ᐅ Building on a Tight Budget: Is It Possible?

Created on: 29 Dec 2020 21:11
S
SumsumBiene
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?
Y
ypg
22 Apr 2021 01:10
Olli-Ka schrieb:

Starting from June 1st, we have rented a holiday apartment on a flat-rate basis for 6 months - 50 m² (540 sq ft). 😀

That’s quite a long vacation!
Hopefully, Schleswig-Holstein won’t go into lockdown again right away 😳
O
Olli-Ka
22 Apr 2021 01:36
ypg schrieb:

That’s a long-term vacation! Hopefully, SH won’t go into lockdown again immediately.
Yeah, that was our goal, to (move back) live where others go on vacation.
This will be our primary residence, so the (overnight) lockdown rules don’t apply.
For the last 38 years, I’ve been moving around Germany for work, but that’s over now. I received a severance package, and my wife was able to get transferred.
Y
ypg
22 Apr 2021 01:53
No, I mean your June 1st vacation apartment 😉
O
Olli-Ka
22 Apr 2021 02:08
ypg schrieb:

No, I mean your holiday apartment from June 1st
You can actually register your primary residence in a holiday apartment.
By the way, it also saves tourist tax, although I rarely travel there :p
Regards, Olli
B
BackSteinGotik
22 Apr 2021 08:08
bra-tak schrieb:

Is this the case? I find it understandable and plausible given its concept related to the port. Popular cities simply can’t keep expanding building land more and more. Should the last green space just be built over? Eventually, those who want to build will have to move to small towns or new development areas in villages.


Can versus want. This topic isn’t new; it just reveals the illusion behind the pseudo-green buzzword “densification.” In moderation, it can be beneficial, but overall, cities become sterile as a result. The only real development happens in the outskirts—and that also means municipal mergers and cross-regional planning, both on a small and large scale.
11ant22 Apr 2021 13:38
Olli-Ka schrieb:

there was a golden handshake
I certainly hope not everything in one tax year ...
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/