ᐅ Building a House in Baden-Württemberg – Should You Consult a Building Designer or the Bank First?
Created on: 20 Dec 2017 12:03
T
t.hilo
Hello community,
My family and I (2 adults, 1 child (2 years)) are planning to purchase a plot of land in our hometown in Baden-Württemberg and then build a single-family house on it.
A new residential area was recently developed in our town, and we have applied for one of the building plots there.
We have been thinking for a long time about how we want our home to look and have already done a lot of reading, writing, and research on the subject.
Plot details:
House preferences:
Should we first go to a builder/prefabricated house company/architect to consolidate our ideas and turn them into a feasible project with an estimated cost?
Or should we first speak to a (home) bank in an initial consultation to find out what would generally fit within our financial framework?
How did you approach this? What do you think makes more sense?
My family and I (2 adults, 1 child (2 years)) are planning to purchase a plot of land in our hometown in Baden-Württemberg and then build a single-family house on it.
A new residential area was recently developed in our town, and we have applied for one of the building plots there.
We have been thinking for a long time about how we want our home to look and have already done a lot of reading, writing, and research on the subject.
Plot details:
- Plot size approximately 500 m² (5,400 sq ft)
House preferences:
- Single-family house (detached)
- Living space on the ground floor possible
- Upper floor separable as a separate apartment for later use (either for our child or for renting out)
- Basement
- Double/large garage
Should we first go to a builder/prefabricated house company/architect to consolidate our ideas and turn them into a feasible project with an estimated cost?
Or should we first speak to a (home) bank in an initial consultation to find out what would generally fit within our financial framework?
How did you approach this? What do you think makes more sense?
First, do both:
Go to a prefab home supplier and choose a catalog home that closely matches your preferences. Have them provide you with a quote, and also get quotes from two builders specializing in solid construction (i.e., how much it would cost to "rebuild" this house with the same specifications). Using the average and maximum values from these three quotes for a house of this approximate size and features, you will have a concrete financing estimate. When selecting the prefab supplier, choose one who typically serves clients with incomes slightly higher than yours (to allow for contingencies—meaning their higher price level includes a buffer for unexpected costs). This way, you know the budget range you’ll be discussing with your lender.
Plan your "real" house afterward, taking into account the response to your financing request. For financing purposes, only the overall budget matters, which you can determine with the help of this estimate. You might be surprised how long we spend here in the forum discussing the best possible door for your walk-in closet—that’s not the kind of waiting time you want before your meeting with the bank.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
Go to a prefab home supplier and choose a catalog home that closely matches your preferences. Have them provide you with a quote, and also get quotes from two builders specializing in solid construction (i.e., how much it would cost to "rebuild" this house with the same specifications). Using the average and maximum values from these three quotes for a house of this approximate size and features, you will have a concrete financing estimate. When selecting the prefab supplier, choose one who typically serves clients with incomes slightly higher than yours (to allow for contingencies—meaning their higher price level includes a buffer for unexpected costs). This way, you know the budget range you’ll be discussing with your lender.
Plan your "real" house afterward, taking into account the response to your financing request. For financing purposes, only the overall budget matters, which you can determine with the help of this estimate. You might be surprised how long we spend here in the forum discussing the best possible door for your walk-in closet—that’s not the kind of waiting time you want before your meeting with the bank.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
B
baumann4220 Dec 2017 14:31First, determine your financial framework, then research how house prices are in the local area or where you plan to build, and look at houses that fit within your budget. After that, consult with the planner.
Thank you for the feedback so far. We hope to receive confirmation this year on whether we will be allocated a plot or not.
After that, I will approach my house bank, where I also have two building savings contracts that I want to include in the financing, to establish a general framework for the funding.
I asked the question because I have concerns regarding statements like “If you don’t know exactly how much money you need, we don’t need to discuss financing here” from the bank, and “If you don’t know your financial scope, we don’t need to start planning” from the builders.
After that, I will approach my house bank, where I also have two building savings contracts that I want to include in the financing, to establish a general framework for the funding.
I asked the question because I have concerns regarding statements like “If you don’t know exactly how much money you need, we don’t need to discuss financing here” from the bank, and “If you don’t know your financial scope, we don’t need to start planning” from the builders.