ᐅ Construction of a 144 sqm bungalow in Fichtenwalde (near Potsdam)
Created on: 16 May 2021 18:56
A
Acof1978
Then I would also like to introduce our building project here and keep you updated.
First, a brief introduction about us. He (42.5 years; controller in healthcare), she (38.5 years; full-time teacher), child (8.75 years; fully dependent). Our household net income is currently about €6,400 (approximately $6,800) plus performance bonuses, 13th-month salary, overtime, etc. We own a 1,462 sqm (15,735 sq ft) plot of land in Fichtenwalde. The remaining debt on the land is €37,000 (about $39,000). According to official land value guidelines, the land is valued at €146,200 (about $156,000) (€100 / sqm). The market price is around €400,000 to €600,000 (recent sale prices). We submitted the building permit application including the land conversion at the end of December. We expect approval by mid to late July.
The construction company is KB Brandis from Jüterbog. External site supervision will be handled by Bauherrenhilfe with 13 appointments.
Now about the house. It will be a 144 sqm (1,550 sq ft) bungalow plus a 12 sqm (130 sq ft) covered terrace with the following additions:
- Ceiling height 3.00 m (9.8 ft)
- Electric roller shutters (including smart home integration)
- Double-sided laminated windows (wood-colored; RC3 security rating)
- Brine-to-water heat pump with ground collectors due to water protection area (Bosch Compress 7800i LW)
- Hydraulic balancing of the underfloor heating
- Controlled residential ventilation with heat recovery (Bosch)
- Motion detectors from a security company
- 13 kWp photovoltaic system, including battery preparation
- 10 m³ (2,650 gal) cistern for rainwater use
- Doorbell with video function
- Wallbox preparation for electric vehicle charging
- Exterior lighting
Floor plan attached.
We have not yet finalized financing (although discussions have taken place). So far, we have invested up to €30,000 (approximately $32,000) from our own savings during the planning phase. This is almost all of our equity. However, we continue to save about €2,750 (approximately $2,920) per month. The monthly mortgage payment is expected to be around €1,650 (about $1,750) plus additional costs of approximately €200-250 (about $210-265) (taking into account the photovoltaic system). This means when we move into the house, we will still have savings of at least €1,500 (about $1,590) per month.
The construction contract will be signed within the next few weeks. The prices (recently discussed with the company) correspond to the offer and commitment as of September 2020.
The price per square meter of the house (according to the latest offer and full specification) will be €2,700 (about $2,870). This includes everything, such as painting, flooring, etc. The overall costs are structured as follows:
House: €378,000 (about $402,000)
Land conversion including reclassification: €25,000 (about $26,600)
Additional building costs: €40,000 (about $42,500)
Outdoor facilities: €25,000 (about $26,600)
Total financing volume: €468,000 (about $498,000)
First, a brief introduction about us. He (42.5 years; controller in healthcare), she (38.5 years; full-time teacher), child (8.75 years; fully dependent). Our household net income is currently about €6,400 (approximately $6,800) plus performance bonuses, 13th-month salary, overtime, etc. We own a 1,462 sqm (15,735 sq ft) plot of land in Fichtenwalde. The remaining debt on the land is €37,000 (about $39,000). According to official land value guidelines, the land is valued at €146,200 (about $156,000) (€100 / sqm). The market price is around €400,000 to €600,000 (recent sale prices). We submitted the building permit application including the land conversion at the end of December. We expect approval by mid to late July.
The construction company is KB Brandis from Jüterbog. External site supervision will be handled by Bauherrenhilfe with 13 appointments.
Now about the house. It will be a 144 sqm (1,550 sq ft) bungalow plus a 12 sqm (130 sq ft) covered terrace with the following additions:
- Ceiling height 3.00 m (9.8 ft)
- Electric roller shutters (including smart home integration)
- Double-sided laminated windows (wood-colored; RC3 security rating)
- Brine-to-water heat pump with ground collectors due to water protection area (Bosch Compress 7800i LW)
- Hydraulic balancing of the underfloor heating
- Controlled residential ventilation with heat recovery (Bosch)
- Motion detectors from a security company
- 13 kWp photovoltaic system, including battery preparation
- 10 m³ (2,650 gal) cistern for rainwater use
- Doorbell with video function
- Wallbox preparation for electric vehicle charging
- Exterior lighting
Floor plan attached.
We have not yet finalized financing (although discussions have taken place). So far, we have invested up to €30,000 (approximately $32,000) from our own savings during the planning phase. This is almost all of our equity. However, we continue to save about €2,750 (approximately $2,920) per month. The monthly mortgage payment is expected to be around €1,650 (about $1,750) plus additional costs of approximately €200-250 (about $210-265) (taking into account the photovoltaic system). This means when we move into the house, we will still have savings of at least €1,500 (about $1,590) per month.
The construction contract will be signed within the next few weeks. The prices (recently discussed with the company) correspond to the offer and commitment as of September 2020.
The price per square meter of the house (according to the latest offer and full specification) will be €2,700 (about $2,870). This includes everything, such as painting, flooring, etc. The overall costs are structured as follows:
House: €378,000 (about $402,000)
Land conversion including reclassification: €25,000 (about $26,600)
Additional building costs: €40,000 (about $42,500)
Outdoor facilities: €25,000 (about $26,600)
Total financing volume: €468,000 (about $498,000)
Wiesel29 schrieb:
There must be a reason why almost everyone has the VAT refunded 😉. You also have business expenses that you can claim. Own use can be declared at a flat rate of 20 cents.
If it were a long-term loss for private individuals, it would have been widely known by now, and hardly anyone would register as a business anymore.And what about the issue of forced hobby activity?
Acof1978 schrieb:
And what about the issue of presumed non-commercial activity?It’s not a problem. You feed electricity into the grid and get compensated for it. So, you have a consistent income stream and thus an intention to generate profits. Overall, your result will be close to break-even or a small taxable loss or gain.
Presumed non-commercial activity typically applies to activities like photography. In that case, equipment worth several thousand euros is purchased and claimed as expenses, but the person never seriously engages in the activity because it’s really just a hobby they try to subsidize.
Wiesel29 schrieb:
That’s not a problem. You feed electricity into the grid and get compensated for it. So there is a continuous income, which shows an intention to generate earnings. In the end, you break even or have a small tax loss or profit.
A typical example of a hobby activity is something like photography. Equipment worth several thousand euros is purchased and claimed, but you never seriously pursue it as a business because it is really just a hobby you try to subsidize. Does this mean you have to register a business with the tax authorities before buying the photovoltaic system?
Acof1978 schrieb:
Does that mean you have to register a business with the tax office before buying the photovoltaic system? Yes, you can do that, but you can also register shortly afterwards. It is generally better than submitting everything only with your tax return. This way, the processing usually goes much faster. You should also be aware that in the year you start operating the system and the following year, you must submit monthly VAT returns. After that, due to the amount of income, usually only an annual VAT return is required.
A question regarding the floor plan. We are considering, if it is still possible, to remove the terrace and instead enlarge the living room. As mentioned, we do not yet know if this will be feasible. This would give us about 11 square meters (118 square feet) of extra space without significant additional costs, since the roof and foundation slab are already planned.
What do you think? Would the building permit / planning permission need to be updated for this? Would a simple amendment be enough, or would we have to start the application process from the beginning?
What do you think? Would the building permit / planning permission need to be updated for this? Would a simple amendment be enough, or would we have to start the application process from the beginning?
I think it’s good that you are focusing on the floor plan.
The extra space in the living room is a benefit.
So far, nothing has been built; it’s all just on paper.
To find out how the building permit / planning permission is affected, your general contractor or the building authority can inform you.
The extra space in the living room is a benefit.
So far, nothing has been built; it’s all just on paper.
To find out how the building permit / planning permission is affected, your general contractor or the building authority can inform you.
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