ᐅ How much house can I get for my budget?

Created on: 31 Mar 2015 17:04
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MichiQM
Hi,

I have a budget of about 170,000 euros for a fully finished, move-in-ready house. I can install the electrical wiring and plumbing myself, and I also plan to do the drywall and tile or flooring installation on my own.

My uncle can install the windows for me, if that would significantly reduce the price.

The plot of land is already owned and does not need to be considered.

What is important to me:

Ground floor:

Open-plan living, dining, and kitchen area (with a corner layout)
Separate entrance hall (completely enclosed with a small entry area including a chest of drawers; staircase located within the entrance hall to avoid cold air spreading downstairs or upstairs)
Guest toilet with shower
Study (which could later be converted into a bedroom if needed, for example, when it becomes difficult to use the stairs in old age)
Utility room or storage room

Upper floor:

2 children's bedrooms
Master bedroom with an adjacent walk-in closet area or wardrobe niche
Bathroom with a shower, bathtub, and double sink

The house should have a full basement.

Basement:

Heating room
Laundry room (preferably adjacent to the heating room)
Storage room
An empty room for a potential workshop or hobby room

Would I be better off with a prefabricated timber frame house, or can I afford a solid masonry house?

My uncle will also provide a custom-made kitchen for material costs only. I would only need to buy the appliances.

I just want a solid house with decent features, nothing like a luxury villa.

Thanks for your help.

Regards,
Michael
W
Wastl
2 Apr 2015 08:51
I occasionally watch shows like "House Rescue," "My Nightmare House," and similar. Your story would fit right in there:
Getting blinded by internet prices for houses, ignoring costs for site development, basements, or own labor, and ending up asking for sympathy...

Most people want the best quality at the lowest possible price—they also try to build their dream home economically. When someone says here: a basement costs between 30,000 and 50,000 euros, there’s a good reason for it. Our small basement alone cost more than 40,000 euros. The crawl space two houses down was much cheaper...

Either you have to adjust your budget or your expectations (yes, things were cheaper 20 years ago), otherwise, unfortunately, you won’t get very far.
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MichiQM
4 Apr 2015 12:22
My "neighbors" about 10 meters (33 feet) away paid a total of 20,000 for a waterproof concrete basement ("white tank").

Therefore, I assume my plot has approximately the same quality. The property is fully serviced.

I recently learned that they had an offer of 220,000 for the basement including the house shell, but they ended up building a prefabricated house.

If I start from the 220,000 and add additional incidental costs (30,000) and site development (30,000), the total is realistically around 280,000, which seems more reasonable.
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Manu1976
4 Apr 2015 14:10
MichiQM schrieb:
My "neighbors" about 10 meters (33 feet) away paid a total of 20k for a waterproof concrete basement.

However, the 20,000 is most likely only for the bare walls of the basement. Excavation work, the floor slab, the concrete ceiling, the screed, the stairs, the necessary windows, electrical installations, flooring, possibly even interior walls, heating, insulation of the exterior walls, and so on are almost certainly not included.

Before you know it, the basement costs can easily reach 50,000 or more.
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MichiQM
5 Apr 2015 11:12
As I said, they could have gotten a complete house with a basement for 220,000 with a company.
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Bauexperte
6 Apr 2015 13:30
MichiQM schrieb:
As I said, they could have gotten a complete house with a basement for 220k from a company.

So why didn’t you sign the construction contract with this provider then?

It’s always amusing to read when answers and comments are completely ignored.....

Easter greetings
M
Manu1976
6 Apr 2015 13:35
MichiQM schrieb:
I just found out that back then they had an offer of 220,000 for a basement including the shell construction of the house, but they ended up building a prefabricated house.
MichiQM schrieb:
As I said, they could have gotten a complete house with basement for 220,000 from one company.

So, what is it? A complete house or just the shell construction? You’re contradicting yourself. And why should only 20,000 of the 220,000 be allocated to the basement? Have you seen the offer or the billing breakdown?