ᐅ Construction Project: New Build – Budget Exceeded – Any Experiences?
Created on: 12 Sep 2018 21:25
A
Anne1983
Hello everyone, my husband and I are planning a new build. The plot is reserved, 670 sqm (7,210 sq ft), and including site development and notary fees, the cost is almost €180,000 (approx. $195,000) (Bavaria).
An architect (a friend) designed a 1.5-story house with 165 sqm (1,775 sq ft), a partial basement, and a double garage. The estimated value is €310,000 (approx. $335,000) plus landscaping.
Well, we have now received two turnkey offers for a brick-built house including landscaping.
€505,000 (approx. $545,000) and €560,000 (approx. $605,000)!!!!
We expected that the architect’s estimate might not be exact, but where does this huge price difference come from?!
We are now well above our budget. After all, we still have to buy the kitchen, furniture, and so on.
We are considering reducing the size to 145 sqm (1,560 sq ft) or possibly managing all the contracts ourselves.
What are your experiences? Do you have any tips on how we can get this situation under control?
An architect (a friend) designed a 1.5-story house with 165 sqm (1,775 sq ft), a partial basement, and a double garage. The estimated value is €310,000 (approx. $335,000) plus landscaping.
Well, we have now received two turnkey offers for a brick-built house including landscaping.
€505,000 (approx. $545,000) and €560,000 (approx. $605,000)!!!!
We expected that the architect’s estimate might not be exact, but where does this huge price difference come from?!
We are now well above our budget. After all, we still have to buy the kitchen, furniture, and so on.
We are considering reducing the size to 145 sqm (1,560 sq ft) or possibly managing all the contracts ourselves.
What are your experiences? Do you have any tips on how we can get this situation under control?
H
hampshire12 Sep 2018 22:46We experienced the same: the architect made a significant miscalculation. It is possible that the strong demand in the construction industry is also driving price adjustments. From an economic standpoint, this makes sense.
We have now increased the budget and construction is starting.
We have now increased the budget and construction is starting.
H
hampshire13 Sep 2018 08:16HilfeHilfe schrieb:
HarakiriWhat is this assessment based on?H
HilfeHilfe13 Sep 2018 09:49hampshire schrieb:
Ü
What is this assessment based on?That you give the planning to an ex-boyfriend who either designed his last house in 2005 or has just graduated from university.Anne1983 schrieb:
Estimated value €310,000Wind direction multiplied by outside temperature or cost estimate according to DIN 276?
Anne1983 schrieb:
Where does the huge price difference come from?! Completely unrealistic cost estimate, not reflecting the current market. At the moment, there is simply no market equilibrium; especially incentives like the child benefit for home construction ("Baukindergeld") have a direct impact on builders’ price setting.
Three years ago here in Bavaria, we paid roughly €40,000 (approximately $44,000) more for a somewhat smaller house. This included a basement and a double prefabricated garage but excluded additional construction-related costs.
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