ᐅ House Construction/Renovation Planning – Request for Feedback
Created on: 14 Mar 2025 17:11
H
Hausbau25_1H
Hausbau25_114 Mar 2025 17:11Dear forum,
I am new here and have been enthusiastically following many posts as a silent reader.
Now, things are gradually getting serious for us as well, so I would like to get some feedback from you to see if our planned approach is on the right track.
Specifically, we are both 32 and 33 years old (m32, f33), and we have two options:
1. Buy a new building plot and build from scratch (the plot will be on the market in 2–3 months)
2. Buy an existing property and modernize/renovate it (the house will be on the market in 1–2 months)
This is the plan we have in mind:
1a: Transparency about monthly income and expenses using a household budget (we are already working on this and are almost finished)
1b: Create a must-have and nice-to-have space and room planning (we have done this, which applies to both new build and existing property)
2a: Contact banks with our financial overview and equity to get financing offers (this is difficult since we don’t yet know the exact value of the existing property or the final plot price); we have already received some approximate offers via comparison platforms, but they are not specific or “secure” enough for me
2b: Here we are unsure — should we a) approach both large and small players with our space planning and the possible plot (development plan is available) to review their offers, or b) first approach an architect with our ideas to have a floor plan created and then go to the companies? Could architects (possibly also via “a better place”) also assist us with potential renovation work in the existing property?
3: Further steps depend on point 2, so I won’t go into that yet...
In general, we want to make the best use of the time until both options are on the market so that we are not caught off guard or fall behind. Your feedback would be very helpful — thank you in advance! If you need any more information, please let me know!
I am new here and have been enthusiastically following many posts as a silent reader.
Now, things are gradually getting serious for us as well, so I would like to get some feedback from you to see if our planned approach is on the right track.
Specifically, we are both 32 and 33 years old (m32, f33), and we have two options:
1. Buy a new building plot and build from scratch (the plot will be on the market in 2–3 months)
2. Buy an existing property and modernize/renovate it (the house will be on the market in 1–2 months)
This is the plan we have in mind:
1a: Transparency about monthly income and expenses using a household budget (we are already working on this and are almost finished)
1b: Create a must-have and nice-to-have space and room planning (we have done this, which applies to both new build and existing property)
2a: Contact banks with our financial overview and equity to get financing offers (this is difficult since we don’t yet know the exact value of the existing property or the final plot price); we have already received some approximate offers via comparison platforms, but they are not specific or “secure” enough for me
2b: Here we are unsure — should we a) approach both large and small players with our space planning and the possible plot (development plan is available) to review their offers, or b) first approach an architect with our ideas to have a floor plan created and then go to the companies? Could architects (possibly also via “a better place”) also assist us with potential renovation work in the existing property?
3: Further steps depend on point 2, so I won’t go into that yet...
In general, we want to make the best use of the time until both options are on the market so that we are not caught off guard or fall behind. Your feedback would be very helpful — thank you in advance! If you need any more information, please let me know!
Your question shows little preparation and background knowledge.
In this context, I would first consult a financial advisor to determine the maximum funding amount and then plan the new build with an architect. From my biased perspective, this is a better approach than jumping into a renovation without sufficient understanding.
In this context, I would first consult a financial advisor to determine the maximum funding amount and then plan the new build with an architect. From my biased perspective, this is a better approach than jumping into a renovation without sufficient understanding.
N
nordanney14 Mar 2025 18:051. New construction seems to be possible with a known plot of land. This allows for a rough calculation. Purchase price of the land + purchase-related additional costs + 3,000 per square meter (square yard) of living space + construction-related additional costs (around 50,000 as a placeholder) + garage + landscaping/terrace/driveway.
Additionally, set aside a budget for any new furniture, kitchen, garden tools, lighting, etc. (which initially are not directly related to the house costs).
2. It seems that no specific house has been decided on yet. Therefore, it is impossible to make an assessment.
3. Financing depends on the costs from points 1 or 2. Just do a rough calculation based on point 1 and consult your bank or a mortgage broker to verify your budget.
Whether the final result is a standard house, an "architect-designed" home, or a renovation depends largely on your preferences and financial situation—and on the size of your plot. I don’t know your local prices, but a plot between 400 and 600 square meters (4,300 and 6,500 square feet) could be as expensive as a new Bentley—or just the cost of a bigger pizza if you build out in the middle of nowhere.
Additionally, set aside a budget for any new furniture, kitchen, garden tools, lighting, etc. (which initially are not directly related to the house costs).
2. It seems that no specific house has been decided on yet. Therefore, it is impossible to make an assessment.
3. Financing depends on the costs from points 1 or 2. Just do a rough calculation based on point 1 and consult your bank or a mortgage broker to verify your budget.
Whether the final result is a standard house, an "architect-designed" home, or a renovation depends largely on your preferences and financial situation—and on the size of your plot. I don’t know your local prices, but a plot between 400 and 600 square meters (4,300 and 6,500 square feet) could be as expensive as a new Bentley—or just the cost of a bigger pizza if you build out in the middle of nowhere.
nordanney schrieb:
2. It seems there is no specific house yet.related toHausbau25_1 schrieb:
2. Buy an existing property and renovate/modernize it (house will be on the market in 1-2 months)there also seems to be a property already. So check whether the desired room layout fits and determine the need for renovation.Starting with a household budget is a sensible approach. Banks usually calculate living expenses using flat rates, but these standard amounts don’t always reflect reality. Expensive hobbies like horseback riding, Harley-Davidson motorcycles, dining out daily, traveling, etc., can quickly exceed these flat rates, leading to inaccurate assumptions.
I have always kept a detailed record of fixed costs, savings rate, variable expenses, and so on. This way, I could determine the exact amount left each month that I could afford to finance. This approach has proven very useful and can sometimes be quite eye-opening.
Regarding existing properties: do you know the house? Either you walk in and say: wow! The location is great, the layout suits us, we could easily move in! Or: well, the exterior looks decent, but the rest needs to be changed. If it’s the second case, you’re better off building new or demolishing the old building and starting from scratch. Otherwise, it usually doesn’t make financial sense.
I have always kept a detailed record of fixed costs, savings rate, variable expenses, and so on. This way, I could determine the exact amount left each month that I could afford to finance. This approach has proven very useful and can sometimes be quite eye-opening.
Regarding existing properties: do you know the house? Either you walk in and say: wow! The location is great, the layout suits us, we could easily move in! Or: well, the exterior looks decent, but the rest needs to be changed. If it’s the second case, you’re better off building new or demolishing the old building and starting from scratch. Otherwise, it usually doesn’t make financial sense.
Hausbau25_1 schrieb:
Your feedback would be very helpful to us – thank you in advance! If you need any more information, please feel free to ask!For constructive feedback, wouldn’t your details about income, plans for children, and fixed expenses be necessary? There should be some information to base a response on.Similar topics