Hello everyone,
Since I started exploring the topic of house construction two months ago, I have now registered on this forum.
A brief introduction about me and my wife: We are both employed (civil engineer and real estate assistant) with a net income of 4xxx.
Equity capital: 50,000 euros.
One would actually assume that with this equity and net income, buying a property should be easy. However, since I do not want to repay a loan over 30-35 years but rather a maximum of 25 years, and I don’t want to fully stretch the limit, the monthly installment and therefore the total amount quickly become restricted. A total of 250,000 net plus additional construction costs equivalent to the equity capital would be the limit here. In Berlin and its surrounding area? Practically unthinkable.
I am a civil engineer (although specializing in concrete repair and thus not an expert in single-family houses, etc.) and can therefore assess construction prices, combined with my wife’s interest in the real estate sector, allowing us to understand the high general prices for land.
With 250,000 net plus additional construction costs, there is generally not much you can do nationwide for new builds — this is my initial assessment.
There has already been a lot of discussion here in other threads about construction costs, potential capital, and what is needed. When I see bargain houses on TV, I also facepalm. My assumption is that such homes don’t bring much joy. Heating systems, plumbing, electrical installations, thermal insulation — these are often overestimated.
Currently, I am researching prefabricated houses with self-finishing options. However, I do have some concerns, even though I assume that nowadays the materials at least meet certain standards.
So, what are the options?
Being bound for 30 years and pushing the loan to the limit?
House auctions?
Hoping for a bargain plot including an affordable prefab house as a self-build (lots of work and potentially many worries)
Since I plan to start building within the next 24-36 months, my initial findings are sobering.
At least the construction company I work for could provide the foundation slab plus groundwork like drainage, etc., at a low cost. I also know structural engineers and others involved. Maybe the project can be realized with a “small” budget thanks to these circumstances.
Has anyone managed to do this before?
Since I started exploring the topic of house construction two months ago, I have now registered on this forum.
A brief introduction about me and my wife: We are both employed (civil engineer and real estate assistant) with a net income of 4xxx.
Equity capital: 50,000 euros.
One would actually assume that with this equity and net income, buying a property should be easy. However, since I do not want to repay a loan over 30-35 years but rather a maximum of 25 years, and I don’t want to fully stretch the limit, the monthly installment and therefore the total amount quickly become restricted. A total of 250,000 net plus additional construction costs equivalent to the equity capital would be the limit here. In Berlin and its surrounding area? Practically unthinkable.
I am a civil engineer (although specializing in concrete repair and thus not an expert in single-family houses, etc.) and can therefore assess construction prices, combined with my wife’s interest in the real estate sector, allowing us to understand the high general prices for land.
With 250,000 net plus additional construction costs, there is generally not much you can do nationwide for new builds — this is my initial assessment.
There has already been a lot of discussion here in other threads about construction costs, potential capital, and what is needed. When I see bargain houses on TV, I also facepalm. My assumption is that such homes don’t bring much joy. Heating systems, plumbing, electrical installations, thermal insulation — these are often overestimated.
Currently, I am researching prefabricated houses with self-finishing options. However, I do have some concerns, even though I assume that nowadays the materials at least meet certain standards.
So, what are the options?
Being bound for 30 years and pushing the loan to the limit?
House auctions?
Hoping for a bargain plot including an affordable prefab house as a self-build (lots of work and potentially many worries)
Since I plan to start building within the next 24-36 months, my initial findings are sobering.
At least the construction company I work for could provide the foundation slab plus groundwork like drainage, etc., at a low cost. I also know structural engineers and others involved. Maybe the project can be realized with a “small” budget thanks to these circumstances.
Has anyone managed to do this before?
H
HilfeHilfe20 Jun 2019 16:21WilhelmRo schrieb:
Then you must be going through excruciating pain right now... xD
Besides, the zero was the point. Don’t quote something if you’re not going to address it…Why am I not allowed to quote anything?? Educate those around you, not people you consider to be without character. They are beyond help.H
Holznagel21 Jun 2019 18:40Hello Berlin 85
I’m not sure what type of house you have in mind, but if you are considering a wooden house, you could easily finance it with your income.
We realized this dream a few years ago and are very satisfied.
Our house is 96m2 (1,033 sq ft) with the upper floor knee wall about 96 cm (38 inches) high. The rest, of course, is the roof slope, where a mezzanine is even possible.
These houses not only have a huge price advantage, but you can also decide on all window and door openings and even the interior walls without paying any extra.
Many homebuilders probably first think of maintenance when it comes to wood, meaning painting.
However, if you want to minimize environmental impact like we do, you can completely skip any treatment of the wood. This is easily possible. With proper construction, the wood won’t suffer; it will just gradually turn gray.
Oh yes, the part you are probably most interested in: the costs.
Our house cost about €55,000 (around $60,000). This may sound unrealistic, but it’s not!
I should mention, though, that we built the house entirely ourselves.
Only the kit was delivered (about €28,000 / $30,000).
If a construction team assembles the house, it costs about €5,500 ($6,000) and takes around 2–3 days. The rest would need to be done by you or by trade professionals.
If you’re interested, just write to me. I can also send you pictures and certainly offer some advice.
Best regards,
Michael
I’m not sure what type of house you have in mind, but if you are considering a wooden house, you could easily finance it with your income.
We realized this dream a few years ago and are very satisfied.
Our house is 96m2 (1,033 sq ft) with the upper floor knee wall about 96 cm (38 inches) high. The rest, of course, is the roof slope, where a mezzanine is even possible.
These houses not only have a huge price advantage, but you can also decide on all window and door openings and even the interior walls without paying any extra.
Many homebuilders probably first think of maintenance when it comes to wood, meaning painting.
However, if you want to minimize environmental impact like we do, you can completely skip any treatment of the wood. This is easily possible. With proper construction, the wood won’t suffer; it will just gradually turn gray.
Oh yes, the part you are probably most interested in: the costs.
Our house cost about €55,000 (around $60,000). This may sound unrealistic, but it’s not!
I should mention, though, that we built the house entirely ourselves.
Only the kit was delivered (about €28,000 / $30,000).
If a construction team assembles the house, it costs about €5,500 ($6,000) and takes around 2–3 days. The rest would need to be done by you or by trade professionals.
If you’re interested, just write to me. I can also send you pictures and certainly offer some advice.
Best regards,
Michael
H
Holznagel21 Jun 2019 19:17Hello Tego,
I don’t know where you’re coming from, but I definitely don’t need to advertise for any company here. Everything I have written is true and based on my own experiences.
If, for whatever reason, you can’t accept that, then forums like this are simply not the place for you.
Our house has been standing for several years now.
I highly doubt you’ve even had any contact with the company; otherwise, you wouldn’t be writing such nonsense. Of course, it might be that you behave the same way there as you do here. In that case, I’m not surprised.
I don’t know where you’re coming from, but I definitely don’t need to advertise for any company here. Everything I have written is true and based on my own experiences.
If, for whatever reason, you can’t accept that, then forums like this are simply not the place for you.
Our house has been standing for several years now.
I highly doubt you’ve even had any contact with the company; otherwise, you wouldn’t be writing such nonsense. Of course, it might be that you behave the same way there as you do here. In that case, I’m not surprised.
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