ᐅ Construction Project Feasible or Unrealistic, Budget 400,000 Euros

Like many here, I have the desire to own a small house.

I have now found a plot of land for 160,000 euros with 600 sqm (6000 sq ft) (not yet purchased). This is about 270 euros per sqm (25 dollars per sq ft), which is roughly 50 euros above the market value for our region. However, calling it a “market” would be an exaggeration since there is hardly anything available. A few sellers are even offering their plots for 350 euros per sqm (32 dollars per sq ft). The cheapest new house for sale in the area costs 420,000 euros (about $460,000) (120 sqm (1300 sq ft) house on a 240 sqm (2600 sq ft) plot). New condominiums with 3 rooms range from 270,000 to 360,000 euros ($300,000 to $390,000).

My wish:
To build a small single-family house without a basement, around 100 sqm (1076 sq ft), completely finished for 240,000 euros (about $260,000).
Do you think this is realistic?

I consider 100 sqm (1,076 sq ft) to be a bit tight. Unlike an apartment with 100 sqm (1,076 sq ft), which usually also includes a basement, a room for technical equipment on the ground floor needs to be planned as well.

Bauanfänger36 schrieb:

I have now found a plot of land with 600 sqm (6,458 sq ft) for 160,000 euros (not purchased yet), ...

On top of the 160,000 euros, there are more than about 5% additional costs for notary and taxes, leaving only around 232,000 euros for the house budget....

The budget seems to work out... but 100 sqm (1,076 sq ft)? That leaves hardly 70 to 80 sqm (750 to 860 sq ft) of living space. Why would someone want to build a whole (expensive!) house for that? Potential resale value also looks poor...

Why so small? What are your plans for your family?

Having 100 square meters (1,076 square feet) and later needing to move because there are 5 children and the house is too small can be difficult.

So if you want to own a house at a young age, I recommend starting at 140 square meters (1,507 square feet) or more.

We have 2 children and a semi-detached house with only 115 square meters (1,238 square feet). We manage well and are happy.

Either you are still at the very beginning of all considerations regarding budget, house construction including financing, or you actually only need around 90-85 m² (970-915 sq ft) of living space because there are just two of you.

Just roughly estimated,

- €160,000 (you probably can’t influence the land price, I understand)
- €30,000 for additional construction costs (if the land is from the municipality; otherwise, more)
- €20,000 for exterior work (minimum)

That leaves €190,000 for the house. In the past year, I haven’t seen anyone mention such a figure (neither planned nor realized) in this forum. It might be possible with a very significant amount of self-contracted work.

Add €50,000 to €100,000 to that, and you might avoid needing additional financing.