ᐅ Evaluation of the KfW 60 House Contract: Loan Assessment for Home Purchase
Created on: 2 Jun 2009 10:46
C
Cmajere
Hello,
It looks like we will be building our dream home together with a developer. I would like to share some key points from the contract here and ask you to critically evaluate them based on your experience.
It will be a KfW 60 generational house (granny flat for parents) with 180 sqm (approximately 1,937 sq ft) of living space and about 300 sqm (approximately 3,229 sq ft) of land. Thermal insulation certificate from 2002 (is 2002 still acceptable? Does it qualify for NRW loans / subsidies?)
The house will be built without a basement; earthworks are included in the scope of work.
The foundation slab will be made of reinforced concrete, 15 cm (6 inches) thick according to structural engineering.
Construction will use either calcium silicate blocks (CSB) or Poroton bricks, 17.5 cm (7 inches) thick (non-load-bearing walls 11.5 cm (4.5 inches)), with the developer leaning more towards CSB (is that cheaper?)
The roof frame will be made of impregnated softwood, crafted by a carpenter according to DIN 68800 T3 (wood preservation standard).
The ground floor ceiling will be a prefabricated reinforced concrete slab, finished ready for painting. (Does that mean the joint grooves are already filled and smooth?)
The upper floor ceiling will be constructed with collar beams and have gypsum board cladding on the underside, ready for wallpaper. (Does this also mean it is fully joint-filled?)
The heating system will be a ground-source (brine/water) heat pump with a 150-liter (40 US gallons) hot water storage tank. (Is that sufficient for one family of three plus a couple of guests, so five users in total?)
Screed work: 9 cm (3.5 inches) insulation / foil with perimeter insulation strips / 6 cm (2.5 inches) heated screed with steel reinforcement. (Does this mean tiles can be laid directly on top?)
All masonry walls will receive a single layer of machine-applied gypsum plaster plus necessary corner protection beads to prepare for a coat of paint. (Does this mean the walls are ready for wallpaper, or is further finishing required?)
The exterior plaster will be an insulation plaster 12 cm (5 inches) thick with a white mineral top coat plus profiles according to the thermal insulation calculations.
Tiling will be done in the hallway, wardrobe, kitchen, dining area, WC, and bathroom using a thin-bed method. (What exactly is thin-bed tiling?)
Thank you very much in advance.
It looks like we will be building our dream home together with a developer. I would like to share some key points from the contract here and ask you to critically evaluate them based on your experience.
It will be a KfW 60 generational house (granny flat for parents) with 180 sqm (approximately 1,937 sq ft) of living space and about 300 sqm (approximately 3,229 sq ft) of land. Thermal insulation certificate from 2002 (is 2002 still acceptable? Does it qualify for NRW loans / subsidies?)
The house will be built without a basement; earthworks are included in the scope of work.
The foundation slab will be made of reinforced concrete, 15 cm (6 inches) thick according to structural engineering.
Construction will use either calcium silicate blocks (CSB) or Poroton bricks, 17.5 cm (7 inches) thick (non-load-bearing walls 11.5 cm (4.5 inches)), with the developer leaning more towards CSB (is that cheaper?)
The roof frame will be made of impregnated softwood, crafted by a carpenter according to DIN 68800 T3 (wood preservation standard).
The ground floor ceiling will be a prefabricated reinforced concrete slab, finished ready for painting. (Does that mean the joint grooves are already filled and smooth?)
The upper floor ceiling will be constructed with collar beams and have gypsum board cladding on the underside, ready for wallpaper. (Does this also mean it is fully joint-filled?)
The heating system will be a ground-source (brine/water) heat pump with a 150-liter (40 US gallons) hot water storage tank. (Is that sufficient for one family of three plus a couple of guests, so five users in total?)
Screed work: 9 cm (3.5 inches) insulation / foil with perimeter insulation strips / 6 cm (2.5 inches) heated screed with steel reinforcement. (Does this mean tiles can be laid directly on top?)
All masonry walls will receive a single layer of machine-applied gypsum plaster plus necessary corner protection beads to prepare for a coat of paint. (Does this mean the walls are ready for wallpaper, or is further finishing required?)
The exterior plaster will be an insulation plaster 12 cm (5 inches) thick with a white mineral top coat plus profiles according to the thermal insulation calculations.
Tiling will be done in the hallway, wardrobe, kitchen, dining area, WC, and bathroom using a thin-bed method. (What exactly is thin-bed tiling?)
Thank you very much in advance.
Hello,
thank you for the hint.
I also contacted NRW.Bank directly by phone because I had lost track of this.
The fact is that I am building an energy-saving house KfW 60, as stated in the building description, and I will receive a thermal insulation certificate according to the Energy Saving Ordinance 2002.
Now regarding the Energy Saving Ordinance 2007 and the newly introduced Efficiency House KfW 70.
This is actually worse than the KfW 60 house under the older regulations. It means that if I build a KfW 70 house according to the Energy Saving Ordinance 2007, I will not receive funding from NRW.Bank or KfW Bank.
However, if I build a KfW 60 house according to the Energy Saving Ordinance 2002, I will receive funding due to the overall construction quality and energy savings.
Sounds a bit crazy 😕 😱 but apparently that’s how it is.
I don’t blame the builder for the B25 or C25 issue; I myself often work with many templates from previous years—who wants to produce a new inspection report every year? 🙂 But I will bring it up with him, thanks for the tip.
Or did I misunderstand that on the phone? That a newer regulation is worse than one from 2002?
Regarding the domestic hot water tank, the size is definitely too small. I just calculated it and it seems a tank at least twice as large will be necessary.
Best regards
PS:
Thank you very much for your hints and critiques, I look forward to more.
thank you for the hint.
I also contacted NRW.Bank directly by phone because I had lost track of this.
The fact is that I am building an energy-saving house KfW 60, as stated in the building description, and I will receive a thermal insulation certificate according to the Energy Saving Ordinance 2002.
Now regarding the Energy Saving Ordinance 2007 and the newly introduced Efficiency House KfW 70.
This is actually worse than the KfW 60 house under the older regulations. It means that if I build a KfW 70 house according to the Energy Saving Ordinance 2007, I will not receive funding from NRW.Bank or KfW Bank.
However, if I build a KfW 60 house according to the Energy Saving Ordinance 2002, I will receive funding due to the overall construction quality and energy savings.
Sounds a bit crazy 😕 😱 but apparently that’s how it is.
I don’t blame the builder for the B25 or C25 issue; I myself often work with many templates from previous years—who wants to produce a new inspection report every year? 🙂 But I will bring it up with him, thanks for the tip.
Or did I misunderstand that on the phone? That a newer regulation is worse than one from 2002?
Regarding the domestic hot water tank, the size is definitely too small. I just calculated it and it seems a tank at least twice as large will be necessary.
Best regards
PS:
Thank you very much for your hints and critiques, I look forward to more.
So,
the time has come—we now have the final construction contract, including the detailed building description and the payment schedule.
This week, I visited my developer and we finalized the changes to the building specifications. We even went into quite some detail, which I was happy about. For example, we decided on a heat pump as the heating system and have also chosen the brand (Vaillant). Vaillant offers good products.
Monday will be busy: first, an appointment at the bank where their architect will review the plans and give approval. Then the financing will be signed, followed by signing the construction contract after the bank meeting.
I’m already a bit nervous and having trouble sleeping ^^
We finalized the financing terms as follows:
65,000 of personal funds
102,000 of promotional loan at 0.5% interest over 10 years (application pending)
150,000 from the house bank at 4.36% interest
I deliberately excluded the KfW loan with 4.2% interest because its approval comes with many conditions and the payment terms are somewhat outdated (quarterly).
Best regards 😱
PS:
We were convinced by the developer because we visited some of their reference projects, and the residents there kindly answered our questions. We even got to look inside one of the houses.
the time has come—we now have the final construction contract, including the detailed building description and the payment schedule.
This week, I visited my developer and we finalized the changes to the building specifications. We even went into quite some detail, which I was happy about. For example, we decided on a heat pump as the heating system and have also chosen the brand (Vaillant). Vaillant offers good products.
Monday will be busy: first, an appointment at the bank where their architect will review the plans and give approval. Then the financing will be signed, followed by signing the construction contract after the bank meeting.
I’m already a bit nervous and having trouble sleeping ^^
We finalized the financing terms as follows:
65,000 of personal funds
102,000 of promotional loan at 0.5% interest over 10 years (application pending)
150,000 from the house bank at 4.36% interest
I deliberately excluded the KfW loan with 4.2% interest because its approval comes with many conditions and the payment terms are somewhat outdated (quarterly).
Best regards 😱
PS:
We were convinced by the developer because we visited some of their reference projects, and the residents there kindly answered our questions. We even got to look inside one of the houses.
uiuiui:p,
Since last night, the building contract / construction description / payment schedule have been signed.
Now it’s getting serious. ^^
Does anyone know a good construction blog where I can report progress or even problems, preferably one that allows photo uploads?
Somehow I’m sleeping more peacefully after signing than before 😀
Since last night, the building contract / construction description / payment schedule have been signed.
Now it’s getting serious. ^^
Does anyone know a good construction blog where I can report progress or even problems, preferably one that allows photo uploads?
Somehow I’m sleeping more peacefully after signing than before 😀
You’ll have to do it yourself.
A blog is a platform where you report your own experiences—like our construction blog. Otherwise, you’ll be better off using the forum.
If you need a simple blogging system where you can post without much effort, then use WordPress or Blogger.com.
There are certainly other services as well. Many photos can be managed well through Flickr.
We use the free Joomla CMS for our blog. However, it takes a bit more effort to get it running smoothly.
I would appreciate it if you create something like this and stick with it until the end. It is also an additional commitment. Unfortunately, many construction blogs die out during the shell construction phase.
A blog is a platform where you report your own experiences—like our construction blog. Otherwise, you’ll be better off using the forum.
If you need a simple blogging system where you can post without much effort, then use WordPress or Blogger.com.
There are certainly other services as well. Many photos can be managed well through Flickr.
We use the free Joomla CMS for our blog. However, it takes a bit more effort to get it running smoothly.
I would appreciate it if you create something like this and stick with it until the end. It is also an additional commitment. Unfortunately, many construction blogs die out during the shell construction phase.