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?
SumsumBiene1 Jan 2021 20:06So around 400 € monthly? Isn't that also dependent on the square meters? I have in mind about 4.50 € per square meter (sqm) including the maintenance reserve (for an existing property). I think, in fact, the actual amount is lower here (at least when I ask the few homeowners/residents we know). But it’s more interesting to calculate with the conservative estimate.
M
motorradsilke1 Jan 2021 20:09Nordlys schrieb:
It’s good that the tone has changed a bit. Now the topic interests me again. A house actually has ongoing costs.
Here, property tax is 400 plus x per year. Rainwater fee 60 per year. Insurance 220 per year. Gas, water, electricity around 1600 per year. Maintenance and repairs, chimney sweep 1000 per year. It’s also wise to save about 5% of the construction cost per year for larger expenses in the future. You also pay property tax, insurance, and chimney sweep fees as a tenant, just indirectly. Some repairs as well.
On the other hand, you can save quite a bit on additional costs in a homeowner situation, such as lower waste disposal fees, no garden maintenance, no stairwell cleaning, and so on.
Of course, it’s important to build reserves for the house, but in my experience, the additional running costs are lower.
Wolkensieben1 Jan 2021 20:15SumsumBiene schrieb:
Foster care or a socio-educational living community is the key difference here. In that case, you don’t necessarily have to be employed, since the allowance is correspondingly higher. Are you a childcare worker now or have you studied social pedagogy and obtained a relevant degree?
You know, I’m just referring to what you wrote. It’s really not meant in a negative way. The topic of horses is already an old issue, and I don’t want to reopen that. I wish you all the best in making your dream come true.
SumsumBiene1 Jan 2021 20:16Tassimat schrieb:
I feel exactly the same way.
Apparently, there is actually a certain selection of existing houses that can be renovated. So, I found those three houses (though we only know one of them from the outside) through my own initiative (bike tour through the village, flyer drops, E---Ka). I’m really happy that this worked out, because online it’s really just expensive, expensive, expensive or already ruled out due to the location. If we move further out, we’d have to run a family taxi and have two reliable cars as well (we have one reliable car for my commute, my husband makes do with a junker because he can still get there by bike if the car breaks down 😀). That also needs to be factored in.
N
nordanney1 Jan 2021 20:17motorradsilke schrieb:
Of course, you should build up reserves for the house, but in my experience, the additional costs are lower.I have to disagree with you this time. A house is usually larger and more valuable than an apartment. Therefore, property taxes and street cleaning fees are often higher. Stormwater charges tend to be more expensive as well. However, you do save on some smaller expenses like snow removal, building management, and garden maintenance. Still, the extra costs are generally manageable.By the way, you also have to cover minor repairs yourself when living in an apartment.
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