ᐅ Is Buying a House for up to €350,000 Realistic?

Created on: 1 Jun 2020 09:31
M
Mlt1402
M
Mlt1402
1 Jun 2020 09:31
Dear Forum,

We are about to purchase a plot of land (500m2 (5,382 sq ft)) and are trying to get an idea of the costs involved in building a house.

Our maximum budget for the house construction is €400,000, but since we want to have a safety margin, we initially set a budget of €350,000.

Our ideal house would have a pitched roof and a basement, with approximately 130m2 (1,400 sq ft) of living space—no frills, no luxury, but still modern.

We are unsure whether to go for a traditional masonry build or a prefabricated house. A well-known local company specializing in masonry construction quoted us costs of around €3,000 per m2 (€3,000 per 10.8 sq ft) as a basis for a “standard house.”

At first, this sounds quite expensive to me.

Since we could imagine contributing some work ourselves (with help from acquaintances and skilled friends), we hope to reduce costs somewhat this way.

Is it necessary to plan for €3,000 per m2 in any case? Even with prefabricated houses? I am also quite skeptical of the attractive offers in catalogues.

I would greatly appreciate your feedback.
H
haydee
1 Jun 2020 09:35
2000 to 2200 euros per square meter + basement + garage + additional construction costs + landscaping.
Building on a hillside is more expensive.
M
Mlt1402
1 Jun 2020 09:36
It is not a hillside location – everything is flat at the edge of the field.
H
haydee
1 Jun 2020 09:37
No basement, but instead one extra above-ground storage room, and you get a nice little house within your budget.
M
Mlt1402
1 Jun 2020 09:38
haydee schrieb:

Remove the basement, add one more above-ground storage room, and you’ll get a nice house within your budget.

Thank you for your feedback and assessment.
P
Pierre
1 Jun 2020 09:40
So you want to build a new house of approximately 130 sqm (1400 sq ft) plus a basement?

There are important questions that need to be clarified first:
- Is there a soil analysis for the building area? For example, is there a risk of groundwater?
- Will the basement be used as a utility basement or a living space?

Depending on the answers, you can already budget around 100,000 (currency) just for the basement. Therefore, it might be worth considering whether enlarging the house could be more cost-effective.