Hello everyone,
this is my first post, so I would like to briefly introduce myself/us.
We are a family of four (33, 30, 5, 1) currently living in a 95m² (1,022 sq ft) 4-room condominium with a private 100m² (1,076 sq ft) garden in Cologne.
While the size of our apartment is sufficient for us, it is becoming a bit tight now with our second child, especially since I actually need my own home office. With four rooms, that is not possible.
Besides, we want to have our own place. The topic of “new build” never really came up before because our entire social circle (family/friends/neighbors/colleagues) has always focused on existing properties, and certain prejudices (too time-consuming, too risky, too expensive, too complicated, etc.) also led us to only look for existing homes.
So we have been searching for a house (terraced house, semi-detached house, etc.) for about a year.
We quickly realized that even in the less expensive districts of Cologne, a reasonably acceptable house costs at least 400,000 euros, rather 500,000 euros. When you add purchasing incidental costs and renovation expenses, you end up with about 700,000 euros, which is well over our budget.
Also, the high additional purchase costs (around 50,000 euros) bother me. On the one hand, this is the amount banks expect as equity, and on the other, I don’t really feel these fees are deserved by most real estate agents; they just demand them in my opinion.
In the past few weeks, I happened to have a conversation with someone who recently built a new home with a modular house provider (Allkauf Haus), which got things rolling. The acquaintance had positive experiences and suggested I look into it as well. I was skeptical because I couldn’t really identify with modular houses “made of wood” (timber frame construction). However, the comparatively affordable prices sparked our interest. We thought this might be our chance to realize our (affordable) dream home.
We actually visited the modular home exhibition in Frechen near Cologne to get a proper introduction to modular homes. There were many impressive houses, but when we inquired about prices, the range was between 2,000 - 3,500 euros/m² (186 - 325 USD/sq ft), which quickly dampened our initial enthusiasm. At those prices, you could also build conventionally using solid construction without all the reservations about modular homes and timber frame construction.
The last house on the tour was also the Allkauf Haus. We gave their salespeople a chance to convince us, and I have to admit they did a very good job. The salesperson was available on short notice and advised us for about two hours, and—just as expected—everything sounded great, easy, and straightforward. They said we just had to sign quickly to secure some bonus offers, etc.
Of course, we don’t have a plot yet, but they wanted us to sign anyway. They said Allkauf Haus could help us find one, and if we didn’t find a suitable plot, we could cancel the contract without problems. Even now, I can’t understand why anyone would commit contractually to a provider and a modular home without a plot and therefore without a specific development plan, etc. I see the significant advantages of this approach only on the seller’s side.
Nevertheless, I must admit that Allkauf Haus is very competitively priced (at least at first glance) compared to other providers at the modular home exhibition. Of course, there must be reasons for this, but the question is whether the potential “downsides” would be relevant to us or not...
Now, a few more details:
We planned an Allkauf Haus KfW40 single-family house without a basement, including a granny flat on the upper floor, thus benefiting from double KfW subsidies. The yet-to-be-purchased plot was budgeted at 150,000 euros (up to 40 km (25 miles) from Cologne). The single-family house with the granny flat on the upper floor is planned to have about 200m² (2,153 sq ft) of living space and to cost around 225,000 euros excluding interior finishing but including materials. The interior finishing was deliberately omitted because we want to do a lot of it ourselves (sweat equity) and have many helpers and skilled craftsmen/friends available:
Plot: 150,000 euros
Plot incidental costs: 13,000 euros
Building incidental costs: 80,000 euros (e.g., foundation slab, civil engineering, connections, etc.)
Allkauf Haus Gen. 4 including materials for interior finishing: 225,000 euros
Labor for drywall + all trades: 30,000 euros
Outdoor facilities: 30,000 euros
TOTAL: approx. 530,000 euros; minus subsidies approx. 475,000 euros.
If I consider only the house costs, the price without subsidies comes to just over 1,800 euros/m² (167 USD/sq ft), which sounds affordable but not unrealistic. With subsidies, it’s even only 1,560 euros/m² (145 USD/sq ft), which of course sounds great at first.
Compared to an existing property, we see the following advantages:
- New build (new is really new...) with significantly less need for repairs
- Energy efficiency
- Floor plan planning
- Modern construction methods, appearance, and technology
- Subsidies and lower additional purchase costs
- Larger living space
Disadvantage: Location outside of Cologne
Please forgive me for these beginner questions, but I wanted to first explain our motivation and way of thinking, and then initiate the next steps with your advice.
Financial situation:
- 4,600 euros monthly income (currently 1 income) plus 2 child benefits
- 15,000 euros equity (yes, very little; invested elsewhere)
- Budget: 530,000 euros including ALL COSTS
What we will NOT do upfront:
- Sign a contract with Allkauf Haus without first having a plot and without comparing prices with other modular home providers and regional general contractors!
What we plan to do:
- Gather information and compare offers from modular home providers suitable for us
- Obtain and compare offers for solid (masonry) construction
What bothers us about our current condominium:
- Living room is too narrow and dark at 6.10 m x 3.78 m (20 ft x 12 ft) (ground floor, area built up around us, 2 windows, southeast orientation)
- No laundry room
- No home office
What we want:
- Our own spacious detached single-family house with granny flat
- Large living/dining area (approx. 45-50m² (484 - 538 sq ft)) plus kitchen
- Bright rooms (floor-to-ceiling windows, southwest orientation of living room and garden)
- Larger entrance/reception area with gallery (open ceiling)
- Bedroom, 2 children’s rooms, laundry room, dressing room, office, guest room (combining possible)
- 2 garages
- At least 200m² (2,153 sq ft) garden
Our questions:
1. What are general experiences with Allkauf Haus (including reliability)?
2. What is the difference compared to Massa Haus (Okal Haus, Allkauf Haus, Massa Haus basically belong together)?
3. Depending on the answer to 2), would Massa Haus be a better choice if we plan to do all interior finishing ourselves?
4. Can you confirm that Allkauf Haus and Massa Haus are the most affordable modular home providers on the market?
5. Would it be possible to build a new solid construction house within the same budget?
6. If yes to 5): Does this also apply to building a KfW40 house to benefit from subsidies and with 200m² of living space?
7. Is it possible to realize the room requirements mentioned above with, for example, 150m² (1,615 sq ft) of living space instead of 200m²?
8. Do you agree with the arguments in favor of a new build?
9. In your opinion, is our budget/income sufficient to realize our wishes?
Thank you very much to everyone!
Best regards
silverminer
this is my first post, so I would like to briefly introduce myself/us.
We are a family of four (33, 30, 5, 1) currently living in a 95m² (1,022 sq ft) 4-room condominium with a private 100m² (1,076 sq ft) garden in Cologne.
While the size of our apartment is sufficient for us, it is becoming a bit tight now with our second child, especially since I actually need my own home office. With four rooms, that is not possible.
Besides, we want to have our own place. The topic of “new build” never really came up before because our entire social circle (family/friends/neighbors/colleagues) has always focused on existing properties, and certain prejudices (too time-consuming, too risky, too expensive, too complicated, etc.) also led us to only look for existing homes.
So we have been searching for a house (terraced house, semi-detached house, etc.) for about a year.
We quickly realized that even in the less expensive districts of Cologne, a reasonably acceptable house costs at least 400,000 euros, rather 500,000 euros. When you add purchasing incidental costs and renovation expenses, you end up with about 700,000 euros, which is well over our budget.
Also, the high additional purchase costs (around 50,000 euros) bother me. On the one hand, this is the amount banks expect as equity, and on the other, I don’t really feel these fees are deserved by most real estate agents; they just demand them in my opinion.
In the past few weeks, I happened to have a conversation with someone who recently built a new home with a modular house provider (Allkauf Haus), which got things rolling. The acquaintance had positive experiences and suggested I look into it as well. I was skeptical because I couldn’t really identify with modular houses “made of wood” (timber frame construction). However, the comparatively affordable prices sparked our interest. We thought this might be our chance to realize our (affordable) dream home.
We actually visited the modular home exhibition in Frechen near Cologne to get a proper introduction to modular homes. There were many impressive houses, but when we inquired about prices, the range was between 2,000 - 3,500 euros/m² (186 - 325 USD/sq ft), which quickly dampened our initial enthusiasm. At those prices, you could also build conventionally using solid construction without all the reservations about modular homes and timber frame construction.
The last house on the tour was also the Allkauf Haus. We gave their salespeople a chance to convince us, and I have to admit they did a very good job. The salesperson was available on short notice and advised us for about two hours, and—just as expected—everything sounded great, easy, and straightforward. They said we just had to sign quickly to secure some bonus offers, etc.
Of course, we don’t have a plot yet, but they wanted us to sign anyway. They said Allkauf Haus could help us find one, and if we didn’t find a suitable plot, we could cancel the contract without problems. Even now, I can’t understand why anyone would commit contractually to a provider and a modular home without a plot and therefore without a specific development plan, etc. I see the significant advantages of this approach only on the seller’s side.
Nevertheless, I must admit that Allkauf Haus is very competitively priced (at least at first glance) compared to other providers at the modular home exhibition. Of course, there must be reasons for this, but the question is whether the potential “downsides” would be relevant to us or not...
Now, a few more details:
We planned an Allkauf Haus KfW40 single-family house without a basement, including a granny flat on the upper floor, thus benefiting from double KfW subsidies. The yet-to-be-purchased plot was budgeted at 150,000 euros (up to 40 km (25 miles) from Cologne). The single-family house with the granny flat on the upper floor is planned to have about 200m² (2,153 sq ft) of living space and to cost around 225,000 euros excluding interior finishing but including materials. The interior finishing was deliberately omitted because we want to do a lot of it ourselves (sweat equity) and have many helpers and skilled craftsmen/friends available:
Plot: 150,000 euros
Plot incidental costs: 13,000 euros
Building incidental costs: 80,000 euros (e.g., foundation slab, civil engineering, connections, etc.)
Allkauf Haus Gen. 4 including materials for interior finishing: 225,000 euros
Labor for drywall + all trades: 30,000 euros
Outdoor facilities: 30,000 euros
TOTAL: approx. 530,000 euros; minus subsidies approx. 475,000 euros.
If I consider only the house costs, the price without subsidies comes to just over 1,800 euros/m² (167 USD/sq ft), which sounds affordable but not unrealistic. With subsidies, it’s even only 1,560 euros/m² (145 USD/sq ft), which of course sounds great at first.
Compared to an existing property, we see the following advantages:
- New build (new is really new...) with significantly less need for repairs
- Energy efficiency
- Floor plan planning
- Modern construction methods, appearance, and technology
- Subsidies and lower additional purchase costs
- Larger living space
Disadvantage: Location outside of Cologne
Please forgive me for these beginner questions, but I wanted to first explain our motivation and way of thinking, and then initiate the next steps with your advice.
Financial situation:
- 4,600 euros monthly income (currently 1 income) plus 2 child benefits
- 15,000 euros equity (yes, very little; invested elsewhere)
- Budget: 530,000 euros including ALL COSTS
What we will NOT do upfront:
- Sign a contract with Allkauf Haus without first having a plot and without comparing prices with other modular home providers and regional general contractors!
What we plan to do:
- Gather information and compare offers from modular home providers suitable for us
- Obtain and compare offers for solid (masonry) construction
What bothers us about our current condominium:
- Living room is too narrow and dark at 6.10 m x 3.78 m (20 ft x 12 ft) (ground floor, area built up around us, 2 windows, southeast orientation)
- No laundry room
- No home office
What we want:
- Our own spacious detached single-family house with granny flat
- Large living/dining area (approx. 45-50m² (484 - 538 sq ft)) plus kitchen
- Bright rooms (floor-to-ceiling windows, southwest orientation of living room and garden)
- Larger entrance/reception area with gallery (open ceiling)
- Bedroom, 2 children’s rooms, laundry room, dressing room, office, guest room (combining possible)
- 2 garages
- At least 200m² (2,153 sq ft) garden
Our questions:
1. What are general experiences with Allkauf Haus (including reliability)?
2. What is the difference compared to Massa Haus (Okal Haus, Allkauf Haus, Massa Haus basically belong together)?
3. Depending on the answer to 2), would Massa Haus be a better choice if we plan to do all interior finishing ourselves?
4. Can you confirm that Allkauf Haus and Massa Haus are the most affordable modular home providers on the market?
5. Would it be possible to build a new solid construction house within the same budget?
6. If yes to 5): Does this also apply to building a KfW40 house to benefit from subsidies and with 200m² of living space?
7. Is it possible to realize the room requirements mentioned above with, for example, 150m² (1,615 sq ft) of living space instead of 200m²?
8. Do you agree with the arguments in favor of a new build?
9. In your opinion, is our budget/income sufficient to realize our wishes?
Thank you very much to everyone!
Best regards
silverminer
Had to smile. This is the standard approach of Allkauf Haus throughout Germany. Whether solid construction or prefab, there’s not much difference. With two children, you won’t be able to provide unlimited own labor.
Your demands and wishes are very high; I think it won’t work for less than 700,000 euros (about 747,000 dollars) — and even then, only with an affordable plot of land, which is now available in very few regions.
Your demands and wishes are very high; I think it won’t work for less than 700,000 euros (about 747,000 dollars) — and even then, only with an affordable plot of land, which is now available in very few regions.
silverminer schrieb:
Regarding the prices, we could have just as well built conventionally with a solid structure, without all the reservations against prefabricated houses, timber construction, etc. No one claimed that prefabrication is cheaper than solid construction. That is a misconception.
silverminer schrieb:
Of course, we don’t have a plot yet, but we should sign anyway. Scam artists and conmen. Good thing you didn’t sign.
silverminer schrieb:
What we want:
- Own, spacious, detached single-family house with a granny flat / secondary apartment Do you really want tenants in your new own house?
silverminer schrieb:
Large living/dining area (approx. 45-50m² (480-540 sq ft)) plus kitchen silverminer schrieb:
Large entrance/reception area with gallery (open ceiling) silverminer schrieb:
Bedroom, 2 children’s rooms, laundry room, walk-in closet, study, guest room silverminer schrieb:
2 garages That sounds like you’re claiming the 200 m² (2,150 sq ft) just for yourselves.
The 50 m² (540 sq ft) for the open-plan living area plus kitchen is larger than average, even in bigger houses.
Gallery, walk-in closet, AND study/guest room suggest at least 180 m² (1,940 sq ft) upwards.
Keep in mind that a granny flat means a tenant or a couple, including a balcony (additional costs) and a parking space.
Also, you’re mixing apples and oranges.
On one side, a used property in Cologne; on the other, a new build 40 km (25 miles) outside.
Would you also look for a used property 40 km (25 miles) away from Cologne? Why not? That should still be an option, right?
Have you checked how expensive plots are in your area?
The 225,000 for 200 m² (2,150 sq ft) sounds like wishful thinking – a lot of work will be needed. Even skilled hobby builders have to invest working time for you, which must be paid.
Welcome to the forum
And welcome to the lion’s den! You’ve triggered quite a few “touchy topics,” such as KfW40, granny flats, distrust of real estate agents, the misconception that prefab houses are always wooden, many wishes versus income and equity, and so on. Now you’ll need a thick skin.
What caught my attention:
These are some expensive wishes. With your budget, you’ll need to prioritize what’s really important and what you can cut. Two garages, for example, might be something for the future once you have more funds available.
And keep in mind, new builds will be in a similar price range as existing properties plus renovation costs, so keep looking on that side too. Don’t get frustrated with the real estate agent — that’s just how it is.
And welcome to the lion’s den! You’ve triggered quite a few “touchy topics,” such as KfW40, granny flats, distrust of real estate agents, the misconception that prefab houses are always wooden, many wishes versus income and equity, and so on. Now you’ll need a thick skin.
What caught my attention:
silverminer schrieb:Does “otherwise well invested” mean you have more money saved elsewhere?
- 15k equity (yes, very little; otherwise well invested)
silverminer schrieb:That’s going to be tight. Let’s say 160m² times €2200/m² plus €50,000 in additional building costs would already be around €400,000. Garage, landscaping, kitchen, etc. not included — so you’d have about €100,000 left for land. Can you buy a plot for that?
- Budget: €530k including ALL COSTS
silverminer schrieb:
What we wish for:
- Own, spacious, detached single-family home with a granny flat
- Large living/dining area (around 45-50m² (485-538 sq ft)) plus kitchen
- Bright rooms (floor-to-ceiling windows, southwest orientation of living room and garden)
- Large entrance/reception area with gallery (open ceiling)
- Bedroom, 2 children’s rooms, laundry room, dressing room, study, guest room (some rooms can be combined)
- 2 garages
These are some expensive wishes. With your budget, you’ll need to prioritize what’s really important and what you can cut. Two garages, for example, might be something for the future once you have more funds available.
silverminer schrieb:You’ve definitely done everything right so far by not signing anything. First, find a suitable plot and see how much money you have left.
In advance, what we WON’T do:
- Sign a contract with Allkauf Haus in the short term without first having a plot and without comparing prices with other prefab suppliers and regional general contractors!
And keep in mind, new builds will be in a similar price range as existing properties plus renovation costs, so keep looking on that side too. Don’t get frustrated with the real estate agent — that’s just how it is.
S
silverminer2 Nov 2020 11:18Good morning,
I am overwhelmed and pleasantly surprised by how quickly competent suggestions are provided here.
Many thanks in advance to everyone, of course also to the users with the more critical comments.
To ensure we are all on the same page for further discussion, I need to clarify some points, correct others, but also acknowledge certain aspects.
I’ll try to do this using the quote function:
We do live environmentally consciously but I would rate our level as “average.”
The KfW40 consideration is purely financial. If you are building new anyway according to the current state of the art and could achieve a KfW40 standard with somewhat more effort, we would naturally like to do that to receive the premium. The motivation here is clearly primarily economic. In the end, you have to weigh effort versus benefit. If the subsidy is higher than the effort, why not?
For that reason, it might ultimately be a non-KfW / KfW70 / KfW55 / KfW40 / KfW40+ etc. scenario...
The positive side effect of monthly energy savings is more of a “nice to have” for us.
We do not intend to rent out the new building. The granny flat was planned to obtain additional funding. We came to this idea because a good friend chose this option. They actually have their grandmother living with them in her separately closed unit. However, you can design a “granny flat” upstairs (as an independent unit) and still use it together.
Here too, the topic of the granny flat is purely an economic consideration. It’s basically not an expensive extension or something like that, but rather a “reservation” of the existing living space upstairs as a separate unit. The kitchen can ultimately still serve as a laundry room, and you can also leave the flat’s entrance door open.
The pleasant side effect was the increased living space, which is why 200m² (2,150 ft²) of living space was mentioned (2 x 100m² (1,075 ft²)).
Yes, in the end, that is probably what it will come down to, which with some compromises on the original plan would be okay. Life isn’t a wish concert.
However, I can’t shake the idea of a (formal) granny flat. Even with 160m² (1,725 ft²) of living area, you could still accommodate a granny flat.
Completely correct. That’s exactly what bothers me. Without the plot, any planning is pointless and potentially useless, as everything might have to be planned differently. The signing is supposed to take place exactly in the “dream phase,” when you see your dream home through rose-colored glasses. In the end, the disappointment is huge, and you only hear “It’s not OUR fault. WE could build like this if THEIR plot allowed it.”
Congratulations.
That was exactly our motivation. Including 2 x KfW funding + BAFA, a subsidy of around 70,000 Euros (about 74,000 USD) was calculated for us. Effectively, that reduces the loan from approximately 530,000 Euros (about 560,000 USD) to around 460,000 Euros (about 485,000 USD).
I have to say, that sounds very attractive.
A new build with 200m² (2,150 ft²) of living space for a total of 460,000 Euros (about 485,000 USD). It almost sounds like a headline and too good to be true, but that is exactly why I want to pursue it.
(...without wanting to spark a moral discussion regarding the use of double subsidies).
Yes, I have read that several times. A bit of common sense and trusting your gut feeling should help make the decision easier.
No, as I wrote above, there won’t be tenants in the new house. I should have made that clearer in the initial post.
Yes, to be fair, we would also look for an existing property 40 km (25 miles) outside of Cologne, which we are doing.
As long as the larger new build with KfW, granny flat & co. doesn’t turn out to be a total pipe dream, we would prefer it at similar costs.
Plots in Cologne are almost unaffordable for ordinary people. The square meter prices can roughly be estimated at 800 to 1,000 Euros/m² (about 74 to 93 USD/ft²), I think.
The 225,000 Euros (about 237,000 USD) for 200m² (2,150 ft²) includes only the prefab house including roof, skylights, facade, windows, window sills, and exterior plaster. Only the materials for the interior finish are included. Including screed, drywall, interior finishing, etc., we are rather at 300,000 Euros (about 316,000 USD) plus plot plus additional construction costs.
Thank you. Yes, I was not aware of that and it was not intentional. Now I have to tough it out. ^^
We invested around 80,000 Euros (about 84,000 USD) in another property two years ago. That was for private reasons and at that time, we had other priorities. The money cannot and should not be liquidated again, so effectively, the money no longer exists.
No. For 100,000 Euros (about 105,000 USD), there’s nothing even in the 40 km (25 miles) radius; minimum 120,000 - 150,000 Euros (about 126,000 - 158,000 USD).
Thanks for the suggestions. We will indeed have to make compromises.
We would prefer a new build, but as mentioned several times, the “plot” issue is our biggest problem.
Therefore, we cannot completely dismiss the existing property option, but as I quoted myself:
I am overwhelmed and pleasantly surprised by how quickly competent suggestions are provided here.
Many thanks in advance to everyone, of course also to the users with the more critical comments.
To ensure we are all on the same page for further discussion, I need to clarify some points, correct others, but also acknowledge certain aspects.
I’ll try to do this using the quote function:
11ant schrieb:
KfW40 or other standard exceedances are a product for builders who see themselves as part of the eco-sustainability avant-garde and at best make financial sense only for well-off, committed individuals. Forget the dream of a better conscience for the average person that also almost pays for itself.
We do live environmentally consciously but I would rate our level as “average.”
The KfW40 consideration is purely financial. If you are building new anyway according to the current state of the art and could achieve a KfW40 standard with somewhat more effort, we would naturally like to do that to receive the premium. The motivation here is clearly primarily economic. In the end, you have to weigh effort versus benefit. If the subsidy is higher than the effort, why not?
For that reason, it might ultimately be a non-KfW / KfW70 / KfW55 / KfW40 / KfW40+ etc. scenario...
The positive side effect of monthly energy savings is more of a “nice to have” for us.
11ant schrieb:
The same applies to starting a career as a small-scale residential landlord, aka renting out a granny flat: that really does not pay off for average earners. Being a landlord with a “portfolio” of one unit at best is a self-sustaining hobby (and no, it is not a retirement plan, that’s nonsense from financial advisors).
We do not intend to rent out the new building. The granny flat was planned to obtain additional funding. We came to this idea because a good friend chose this option. They actually have their grandmother living with them in her separately closed unit. However, you can design a “granny flat” upstairs (as an independent unit) and still use it together.
Here too, the topic of the granny flat is purely an economic consideration. It’s basically not an expensive extension or something like that, but rather a “reservation” of the existing living space upstairs as a separate unit. The kitchen can ultimately still serve as a laundry room, and you can also leave the flat’s entrance door open.
The pleasant side effect was the increased living space, which is why 200m² (2,150 ft²) of living space was mentioned (2 x 100m² (1,075 ft²)).
11ant schrieb:
With the described needs and conditions, I see you in an average house without a granny flat, i.e., look around here in threads where other everyday families discuss their 140 to 160 sqm (1,500 to 1,725 ft²) family homes.
Yes, in the end, that is probably what it will come down to, which with some compromises on the original plan would be okay. Life isn’t a wish concert.
However, I can’t shake the idea of a (formal) granny flat. Even with 160m² (1,725 ft²) of living area, you could still accommodate a granny flat.
HilfeHilfe schrieb:
That’s typical bait-and-switch. The plot isn’t there and they’re selling the shell. But the shell won’t run away. It’s like someone selling you a car without tires. And at some point, the tires come that fit a Fiat but not your Opel.
Completely correct. That’s exactly what bothers me. Without the plot, any planning is pointless and potentially useless, as everything might have to be planned differently. The signing is supposed to take place exactly in the “dream phase,” when you see your dream home through rose-colored glasses. In the end, the disappointment is huge, and you only hear “It’s not OUR fault. WE could build like this if THEIR plot allowed it.”
Congratulations.
superzapp schrieb:
I have to strongly disagree. I can’t provide full numbers yet, but from the numbers so far and my gut feeling, I would say the extra cost for KfW40(+) is less than the subsidy amount. Especially with a granny flat when there are two 25% grants for about 200m² (2,150 ft²).
That was exactly our motivation. Including 2 x KfW funding + BAFA, a subsidy of around 70,000 Euros (about 74,000 USD) was calculated for us. Effectively, that reduces the loan from approximately 530,000 Euros (about 560,000 USD) to around 460,000 Euros (about 485,000 USD).
I have to say, that sounds very attractive.
A new build with 200m² (2,150 ft²) of living space for a total of 460,000 Euros (about 485,000 USD). It almost sounds like a headline and too good to be true, but that is exactly why I want to pursue it.
(...without wanting to spark a moral discussion regarding the use of double subsidies).
Bookstar schrieb:
Had to smile. That’s the standard tactic of Allkauf Haus all across Germany. Whether solid or prefabricated house doesn’t make much difference.
Yes, I have read that several times. A bit of common sense and trusting your gut feeling should help make the decision easier.
ypg schrieb:
Do you want tenants in your own new house?
No, as I wrote above, there won’t be tenants in the new house. I should have made that clearer in the initial post.
ypg schrieb:
On one side a used property in Cologne, on the other a new build 40 km (25 miles) outside. Would you also search 40 km (25 miles) outside of Cologne for a used property? Why not? It’s probably still an option, right?
Have you checked how expensive plots are in your area?
The 225,000 Euros (about 237,000 USD) for 200m² (2,150 ft²) sounds like a sales gimmick—you will have to put serious effort in. Even skilled tradespeople have to invest their time for you, which needs to be paid.
Yes, to be fair, we would also look for an existing property 40 km (25 miles) outside of Cologne, which we are doing.
As long as the larger new build with KfW, granny flat & co. doesn’t turn out to be a total pipe dream, we would prefer it at similar costs.
Plots in Cologne are almost unaffordable for ordinary people. The square meter prices can roughly be estimated at 800 to 1,000 Euros/m² (about 74 to 93 USD/ft²), I think.
The 225,000 Euros (about 237,000 USD) for 200m² (2,150 ft²) includes only the prefab house including roof, skylights, facade, windows, window sills, and exterior plaster. Only the materials for the interior finish are included. Including screed, drywall, interior finishing, etc., we are rather at 300,000 Euros (about 316,000 USD) plus plot plus additional construction costs.
Tassimat schrieb:
Welcome to the forum
And welcome to the lion’s den! You’ve triggered several “sensitive topics” such as KfW40, granny flat, distrust of real estate agents, ignorance that prefab houses are always made of wood, lots of wishes vs. income and equity etc. Now you’ll need thick skin
Thank you. Yes, I was not aware of that and it was not intentional. Now I have to tough it out. ^^
Tassimat schrieb:
Does “well invested elsewhere” mean you have saved even more money?
We invested around 80,000 Euros (about 84,000 USD) in another property two years ago. That was for private reasons and at that time, we had other priorities. The money cannot and should not be liquidated again, so effectively, the money no longer exists.
Tassimat schrieb:
That’s going to be tight. Let’s say 160m² (1,725 ft²) times 2,200 Euros/m² (about 204 USD/ft²) plus 50,000 Euros (about 53,000 USD) in additional construction costs would be already 400,000 Euros (about 421,000 USD) alone. Garage, landscaping, kitchen, etc. not included, so about 100,000 Euros (about 105,000 USD) remain for a plot. Will you find one for that?
No. For 100,000 Euros (about 105,000 USD), there’s nothing even in the 40 km (25 miles) radius; minimum 120,000 - 150,000 Euros (about 126,000 - 158,000 USD).
Tassimat schrieb:
There are some expensive wishes included. With your budget, you will have to decide what is really important to you and what you can drop. Two garages, for example, is something for the future when you have more money again.
Anyway, you have done everything right here and have signed nothing. First, look for a suitable plot and see how much money is left.
And keep in mind, a new build will be roughly at the same price level as an existing property plus renovation costs, so keep searching there, too. Don’t be upset about the real estate agent, it’s just how it is.
Thanks for the suggestions. We will indeed have to make compromises.
We would prefer a new build, but as mentioned several times, the “plot” issue is our biggest problem.
Therefore, we cannot completely dismiss the existing property option, but as I quoted myself:
As long as the larger new build with KfW, granny flat & co. doesn’t turn out to be a total pipe dream, we would prefer it at similar costs.
silverminer schrieb:
However, it is possible to plan the “granny flat” on the upper floor as a separate living unit and still use it jointly. silverminer schrieb:
Rather, it is about “reserving” the existing living space on the upper floor as an independent unit. The kitchen can ultimately still be used as a laundry room, and the apartment entrance door can be left open. To my knowledge, a granny flat must be an independent and subordinate dwelling when applying for the building permit/planning permission. There is no option for “shared use” or “for later.” It requires a separate entrance, privacy, kitchen, and sanitary facilities.
Before relying on such possibilities or altering details just to qualify for subsidies, your personal financial situation should first be fundamentally sound.
Personally, I believe that every granny flat funded by the government (i.e., indirectly paid for by taxpayers) should be made available on the housing market, meaning that we, as taxpayers, should theoretically have access to that housing.
S
silverminer2 Nov 2020 12:45ypg schrieb:
To my knowledge, a secondary apartment must be a self-contained and subordinate unit when submitting a building permit / planning permission application. There is no such thing as “shared use” or “for later.” It requires a separate entrance, full separation, kitchen, and bathroom facilities.
Before you rely on such options or try to adjust things just to obtain funding, your personal financial situation should fundamentally be in order.
Personally, I believe that every secondary apartment funded by the government (i.e., indirectly paid for or supported by us taxpayers) should also be made available on the housing market, so that we, as taxpayers, theoretically benefit from the apartment. Yes, you are right. As mentioned at the beginning, we are still in the initial planning phase, where we are brainstorming and thinking out loud. Many ideas may be discarded quickly, and that is exactly why I am grateful for any kind of support and suggestions from the many experts here.
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