ᐅ Assessment of Building vs. Buying a Single-Family Home

Hello Schönden,

I’m new here and currently dissatisfied with my living situation, so I’m considering downsizing.

I own an older house built around 1975. It would likely sell for approximately 330,000 to 370,000 (based on offers from about two years ago).

I want to buy or build a single-person house with a maximum size of 60 to 100 square meters (645 to 1,076 square feet). I do not yet have a building plot. I prefer to stay in the city or on the outskirts rather than move to a rural area. Plots of land, when available, cost around 100,000.

I am looking for a turnkey solution.

How realistic is my plan in general? Thank you in advance for any insights!

Hausbau42 schrieb:

How realistic is my plan in general? Thanks in advance for any assessments!

Very realistic.
However, (referring only to new builds; prices for existing homes are different) a budget of €330,000–370,000 (approximately $358,000–401,000) will likely not cover a turnkey new build. So either you have some additional savings or you will need to take out a small loan.

Hausbau42 schrieb:

I want to buy or build a single-family house with a maximum area of 60-100 sqm (650-1075 sq ft). I don’t have a building plot yet. I want to stay in the city (suburban area), not move to the countryside.

Infill development is popular. Could your current plot possibly allow for a second building plot of that size?

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Thanks in advance for your assessments! Approximately how high should the loan or the remaining amount needed be? It is not possible to build on the existing plot of land.

Between €50,000 and €700,000. It depends on your requirements.
- actual sale price of the old house
- size
- features
- basement
- garage/carport
- terrace
- landscaping
- own work contributions
- additional construction costs (mainly earthworks due to hillside or sloped plot, etc.)

Just take a look online to see what house suppliers charge for houses of this size. How are we supposed to know exactly what you want?

Hausbau42 schrieb:

This should bring me around 330,000 to 370,000 (offers from about 2 years ago).

These offers will no longer be available this year.
In principle, building a house is of course possible. However, there is no single person bonus. On the contrary: the financing bank will only have you as collateral, so everything is somewhat more difficult than if two people were on the loan agreement.
It depends on whether you bring home a net income of 2,000 euros or 4,000 euros.