Hello everyone,
I’m new here. My wife and I have been looking for a suitable plot of land for quite some time. We have now found a 605 sqm (6500 sq ft) plot that we like. After consulting with the local municipality, we had to submit an application for the plot. Today, we received an email from the mayor informing us that we have been awarded the plot. So far, we do not have a planned house design nor financing approval for either the land or the house. Our first appointment is on Friday at the prefab house exhibition in Erlangen. I am now wondering what the best approach is: to fully finance the land and house separately or to finance everything together.
Best regards,
Marcus
I’m new here. My wife and I have been looking for a suitable plot of land for quite some time. We have now found a 605 sqm (6500 sq ft) plot that we like. After consulting with the local municipality, we had to submit an application for the plot. Today, we received an email from the mayor informing us that we have been awarded the plot. So far, we do not have a planned house design nor financing approval for either the land or the house. Our first appointment is on Friday at the prefab house exhibition in Erlangen. I am now wondering what the best approach is: to fully finance the land and house separately or to finance everything together.
Best regards,
Marcus
DaSch17 schrieb:
We had two appointments at a model home park (Wuppertal). The whole day was a complete waste of time for us. In our experience, the focus in model home parks is solely on quick sales. You don’t get really detailed or thorough advice there.
However, model home parks are good for getting a general orientation... What do you like, what don’t you like. Collect ideas and maybe research them further at home via the internet. Pick floor plans you like and try customizing them yourself... When model homes are no longer current, they are usually not demolished but rented out instead. Providers without their own model homes often make use of these—so you shouldn’t assume that the quality you see there reflects what you would get from the company selling you the house. Furthermore, most providers work with commission-based sales representatives: on one hand, their technical knowledge is above that of a complete layperson but below that of a customer who has already been through several “consultation” meetings; on the other hand, they are not authorized to make binding statements (and in any case, any verbal promise not signed is likely meaningless). Creating pressure for a quick deal is pretty much the only skill these guys have.
Make sure you first learn how to read the conditions of the development plan (and complete your financing discussions) before you let yourself get carried away by exhibition visits or internet photo collections of dream houses!
K1300S schrieb:
It is definitely better to just stroll through the park to collect ideas and then schedule appointments for concrete consultations afterwards. Then the pressure to close a deal often isn’t so intense. Oh yes, I forgot to mention that: if you don’t live very close to the model home, the sales representative “on duty” there is rarely the one responsible for your area, and therefore has to actively push for a sale—this too partly “explains” the quality of advice you get.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
G
Grillhendl22 Jul 2020 17:56A brief rough guideline (maybe it helps) based on our building experience:
- First (still somewhat tentative) ideas about building a house were in January 2019
- Visited a model home park near Poing to get ideas and contacted developers for information materials. (At that time, we knew we wanted a timber frame house, most likely a “Swedish house”) and inquired with banks about the achievable budget and feasibility
- March 2019 Signed the building contract and pushed forward with financing
- August 2019 Received the building permit / planning permission (Financing was completed by the end of July – the building savings bank was rather difficult, but the bank itself went very smoothly)
- December 2019 Concrete slab poured (there were unfortunately some delays)
- January 2020 Start of construction
- June 2020 Moving in (it could have been earlier, but we didn’t quite keep up as planned with our own labor)
So it is definitely possible to get things done quickly, however my partner and I were in full agreement on EVERYTHING and no compromises had to be made at the expense of either party.
- First (still somewhat tentative) ideas about building a house were in January 2019
- Visited a model home park near Poing to get ideas and contacted developers for information materials. (At that time, we knew we wanted a timber frame house, most likely a “Swedish house”) and inquired with banks about the achievable budget and feasibility
- March 2019 Signed the building contract and pushed forward with financing
- August 2019 Received the building permit / planning permission (Financing was completed by the end of July – the building savings bank was rather difficult, but the bank itself went very smoothly)
- December 2019 Concrete slab poured (there were unfortunately some delays)
- January 2020 Start of construction
- June 2020 Moving in (it could have been earlier, but we didn’t quite keep up as planned with our own labor)
So it is definitely possible to get things done quickly, however my partner and I were in full agreement on EVERYTHING and no compromises had to be made at the expense of either party.
P
Pinkiponk22 Jul 2020 19:01Acxiss2020 schrieb:
... I’m new here. ... Our first appointment is on Friday at the prefabricated house exhibition in Erlangen. ...This might sound trivial and isn’t really an answer to your question, but it’s very important to me: Please do not sign anything on Friday, especially no preliminary contract with supposedly special one-time conditions just for you and with a supposed right of withdrawal. If the house sellers know you already own a plot of land, they will, to put it mildly, move heaven and earth to get your signature. The house-selling process is often not entirely fair or transparent. You might also be offered “gifts” if you sign immediately or soon after. Please be cautious and don’t hesitate to ask here on the forum more than once rather than too little.A
Acxiss202023 Jul 2020 15:57Hello everyone,
Sorry for not getting back sooner. Yesterday, I looked at various websites with budget calculators and financing offers.
The plot was purchased commission-free at 40 Euro per square meter, with development costs including all “fees” amounting to around 25,500 Euro. We could cover this from our own capital if necessary, although that would use up about two-thirds of it.
We set a budget between 220,000 and 260,000 Euro. According to Dr. Klein, financing around 234,000 Euro would be possible given our situation. However, with the sloped site, it might be tight. As for the design and size, we were considering something like the Living House Sunshine 165 or the Fingerhaus Neo 100. We really like the Living House.
I’m curious to hear what we’ll learn tomorrow.
Best regards
Sorry for not getting back sooner. Yesterday, I looked at various websites with budget calculators and financing offers.
The plot was purchased commission-free at 40 Euro per square meter, with development costs including all “fees” amounting to around 25,500 Euro. We could cover this from our own capital if necessary, although that would use up about two-thirds of it.
We set a budget between 220,000 and 260,000 Euro. According to Dr. Klein, financing around 234,000 Euro would be possible given our situation. However, with the sloped site, it might be tight. As for the design and size, we were considering something like the Living House Sunshine 165 or the Fingerhaus Neo 100. We really like the Living House.
I’m curious to hear what we’ll learn tomorrow.
Best regards
Acxiss2020 schrieb:
The plot was purchased without commission at 40 EUR per square meter. Including all "fees," the total cost would be around 25,500 euros. So approximately 600 m² (6500 sq ft) of land?
Fully developed? Ready to build at 40 EUR/m² (about 4.00 USD/ft²)? In which region are you planning to build?
Acxiss2020 schrieb:
Our budget is set between 220,000 and 260,000 euros. According to Dr. Klein, around 234,000 euros would be possible for our situation. Is the 234,000 total project budget or just for the house?
Let’s assume it is the total budget:
234,000 euros minus 25,500 euros for the land minus 60,000 euros for additional building costs (due to sloped site) leaves 148,500 euros for a single-family home with a basement (because of the slope).
Sorry, that won’t work.
