Hello,
Actually, we have been looking for an existing property since last summer. According to our mortgage broker, we have a budget of around 300,000 (all-in), which a bank is likely to approve.
The market here in Schleswig-Holstein has also become very tight, and the houses on offer are often in need of renovation, so you easily exceed the budget (especially since many city dwellers laugh at our house prices and like to secure a holiday home here).
Now the question is whether it would be possible to build a house within our budget (assuming we can get a building plot). Our requirements are not very high; it doesn’t need to be a huge house. 120 square meters (1300 square feet) would be completely sufficient.
In a neighboring village, plots are currently being developed. The price isn’t fixed yet but is expected to be below 100 euros per square meter. The plots are about 700 square meters (7500 square feet) in size. Unfortunately, we have no experience with this topic at all, and I definitely don’t want to miscalculate.
We can only contribute limited personal labor. We are not unskilled, but both fully employed with a child, dog, and horse. What are your thoughts?
Actually, we have been looking for an existing property since last summer. According to our mortgage broker, we have a budget of around 300,000 (all-in), which a bank is likely to approve.
The market here in Schleswig-Holstein has also become very tight, and the houses on offer are often in need of renovation, so you easily exceed the budget (especially since many city dwellers laugh at our house prices and like to secure a holiday home here).
Now the question is whether it would be possible to build a house within our budget (assuming we can get a building plot). Our requirements are not very high; it doesn’t need to be a huge house. 120 square meters (1300 square feet) would be completely sufficient.
In a neighboring village, plots are currently being developed. The price isn’t fixed yet but is expected to be below 100 euros per square meter. The plots are about 700 square meters (7500 square feet) in size. Unfortunately, we have no experience with this topic at all, and I definitely don’t want to miscalculate.
We can only contribute limited personal labor. We are not unskilled, but both fully employed with a child, dog, and horse. What are your thoughts?
askforafriend8 Apr 2021 17:19The problem is (perhaps someone with expertise can confirm or refute my theory) that you actually can’t really build “too small.” What I mean is that there are many fixed high costs that increase independently (or not directly proportional) of the building size. For example, you need an excavator to dig the foundation pit. We are currently considering a similar question, namely to build only what we really need without having grandiose plans. It starts with the building size.
So, can we assume that for example, 100 m² (1,076 sq ft) of floor area costs X amount of money, and 200 m² (2,153 sq ft) — which is twice as much — costs not 2 times X, but rather about 1.8 times X?
Of course, following costs for a larger building include more tiles/flooring, windows, etc., but isn’t it proportionally more expensive to build a smaller house?
This question will also be relevant for the original poster: Is it worth building to KfW 55 standard, or would it be better to comply with the regular Energy Saving Ordinance?
So, can we assume that for example, 100 m² (1,076 sq ft) of floor area costs X amount of money, and 200 m² (2,153 sq ft) — which is twice as much — costs not 2 times X, but rather about 1.8 times X?
Of course, following costs for a larger building include more tiles/flooring, windows, etc., but isn’t it proportionally more expensive to build a smaller house?
This question will also be relevant for the original poster: Is it worth building to KfW 55 standard, or would it be better to comply with the regular Energy Saving Ordinance?
askforafriend8 Apr 2021 17:20nordanney schrieb:
I prefer to stay where German is spoken. Bavaria feels like moving abroad...In which region is German actually spoken? Where exactly is that supposed to be?
SumsumBiene8 Apr 2021 17:34I was also thinking about potential savings.
Exactly. I’m always happy when I manage to save a significant amount or get much more value for the money.
The focus is on potential savings. We know that a kitchen is not included, but it still has to be factored in.
Worrier84 schrieb:
If you can save a lot of money anywhere, it’s on furnishings. My entire apartment (except for the bed) is from eBay Classifieds. Rent a van and off you go. People have too much money 🙂.
Exactly. I’m always happy when I manage to save a significant amount or get much more value for the money.
The focus is on potential savings. We know that a kitchen is not included, but it still has to be factored in.
H
Hausbautraum208 Apr 2021 18:27SumsumBiene schrieb:
It's about potential savings. We already understand that a kitchen isn't included, but it still has to be taken into account.
I think they were referring to flooring and painting, which are often not included in turnkey contracts.
I really can't imagine how it would be possible to build for 250,000 euros (about 270,000 USD). I have come to understand that prices in the Munich metropolitan area are on a completely different level, but even so, we're paying double. We also order many things online—not from Munich—and install them ourselves, yet everything still costs money.
Before buying a plot of land, I would get a quote first to see if it’s roughly within a possible budget.
askforafriend schrieb:
The problem is (maybe someone with expertise can confirm or refute my theory) that it’s actually hard to build “too small.” What I mean is that there are many fixed costs that rise regardless of (or not directly proportional to) the building size. For example, you need an excavator to dig the foundation pit. We are currently asking ourselves something similar—building only what we truly need, without aiming for a dream house. It starts with the building size.
Can we assume, for example, that a footprint of 100 sqm (1076 sq ft) costs X amount, and 200 sqm (2153 sq ft)—which is double the size—does not cost 2 times X, but rather about 1.8 times X?
Operating costs for a larger building obviously increase—more tiles/flooring, windows, and so on—but isn’t it actually more expensive per unit area to build a smaller house? I’m not a professional, but I would say this might only work if you subcontract everything individually (general contractors often calculate a flat rate per square meter), and even then there are step costs. Beyond a certain size, you suddenly need intermediate distribution systems or much more complex structural engineering (more steel), or you end up adding another bathroom and things like that.
askforafriend schrieb:
In which region is standard German really spoken, where is that supposed to be? It is said that standard German is spoken in the area in and around Hannover. I have never verified this.
Tolentino schrieb:
I'm not a professional, but I would say that this is only really possible with individual contracts (general contractors often calculate a flat rate per square meter), and even then, there are variable costs. Beyond a certain size, you suddenly need intermediate distribution or much more complex structural engineering (more steel), or you end up adding another bathroom and similar things.
They say that Standard German is spoken in the area around Hanover. I’ve never verified that. Yes, the area around Hanover is pretty much correct 🙂