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.
HausNummer 9 schrieb:
But what’s the pointI’d like to throw that question back at you: HausNummer 9 schrieb:
Here is our scheduleWhat’s the point of publishing a schedule that doesn’t cover every stop and isn’t on time? You write something like “fire away” in the opening post, but then you don’t make use of the replies.
For example, here:
HausNummer 9 schrieb:
Application for temporary construction electricity and water, installation of the electrical distribution box, and connection to the construction water supplyApplication! That means rent and consumption costs are your responsibility. HausNummer 9 schrieb:
I didn’t upload the construction scope description because it’s over 20 pages.You can easily upload 20 photos of the construction scope description here. That’s not much.
HausNummer 9 schrieb:
I just wanted to share our timeline here for other interested people. But that’s probably why “regular” folks with simple lives, who really have very low expenses, find it here. Don’t let anything spoil your enjoyment of participating here – but also remember that many people consider themselves “normal” too ;-)
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
H
hauskauf198721 Dec 2023 16:09Listen to the people here and double-check your building permit / planning permission. Or post it here. No one wants to harm you, just to help you avoid unpleasant surprises ;-)
Regarding electricity: if you have to pay for it yourself, budget around 3,000–5,000 euros (approx. $3,300–5,500).
Regarding electricity: if you have to pay for it yourself, budget around 3,000–5,000 euros (approx. $3,300–5,500).
H
HausNummer 921 Dec 2023 16:23ypg schrieb:
I would like to turn the question back:
What is the point of publishing a schedule that does not take every stop into account and is not within the time limit?From my side, it may have been ignorance, but from your side, it was deliberate provocation.
I thank most of you here for genuinely constructive concerns and for providing a lot of input that I can use to review things again. I will not continue writing here for certain reasons. Sorry to those who still asked questions. I could still answer all of them, but the answers would be twisted again by other participants. That just isn’t enjoyable.
Maybe I will provide an update from time to time.
HausNummer 9 schrieb:
From my side, it might have been ignorance, but from your side, it was deliberate provocation. Now don’t twist the facts.
I know: when you show someone the reality—not gently hinting, but more like hitting them with a wooden plank—you usually don’t make friends… because those affected don’t like to hear it. But “provocation” is something quite different from what I wrote here.
I only summarized what others had timidly or individually suggested.
As I already said:
ypg schrieb:
You really should do a projection yourself comparing the living costs and the house costs. … and use the answers from this thread.
R
Radfahrer21 Dec 2023 17:24The package is really a bit tight.
A little more leeway wouldn’t hurt.
My employer went bankrupt 2 or 3 years after the house was built.
On the other hand, some things are exaggerated here.
For the construction power, I used an extension reel reaching my neighbor’s property.
Not 3,000–5,000€.
In that case, I would rather buy an unbalanced load-capable emergency power generator.
A little more leeway wouldn’t hurt.
My employer went bankrupt 2 or 3 years after the house was built.
On the other hand, some things are exaggerated here.
For the construction power, I used an extension reel reaching my neighbor’s property.
Not 3,000–5,000€.
In that case, I would rather buy an unbalanced load-capable emergency power generator.