ᐅ How much does a semi-detached house cost? Is it much cheaper than a detached single-family home?
Created on: 5 Mar 2018 22:00
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mustafa08
Hello everyone, I’m Mustafa from Aalen (BW).
I have been allocated a plot of land by the city. It costs 215€ per square meter (sqm) with an area of 557 sqm (6000 sqft).
I’m considering building a semi-detached house with a friend.
Here is what we have in mind:
Solid construction
About 130-150 sqm (1400-1600 sqft) of living space per person, spread over two floors.
I want a basement, he probably does not.
Either a gable roof or a mono-pitched roof.
Around 64,000€ per person would be due for the land, including notary and taxes.
How much should we expect to spend per person overall? We actually don’t want to spend more than 350,000€ per person in total.
Is this realistic?
I would appreciate some feedback.
Best regards,
Mustafa
I have been allocated a plot of land by the city. It costs 215€ per square meter (sqm) with an area of 557 sqm (6000 sqft).
I’m considering building a semi-detached house with a friend.
Here is what we have in mind:
Solid construction
About 130-150 sqm (1400-1600 sqft) of living space per person, spread over two floors.
I want a basement, he probably does not.
Either a gable roof or a mono-pitched roof.
Around 64,000€ per person would be due for the land, including notary and taxes.
How much should we expect to spend per person overall? We actually don’t want to spend more than 350,000€ per person in total.
Is this realistic?
I would appreciate some feedback.
Best regards,
Mustafa
The conditions for Aalen clearly state: "Until the plot is developed with a move-in ready building, the buyer may not dispose of the property without the city’s consent."
This is linked to the obligation to complete a move-in ready construction within 3 years.
But hey, it’s not over yet. Maybe your friend will qualify without any issues.
This is linked to the obligation to complete a move-in ready construction within 3 years.
But hey, it’s not over yet. Maybe your friend will qualify without any issues.
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mustafa086 Mar 2018 12:19I live in Heubach, but it probably won’t be any different. Okay, I didn’t know that. My friend will try to get a financing confirmation by Friday.
He doesn’t live directly in Heubach with his wife, but she lived in Heubach for 20 years until about 4 years ago. Maybe we can make it work. That would be great. If not, I will definitely buy the plot myself. It has always been my dream to own a home.
About me:
Single,
I earn on average 2500€ (about 2700 USD), sometimes more (depending on shifts and weekend work). My mom still works too and would support me as well.
He doesn’t live directly in Heubach with his wife, but she lived in Heubach for 20 years until about 4 years ago. Maybe we can make it work. That would be great. If not, I will definitely buy the plot myself. It has always been my dream to own a home.
About me:
Single,
I earn on average 2500€ (about 2700 USD), sometimes more (depending on shifts and weekend work). My mom still works too and would support me as well.
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mustafa086 Mar 2018 13:16So, I visited the bank and I am definitely approved for a loan amount of 350k.
I have equity of 60-70k.
Would it be possible to build a prefab house (single-family home) within this budget? It’s possible that the city might not approve.
I have equity of 60-70k.
Would it be possible to build a prefab house (single-family home) within this budget? It’s possible that the city might not approve.
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Sondelgeher126 Mar 2018 13:21In our case, sharing like that wouldn’t be possible if you had received a discounted plot under the owner-occupied housing model. Here, the numerous applicants are filtered through a very lengthy points system, and it wouldn’t be fair if someone ranked 60th on the list suddenly got half a plot while someone ranked 15th still hasn’t received any plot at all.
On what basis were the plots allocated?
Also, here if you build a semi-detached house, you can rent out one half and live in the other yourself. However, building first and then immediately selling one half is not that easily allowed.
On what basis were the plots allocated?
Also, here if you build a semi-detached house, you can rent out one half and live in the other yourself. However, building first and then immediately selling one half is not that easily allowed.
mustafa08 schrieb:
So, I was at the bank and I will definitely get a loan of 350k.
Equity is available. 60-70k.
Would building a prefabricated house (single-family home) be possible within that budget? It's possible that the city might not approve.Then I’m keeping my fingers crossed that it’s as you say.The loan decision is made by the back office, not the person you spoke with. What interest rate fix period do you want and how high should the repayment rate be? So you want to take out a loan of 280k€?