orientation to our confusion of thoughts. Thanks in advance for your help.
S
saralina8714 May 2020 16:11Let’s assume the house costs 1,600 euros (installment + additional costs) – that leaves 1,500 euros for two people to live on. Besides the risk factor: Is that really AS unrealistic as it’s being presented here?
Yes, every child’s dream.
Others go on vacation while you’re stuck at home again. Italy is only known from TV.
Others watch great series, you only have four channels. Satellite and cable are too expensive.
Others get Capri Sun, you have homemade blackcurrant juice.
Others wear trendy clothes, you wear hand-me-downs from your cousin.
And so on.
Parents never had time. Work, house, vegetable garden.
You grew up like that. I found it so awful that I never want to impose that on my child. I don’t mean spoiling my child with consumer goods, but a healthy middle ground.
What will you do if you or your partner get sick? Really sick or unemployed? 2008 is too long ago for you, you survived Corona, and the next crisis is sure to come.
We also do a lot ourselves, simply because we learned how. But without necessity, to limit yourself that much and work only for the house just to get by, never ever.
After 10 years, tragedy strikes and you have nothing. Not a single cent in savings, having to leave the house, etc.
If you want to build with a small budget and do a lot yourself, then look for a small builder. One who builds two houses and has a good reputation. One without salespeople, without a show home, without glossy brochures.
Others go on vacation while you’re stuck at home again. Italy is only known from TV.
Others watch great series, you only have four channels. Satellite and cable are too expensive.
Others get Capri Sun, you have homemade blackcurrant juice.
Others wear trendy clothes, you wear hand-me-downs from your cousin.
And so on.
Parents never had time. Work, house, vegetable garden.
You grew up like that. I found it so awful that I never want to impose that on my child. I don’t mean spoiling my child with consumer goods, but a healthy middle ground.
What will you do if you or your partner get sick? Really sick or unemployed? 2008 is too long ago for you, you survived Corona, and the next crisis is sure to come.
We also do a lot ourselves, simply because we learned how. But without necessity, to limit yourself that much and work only for the house just to get by, never ever.
After 10 years, tragedy strikes and you have nothing. Not a single cent in savings, having to leave the house, etc.
If you want to build with a small budget and do a lot yourself, then look for a small builder. One who builds two houses and has a good reputation. One without salespeople, without a show home, without glossy brochures.
saralina87 schrieb:
Suppose the house costs 1,600 euros (installment + additional costs) – leaving 1,500 euros for two people to live on.
Aside from the risks:
Is this really AS unrealistic as it’s being portrayed here? Private retirement savings
Children
Loss of income due to illness or unemployment
Materials for all the DIY work that still needs to be done
A different car or expensive parts. You can argue whether a 3,000-euro replacement part should be invested in a car worth 500 euros
It’s doable, but nothing must ever go wrong. Do you want to eat pasta with ketchup for a month because the electricity bill was unexpectedly high? That only happens if the washing machine breaks down or the car needs new tires.
Just leave him be. I’m tired of responding to things like this. Yes, many people here build with higher incomes and bigger budgets, and even they have to cover additional costs.
But believing that everything is fine just because the bank and a general contractor give the green light is simply ridiculous. I think you are currently in the top 10 (if not the top 1) of the lowest incomes among those who have asked questions in the last 12 months. That says a lot.
But believing that everything is fine just because the bank and a general contractor give the green light is simply ridiculous. I think you are currently in the top 10 (if not the top 1) of the lowest incomes among those who have asked questions in the last 12 months. That says a lot.
S
saralina8714 May 2020 16:32haydee schrieb:
Private retirement savings
Children
Loss of income due to illness or unemployment
Materials for all the remaining DIY work that still needs to be done
A different car or expensive parts. You could argue whether a €3,000 (about $3,200) replacement part is worth putting into a car worth only €500 (about $530)
It’s doable as long as nothing goes wrong. Do you want to eat pasta with ketchup for a month because the electricity bill is unexpectedly high? That only happens if the washing machine breaks down or the car needs new tires.The original poster already mentioned that no children are planned, so that can be excluded.
Currently, it’s just the two of us, and our fixed monthly expenses (retirement savings, insurance, car, etc.) amount to 700 euros (about $750). Of that, 200 euros (about $215) are purely discretionary — things we have just because we can (such as TV subscriptions, lottery tickets, sports streaming, etc.) — and are definitely not essential. For food, fuel, toiletries, and so on, we currently spend around 700 euros (about $750), and we could certainly be more economical there as well. So, we could comfortably get by on about 1,200 euros (about $1,300) per month without living poorly or being overly frugal.
That theoretically leaves 300 euros (about $320) left over!
Personally, I would probably find the plan too uncertain, but I don’t think it’s nearly as dramatic as you do.