Hello everyone!
We – that’s me, 25 years old, and my better half, also 25 – are facing the challenge of building a house.
The topic of finding the “right plot of land” was the first thing we wanted to tackle, and thanks to available options within the family circle, we have already taken care of that.
Now the focus is shifting to the actual “building” itself, and I’m starting to feel a bit overwhelmed.
One might find it funny since I work as a project manager in the family-owned road construction company – but when it comes to “building a house,” well... our expertise ends at the driveway :-)
Before we get in touch with architects or construction companies, I’d like to define the financial framework. First, I want to know what we can afford before I start making plans that might be beyond our budget.
We have scheduled an appointment with our joint bank to discuss this.
Ahead of that meeting, I would like to gather some opinions from experienced home builders – that’s you – to get a realistic idea of the total costs involved.
A quick overview of our situation:
Me, 25 years old:
My partner, 25 years old:
So, our combined net household income is €9,900 per month (approximately $10,700).
After compiling a typical household budget for the past 12 months, we currently have about €5,500 (approximately $5,900) left at the end of each month.
From October onwards, her salary will also come in, expected to be around €2,500 net per month (approximately $2,700).
My income is fairly secure because it’s from our family business – with the usual uncertainty that any company has.
Her position offers the prospect of a civil servant status (tenure).
What we want to build:
What we have:
We do not want to invest any equity beyond that.
What I am willing to spend:
I had a limit of €500,000 (approximately $540,000) in mind.
I’m happy to stay below that if possible, but I can also consider going over if necessary.
However, I have no real point of reference regarding what financial resources we should realistically expect to need here.
I would be grateful to hear in advance:
Many thanks in advance!
We – that’s me, 25 years old, and my better half, also 25 – are facing the challenge of building a house.
The topic of finding the “right plot of land” was the first thing we wanted to tackle, and thanks to available options within the family circle, we have already taken care of that.
Now the focus is shifting to the actual “building” itself, and I’m starting to feel a bit overwhelmed.
One might find it funny since I work as a project manager in the family-owned road construction company – but when it comes to “building a house,” well... our expertise ends at the driveway :-)
Before we get in touch with architects or construction companies, I’d like to define the financial framework. First, I want to know what we can afford before I start making plans that might be beyond our budget.
We have scheduled an appointment with our joint bank to discuss this.
Ahead of that meeting, I would like to gather some opinions from experienced home builders – that’s you – to get a realistic idea of the total costs involved.
A quick overview of our situation:
Me, 25 years old:
- Project manager
- €3,900 net per month (approximately $4,200) + profit sharing
My partner, 25 years old:
- Still studying in her final semester
- Owns two multi-family houses in the Alpine foothills, generating €9,000 net income per month (approximately $9,700)
- Minus €3,000 financing payments per month for ongoing renovation loans on the rental properties, resulting in a total income of €6,000 per month (approximately $6,500)
So, our combined net household income is €9,900 per month (approximately $10,700).
After compiling a typical household budget for the past 12 months, we currently have about €5,500 (approximately $5,900) left at the end of each month.
From October onwards, her salary will also come in, expected to be around €2,500 net per month (approximately $2,700).
My income is fairly secure because it’s from our family business – with the usual uncertainty that any company has.
Her position offers the prospect of a civil servant status (tenure).
What we want to build:
- Two-story house – probably with a basement
- Approximately 140m2 (1,507 sq ft)
- Brick veneer exterior
- Double garage
- City villa style
- Smart home features according to current standards
What we have:
- 1,100m2 (11,840 sq ft) fully serviced plot of land in beautiful Lower Bavaria
- Equipment and personnel to carry out all earthworks ourselves at no additional cost
We do not want to invest any equity beyond that.
What I am willing to spend:
I had a limit of €500,000 (approximately $540,000) in mind.
I’m happy to stay below that if possible, but I can also consider going over if necessary.
However, I have no real point of reference regarding what financial resources we should realistically expect to need here.
I would be grateful to hear in advance:
- How much would our planned home cost / what is a reasonable cost range?
- Is our budget sufficient?
- Where should we start – visiting model homes or going directly to an architect?
Many thanks in advance!
Lunestros schrieb:
- So, in the 250 m2 (2700 sq ft), should I open a museum for "unused, beautiful rooms"?
Over 160 m2 (1700 sq ft) is definitely open for discussion – but anything beyond that seems a bit "too much" to me.I like that attitude, but it falls well short of what most people expect. Average earners here usually aim for 160 to 180 m2 (1700 to 1900 sq ft).Snowy36 schrieb:
140 m2 (1500 sq ft) is too small … you earn well and are so young, in a few years you will realize it’s too cramped …Especially with an above-average income, I wouldn’t worry much about having to build again around the time "Child I" starts school and "Child II" is already present. Expecting "Child II" is somewhat different—it’s less about money and more about stress levels, so most prefer not to build again.In the original poster’s situation, I’d also look for something around 160 m2 (1700 sq ft) and then upgrade later. In your mid-twenties, you’re still young even ten years from now and can take on the adventure again. I think that’s better than carrying around unused rooms. 160 m2 (including technical and storage rooms) isn’t immediately tight even with a first child. Living as a couple in a castle wouldn’t even occur to me.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
L
Lunestros2 May 2019 14:52We have made progress:
We discussed a loan amount of €700,000 with our bank.
This comes with a monthly payment of €2,100 (2% repayment) at a fixed interest rate for 20 years – which suits us very well.
As soon as we find the right architect or construction company, we can start quickly :-)
If anyone has recommendations for providers in the Regensburg/Kelheim area
🙂
We discussed a loan amount of €700,000 with our bank.
This comes with a monthly payment of €2,100 (2% repayment) at a fixed interest rate for 20 years – which suits us very well.
As soon as we find the right architect or construction company, we can start quickly :-)
If anyone has recommendations for providers in the Regensburg/Kelheim area
🙂
