Hello,
Actually, we have been looking for an existing property since last summer. According to our mortgage broker, we have a budget of around 300,000 (all-in), which a bank is likely to approve.
The market here in Schleswig-Holstein has also become very tight, and the houses on offer are often in need of renovation, so you easily exceed the budget (especially since many city dwellers laugh at our house prices and like to secure a holiday home here).
Now the question is whether it would be possible to build a house within our budget (assuming we can get a building plot). Our requirements are not very high; it doesn’t need to be a huge house. 120 square meters (1300 square feet) would be completely sufficient.
In a neighboring village, plots are currently being developed. The price isn’t fixed yet but is expected to be below 100 euros per square meter. The plots are about 700 square meters (7500 square feet) in size. Unfortunately, we have no experience with this topic at all, and I definitely don’t want to miscalculate.
We can only contribute limited personal labor. We are not unskilled, but both fully employed with a child, dog, and horse. What are your thoughts?
Actually, we have been looking for an existing property since last summer. According to our mortgage broker, we have a budget of around 300,000 (all-in), which a bank is likely to approve.
The market here in Schleswig-Holstein has also become very tight, and the houses on offer are often in need of renovation, so you easily exceed the budget (especially since many city dwellers laugh at our house prices and like to secure a holiday home here).
Now the question is whether it would be possible to build a house within our budget (assuming we can get a building plot). Our requirements are not very high; it doesn’t need to be a huge house. 120 square meters (1300 square feet) would be completely sufficient.
In a neighboring village, plots are currently being developed. The price isn’t fixed yet but is expected to be below 100 euros per square meter. The plots are about 700 square meters (7500 square feet) in size. Unfortunately, we have no experience with this topic at all, and I definitely don’t want to miscalculate.
We can only contribute limited personal labor. We are not unskilled, but both fully employed with a child, dog, and horse. What are your thoughts?
SumsumBiene30 Dec 2020 18:01The price increase is really remarkable. Ten years ago, there were houses in the new development area for 100,000. Some people I know have monthly payments under €500 for 150 sqm (1,615 sqft)... Well... somehow we are 10 years too late with everything 😕
H
hampshire30 Dec 2020 18:08SumsumBiene schrieb:
Well... somehow we are 10 years behind everything 😕Will those who think about it in 10 years possibly also think...H
HilfeHilfe30 Dec 2020 18:13SumsumBiene schrieb:
The price increase is really remarkable. Ten years ago, there were houses in the new development area for 100,000. Some people I know have monthly payments under 500 € for 150 m² (1,615 sq ft)... Well... somehow we are 10 years too late 😕 Back then, interest rates were also much higher. Anyone refinancing now is the winner.
H
Hausbautraum2030 Dec 2020 20:02To be honest, I don’t understand why everyone agreed that it’s not possible for Jana, who has a better income (and is younger), but it should work here???
100 sqm (1,076 sq ft) at €2,000 per sqm (€185 per sq ft) equals €200,000.
Additional construction costs €40,000.
Kitchen €10,000.
That leaves €50,000 for the plot plus outdoor areas.
How is that supposed to work?
Also, you have to consider that they probably wouldn’t build until 2022, when €2,000 per sqm (€185 per sq ft) will likely still be a challenge in Schleswig-Holstein (SH), right?
But coming from the south, it’s hard to imagine some of the prices that apparently exist elsewhere. For us, just the development costs in the building area were €70 per sqm (€6.50 per sq ft), so land prices under €100 per sqm (€9.30 per sq ft) seem unrealistic somehow. Maybe that’s why I just don’t get it ;-)
100 sqm (1,076 sq ft) at €2,000 per sqm (€185 per sq ft) equals €200,000.
Additional construction costs €40,000.
Kitchen €10,000.
That leaves €50,000 for the plot plus outdoor areas.
How is that supposed to work?
Also, you have to consider that they probably wouldn’t build until 2022, when €2,000 per sqm (€185 per sq ft) will likely still be a challenge in Schleswig-Holstein (SH), right?
But coming from the south, it’s hard to imagine some of the prices that apparently exist elsewhere. For us, just the development costs in the building area were €70 per sqm (€6.50 per sq ft), so land prices under €100 per sqm (€9.30 per sq ft) seem unrealistic somehow. Maybe that’s why I just don’t get it ;-)
SumsumBiene schrieb:
+ 1x child benefit.SumsumBiene schrieb:
which is affordable with a childInteresting that a horse and a dog are mentioned when talking about the idea, but not a child. :p I take it all back! 😕
What is possible? Land under 100 per square meter. House from Team Massiv and then stick to the standard, as tough as that may be. Garden, driveway, etc. as DIY work.
We managed with land at 115 per square meter for 590 square meters (yard) in 2017 with 300 (thousand), but that was in 2017 and the house is under 120 square meters (1292 square feet).
We managed with land at 115 per square meter for 590 square meters (yard) in 2017 with 300 (thousand), but that was in 2017 and the house is under 120 square meters (1292 square feet).