Hello building experts,
I want to build a KfW55EE bungalow with 100m2 (approximately 1,076 sq ft) turnkey with Heinz von Heiden in Saxony.
The plot is provided by my parents, 1800m2 (about 30x60m / 98x197 ft), relatively flat.
A sewage connection was laid and paid for years ago. A few small shrubs and trees need to be removed.
I am 52 and my wife is 47 years old, so we don’t have much time left to pay off a loan.
I currently earn €3000 and my wife €1500. We still live in Bavaria at the moment and will have to change jobs anyway because we need to move. We currently rent and pay €1250 including utilities for 115m2 (about 1,238 sq ft).
We have around €100,000 in savings, but we only want to use about €45,000 as equity in the financing to keep sufficient reserves for the upcoming move and any unforeseen expenses.
The turnkey bungalow, including groundwork and soil survey, should cost €178,000. We plan to do some work ourselves, such as painting walls and installing the flooring. We also plan to build a prefabricated garage, 6x4m (about 20x13 ft), for one car, bicycles, and garden furniture storage (around €10,000).
What additional building-related costs should we plan for, and which of these costs should be included in the financing?
We would be very grateful for any advice.
I want to build a KfW55EE bungalow with 100m2 (approximately 1,076 sq ft) turnkey with Heinz von Heiden in Saxony.
The plot is provided by my parents, 1800m2 (about 30x60m / 98x197 ft), relatively flat.
A sewage connection was laid and paid for years ago. A few small shrubs and trees need to be removed.
I am 52 and my wife is 47 years old, so we don’t have much time left to pay off a loan.
I currently earn €3000 and my wife €1500. We still live in Bavaria at the moment and will have to change jobs anyway because we need to move. We currently rent and pay €1250 including utilities for 115m2 (about 1,238 sq ft).
We have around €100,000 in savings, but we only want to use about €45,000 as equity in the financing to keep sufficient reserves for the upcoming move and any unforeseen expenses.
The turnkey bungalow, including groundwork and soil survey, should cost €178,000. We plan to do some work ourselves, such as painting walls and installing the flooring. We also plan to build a prefabricated garage, 6x4m (about 20x13 ft), for one car, bicycles, and garden furniture storage (around €10,000).
What additional building-related costs should we plan for, and which of these costs should be included in the financing?
We would be very grateful for any advice.
BertramK schrieb:
Ah, great. Finally some positive feedback for a change.
Hopefully, we will get the same. Are you otherwise satisfied with Heinz von Heiden?
Greetings to the future neighbors You can ask around. I get the feeling you haven’t thoroughly looked into this topic. There is a site manager from Heinz von Heiden who will probably tell you everything. After all, he is paid by Heinz von Heiden. And you should DEFINITELY hire an independent construction supervisor. Either through an association like the Homeowners’ Protection Association or Homeowners’ Assistance, or simply search on Google for external construction supervision in your area. This person is paid by you and ensures that no poor workmanship happens during the build.
Andre77 schrieb:
400€ per visit… divided into different construction phases, I believe normally there are 8 inspection phases (for building without a basement) plus a final acceptance where he is also present. So everything is quite manageable.
If you want, you can communicate with me at hausbau_2018@gmx.net.For owner support, 13 construction phases cost 1% of the house price.
HausiKlausi schrieb:
You didn’t address the question from @hampshire, which is important to be able to answer according to the thread title: What will the income be like after the move? Is there already a new job? Will the salaries remain similar? The bank won’t ask for the house number but for the hard facts. Conversely, this might also mean – contributing more equity! The income will logically be somewhat lower but similar. However, the expensive rent in Bavaria will decrease. If we don’t find a new job immediately, there is enough financial buffer available.
Acof1978 schrieb:
You can ask questions. I feel like you haven’t thoroughly looked into the topic. There is a site manager from Heinz von Heiden who might tell you everything. After all, he is paid by Heinz von Heiden. And you should DEFINITELY get an independent construction supervisor. Either through an association like the German Homeowners’ Protection Association or Homeowners’ Assistance, or simply by searching on Google for external construction supervision in your area. This person is paid by you and ensures that no poor workmanship is done on the construction site. You are right, but we have only recently started looking into this topic, which is why I am here in this forum and grateful for any advice that can help us move forward.
S
Sparfuchs7721 Jun 2021 11:07BertramK schrieb:
This reduces the expensive rent in Bavaria.If I were you, I would recalculate once more. Since you are no longer in your 30s, you will need to repay the loan faster to finish it on time. A house also has higher additional costs than an apartment. You have to consider reserves for repairs and so on, taxes, etc. I would be very surprised if the monthly expenses were noticeably lower than your current €1250.
Example: If you have a loan of €250,000 (200,000 for the house + outdoor facilities + garage | additional costs + moving and some furniture from your own funds) and want to be done after 15 years (at retirement age), you would have to repay around 6%. That means over €1600/month just for the installment.
For a net income of €3000 in Saxony, you really need to be very lucky. I don’t know anyone who earns that. This includes department heads, supervisors, etc., most with university degrees.
BertramK schrieb:
and also grateful for any tips that help us move forward.... but then those wouldn’t be just the "positive feedbacks." You really have to keep a close eye on some construction companies.https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/