ᐅ Our lifelong project: A single-family home with 8,600 square feet of living space
Created on: 8 Nov 2020 12:49
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VanillaSwap
Good morning ladies and gentlemen,
I have found the form that everyone usually fills out in advance to provide more input. We are still trying to find a suitable plot of land. Most of the properties currently listed online in Hesse have either a too low floor area ratio or site coverage ratio, or they are unsuitable due to their location or neighborhood.
In general, we are not fixed on Hesse and have decided to remain flexible, as long as the location is not in the eastern part of the country (too far away for us), since this building project is only intended as a second home, to be used as a weekend house.
We see this house as our last major construction project before retirement. We are both very skilled at DIY work, so tasks like electrical installation planning, bathroom construction, and even building a sauna and steam bath have already been completed entirely by ourselves. We also finished the last interior work completely on our own, as well as the garden including the terrace and pond, independently built. As you can see, there is a high level of own initiative and expertise, which we believe enables us to successfully undertake such a project. Additionally, we aim to keep labor costs low by "optimizing" taxes and contributions.
General information about you:
Who are you? Father, mother, 2 teenagers.
How old are you? Parents are in their late 40s, children around 18 years old.
Are more children planned? No.
Are you employed, self-employed, retired, homemaker, etc.? Father is self-employed (lawyer with his own practice), mother does not work.
Income and assets:
What income do you have (gross/net)? Net: at least €30,000 per month as private withdrawal
How much equity do you want to invest in the house project? Preferably a low equity share to make the most of the current available funds (our consideration)
Housing costs:
No rent, own single-family house
General information about the property:
How large is the plot? We are trying to secure a plot from 1500 sqm (approximately 16,150 sq ft) upwards, preferably larger. Our motto is: the bigger, the better. Please feel free to post ideas on where to find such plots in Hesse – private tips via PM will of course be rewarded. We would need a building envelope with dimensions of about 34 x 25-30 meters (112 x 82-98 ft).
New build, existing building (year built), house type? Garage? New build with underground garage (a major wish to accommodate my husband’s small car collection)
How big is the house? (living area / usable area): approximately 800 sqm (8,600 sq ft) plus basement (part underground garage, partly fitness room, etc.)
Construction or purchase costs:
Plot costs: We are budgeting up to half a million (Euros); please correct us if this seems unrealistic. The last time we built was in ’08-’09, and at that time such a budget still worked well for the land.
Development costs: Unknown
Building or purchase costs (including architect, structural engineer): estimated €1,000,000 - €1,500,000
Additional construction-related costs (e.g., utility connections, soil surveyor, temporary power, etc.): Unknown
Outdoor facilities/terrace, paths, garden design, fences, etc.: Outdoor pool desired
Total costs: €1.5 - 2 million
Cost breakdown:
Total costs: €1,500,000
Deductible equity: e.g., €150,000
Financing amount: €1,350,000
Attached you will find some pictures that inspired us stylistically and that represent what the final product should look like. Of course, we know this project is quite demanding in terms of effort and execution, but we are confident that with our ideas and contacts within the industry, we should be able to realize it.
We very much look forward to your input and hope to receive ideas on implementation, opinions on the budget, and suggestions for possible locations of the plot.
Best regards,
S.
I have found the form that everyone usually fills out in advance to provide more input. We are still trying to find a suitable plot of land. Most of the properties currently listed online in Hesse have either a too low floor area ratio or site coverage ratio, or they are unsuitable due to their location or neighborhood.
In general, we are not fixed on Hesse and have decided to remain flexible, as long as the location is not in the eastern part of the country (too far away for us), since this building project is only intended as a second home, to be used as a weekend house.
We see this house as our last major construction project before retirement. We are both very skilled at DIY work, so tasks like electrical installation planning, bathroom construction, and even building a sauna and steam bath have already been completed entirely by ourselves. We also finished the last interior work completely on our own, as well as the garden including the terrace and pond, independently built. As you can see, there is a high level of own initiative and expertise, which we believe enables us to successfully undertake such a project. Additionally, we aim to keep labor costs low by "optimizing" taxes and contributions.
General information about you:
Who are you? Father, mother, 2 teenagers.
How old are you? Parents are in their late 40s, children around 18 years old.
Are more children planned? No.
Are you employed, self-employed, retired, homemaker, etc.? Father is self-employed (lawyer with his own practice), mother does not work.
Income and assets:
What income do you have (gross/net)? Net: at least €30,000 per month as private withdrawal
How much equity do you want to invest in the house project? Preferably a low equity share to make the most of the current available funds (our consideration)
Housing costs:
No rent, own single-family house
General information about the property:
How large is the plot? We are trying to secure a plot from 1500 sqm (approximately 16,150 sq ft) upwards, preferably larger. Our motto is: the bigger, the better. Please feel free to post ideas on where to find such plots in Hesse – private tips via PM will of course be rewarded. We would need a building envelope with dimensions of about 34 x 25-30 meters (112 x 82-98 ft).
New build, existing building (year built), house type? Garage? New build with underground garage (a major wish to accommodate my husband’s small car collection)
How big is the house? (living area / usable area): approximately 800 sqm (8,600 sq ft) plus basement (part underground garage, partly fitness room, etc.)
Construction or purchase costs:
Plot costs: We are budgeting up to half a million (Euros); please correct us if this seems unrealistic. The last time we built was in ’08-’09, and at that time such a budget still worked well for the land.
Development costs: Unknown
Building or purchase costs (including architect, structural engineer): estimated €1,000,000 - €1,500,000
Additional construction-related costs (e.g., utility connections, soil surveyor, temporary power, etc.): Unknown
Outdoor facilities/terrace, paths, garden design, fences, etc.: Outdoor pool desired
Total costs: €1.5 - 2 million
Cost breakdown:
Total costs: €1,500,000
Deductible equity: e.g., €150,000
Financing amount: €1,350,000
Attached you will find some pictures that inspired us stylistically and that represent what the final product should look like. Of course, we know this project is quite demanding in terms of effort and execution, but we are confident that with our ideas and contacts within the industry, we should be able to realize it.
We very much look forward to your input and hope to receive ideas on implementation, opinions on the budget, and suggestions for possible locations of the plot.
Best regards,
S.
B
Bertram1008 Nov 2020 14:40I had in mind that your house is well under 800 m² (8,600 sq ft). Therefore, I honestly can't imagine what the OP intends to do with 800 m² (8,600 sq ft). So far, that hasn’t been made very clear, apart from "representative purposes." 😳
It is also well below that. The original poster is talking about living area. We have just under half of what the OP wants...
If the OP actually means the total area, it would probably be similar in size to ours, including the large garage.
But even then, the budget would not really be sufficient without equity if you don’t want to make compromises.
If the OP actually means the total area, it would probably be similar in size to ours, including the large garage.
But even then, the budget would not really be sufficient without equity if you don’t want to make compromises.
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VanillaSwap8 Nov 2020 14:59rick2018 schrieb:
I'm not sure if this is meant seriously.
No doubt, the income is well above average but still "only" 30,000 per month. After taxes, if things go well, that leaves about 18,000.
And then as a holiday home, no equity contribution plus land, additional costs, etc.
For a real 800 m2 (8,600 sq ft) of living space, you'd probably end up with an all-in cost of 7–10 million.
But I'm curious to see how this will turn out. We're talking here about an income after (!) taxes of over 30,000. Still, I really appreciate your input. Congratulations on your successful project, it turned out really beautiful. One of the most impressive projects in this forum, especially the tree (over 40(?!) years old tree in front of the house 🙂 )
saralina87 schrieb:
... "optimize taxes and levies"
It's always funny that those who act like they have a lot brag about thinking it's okay to cheat. We see German tax policy as the root cause of the problem, because the environment here is much tougher compared to other countries. That’s why, in our view, it is acceptable to optimize within the legal framework.
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VanillaSwap8 Nov 2020 15:01@rick2018 we will review a few more things in your thread, but thank you very much for your input so far.
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saralina878 Nov 2020 15:03VanillaSwap schrieb:
We see German tax policy as the trigger for the problem, since the climate here is considerably harsher compared to other countries. Therefore, yes, in our opinion it is acceptable to optimize within the legal framework.Ah well. What more can be said about that...
Good luck with your showcase build. What exactly is it supposed to showcase again?
I would honestly approach this completely differently. If it’s just a weekend house, I would first narrow down the regions based on the landscapes I like. Then I would see if there are any country houses there that I can renovate beautifully. Judging by your pictures, you don’t have a modern taste. For that, I would hire a real estate agent who will take my preferences regarding location and the house into account. Then an architect to realize your wishes. You would need to significantly increase the budget for this.
May I ask how many square meters you are currently living in? Where does the 800 sqm (8,611 sq ft) figure come from?
May I ask how many square meters you are currently living in? Where does the 800 sqm (8,611 sq ft) figure come from?