ᐅ Planning a new build in the Marburg area: Best approach and steps to take
Created on: 30 Dec 2020 08:52
R
rulor1992
Good morning everyone,
I could use some ideas from you.
I would like to build a house. Preferably in Marburg (although that might not be realistic). At least somewhere relatively close, like the surrounding area of Ebsdorfergrund, for example.
My girlfriend is a bit hesitant and doesn't want to think about it right now. However, we currently still live in my parents' house (400€ including utilities), so very affordable.
But that situation is not meant to last. We both work in Marburg, and personally, renting is not really an option for me since we are planning to start a family.
Regarding our financial situation... My girlfriend earns 2,000€ net per month working 80% plus a 2,000€ bonus.
For me, the financial situation is a bit more complicated because I have difficulty planning. I earn 2,500€ net per month plus a 3,000€ bonus.
Additionally, I have a secondary income that this year exceeds my main job’s income. However, that may not necessarily be the case in the future.
So, our stable income is 4,500€ net plus 5,000€ bonus. On top of that, there is 20,000€ to 50,000€ net from secondary income.
We have 100,000€ in equity, but that is more important as cash flow for the side business.
I have not been to the bank yet; I first wanted to gather some input so I could approach this more concretely.
What I have in mind: A house suitable for a family of four. It will also need some space for the business. Some costs might be deductible there. Exactly what is possible, I need to discuss with my tax advisor.
This means planning for a basement with 30-40sqm (approximately 320-430 sq ft) as storage space.
Additionally, everything should be equipped with KNX automation: lighting, blinds, heating, (possibly ventilation), and so on.
Based on the financial situation, what could be realistically feasible? How much living space does a family of four typically need? It should not be bigger than necessary.
Ultimately, my girlfriend has the final say. She wants to move sooner than I do but is not ready to deal with the topic at the moment. That will come sooner or later.
What costs should I expect if I want to build not as cheaply as possible but with good quality? What would be a suitable plot size?
Thanks a lot for your input.
I could use some ideas from you.
I would like to build a house. Preferably in Marburg (although that might not be realistic). At least somewhere relatively close, like the surrounding area of Ebsdorfergrund, for example.
My girlfriend is a bit hesitant and doesn't want to think about it right now. However, we currently still live in my parents' house (400€ including utilities), so very affordable.
But that situation is not meant to last. We both work in Marburg, and personally, renting is not really an option for me since we are planning to start a family.
Regarding our financial situation... My girlfriend earns 2,000€ net per month working 80% plus a 2,000€ bonus.
For me, the financial situation is a bit more complicated because I have difficulty planning. I earn 2,500€ net per month plus a 3,000€ bonus.
Additionally, I have a secondary income that this year exceeds my main job’s income. However, that may not necessarily be the case in the future.
So, our stable income is 4,500€ net plus 5,000€ bonus. On top of that, there is 20,000€ to 50,000€ net from secondary income.
We have 100,000€ in equity, but that is more important as cash flow for the side business.
I have not been to the bank yet; I first wanted to gather some input so I could approach this more concretely.
What I have in mind: A house suitable for a family of four. It will also need some space for the business. Some costs might be deductible there. Exactly what is possible, I need to discuss with my tax advisor.
This means planning for a basement with 30-40sqm (approximately 320-430 sq ft) as storage space.
Additionally, everything should be equipped with KNX automation: lighting, blinds, heating, (possibly ventilation), and so on.
Based on the financial situation, what could be realistically feasible? How much living space does a family of four typically need? It should not be bigger than necessary.
Ultimately, my girlfriend has the final say. She wants to move sooner than I do but is not ready to deal with the topic at the moment. That will come sooner or later.
What costs should I expect if I want to build not as cheaply as possible but with good quality? What would be a suitable plot size?
Thanks a lot for your input.
K
knalltüte30 Dec 2020 13:18rulor1992 schrieb:
It might also be possible that with 20% commercial use, 20% of the construction costs can be allocated to the business, which would be quite beneficial.Or build privately and rent to a company. The "profit" then comes through the special depreciation (Sonder AFA) over the next 4 years (I believe this only applies if completed by the end of 2021).N
nordanney30 Dec 2020 13:31rulor1992 schrieb:
I can’t imagine that half a million is enough to build a house today. It depends on the plot of land and your housing requirements. For the land alone, that amount is usually sufficient.
Land: €150,000 (about $150,000)
120m² (1,292 sq ft) house at €2,300 ($2,300) per m² = €276,000 ($276,000) (decent quality!)
Additional construction costs: €50,000 ($50,000)
Total: €476,000 ($476,000) – leaving some budget for a carport and landscaping.
If the land only costs about €100,000 ($100,000), you might be able to include a basement, a larger house, or other features. Without luxury wishes, you could also build a decent house at around €2,100 ($2,100) per m².
€500,000 ($500,000) is probably a reasonable average budget.
However, your budget will largely depend on your income. Side income might not be considered—how sustainable is that income?
In the worst case, if you prefer to go big rather than economize, there might be no house for you.
R
rulor199230 Dec 2020 13:31superzapp schrieb:
Or build privately and rent to a company. The "profit" then comes through the special depreciation allowance over the next 4 years (I believe this only applies if completed by the end of 2021)Completion by 2021 is impossible.
There will probably be more in-depth discussions on the topic next year.
R
rulor199230 Dec 2020 13:32nordanney schrieb:
However, your budget is largely influenced by your income. Side income may not always be taken into account – how sustainable are those earnings? In the worst case, you might not be able to afford a house if you prefer to go big rather than modest.I am estimating at least €20,000 (about $22,000) profit.
But it could also be as much as €80,000 (about $88,000), like this year.
This year, due to COVID-19 and other factors, higher earnings were possible.
I just want to assume the worst case and factor that into the planning.
rulor1992 schrieb:
This topic will come up in the next few years. I’m not forcing anything, but I know that for her the issue of renting is more prominent because she thinks she would be dependent on me and couldn’t afford a house anyway.
However, I believe it can be arranged so that, in the event of a separation, she would benefit more than if we had continued renting. I completely understand you because I had exactly the same long discussions. My girlfriend (now wife) was also scared for a long time by the high numbers. It was only when her best friend moved from an apartment into a nice newly built house and calmly explained to her over a cup of tea that over a lifetime you either pay off the landlord’s property or your own, that the turning point happened and she started doing her own research. If someone isn’t mentally ready yet, you can talk yourself hoarse as the braver partner. And even if one side eventually agrees out of love (or frustration), the first major disagreement during the build will turn into the “You wanted the house, I didn’t” argument. In the end, it often goes like this: house finished, relationship finished. This happens more often than people realize.
It’s good that you’re not forcing or hopefully not pressuring her, because that doesn’t help at all. Give her the time, even if from a financial standpoint waiting absolutely doesn’t make sense. Only then will advice for you or for both of you make sense.
R
rulor199230 Dec 2020 13:48Jean-Marc schrieb:
And even if one side agrees out of love (or frustration), at the first major disagreement during the build, you get the "You wanted the house, not me" argument. In the end, it’s usually: house finished, relationship finished. It happens more often than you’d think.That’s exactly the problem I’m facing right now... I convinced her three years ago to move to the countryside because my parents had an available apartment and we were living very cheaply here at the time.
I thought it would be the perfect way to see if we could make it work.
Looking back, it already annoys me because I constantly have to listen to complaints about how life in the countryside isn’t flexible enough.
And that’s what I want to avoid with the house build. Only if she fully supports it will we build together. Renting isn’t an option for me because there are just too many reasons against it.
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