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?
I’ll leave the €60k for the basement aside for now. But without information about your house, it’s impossible to evaluate your €205k.
If you estimate €1900-2000 per square meter (approximately $210-220 per square foot) of living space, like most realistic planners do, you can expect to get exactly 102-108 square meters (1100-1160 square feet) for that amount.
Has the bank confirmed that you can allocate €25k for the kitchen and furniture? Or is that just your wish? Furniture and kitchens do not increase the property value and can actually negatively affect your loan-to-value ratio.
The land costs look reasonable. When will you receive the €3000 grant? Usually, it is paid out after moving in, if at all. Here, we also had such a grant, relied on it, and ended up not receiving it.
If you estimate €1900-2000 per square meter (approximately $210-220 per square foot) of living space, like most realistic planners do, you can expect to get exactly 102-108 square meters (1100-1160 square feet) for that amount.
Has the bank confirmed that you can allocate €25k for the kitchen and furniture? Or is that just your wish? Furniture and kitchens do not increase the property value and can actually negatively affect your loan-to-value ratio.
The land costs look reasonable. When will you receive the €3000 grant? Usually, it is paid out after moving in, if at all. Here, we also had such a grant, relied on it, and ended up not receiving it.
Zaba12 schrieb:
I’ll leave the 60,000€ for the basement as is. But without your house details, your 205,000€ can’t really be assessed.
If you calculate with 1,900–2,000€ per square meter of living space, as almost everyone who approaches this realistically does, then you can expect exactly 102–108 square meters for that.
Has the bank confirmed that you can allocate 25,000€ for kitchen and furniture? Or is that just your wish? Furniture/kitchen are not value-increasing and can actually only harm your loan-to-value ratio.Yes, that should be fine.
However, I’m interested in the additional purchase costs.
Are these different from the additional costs when buying land?
t.hilo schrieb:
What would the additional purchase costs I listed be in this case?
In my list above, I already included notary fees.
Are the other purchase-related costs I listed then basically duplicated, or are those additional costs separate items?
Huh?
t.hilo schrieb:
What do the additional purchase costs include?Fees for the notary and land registry, as well as the property transfer tax.
ypg schrieb:
Fees for notary and land registry, as well as transfer tax.When purchasing the plot, I already included notary (and land registry) fees at 2% and the property transfer tax at 5%.
Will these costs apply again during the house construction? Certainly not the property transfer tax. But what about the notary and land registry fees?
Should I then budget around €10,000? I would expect a lower amount to be sufficient, right?
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