ᐅ 130 sqm detached house or single-family home within my budget of 220,000
Created on: 28 Jan 2016 13:43
N
nils1985
Dear Forum,
Before my wife and I get in over our heads, I have a question regarding what is possible with a budget of €220,000 plus €20,000 in equity.
We are planning a single-family house in the Bremen/Lower Saxony area. The living area should be around 130 sqm (1,400 sq ft). We do not yet have a plot of land. The land costs approximately €45,000 to €55,000, excluding additional fees. The budget must cover everything, from closing the door to moving in furniture.
Is it even possible to build a single-family house or a modular house within these parameters?
Based on my online research, I find it hard to imagine at the moment.
What construction period or overall timeline should be planned starting from the land purchase?
Which companies would be worth contacting?
Thank you in advance for your answers!
Before my wife and I get in over our heads, I have a question regarding what is possible with a budget of €220,000 plus €20,000 in equity.
We are planning a single-family house in the Bremen/Lower Saxony area. The living area should be around 130 sqm (1,400 sq ft). We do not yet have a plot of land. The land costs approximately €45,000 to €55,000, excluding additional fees. The budget must cover everything, from closing the door to moving in furniture.
Is it even possible to build a single-family house or a modular house within these parameters?
Based on my online research, I find it hard to imagine at the moment.
What construction period or overall timeline should be planned starting from the land purchase?
Which companies would be worth contacting?
Thank you in advance for your answers!
S
Steffen8029 Jan 2016 09:06Bauexperte schrieb:
Hello,
Crystal ball mode on: "Formats like "Bauretter & Co." rely on people trusting online knowledge more than a real person" Crystal ball mode off.
Regards, BauexperteThat might be true for some topics, such as craftsmanship and so on. But when it comes to financing or feasibility, I don’t believe that. Those formats rather thrive on a lack of education (even basic math skills).
Regards, Steffen + crystal ball 🙂
S
Steffen8029 Jan 2016 09:13Offtopic: In my opinion, the feasibility of financing depends on two factors: one’s own financial capacity (income minus expenses equals remainder — basic math from grade 2) AND a realistic self-assessment of personal money management skills as well as current life circumstances (e.g., planning to have children?). For both, I don’t need a consultant. Point 1 can be handled by a calculator, and point 2 by common sense.
S
Sebastian7929 Jan 2016 09:22That is somewhat naive – after all, people tend to overestimate themselves. And strangely enough, they often don’t even realize it 😉
An independent perspective (such as a mortgage advisor) can be really helpful in such cases…
An independent perspective (such as a mortgage advisor) can be really helpful in such cases…
D
Doc.Schnaggls29 Jan 2016 09:22Steffen80 schrieb:
I don’t need a consultant for either of these. Point 1 can be handled by a calculator and point 2 by common sense.Sorry, but I think you’re looking at this in a very black-and-white way...
Why are there so many different financing options? Certainly not because there is one "ideal standard option" that fits everyone.
I trained as a banker and also studied further — but since I don’t deal with this daily, I would never presume to have a full overview of all current financing options that might make sense for me personally, simply because this isn’t my everyday business.
It definitely makes sense that there are financial advisors specializing in financing (and other areas of banking).
After all, it’s not just the classic amortizing loan that every banker can explain in their first year of training...
If you can collect, filter, and finally assess all this yourself (in addition to your responsibilities as a business owner), you have my full respect.
Still, I have some doubts about that...
S
Steffen8029 Jan 2016 09:27Doc.Schnaggls schrieb:
Sorry, I think you might be seeing this too much in black and white...
Why are there so many different financing options? Definitely not because there is one "ideal standard option" for everyone.
I trained as a banker and also completed further studies — but since I don’t work with this every day, I would never claim to have a complete overview of all current financing options that might be individually suitable for me, because it’s simply not part of my daily routine.
It makes sense that there are specialist advisors for financing (and other areas of banking).
After all, it’s not just the classic fixed-rate loan that any banker can explain to you in their first year...
If you can gather, filter, and finally evaluate all that yourself (on top of your duties as a business owner), you have my full respect.
Still, I have some doubts...My question was more about feasibility than the financing option. We also had an advisor, but an independent one. They do make sense because they have an overview of the market and can present different financing options. But thinking about it... hmm... this could actually be done with software as well 🙂