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.
A
Alessandro9 Nov 2020 10:11If I were part of your family and invited to family gatherings at your 800sqm (8,600 sq ft) residence, staying American-style for at least five days over Christmas, I would be disappointed to find out that people in the neighborhood still think of their Dacia Logans in terms of Deutsche Marks.
With what an 800sqm (8,600 sq ft) villa costs nowadays, you could invite your family to beautiful resorts or chalets for many years or even decades for family celebrations (including flights).
And if you two don’t want to play World of Tanks in real life inside the house, a 300sqm (3,200 sq ft) villa is enough when you get older.
With what an 800sqm (8,600 sq ft) villa costs nowadays, you could invite your family to beautiful resorts or chalets for many years or even decades for family celebrations (including flights).
And if you two don’t want to play World of Tanks in real life inside the house, a 300sqm (3,200 sq ft) villa is enough when you get older.
borxx schrieb:
What I find really charming is your enthusiasm for doing the work yourselves. We are also planning to do a lot of the interior finishing ourselves, but in the kind of upscale environment you describe, I wouldn’t feel confident because the conditions are quite different from a standard single-family home. For example: laying tiles is no problem, but floor-to-ceiling marble slabs are a whole different matter; assembling an Ikea kitchen is very relaxed, but a Siematic kitchen with a 10cm (4 inch) stone countertop—never—and this probably applies to the entire construction. Nicely and accurately put: installing 800 sqm (8,600 sq ft) of tiles yourself just doesn’t work.
nordanney schrieb:
1. Find top real estate agents for land
2. Increase the starting land price including additional costs to at least €1 million (approx. $1.1 million)
3. Find top architects
4. Raise the budget to €3 million (approx. $3.3 million) for the house plus landscaping and related work
5. Find a bank—which should not be a problem in the right location with the additional security of a fully paid-off houseIt couldn’t be better summarized than in these five points.But seriously, with such a dream income and all the social contacts through the current lifestyle and working in your own law firm, it shouldn’t be that difficult to find top real estate agents and architects, schedule appointments with them, and discuss a plan of action, right?
M
Matthew039 Nov 2020 11:23ypg schrieb:
I probably overlooked it at first ypg schrieb:
I also overlooked the underground garage When you overlooked, you also missed that this:
ypg schrieb:
there is now €150,000 (about $160,000) equity shown here has already been corrected multiple times (!) by the original poster. The €150,000 equity is just a placeholder.
I am also a bit confused that someone with that background, financial and social standing, and expectations comes in with such naive ideas. Setting aside the fact that 800 m² (8,610 sq ft) of living space for probably only two people as a weekend house is another point where I have doubts about the realism.
Anyway, I will wait and see, and I am curious to find out if a project will really develop that I would then gladly and attentively follow here.
Anyway, I will wait and see, and I am curious to find out if a project will really develop that I would then gladly and attentively follow here.
S
Sparfuchs779 Nov 2020 12:38What puzzles me most is the discrepancy between the expectations for the house and the budget—especially considering that there is already a house on the site, so the costs are known.
I expect the budget to be spent entirely on the land alone. Then, 4 million for the house (800 m² (8600 sq ft) of living space * 4000 € (this will almost certainly not stay at 2000 €, more likely double) + 300 m² (3200 sq ft) of utility space * 2000 €). Landscaping with a pool will easily add another half a million, if built to representational standards. Instead of 1.5 million, I see such a project easily exceeding 5 million, with plenty of room for even more.
I wholeheartedly agree with that.
I expect the budget to be spent entirely on the land alone. Then, 4 million for the house (800 m² (8600 sq ft) of living space * 4000 € (this will almost certainly not stay at 2000 €, more likely double) + 300 m² (3200 sq ft) of utility space * 2000 €). Landscaping with a pool will easily add another half a million, if built to representational standards. Instead of 1.5 million, I see such a project easily exceeding 5 million, with plenty of room for even more.
Climbee schrieb:
Anyway, I’m waiting to see what develops. I’m very interested and look forward to following the project closely here.
I wholeheartedly agree with that.
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