ᐅ Planning to build a house: what budget should you expect nowadays?
Created on: 1 Jan 2023 16:22
R
rulor1992
Hello everyone,
I would like to get a rough estimate in advance of what we might expect for a future house.
In our former rural hometown, building plots will soon be developed. Due to the current situation, almost all previously reserved plots have become available again.
We have an appointment soon to discuss the building plots. They are all between 500-650 sqm (5382-6997 sq ft) in size and are supposed to cost between €160-180 (per sqm), which is quite high for this location.
Is it still possible to negotiate prices, or are the local authorities strict? We are considering buying two plots to reach about 1000 sqm (10,764 sq ft) in total.
The plot would be purchased without taking out a loan.
What are the current prices for a single-family house with two full floors and a basement in a higher-quality finish?
Since I am currently self-employed, my income fluctuates significantly. The business is planned to be moved into the basement. Of course, this still needs to be approved by the local authority to see if it is allowed.
It is an online shop with current pre-tax profits of €400,000 annually.
Maybe you can give me a brief outlook on the upcoming project.
Thank you
I would like to get a rough estimate in advance of what we might expect for a future house.
In our former rural hometown, building plots will soon be developed. Due to the current situation, almost all previously reserved plots have become available again.
We have an appointment soon to discuss the building plots. They are all between 500-650 sqm (5382-6997 sq ft) in size and are supposed to cost between €160-180 (per sqm), which is quite high for this location.
Is it still possible to negotiate prices, or are the local authorities strict? We are considering buying two plots to reach about 1000 sqm (10,764 sq ft) in total.
The plot would be purchased without taking out a loan.
What are the current prices for a single-family house with two full floors and a basement in a higher-quality finish?
Since I am currently self-employed, my income fluctuates significantly. The business is planned to be moved into the basement. Of course, this still needs to be approved by the local authority to see if it is allowed.
It is an online shop with current pre-tax profits of €400,000 annually.
Maybe you can give me a brief outlook on the upcoming project.
Thank you
R
rulor19921 Jan 2023 18:57Yosan schrieb:
Ah, Rabenau... I'm surprised there are still plots available at that price. I would have expected more.
How developed is the building area? It doesn’t look like construction has started yet?!The building area is not yet developed.
I don’t know when it will be developed.
I wouldn’t say Rabenau is the prime location for building plots.
The nearest town is 20km (12 miles) away.
rulor1992 schrieb:
The building area is not yet developed.
I don’t know when it will be developed.
Rabenau isn’t exactly prime real estate when it comes to building plots, I would say.
The next town is 20m (12 miles) away. I know where Rabenau is 😉
It will still take some time before houses can be built there. Keep that in mind when planning your budget. Also, watch the interest rates carefully so you can act at the right time once the building area is sufficiently developed.
W
WilderSueden1 Jan 2023 21:17A crucial point in any cost estimation is the precise definition of "upscale standard." You can quickly end up with much higher costs than planned. €3000 per square meter (approximately $300 per square foot) is more or less the minimum, even in Saxony; €3500 per square meter (about $325 per square foot) is likely, and €4000 (around $370 per square foot) is possible.
WilderSueden schrieb:
The key issue with any cost estimate is the precise definition of "upscale standard." You can quickly end up spending much more than planned; 3000 €/m² (280 USD/ft²) is rather the minimum here, even in Saxony. 3500 €/m² (325 USD/ft²) is more likely, and 4000 €/m² (372 USD/ft²) is possible 😉 Apparently, the construction is planned for central Hesse, not Saxony.