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?
SumsumBiene8 Apr 2021 21:03Hausbautraum20 schrieb:
I think they meant flooring and painting, which are often not included in turnkey contracts.
I just can’t imagine how it’s possible to build for 250k. I’ve come to understand that prices in the Munich suburbs are a whole different level, but even so, we’re paying twice that. And many materials we order online, so not in Munich, and install ourselves, but still, these things cost money.
Before buying a plot, I would get a quote first to see if it’s even roughly within the possible budget.That would be the next step. I already have a few catalogs here, one recommended to me. It includes a fairly detailed scope of work (I think). That should definitely help with considering cost increases.
I’ve contacted the land seller. As expected, there is high demand. The plot is not yet serviced, but it is located directly on the main road in the village. He doesn’t know of any zoning or development plan.
Well, the catalogue prices from construction companies are somewhat binding. You can build it that way. At least with our developer. The additional costs that come on top are, broadly speaking, lifestyle choices. I recently wrote a blog post about all the expenses you need or could include. Looking back, most of these are really optional items. A catalog home cost 228,000 at 2019 prices (NDS, 150m² (1,615 sq ft) with Frisian gable – it can be cheaper with a pitched roof).
What we couldn’t skip was the multi-utility service entry (which is now mandatory in NDS).
Most other things can be left out. A walk-in shower with a shampoo niche? You can also use a shower tray.
A nicer toilet? Concealed fittings? You can do without those as well. Double doors with glass panes, country-style stairs made of limed oak, segmental arches above windows, sash windows – these are all nice to have, but if you just want to own a home, they are not critical.
You can also live with the standard number of power outlets.
We treated ourselves to some of these extras simply because we could, to be honest.
But if I were faced with the choice: build modestly or continue renting, I know what I would choose.
Even with tiles from the standard range and without a second door to the utility room, you still have an energy-efficient new build.
What we couldn’t skip was the multi-utility service entry (which is now mandatory in NDS).
Most other things can be left out. A walk-in shower with a shampoo niche? You can also use a shower tray.
A nicer toilet? Concealed fittings? You can do without those as well. Double doors with glass panes, country-style stairs made of limed oak, segmental arches above windows, sash windows – these are all nice to have, but if you just want to own a home, they are not critical.
You can also live with the standard number of power outlets.
We treated ourselves to some of these extras simply because we could, to be honest.
But if I were faced with the choice: build modestly or continue renting, I know what I would choose.
Even with tiles from the standard range and without a second door to the utility room, you still have an energy-efficient new build.
W
Worrier848 Apr 2021 22:39If I’m going to spend my money on a house as a lifestyle choice, then I want to live as nicely as I imagine. Otherwise, I’ll stay renting with compromises and invest my money instead of sinking it into a compromised, concentrated risk house on a now shoebox-sized plot of land. I don’t gain anything from that.
No. Owning property also means a degree of freedom. I decide when and how to renovate, whether to plant strawberries or flowers in the garden, whether to have a dog or a cat or neither... even a simple house can be upgraded over the years when the budget allows it. With lighting, flooring, and furniture, you can do a lot, and in the end, some flashy additions may turn out to be completely unnecessary.
M
Myrna_Loy8 Apr 2021 22:49Nordlys schrieb:
No. Owning property also means a piece of freedom. I decide when and how to renovate, whether to plant strawberries or flowers in the garden, whether to have a dog or a cat or no pet at all... even a simple house can be upgraded over the years when there is more money available. With lighting, flooring, furniture, a lot can be done, and some of the flashy stuff might turn out to be completely unnecessary in the end. A similarly budget-busting experience like building a house, I only know from having a first child and from weddings.
Worrier84 schrieb:
Otherwise, I’ll stay renting with compromises.No. A house with a small garden still offers a lot more than an apartment. Worrier84 schrieb:
and invest,For your descendants or whom? I’d rather live with optimized compromises – happiness isn’t tied to cleaning yourself in a ridiculously expensive walk-in shower, but to enjoying your quality of life afterwards, like having a coffee on your own terrace, which in this case is linked to a small, affordable home of your own.Similar topics