Hello,
this thread is for those readers who, like us, often feel a bit lost here.
We are about to sign a contract for building a house to KfW 40 standard with a local general contractor. Financing through KfW and ISB.
A brief introduction about us
Income and assets situation:
Expenses:
Mobility costs: for 2 cars total
Insurance costs:
Living expenses:
Summary of income and expenses:
General information about the property:
Construction or purchase costs:
Other costs:
Cost summary:
Necessary loan details:
Let the show begin. Looking forward to your feedback. I thought it might be interesting since some questions of this kind have come up recently.
this thread is for those readers who, like us, often feel a bit lost here.
We are about to sign a contract for building a house to KfW 40 standard with a local general contractor. Financing through KfW and ISB.
A brief introduction about us
- Who are you? H. and M.
- How old are you? 33 and 30
- Any children? One boy, turning one next week
- Are more children planned? None due to the house build
- What do you do for work? H: CNC machinist, M: administrative clerk
- Are you employed, self-employed, retired, homemaker, etc.? Employed
- How many hours do you work? H: 40 plus a part-time job twice a week for 2 hours each, M: 16 hours (part-time on parental leave)
Income and assets situation:
- What income do you have (gross/net)? H: 3258/2312 plus part-time job about 250 €; M: 1282/1048
- How much child benefit do you receive? 250 €
- Other benefits like parental allowance, sick pay, etc.?
- How much equity do you have? 130,000
- How much of that equity do you plan to invest in the house project? 100,000
Expenses:
- Current cold rent (rent excluding utilities) 450 €
- Current warm rent (rent including utilities) 550 €
- Electricity 75 €
- Phone, internet, mobile 80 €
Mobility costs: for 2 cars total
- Insurance 96 €
- Taxes 26 €
- Fuel 210 €
Insurance costs:
- Liability insurance 6.60 €
- Capital or term life insurance 13 €
- Pension insurance (including Riester, Rürup, etc.) 100 €
- Disability insurance 126 €
- Accident insurance 45 €
- Household contents insurance 4 €
- Union fees 33 €
Living expenses:
- Groceries 500 €
- Eating out 0
- Personal care/drugstore 40 €
- Clothing 20 €
- Cleaning 5 €
Summary of income and expenses:
- Total income 3860
- Total expenses 1899.6
- Balance 1961
- of which cold rent 450
General information about the property:
- How large is the plot? 663 sqm (7135 sq ft)
- Dimensions? 24 x 27.5 m (79 x 90 ft)
- Land value? 65 € per sqm (approximately 6 per sq ft)
- New build, existing house (year built), type of house? New build, detached house, gable roof, KfW 40, 1.5 storeys
- Garages? Single garage
- Size of the house? (Living area / usable area) Living area 129 sqm (1390 sq ft), usable area 143 sqm (1540 sq ft) plus 32 sqm (344 sq ft) garage
- Market value of land and house after completion? 503,000 €
Construction or purchase costs:
- Land costs 43,095 €
- Additional acquisition costs (notary, court, property transfer tax, agent) 2400 €
- Construction or purchase costs (including architect, structural engineer) 386,000 €
- Construction ancillary costs (e.g., utility connections, soil expert, construction power, etc.) 5,000 €
- Outdoor facilities/terrace, paths, garden design, fences, etc. 10,000 €
- Total costs 446,495 €
Other costs:
- Kitchen costs 15,000 €
- Photovoltaic system 12,000 € (6 kW with 6 kW battery storage)
- Energy consultant 5,325 €
- Garage in owner’s construction 17,500 €
- Front door 4,500 €
Cost summary:
- Total costs 500,820 €
- Deductible equity 145,495 €
- Financing amount 355,525 €
Necessary loan details:
- Loan amount 170,000 € KfW, 175,000 € ISB LM
- Loan type (e.g., annuity loan, bullet loan, etc.) annuity loan
- Interest rate (p.a. nominal, otherwise effective) 0.53 % KfW, 3.4 % ISB
- Fixed interest period 10 years KfW, until full repayment ISB
- Estimated total term until full repayment September 30, 2052
- Initial repayment rate KfW 2.77 %, ISB 1.8 %
- Monthly payment KfW 469.03 €, ISB 758.33 €, total: 1,226.06 €
- Are prepayments allowed? (Please state amount) ISB 10% per year
Let the show begin. Looking forward to your feedback. I thought it might be interesting since some questions of this kind have come up recently.
H
hanghaus202320 Dec 2023 10:55You are aware, of course, that a funding stop was imposed on December 14, 2023.
B
bastel210920 Dec 2023 12:56-LotteS- schrieb:
Could you please share your scope of work? The price quoted suggests that some items might be missing... KfW40 often breaks even when comparing additional costs to interest savings. Does your general contractor have experience with KfW40? The energy consultant fees are possible but usually quite low. Are services like LCA, heating load calculation, and blower door test included?
Otherwise, I agree with everything @WilderSueden says 🙂 This needs to be calculated. Depending on the bank’s interest rate offer, the 300 kWh/m² (this might be a context-dependent building energy measure) could mean about €45,000 (around $48,000) in interest savings for a family with one child.
bastel2109 schrieb:
You need to calculate that. Depending on the bank’s interest rate offer, the 300 standard could mean about €45,000 (approximately $48,000) in interest savings for a child. I am currently building with KfW300 without QNG certification – so far, there have been no savings. Calculating this in advance is always tricky because changes inevitably occur along the way for various reasons. It really adds up...
It’s not just the energy consultant fees but also more expensive materials, which some charge quite a lot for.
H
HungrigerHugo20 Dec 2023 13:47-LotteS- schrieb:
I am currently building with KfW300 standards without QNG certification – so far, there are no savings at all. Calculating costs in advance is always tricky, as there are usually changes along the way for one reason or another. It all adds up quite a bit...
It’s not just the energy consultant fees but also more expensive materials, which some charge quite heavily for. In cases like this, I would probably go with a general contractor offering a fixed price. Otherwise, you end up paying a lot for an unreliable energy consultant.
H
HausNummer 920 Dec 2023 16:28HungrigerHugo schrieb:
In a case like this, I would probably also go for the general contractor with a “fixed price.” Otherwise, you end up paying a fortune for a questionable energy consultant. We negotiated the additional costs from a single-family house 55 to 40 with a surcharge of €20,000 (approx. $21,500). This includes thicker masonry, different windows, and better roof insulation. On top of that, there is the photovoltaic system and the energy consultant. The fee for the energy consultant is already fixed at €5,325 (approx. $5,700). This covers all calculations, as we already have everything available, and the blower door test is included as well.
We have also already received the approval from KfW. Today the contract was signed with the general contractor.
Similar topics