Hello!
First of all: These are just my initial thoughts, not concrete building plans, and I don’t have a plot of land yet.
I like the idea of a small house for a single person and a minimalist lifestyle. I’m thinking of around 70sqm (750 sq ft), a simple rectangular layout, solid but basic (let’s say manual light switches, standard windows, small bathroom, small kitchen, etc.).
Land prices here range from 100 to 250€/sqm (I’m estimating around 120,000€).
I already have a financing commitment of 300,000€, my net income is 3,300€, my equity is quite low at 30,000€, my home savings contract currently has only 8,000€, and I’m 34 years old.
Is it realistic to achieve the dream of owning a house with a budget of 300,000€? Realistically, only about 150,000€ would be left for the house itself. Is it possible to build something simple with that? And how do you get started? Should I look for a plot first and then go to an architect?
So far, I’ve only found price information for houses over 120sqm (1300 sq ft), but that’s not an option for me alone.
First of all: These are just my initial thoughts, not concrete building plans, and I don’t have a plot of land yet.
I like the idea of a small house for a single person and a minimalist lifestyle. I’m thinking of around 70sqm (750 sq ft), a simple rectangular layout, solid but basic (let’s say manual light switches, standard windows, small bathroom, small kitchen, etc.).
Land prices here range from 100 to 250€/sqm (I’m estimating around 120,000€).
I already have a financing commitment of 300,000€, my net income is 3,300€, my equity is quite low at 30,000€, my home savings contract currently has only 8,000€, and I’m 34 years old.
Is it realistic to achieve the dream of owning a house with a budget of 300,000€? Realistically, only about 150,000€ would be left for the house itself. Is it possible to build something simple with that? And how do you get started? Should I look for a plot first and then go to an architect?
So far, I’ve only found price information for houses over 120sqm (1300 sq ft), but that’s not an option for me alone.
SumsumBiene21 Feb 2021 21:14Maybe a semi-detached house? Or a terraced house (row house)?
So, I mentioned that it was in 2017 because, of course, prices have increased since then. Today, we definitely couldn’t manage with 285 anymore and would probably have to budget around 350.
The idea that smaller still means barely cheaper is unfortunately true. However, the bigger the house, the more land is needed—bungalows require space. For example, if you have a floor area ratio (FAR) of 0.3, then for a bungalow with 110 sqm (1,184 sq ft), you would probably need around 550 sqm (5,920 sq ft) of land. That also adds to the cost.
The idea that smaller still means barely cheaper is unfortunately true. However, the bigger the house, the more land is needed—bungalows require space. For example, if you have a floor area ratio (FAR) of 0.3, then for a bungalow with 110 sqm (1,184 sq ft), you would probably need around 550 sqm (5,920 sq ft) of land. That also adds to the cost.
ypg schrieb:
You can sell properties, but a small 70sqm (750 sq ft) house has a limited target audience. Just a note.This might also complicate the financing if the bank applies a significant discount to the value in the case of a forced sale, since it is quite unusual.One should also not forget that a lot of work is involved with the house and land, all of which has to be done by a single person. For me, it wouldn’t work—not because of the amount of work, but because you have to do everything and can’t just swap, for example, mowing the lawn for washing dishes.
Best regards
R
rennschnecke21 Feb 2021 22:01I have a quick question: Is Town & Country one of the more affordable providers among solid house builders, since it is recommended here so often? Does that also come with lower or average quality?