Hello everyone, sorry for my poor German. My wife and I have just purchased a plot of land and plan to start building in early 2022. The problem is that the property cost more than we expected and has used up part of our budget for the house. My question is, is it possible to build a 160 m2 (1,722 sq ft) house with a budget of 350,000, including construction costs and everything that comes with it? Thanks in advance.
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Bigmack15514 Mar 2021 13:10We currently have 2 children, but we want 4, with guest rooms, since it is a 30-minute drive to the nearest family member.
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Bigmack15514 Mar 2021 14:08I wonder if prices will drop in the next 2 years. We don’t want to stay in the rental apartment any longer, but given the current circumstances, we need to consider every possible alternative to reduce costs.
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WilderSueden14 Mar 2021 14:27A drop in prices seems unlikely. Construction companies have fully booked schedules for at least a year, so none of them are likely to offer significant discounts to attract customers. Many people probably also own plots of land without a building contract yet, so demand is expected to remain steady for the foreseeable future—especially as long as interest rates stay relatively low.
Another factor is the regulations, which are regularly becoming stricter. Over the next two years, this is still fairly manageable, but in the medium term, today’s KfW55 standard will become mandatory, driving up prices at the lower end of the market. Requirements like mandatory photovoltaic systems will also almost certainly be introduced in the medium term.
Waiting to reduce costs is a gamble with rather poor odds. You should also remember that building a house takes time. The construction phase lasts about one year after obtaining the building permit / planning permission (much longer with some companies), and preparation takes a considerable amount of time as well. Realistically, it takes two years or more from the decision to build until moving in.
Another factor is the regulations, which are regularly becoming stricter. Over the next two years, this is still fairly manageable, but in the medium term, today’s KfW55 standard will become mandatory, driving up prices at the lower end of the market. Requirements like mandatory photovoltaic systems will also almost certainly be introduced in the medium term.
Waiting to reduce costs is a gamble with rather poor odds. You should also remember that building a house takes time. The construction phase lasts about one year after obtaining the building permit / planning permission (much longer with some companies), and preparation takes a considerable amount of time as well. Realistically, it takes two years or more from the decision to build until moving in.