Hello, we are M29 and F32 and we want to build a house. We would like to get a few more opinions on our plans.
It is about a plot of land and a town villa with 140sqm (1507 sq ft). Garage, underfloor heating, central ventilation, electric roller shutters. Otherwise, relatively standard.
We are both permanently employed, not married, and do not have children yet. Children and marriage are planned. She plans to take 2 years of parental leave if possible. Afterwards, she wants to work part-time at 40-60%.
Income
He: €2,600 (without 13th/14th salary and possible overtime)
She: €1,850 (without 13th salary)
Planned equity: €60,000 up to max. €80,000 cash.
The bank (savings bank) gave us a sample calculation for orientation.
We have no major fixed expenses, only standard ones like phone, internet, insurances.
Total income: €4,450
- Living expenses: €1,500
- Costs for 1 car: €200
Surplus: €2,750
The bank calculated additional costs as 140sqm (1507 sq ft) x €2.5 = €350 for additional expenses, resulting in a possible cold burden (monthly mortgage plus costs) of €1,200.
I will leave it at that and would like to hear your opinion.
There is also an “offer” from a developer:
Plot 850sqm (9149 sq ft): €65,000 including 7% property transfer tax and notary fees
Construction costs 140sqm (1507 sq ft) x €1,400: €196,000
Construction extras (ventilation, etc.): €30,000
Double garage: €27,000
Additional construction costs: €60,000
Total approx.: €378,000
Painting and floor installation work would still be missing.
Is this realistic overall?
It is about a plot of land and a town villa with 140sqm (1507 sq ft). Garage, underfloor heating, central ventilation, electric roller shutters. Otherwise, relatively standard.
We are both permanently employed, not married, and do not have children yet. Children and marriage are planned. She plans to take 2 years of parental leave if possible. Afterwards, she wants to work part-time at 40-60%.
Income
He: €2,600 (without 13th/14th salary and possible overtime)
She: €1,850 (without 13th salary)
Planned equity: €60,000 up to max. €80,000 cash.
The bank (savings bank) gave us a sample calculation for orientation.
We have no major fixed expenses, only standard ones like phone, internet, insurances.
Total income: €4,450
- Living expenses: €1,500
- Costs for 1 car: €200
Surplus: €2,750
The bank calculated additional costs as 140sqm (1507 sq ft) x €2.5 = €350 for additional expenses, resulting in a possible cold burden (monthly mortgage plus costs) of €1,200.
I will leave it at that and would like to hear your opinion.
There is also an “offer” from a developer:
Plot 850sqm (9149 sq ft): €65,000 including 7% property transfer tax and notary fees
Construction costs 140sqm (1507 sq ft) x €1,400: €196,000
Construction extras (ventilation, etc.): €30,000
Double garage: €27,000
Additional construction costs: €60,000
Total approx.: €378,000
Painting and floor installation work would still be missing.
Is this realistic overall?
I simply categorized all of that under incidental construction costs, which was my mistake.
Electricity, gas, etc. were estimated at €350. The connection fees, however, are €6,000.
It is also planned that most of the work will be done as DIY.
Outdoor areas (paving, garden, hedge) €10,000
Upgrades (electrical, flooring, etc.) €10,000
Furniture, lighting €8,000
Electricity, gas, etc. were estimated at €350. The connection fees, however, are €6,000.
It is also planned that most of the work will be done as DIY.
Outdoor areas (paving, garden, hedge) €10,000
Upgrades (electrical, flooring, etc.) €10,000
Furniture, lighting €8,000
You have €3000 included for groundwork. However, that is the best-case scenario; some people with slopes and challenging conditions end up with a zero added to that amount (though that is unlikely in this case).
However, €1000–1500 is missing for a soil survey, possibly including a chemical soil analysis for the landfill.
However, €1000–1500 is missing for a soil survey, possibly including a chemical soil analysis for the landfill.
M
Marvinius11 Jun 2017 11:38If I base this on our "turnkey" price (yours is 189,000), then we have the following additions: 1) Upcharges: about 12%, 2) Civil engineering costs, about 12% (increased due to basement and sloping site), 3) Painting and flooring: 12%, 4) Exterior landscaping: 10%, kitchen, lighting, and furniture: 10%, 5) Utility connections, fees, taxes, and inspections: 8%.
M
Marvinius11 Jun 2017 11:40So overall, 64% higher costs
M
Marvinius11 Jun 2017 11:42You would need a budget of nearly 300,000 euros plus the land. However, you would be on the safe side since you are building without a basement.
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