ᐅ Our lifelong project: A single-family home with 8,600 square feet of living space
Created on: 8 Nov 2020 12:49
V
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.
V
VanillaSwap8 Nov 2020 15:22ypg schrieb:
Me neither. But I’m pretty sure this will turn into one of those boredom-induced Corona threads.
Even worse: with that income, I would have saved up more equity—beyond just covering my living expenses. But anyway... what do you want here now? Brighten up a nice Sunday with Pinterest houses from England? By the way, there is a similar little house in our town: definitely not 800 sqm (8,600 sq ft), because somehow that seems quite unrealistic, right?! 🙂 The 150k (150,000) was just a suggestion, and yes, it would be a shame if only 150k (150,000) equity were saved from the income. The number is subject to change and by no means fixed, just like the 800 sqm (8,600 sq ft) of living space. We were simply interested in a well-founded and reasoned opinion on the best way to approach this and what would be the best course of action.
Well, it doesn’t really surprise me. And no envy at all ;-) It’s the combination of being huge (where only the size itself matters), cutting costs on workers, and taxes. Rick also builds big, and I haven’t heard any envy discussions about him because he writes very down-to-earth. And he pays good money for quality.
By the way, here in my area, houses are for sale starting at 1 million or more, and they are anything but mansions, nor do they come close to having the size of land plots found here. You might get around 200 sqm (2,150 sq ft) and a fairly nice plot. But not more than that.
By the way, here in my area, houses are for sale starting at 1 million or more, and they are anything but mansions, nor do they come close to having the size of land plots found here. You might get around 200 sqm (2,150 sq ft) and a fairly nice plot. But not more than that.
B
Bertram1008 Nov 2020 15:30What I don’t understand either: you write “life project,” but you are just about to enter a transitional phase. This is the worst possible time to start a “life project.” If you have two teenagers in the house, they will probably have moved out in about 5–8 years. It would be quite strange to start a “life project” now when the needs are likely to change soon.
V
VanillaSwap8 Nov 2020 15:33Bertram100 schrieb:
What I don’t understand either: you call it a "life project," but you are actually approaching a transitional phase. That is the worst possible time to start a "life project." If you have two teenagers in the house, they will probably move out in about 5–8 years. So it seems quite odd to start a "life project" now when the needs will likely change soon. The point is that we want to complete the whole house building process before reaching an age when strength and energy decline, which is more likely to happen in 10 years than now.
B
Bertram1008 Nov 2020 15:42VanillaSwap schrieb:
where strength is still more present than in 10 years.If health and energy are already limited, I would advise against taking on too much. Homeownership comes with responsibilities. Even if you do little or nothing yourself in the house, you still need to keep track, maintain things, and organize staff. These tasks are not very enjoyable. If your energy is almost depleted now, at around mid-40s I estimate, then definitely get rid of all unnecessary stuff and focus on what really matters: living and dwelling. Not on impressing others while wasting environment, energy, and money.N
nordanney8 Nov 2020 15:48Cool thread start. Lawyer spouse, who works 20 hours a week and handles heavy equipment aside from that. Looking for a large plot in a great location at a bargain price. 800 sqm (8600 sq ft) of living space as a weekend house and no clue whatsoever. And on top of that, here in the building forum. Typical troll thread.
1. Find top real estate agents for plots
2. Increase the plot price including ancillary costs to at least €1 million as a starting point
3. Find top architects
4. Raise the budget to €3 million for the house plus landscaping and other outdoor facilities
5. Find a bank – which is no problem with the additional security of a fully paid-off house in a suitable location
6. Consult psychologists regarding treatment for attention-seeking behavior and megalomania
7. Be happy with the new house
1. Find top real estate agents for plots
2. Increase the plot price including ancillary costs to at least €1 million as a starting point
3. Find top architects
4. Raise the budget to €3 million for the house plus landscaping and other outdoor facilities
5. Find a bank – which is no problem with the additional security of a fully paid-off house in a suitable location
6. Consult psychologists regarding treatment for attention-seeking behavior and megalomania
7. Be happy with the new house
Similar topics