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 22:21haydee schrieb:
We planned and financed our build so that we can get by on one salary.One salary that covers all your fixed expenses and living costs?!
Wow, that must be a very comfortable situation for you.
Who can still build like that these days?
It's easy to judge from such a high horse, of course.
saralina87 schrieb:
It’s easy to judge from such a high horse, of course.I didn’t notice any rider here. Nor anyone passing judgment.saralina87 schrieb:
Who can still build like this nowadays?Apparently, not as few as you think. My wife’s income is currently a bonus; as the sole earner, I could cover living expenses and debt service—mainly because I have solid support, which is something you really can’t appreciate enough. Even with (supplemented) short-time work benefits, some money went into savings.saralina87 schrieb:
extremely relaxed situation.I think that on a forum mainly focused on the construction of owner-occupied residential properties, very few are truly under significant financial pressure.S
saralina8714 May 2020 22:43And yet, I believe that very few current home builders could afford to give up their entire salary, at least not if they were not already in a comfortable situation thanks to inheritance or family-owned land.
Or put differently: If only those who could afford to give up their entire salary were allowed to build, this forum would soon be unnecessary.
Or put differently: If only those who could afford to give up their entire salary were allowed to build, this forum would soon be unnecessary.
MayrCh schrieb:
My wife’s income is currently bonuses; I could cover living expenses and debt service as the sole earner—mainly because I get full support, which is something you really can’t appreciate enough. Even with (increased) short-time work benefits, some money was saved.But it also reads as if you couldn’t do without your salary...?saralina87 schrieb:
And yet, I believe that very few current homebuyers could afford to give up their entire income, at least not if they weren’t already in a comfortable position through inheritance or family land.
Or put differently: If only those who could afford to give up their entire income were allowed to build, this forum wouldn’t be needed for much longer.The key is to hold back on the "wanting." What do I want, what do I need?
Our net monthly income is about €5000 (around $5300). But we bought an existing property and renovated it, for a total of €230,000 (around $245,000). Why? Because we want to have money left over for the here and now, without having to worry.
Zoo visit for €100 (about $105)? No problem. Dinner out the next day? No problem. You can spin it that way indefinitely.
Short-time work or if my wife’s company goes bankrupt? No problem.
We don’t pay 20% of our income in mortgage installments. Sure, we could tighten our belts and pay twice as much. But is that really what you want?
S
saralina8715 May 2020 07:25Joedreck schrieb:
The trick is to hold back on what you want versus what you actually need.
Our net income is around €5000 per month. But we bought an existing property and renovated it, all for a total of €230,000. Why? Because we wanted to have money left over for the here and now, without having to worry about it.
Zoo visit for €100? No problem. Going out to eat the next day? No problem. You can keep that going.
Short-time work or the company my wife works for going bankrupt? No problem.
We don’t pay 20% of our income as mortgage payments. Sure, we could cut back and pay twice as much, but is that really what you want? I have never doubted that and I feel the same way. But that is a decision everyone has to make for themselves.