ᐅ Approach (Prefabricated House / Solid Construction). Is the Project Realistic?

Hello everyone,

I would appreciate some initial guidance from you on such a complex topic.

The plan is for my wife and me, together with family members, to build a semi-detached house. Existing properties are unfortunately either too expensive or require extensive renovations, which makes them costly overall. We are currently trying to find a plot of land (preferably in the southern part of Dortmund) and have already discussed the possible financial framework with our banks: for the plot, house, and additional costs (property transfer tax, notary and court fees) – basically a “complete” package – a maximum of 350,000 EUR is planned.

We have upcoming meetings with Bien-Zenker, Fingerhaus, and Weberhaus to get a sense of whether a prefabricated house could fit into our budget. I hope these providers will conduct some kind of preliminary assessment with us, allowing us to get a realistic purchase price. However, I have already read that Bien-Zenker and Weberhaus tend to be somewhat “more expensive” than, for example, Fingerhaus. We are aiming for about 120–130 m² (1300–1400 sq ft) of living space; more is not needed. A basement is not planned for cost reasons. Instead, we plan to have a larger garage (e.g., 9 m (30 ft)).

At the same time, we are open to traditional masonry construction (through a developer) depending on what can be better realized within our budget. I have read here that prefabricated houses with smaller living areas (less than 130 m²) can be more expensive than masonry houses? So, we want to first learn how much such a semi-detached house would cost for us, so we can then determine what size plot of land we can afford. As a third alternative, besides prefab and masonry houses with a developer, we also have an architect who could directly contract and manage the individual trades – this might possibly be the most cost-effective solution. Although we are aware that price is not the only deciding factor in a project like this.

Based on the financial possibilities, what would you recommend more – prefabricated house or masonry house? Or is it not possible to make such a general statement as initially assumed?

We understand that the mentioned budget is not very high, but is it still realistic to build a new house with it?

Best regards & thanks!
Gatho

What is the expected price of the plot?

Good morning,

this will be really tight. Additional construction costs usually range between 35,000 and 50,000 euros (fees, connection costs, landscaping, financing costs, etc., it can always be more). Inside, there will also be a few thousand euros for the kitchen, lighting, and bathroom fixtures. So, there remain about 280,000 to 300,000 euros for the house plus the land. After deducting the land, probably less than 200,000 euros remain—and that doesn’t include the foundation slab, basement, or anything related to the house or garage. For a house, a common rough estimate is living area * 1,600 euros plus painting and flooring, but that likely doesn’t sufficiently cover the necessary installations for smaller houses.

Regards,
I.

Good morning,

The plot is expected to cost between 55,000 and 75,000 EUR (300-400m² (3,230-4,300 sq ft)).

Are the following assumptions realistic?
- House: 130m² (1,400 sq ft) x 1,600 EUR = ~ 210,000 EUR
- Plot: 75,000 EUR (assuming the highest amount)
- Additional costs: 6.5% property transfer tax + 1.5% notary and court fees = 22,800 EUR (based on plot and house value – so a "worst case" scenario)
- Construction-related additional costs: 35,000 EUR
- Kitchen can be reused (it's still fairly new)
- We will do flooring and painting ourselves, material costs about 10,000 EUR
- Garage: 8,000 EUR

Total -> approx. 360,000 EUR

There might still be some room for negotiation on the plot price (though not much)… is the 210,000 EUR price realistic for a 130m² (1,400 sq ft) house?

Best regards,
Gatho

Good morning,

Gatho schrieb:

The plot will probably cost between 55,000 - 75,000 EUR (300-400m² (3,230-4,300 sq ft)).

Are you sure? In the southern part of Dortmund? We lived there for a while, and I found the rent prices rather high, so I’m surprised by your figures above.

Gatho schrieb:

- House: 130m² (1,400 sq ft) x 1,600 EUR = ~ 210,000 EUR

That fits.

Gatho schrieb:

- Plot: 75,000 EUR (assuming the higher value)
- Additional costs: 6.5% land transfer tax + 1.5% notary & court fees = 22,800 EUR (based on plot value + house price – worst case)
- Extra construction costs: 35,000 EUR
- Kitchen can be kept (it’s not old)
- We’ll do flooring and painting ourselves, material costs about 10,000 EUR
- Garage: 8,000 EUR

Total -> approx. 360,000 EUR

That also fits. However, you should always keep a contingency fund for unforeseen costs (e.g., soil report results) and extras. Outdoor landscaping must also be done – at least the driveway. Realistically, I would budget closer to 400,000 EUR; consider yourself lucky if it comes in cheaper.

Gatho schrieb:

There may still be some margin on the plot price (though not much)... is 210,000 EUR for 130m² (1,400 sq ft) a realistic house price?

In the case of solid masonry houses: yes. For high-quality prefabricated houses, rather not, which actually depends less on the size and more on the manufacturing process 😉

Regards, Bauexperte