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?
Tassimat schrieb:
Every situation is different. Unlike Jana, I believe the original poster lives a frugal lifestyle and plans a modest house on an affordable plot of land. Also, the family planning is complete. This provides stable conditions.
Still, keeping a horse is an expensive hobby, and the child is reaching an age when costs are increasingly higher.
In this case, I don’t yet see how a house for €300,000 (about $320,000) is feasible, especially if it is supposed to be fully paid off in 20 years, due to retirement starting then. According to a rough internet calculator, that would be around €1,370 (about $1,450) per month for the mortgage payment. + monthly utilities and additional costs of €400 (about $420). This means that including reserves, half of the available net income is already allocated.
Furthermore, the total cost will likely exceed €300,000 (about $320,000).
SumsumBiene schrieb:
no renovation backlog for 285 Older people can be funny. The previous owner of my house also thought that only the front door needed to be replaced because cold air was coming in there. I nodded understandingly, praised the condition of the house, and started a full renovation six months later.
Let’s do the math. Plot 70 with additional costs. Standard single-family house, solid construction, 150 square meters (1,615 square feet), with solar thermal system for domestic hot water. Total is 220. Earthworks 10 extra, additional costs for water, sewage, etc. 10, painting 10 with a Polish on-site team, 10 for the bare minimum in the garden, driveway—not including lawn or similar—graveled driveway, not paved, 10 for a few extra power outlets and similar, totaling 270. Leaving 30 as a reserve for unforeseen expenses.
What do you get for that? A house in the countryside in the country’s most beautiful federal state, close to a cowshed and far from a cinema, made of Ytong blocks with brick cladding, standard white windows, small tiles, smooth interior doors, concrete roof tiles, pine staircase, radiator heating, gas boiler, gable ends not made of brick but clad in larch wood, upper floor walls entirely drywall, ground floor built with solid masonry, basic sanitary fittings, and a rough, undeveloped plot.
These are the facts. The rest is up to the person asking.
What do you get for that? A house in the countryside in the country’s most beautiful federal state, close to a cowshed and far from a cinema, made of Ytong blocks with brick cladding, standard white windows, small tiles, smooth interior doors, concrete roof tiles, pine staircase, radiator heating, gas boiler, gable ends not made of brick but clad in larch wood, upper floor walls entirely drywall, ground floor built with solid masonry, basic sanitary fittings, and a rough, undeveloped plot.
These are the facts. The rest is up to the person asking.
K
knalltüte30 Dec 2020 22:01@Nordlys
You can enjoy a great life even in "something like this" 🙂
P.S. A gable made of larch is really nice!
You can enjoy a great life even in "something like this" 🙂
P.S. A gable made of larch is really nice!