ᐅ $250,000 – Implementation of the building plan including all additional costs?
Created on: 15 Sep 2013 00:29
C
CampinoHello Housebuilding Forum,
I hope I’m not starting this thread too early and that I’ll be taken somewhat seriously, even though I don’t have much experience with housebuilding yet.
My partner and I are planning to move out of a rental soon and get our own home. Until now, the plan was mainly to buy a relatively new house. However, I didn’t want to completely rule out the possibility of building a new one and wanted to at least get some information.
So today we visited a show home and had a very pleasant conversation with an employee of a fairly well-known prefab house manufacturer (I’m not sure if I’m allowed or should post the name here).
We shared what we were looking for in an existing house, which also reflected our basic requirements for a prefab home. I also mentioned to the employee that on property websites like immowelt or my-next-home, new construction projects with land are often offered, since we don’t have a plot ourselves.
The employee took notes on our wishes.
Between 130 and 150 sqm (1,400 and 1,615 sq ft)
Plot between 400 and 600 sqm (4,300 and 6,450 sq ft)
Basement
Underfloor heating
Painter/turnkey delivery
We didn’t express any specific wishes regarding balconies, bay windows, or similar features; it was mainly an initial conversation for information. We don’t want a townhouse but rather a fairly “normal” one-and-a-half-story house with a pitched roof.
Our total budget was stated as 250,000 euros (about $270,000). The employee said that “you can do something with that” regarding what we imagined and that he could provide a non-binding offer.
After reading around a bit here, though: is this even realistic? Can we seriously plan to get a house with a plot in this size range within that budget?
According to the employee, all costs would be covered in this offer, including property taxes, additional construction costs, and site costs.
I would really appreciate your opinions...
Best regards
I hope I’m not starting this thread too early and that I’ll be taken somewhat seriously, even though I don’t have much experience with housebuilding yet.
My partner and I are planning to move out of a rental soon and get our own home. Until now, the plan was mainly to buy a relatively new house. However, I didn’t want to completely rule out the possibility of building a new one and wanted to at least get some information.
So today we visited a show home and had a very pleasant conversation with an employee of a fairly well-known prefab house manufacturer (I’m not sure if I’m allowed or should post the name here).
We shared what we were looking for in an existing house, which also reflected our basic requirements for a prefab home. I also mentioned to the employee that on property websites like immowelt or my-next-home, new construction projects with land are often offered, since we don’t have a plot ourselves.
The employee took notes on our wishes.
Between 130 and 150 sqm (1,400 and 1,615 sq ft)
Plot between 400 and 600 sqm (4,300 and 6,450 sq ft)
Basement
Underfloor heating
Painter/turnkey delivery
We didn’t express any specific wishes regarding balconies, bay windows, or similar features; it was mainly an initial conversation for information. We don’t want a townhouse but rather a fairly “normal” one-and-a-half-story house with a pitched roof.
Our total budget was stated as 250,000 euros (about $270,000). The employee said that “you can do something with that” regarding what we imagined and that he could provide a non-binding offer.
After reading around a bit here, though: is this even realistic? Can we seriously plan to get a house with a plot in this size range within that budget?
According to the employee, all costs would be covered in this offer, including property taxes, additional construction costs, and site costs.
I would really appreciate your opinions...
Best regards
I
Irgendwoabaier15 Sep 2013 06:41Hello,
This might be enough for a small house with a slab foundation in the Bavarian Forest. With a lot of personal work, even close to civilization... In the greater Frankfurt area, however, the situation is completely different. Looking at the current land prices here in the Bavarian-Hessian border area, after deducting the cost of the plot, even in less desirable locations (sloped sites, very shaded, or directly between A3 / A45 / high-speed train route Aschaffenburg-Frankfurt), for 400-500m² (4300-5400 ft²) you are left with only about €100,000. In good locations, you need luck since almost nothing is on the market anyway.
It strongly depends on the area where you are searching whether anything is possible at all. In this area, it would not be feasible.
Regards,
I.
This might be enough for a small house with a slab foundation in the Bavarian Forest. With a lot of personal work, even close to civilization... In the greater Frankfurt area, however, the situation is completely different. Looking at the current land prices here in the Bavarian-Hessian border area, after deducting the cost of the plot, even in less desirable locations (sloped sites, very shaded, or directly between A3 / A45 / high-speed train route Aschaffenburg-Frankfurt), for 400-500m² (4300-5400 ft²) you are left with only about €100,000. In good locations, you need luck since almost nothing is on the market anyway.
It strongly depends on the area where you are searching whether anything is possible at all. In this area, it would not be feasible.
Regards,
I.
Hello, I’m not sure where you would be building. In our example, a 281m² (3,026 sq ft) plot with a house of 116m² (1,248 sq ft) living space, without a basement, just a normal one-and-a-half-story house with a dormer, and the attic prepared for finishing (including wiring, heating, and a larger window). This includes paving for the terrace, driveway, and parking area for a car, as well as a new kitchen. All additional costs such as notary fees, property taxes, and utility connections are included. There is also a small shed. The total cost for us was around 250,000. I have to say we didn’t include many extras. Regards, Chelria
Hello,
I think you can use these values as a VERY ROUGH guideline. However, some important information is still missing, such as the desired energy standard... The house design can also significantly affect the price. Here is an example with approximate figures:
1. KfW55 house, turnkey: 1,800 euros per square meter. For your case, that would be 252,000 euros.
That’s probably what the seller meant by “You can definitely make something out of that.” With corresponding owner-provided work, you can of course reduce the cost. But honestly: for 50,000 euros of your own work, you need to work long, hard, and intensively! There is a high risk of it becoming an ongoing construction project. We saved around 20,000 euros through a few painting jobs and parts of the interior finishing (internal insulation, Fermacell boards), but required about 1,000 working hours.
2. Land: 500 sqm (5,382 sq ft) x 60-500 euros? That really depends.
3. Additional costs for the land: Notary fees, property transfer tax, possibly development costs... These can quickly add up to 10,000 euros or more.
4. Earthworks: I assume these are not included in the company’s “offer.” For a house of this size, you can easily budget 20,000 euros for earthworks (excavation, storage, disposal, gravel, inspection shaft, sewage, water connection, drainage...).
5. Exterior work: You’ll probably want a driveway and a path to the house. With 100 euros for materials and labor per square meter, you’ll be spending quickly. Exterior work can easily reach 10,000 euros, and this does not yet include planting, terraces, retaining walls...
6. Other: Temporary power on site, construction water, notary, structural engineer, surveyor, architectural services... What does the company include? What will you have to pay yourselves?
7. Special requests: The initial offer usually includes a standard specification. For example: floor tiles up to 20 euros per sqm (about 2 sq ft). That is often at the low end! Also, the number of power outlets, window frame colors, door heights, etc. If you want something different or more, you pay extra. We quickly ended up spending an additional 5,000 euros here and there… Well, you can control that, but make sure you get a clear breakdown beforehand showing what is included and what every extra socket will cost...!!!
8. Furniture: Maybe you already have some. But honestly? In a new house, you often want some new furniture! Much may no longer fit. A fitted kitchen...? That will quickly cost several thousand euros!
9. Contingency: I would add at least 5% of the total amount as a buffer!
Conclusion: For a house of this size, with a good energy standard, including all earthworks, exterior work, land, many additional costs, some special requests, and a buffer, 250,000 euros will not be enough. Depending on the land price, I would consider 350,000 to 400,000 euros more realistic.
Don’t forget: Almost all construction companies and tradespeople are currently fully booked and even overloaded! Prices are correspondingly high, and there is little room for negotiation...
I think you can use these values as a VERY ROUGH guideline. However, some important information is still missing, such as the desired energy standard... The house design can also significantly affect the price. Here is an example with approximate figures:
1. KfW55 house, turnkey: 1,800 euros per square meter. For your case, that would be 252,000 euros.
That’s probably what the seller meant by “You can definitely make something out of that.” With corresponding owner-provided work, you can of course reduce the cost. But honestly: for 50,000 euros of your own work, you need to work long, hard, and intensively! There is a high risk of it becoming an ongoing construction project. We saved around 20,000 euros through a few painting jobs and parts of the interior finishing (internal insulation, Fermacell boards), but required about 1,000 working hours.
2. Land: 500 sqm (5,382 sq ft) x 60-500 euros? That really depends.
3. Additional costs for the land: Notary fees, property transfer tax, possibly development costs... These can quickly add up to 10,000 euros or more.
4. Earthworks: I assume these are not included in the company’s “offer.” For a house of this size, you can easily budget 20,000 euros for earthworks (excavation, storage, disposal, gravel, inspection shaft, sewage, water connection, drainage...).
5. Exterior work: You’ll probably want a driveway and a path to the house. With 100 euros for materials and labor per square meter, you’ll be spending quickly. Exterior work can easily reach 10,000 euros, and this does not yet include planting, terraces, retaining walls...
6. Other: Temporary power on site, construction water, notary, structural engineer, surveyor, architectural services... What does the company include? What will you have to pay yourselves?
7. Special requests: The initial offer usually includes a standard specification. For example: floor tiles up to 20 euros per sqm (about 2 sq ft). That is often at the low end! Also, the number of power outlets, window frame colors, door heights, etc. If you want something different or more, you pay extra. We quickly ended up spending an additional 5,000 euros here and there… Well, you can control that, but make sure you get a clear breakdown beforehand showing what is included and what every extra socket will cost...!!!
8. Furniture: Maybe you already have some. But honestly? In a new house, you often want some new furniture! Much may no longer fit. A fitted kitchen...? That will quickly cost several thousand euros!
9. Contingency: I would add at least 5% of the total amount as a buffer!
Conclusion: For a house of this size, with a good energy standard, including all earthworks, exterior work, land, many additional costs, some special requests, and a buffer, 250,000 euros will not be enough. Depending on the land price, I would consider 350,000 to 400,000 euros more realistic.
Don’t forget: Almost all construction companies and tradespeople are currently fully booked and even overloaded! Prices are correspondingly high, and there is little room for negotiation...
B
backbone2315 Sep 2013 11:27130 square meters (1,400 square feet) of living space result in a cost of €195,000 based on the assumed €1,500 per square meter (€140 per square foot) for a standard KfW70 house. Adding additional construction-related costs of €35,000 brings the total to €230,000. That leaves only €20,000 for a basement, the plot including acquisition costs, landscaping, carport/garage, floor and wall coverings...
... no, that is not realistic. The user "Bauexperte" might be able to give you a more precise estimate of the effort required. For that, the land prices would also need to be known.
... no, that is not realistic. The user "Bauexperte" might be able to give you a more precise estimate of the effort required. For that, the land prices would also need to be known.
Campino schrieb:
...
Between 130 and 150 sqm (1,400 to 1,615 sq ft)
Plot between 400 and 600 sqm (4,300 to 6,460 sq ft)
Basement
Underfloor heating
Painter / turnkey completion
We hadn’t expressed any particular wishes regarding balconies, bay windows, or anything else; it was more of an initial consultation for information. It is also not supposed to be an urban villa, but rather a relatively “normal” one-and-a-half-story house with a pitched roof.
Our total budget was stated as 250,000 euros. The staff member said that “you can do something with that,” according to our ideas, and that he would provide a non-binding offer.
After reading through some of the discussions here: is this even realistic? Can we seriously plan to get a house with land in this size range for this budget?
According to the staff member, this offer would cover all costs, including property taxes, additional building costs, or site costs.
Would appreciate your opinions...
RegardsNo, that is not feasible. The friendly staff member will calculate a house for you at about 250,000, of course assuming some self-labor.
However, this does not cap the costs related to the land.
If you spend more time here on the forum or read older posts about costs and financing, you will get informed about additional building costs, special requests, and all the expenses that may arise.
Orion already mentioned it in his post!
And then, of course, you need to know how expensive building plots are in your area. You have probably already checked the prices for land in your location on the portals you mentioned??
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