Dear Homebuilding Forum,
I have read several threads and researched a lot online. However, the estimates for the construction costs of a semi-detached house vary widely. Therefore, I have created a detailed calculation and would like to know whether it can be considered realistic.
Basics: Family with one child, building a semi-detached house on a slab foundation, approximately 140m² (1505 sq ft), KfW40 energy standard without QNG, architectural planning, brick façade, pitched roof, expanded terrace, large garage for one car plus 1–2 bicycles and storage, heat pump or district heating, photovoltaic system, possibly required central ventilation, electric roller shutters, aluminum entrance door, parquet or high-quality laminate flooring, ceiling spots, and finished attic. We still have time, as the plots will not be developed until at least mid-2025.
Plot costs:
Purchase price for 330m² (3550 sq ft) = approx. €153,450
Land transfer tax = €9,974.25 (6.5% of the plot)
Notary/land registry = €2,301.75 (1.5% of the plot)
No real estate agent
Development costs = €15,000 (flat rate for house connections, etc.)
No site preparation
Total: €180,726
Building costs:
Shell construction: €240,000 (walls, roof, insulation, brickwork, windows)
Slab foundation: €23,000 (including structural engineering, insulation)
Interior finishing: €100,000 (heat pump, central ventilation, electrical installation, underfloor heating, doors, photovoltaic system, electric roller shutters, sanitary fixtures, painting, floor coverings)
Outdoor facilities: €23,520 (prefabricated garage ideally connected to the house by a door, paths, terrace, lawn, hedges, fences)
Architect: €29,000 (all service phases, can be done by an acquaintance, fixed cost, no billing according to HOAI)
Building permits: €3,528 (flat rate, site setup, including building application)
Surveying: €3,500 (flat rate)
Soil report: €1,500 (flat rate)
Building inspection report: €2,500 (flat rate)
Earthworks: €12,500 (flat rate)
Insurance: €1,000 (flat rate)
Additional interior fittings: €40,000 (kitchen, new furniture)
Total: €480,048
Total costs: €660,774
+ Buffer: €57,605 (12% of building costs)
Grand total: €718,379
This is regardless of financing, subsidy complexity, or own equity for now. Is this realistic?
I appreciate any experience you can share.
Best regards,
Christian
I have read several threads and researched a lot online. However, the estimates for the construction costs of a semi-detached house vary widely. Therefore, I have created a detailed calculation and would like to know whether it can be considered realistic.
Basics: Family with one child, building a semi-detached house on a slab foundation, approximately 140m² (1505 sq ft), KfW40 energy standard without QNG, architectural planning, brick façade, pitched roof, expanded terrace, large garage for one car plus 1–2 bicycles and storage, heat pump or district heating, photovoltaic system, possibly required central ventilation, electric roller shutters, aluminum entrance door, parquet or high-quality laminate flooring, ceiling spots, and finished attic. We still have time, as the plots will not be developed until at least mid-2025.
Plot costs:
Purchase price for 330m² (3550 sq ft) = approx. €153,450
Land transfer tax = €9,974.25 (6.5% of the plot)
Notary/land registry = €2,301.75 (1.5% of the plot)
No real estate agent
Development costs = €15,000 (flat rate for house connections, etc.)
No site preparation
Total: €180,726
Building costs:
Shell construction: €240,000 (walls, roof, insulation, brickwork, windows)
Slab foundation: €23,000 (including structural engineering, insulation)
Interior finishing: €100,000 (heat pump, central ventilation, electrical installation, underfloor heating, doors, photovoltaic system, electric roller shutters, sanitary fixtures, painting, floor coverings)
Outdoor facilities: €23,520 (prefabricated garage ideally connected to the house by a door, paths, terrace, lawn, hedges, fences)
Architect: €29,000 (all service phases, can be done by an acquaintance, fixed cost, no billing according to HOAI)
Building permits: €3,528 (flat rate, site setup, including building application)
Surveying: €3,500 (flat rate)
Soil report: €1,500 (flat rate)
Building inspection report: €2,500 (flat rate)
Earthworks: €12,500 (flat rate)
Insurance: €1,000 (flat rate)
Additional interior fittings: €40,000 (kitchen, new furniture)
Total: €480,048
Total costs: €660,774
+ Buffer: €57,605 (12% of building costs)
Grand total: €718,379
This is regardless of financing, subsidy complexity, or own equity for now. Is this realistic?
I appreciate any experience you can share.
Best regards,
Christian
S
Schorsch_baut29 Apr 2024 10:14Chris512 schrieb:
My wife works part-time for minimum wage. However, she likes the job.I would start there. At the moment, the full risk of a large financing falls on the sole earner—and that in sales. I had to show my wife that the dream of owning a house will only avoid becoming a nightmare if she lets go of a relaxed life with reduced part-time hours. She now works 75%, which she finds a bit too much, but she understands the reason behind it.
@nordanney I agree with that. Financing €700,000 (about $760,000) would really be a challenge. Even if my wife earned more now, @Schorsch_baut, we would then lose eligibility for the KFW funding, which is capped at a taxable income of €90,000 (about $98,000). That would increase the interest rate again. Even with full-time work at minimum wage, in tax class 5, we would only get about €400 (about $435) net more. That would make around €5,300 (about $5,750) per month, with a loan payment of approximately €1,950 (about $2,115). Even that probably wouldn’t be enough to manage such financing. This means either significantly increasing income and losing all subsidies or raising additional equity to keep the funding. Alternatively, building with QNG certification could increase the subsidy to €270,000 (about $293,000) instead of €170,000 (about $185,000), but that would also considerably complicate the construction project.
According to my calculations, we would need at least €7,000 (about $7,600) net per month to handle this project. Difficult situation.
According to my calculations, we would need at least €7,000 (about $7,600) net per month to handle this project. Difficult situation.