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.
H
HilfeHilfe22 Feb 2021 06:41Michele87 schrieb:
Thank you for your response! So with 300,000 euros it’s really tight but could work. Town & Country even has a bungalow in my desired size, great tip 🙂 The problem is if something goes wrong, you have no option for additional financing. That’s where the limit is reached.
I saw something like this last year in a new development. A really small house, probably even under 80 square meters (860 square feet). The garden was mostly used as a vegetable garden.
For myself, a ground-floor condominium with a garden plot would make more sense. I can't really imagine that a newly built house would be cheaper for you 🙂
For myself, a ground-floor condominium with a garden plot would make more sense. I can't really imagine that a newly built house would be cheaper for you 🙂
M
Michele8722 Feb 2021 08:05I want to thank you for your input; it helps me make a more realistic assessment.
- Reselling a very small house is difficult
- Fixed construction costs make building very small homes uneconomical
- In some areas, minimum plot sizes apply, leading to inefficient land use
- No house is truly move-in ready for 150,000€
- A budget of 300,000€ leaves too little margin for possible cost increases during construction; refinancing as a single person would then be difficult
- Possible low property valuation by the bank due to very small size, so the loan amount is questionable anyway
- The workload falls on one person; is this sustainable in the long term?
- Life circumstances could still change
In summary, there are more reasons against it than in favor.
It would probably only make sense if you find a really small infill plot in a rural area, costing well under 100,000€ and significantly less than 500 square meters (5,380 square feet). And then not 70 square meters (750 square feet) but rather over 90 square meters (970 square feet). And that is rather unlikely.
- Reselling a very small house is difficult
- Fixed construction costs make building very small homes uneconomical
- In some areas, minimum plot sizes apply, leading to inefficient land use
- No house is truly move-in ready for 150,000€
- A budget of 300,000€ leaves too little margin for possible cost increases during construction; refinancing as a single person would then be difficult
- Possible low property valuation by the bank due to very small size, so the loan amount is questionable anyway
- The workload falls on one person; is this sustainable in the long term?
- Life circumstances could still change
In summary, there are more reasons against it than in favor.
It would probably only make sense if you find a really small infill plot in a rural area, costing well under 100,000€ and significantly less than 500 square meters (5,380 square feet). And then not 70 square meters (750 square feet) but rather over 90 square meters (970 square feet). And that is rather unlikely.
H
hampshire22 Feb 2021 09:20With your budget, when dealing with traditional home builders, you will either barely manage to stay within budget while missing quality goals, or you will exceed the budget completely.
Therefore, I would suggest taking a more creative approach to achieving the goal of living in a detached dwelling on your own land. Take a look at what kinds of chalets are available in the Netherlands for some inspiration. For special solutions, you will also need a good connection with the local building authority (building permit / planning permission). I recommend establishing this contact early on and asking for creative support. With some luck, you’ll find someone who thinks along with you and backs your project.
Therefore, I would suggest taking a more creative approach to achieving the goal of living in a detached dwelling on your own land. Take a look at what kinds of chalets are available in the Netherlands for some inspiration. For special solutions, you will also need a good connection with the local building authority (building permit / planning permission). I recommend establishing this contact early on and asking for creative support. With some luck, you’ll find someone who thinks along with you and backs your project.
For example, there are older weekend houses with legal nonconforming use and permanent residential rights (including winter) available for rent or sale. Owners renovate them, so 50 sqm (540 sq ft) become 150 sqm (1,615 sq ft) legally.
Anyway...
Maybe you can find something like that for rent in your area?
Holiday parks also offer cabins for year-round rental.
What about leasing a plot of land?
Otherwise, keep checking regularly: perhaps subletting a room in a larger house could be an option for you at first, or someone might be starting a project and looking for people to join.
Anyway...
Maybe you can find something like that for rent in your area?
Holiday parks also offer cabins for year-round rental.
What about leasing a plot of land?
Otherwise, keep checking regularly: perhaps subletting a room in a larger house could be an option for you at first, or someone might be starting a project and looking for people to join.
Michele87 schrieb:
In summary, there are more arguments against than in favor. From your point of view, what are the reasons for building a very small single-person house in your mid-30s?
Is it already ruled out that you might build a larger house together with a partner later on?