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.
Pinky0301 schrieb:
The high society lives in the Main-Taunus or Hochtaunus district 😉However, the budget will likely only be enough for the plot.
Where the 800 sqm (8600 sq ft) are supposed to come from ... you can build a suitably sized shell on the outside, finish 200 sqm (2150 sq ft) inside, and simply hide the rest behind a wall. The fake society will surely understand that ;-)
A
Alessandro9 Nov 2020 08:08800 square meters (8600 square feet) is not that much.
With an indoor pool and wellness/fitness area, 300 square meters (3200 square feet) can quickly be used up.
With an indoor pool and wellness/fitness area, 300 square meters (3200 square feet) can quickly be used up.
Since I apparently overlooked at the beginning that this is meant to be a weekend home, I withdraw my previous comment about using the equity tied up in the existing property.
I also missed the underground parking lot. Therefore, I would reconsider the project costs (quite neutrally).
800 sqm (8,600 sq ft) of high-quality, extravagant construction is definitely not 1,000,000 – 1,500,000, it will be much more:
With at least €3,000 per sqm (approximately $316 per sq ft) for the house, we are looking at €2,400,000, and for the basement of 400 sqm (4,300 sq ft) intended for the vehicle fleet, let’s assume €1,000 per sqm (approximately $105 per sq ft)... including additional construction costs, that totals about 3 million euros.
On top of that, a plot of land costing €500,000 in a rural area... well, now there is only €150,000 equity available.
This brings me back to my first point − no bank will finance this; no matter how large and profitable the practice may be.
Moreover, such a project is practically unsellable through the bank, because the market lacks buyers.
In my opinion, the art should be displayed in the notary’s office.
Cost-wise, this is a crazy idea.
My advice: take the €150,000 equity, lease a large motorhome instead of building a weekend house for 3 million euros, and show up with that − it will always attract admiring looks that you can impress. But that’s different from envy. It is not always envy when down-to-earth people find something impressive but too excessive and unnecessary − and therefore question the motives, especially in today’s times.
VanillaSwap schrieb:
since this construction project is anyway only a second home, to be used as a weekend house.
I also missed the underground parking lot. Therefore, I would reconsider the project costs (quite neutrally).
VanillaSwap schrieb:
Construction or purchase costs (including architect, structural engineer): estimated 1,000,000 – 1,500,000
800 sqm (8,600 sq ft) of high-quality, extravagant construction is definitely not 1,000,000 – 1,500,000, it will be much more:
With at least €3,000 per sqm (approximately $316 per sq ft) for the house, we are looking at €2,400,000, and for the basement of 400 sqm (4,300 sq ft) intended for the vehicle fleet, let’s assume €1,000 per sqm (approximately $105 per sq ft)... including additional construction costs, that totals about 3 million euros.
On top of that, a plot of land costing €500,000 in a rural area... well, now there is only €150,000 equity available.
This brings me back to my first point − no bank will finance this; no matter how large and profitable the practice may be.
Moreover, such a project is practically unsellable through the bank, because the market lacks buyers.
VanillaSwap schrieb:
Cost breakdown:
Total costs: 1,500,000
Deductible equity: for example €150,000
Loan amount: 1,350,000
hampshire schrieb:
800 sqm (8,600 sq ft) of living space is not extraordinary. For instance, a generous guest area, a ballroom, and a suitably sized kitchen would fit. Space can be quickly used up if art is displayed “appropriately”... there is virtually no limit to imagination here.
In my opinion, the art should be displayed in the notary’s office.
Cost-wise, this is a crazy idea.
My advice: take the €150,000 equity, lease a large motorhome instead of building a weekend house for 3 million euros, and show up with that − it will always attract admiring looks that you can impress. But that’s different from envy. It is not always envy when down-to-earth people find something impressive but too excessive and unnecessary − and therefore question the motives, especially in today’s times.
I have a property offer with excellent connections and the potential to sell such an estate again in the future. In my opinion, there were already some plans for up to 1600 sqm (17,200 sq ft) of living space, but back then it was listed for around 16 million.
It sounds odd, but at least in the Hoch-/Main-Taunus district, this is nothing unusual... Your budget from the first post is typically required just for a standard single-family house of 200 sqm (2,150 sq ft). Economically, such a residence only makes sense as a new build in a location that can be sold again if necessary—so in Hesse, realistically only in the Rhine-Main area. For example, Bad Homburg has many houses of this size and even larger, both near the Hardtwald forest and elsewhere, and these properties are being traded. On the Kassel slope, you will likely never get rid of a bunker without massive loss in value.
What I find quite charming is your enthusiasm for doing work yourself. We also plan to do a lot of interior finishing ourselves, but in the described representative environment, I wouldn’t trust myself, because the requirements are quite different from those of a standard single-family home. For example: tiling is no problem, but installing floor-to-ceiling marble slabs is something else. Assembling an IKEA kitchen is very relaxed, but a Siematic kitchen with a 10 cm (4 inch) stone countertop is never going to be easy, and this probably applies to the entire project.
I am trying to take this seriously, but there are several statements that make me doubt.
It sounds odd, but at least in the Hoch-/Main-Taunus district, this is nothing unusual... Your budget from the first post is typically required just for a standard single-family house of 200 sqm (2,150 sq ft). Economically, such a residence only makes sense as a new build in a location that can be sold again if necessary—so in Hesse, realistically only in the Rhine-Main area. For example, Bad Homburg has many houses of this size and even larger, both near the Hardtwald forest and elsewhere, and these properties are being traded. On the Kassel slope, you will likely never get rid of a bunker without massive loss in value.
What I find quite charming is your enthusiasm for doing work yourself. We also plan to do a lot of interior finishing ourselves, but in the described representative environment, I wouldn’t trust myself, because the requirements are quite different from those of a standard single-family home. For example: tiling is no problem, but installing floor-to-ceiling marble slabs is something else. Assembling an IKEA kitchen is very relaxed, but a Siematic kitchen with a 10 cm (4 inch) stone countertop is never going to be easy, and this probably applies to the entire project.
I am trying to take this seriously, but there are several statements that make me doubt.
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