ᐅ Is it Practical to Build a Single-Family Home as a Single Person?
Created on: 28 Oct 2016 23:34
P
p2007
Hello,
I am currently in the planning phase for my own home. A little about me: I am 31 years old and a civil servant. My current net income is €2,650 and it is expected to rise to around €3,300 net over the next 10 years. Recently, I inherited a 700m² (7,535 sq ft) plot of land, valued at approximately €250,000 according to the local land price index. I would like to build on this property. Besides the land, I have about €15,000 in savings. The plan is to build a single-family house worth around €300,000. I have an architect in the family who is providing the full planning and coordination free of charge.
The idea is that I will build the house on my own. Although I have a girlfriend, she would at most contribute some rent and therefore would not be officially involved. However, I have the following question:
Does it make sense to build a house as a single person?
I have a girlfriend, but we have not been together long enough for me to be sure it is a lasting relationship. I keep going back and forth, wondering if the comfort and luxury of owning a home justifies the high monthly expenses. I am quite worried that I might be overestimating myself and that I could end up living alone in the house, unable to manage the costs. On the other hand, I think I can start financing a home now that will be paid off by the time I retire. Does anyone else experience these constant doubts, and what have your experiences been afterward? I keep telling myself that as a “single” person, I shouldn’t build a house.
Thank you for your replies and have a great evening!
Best regards, Chris
I am currently in the planning phase for my own home. A little about me: I am 31 years old and a civil servant. My current net income is €2,650 and it is expected to rise to around €3,300 net over the next 10 years. Recently, I inherited a 700m² (7,535 sq ft) plot of land, valued at approximately €250,000 according to the local land price index. I would like to build on this property. Besides the land, I have about €15,000 in savings. The plan is to build a single-family house worth around €300,000. I have an architect in the family who is providing the full planning and coordination free of charge.
The idea is that I will build the house on my own. Although I have a girlfriend, she would at most contribute some rent and therefore would not be officially involved. However, I have the following question:
Does it make sense to build a house as a single person?
I have a girlfriend, but we have not been together long enough for me to be sure it is a lasting relationship. I keep going back and forth, wondering if the comfort and luxury of owning a home justifies the high monthly expenses. I am quite worried that I might be overestimating myself and that I could end up living alone in the house, unable to manage the costs. On the other hand, I think I can start financing a home now that will be paid off by the time I retire. Does anyone else experience these constant doubts, and what have your experiences been afterward? I keep telling myself that as a “single” person, I shouldn’t build a house.
Thank you for your replies and have a great evening!
Best regards, Chris
Here is the perspective of a single person who is currently planning a build and will start construction early next year.
I am 32 and now want to finance homeownership. I have also inherited a plot of land that has been in the family for generations, and I definitely do not want to sell it. Therefore, financing a condominium (apartment) would not have been possible since I lacked the money from the land. Also, I grew up on a detached lot, and I can't imagine living without a garden in the long run. So, building a new house was the only option.
In the house plan, I did not include a basement (cellar), as I don’t need one as a single person, and I have two children’s rooms that I currently use as a guest room and storage. If a partner and children do come along, then there simply won’t be a guest room anymore, and overnight visitors will have to share space. A larger garden shed will be added for storing all sorts of things. Possibly, an extension could still be considered later.
I’m confident in this approach because, even if I had built a house with a partner, I would have structured financing so that I could keep the land in case of a separation.
By the way, it is quite common here for singles to build their own homes. We are very attached to our home region, and moving away is rare. Plots are passed down within families rather than sold, so people build on inherited land instead of moving into an apartment.
I would say, go for it.
I am 32 and now want to finance homeownership. I have also inherited a plot of land that has been in the family for generations, and I definitely do not want to sell it. Therefore, financing a condominium (apartment) would not have been possible since I lacked the money from the land. Also, I grew up on a detached lot, and I can't imagine living without a garden in the long run. So, building a new house was the only option.
In the house plan, I did not include a basement (cellar), as I don’t need one as a single person, and I have two children’s rooms that I currently use as a guest room and storage. If a partner and children do come along, then there simply won’t be a guest room anymore, and overnight visitors will have to share space. A larger garden shed will be added for storing all sorts of things. Possibly, an extension could still be considered later.
I’m confident in this approach because, even if I had built a house with a partner, I would have structured financing so that I could keep the land in case of a separation.
By the way, it is quite common here for singles to build their own homes. We are very attached to our home region, and moving away is rare. Plots are passed down within families rather than sold, so people build on inherited land instead of moving into an apartment.
I would say, go for it.
Bava schrieb:
Therefore, financing a condominium would not have been possible for me because I lacked the funds for the land.The value of the land could be used as collateral, making a condominium financing feasible.
Wonderful starting point – almost
Of course, as a single person, you can build a house – I basically don’t see any problem with that family status itself.
But:
1. A house with a garden can literally steal your time. This makes meeting new people more difficult compared to a single person who can freely spend weekends and evenings out among people and public events without being tied to a home. Nobody is waiting for you in your garden wanting to get to know you.
2. Nest-building: which woman of nesting age wants to move into a finished nest?
3. Space requirements: I would build what I need – what do you want in a house that’s too big?
To my horror!!! I just read that the oversized house in the parallel thread comes from "you" – at least the thread.
-> What do you want to do alone walking through these grand halls???? Who will clean your windows? Surely the loan (as a single person) won’t be the problem, but the window cleaner will be... oops: … and the additional costs are not exactly easy to manage alone either.
-> What if you meet a woman who has 3 children?
Therefore, I would simply wait a few more years. Interest rates have already been low for what feels like ages, and even if they rise a bit, you probably won’t notice much.
Regarding the single status with a girlfriend, I’ll say nothing. If I were a girlfriend, I probably wouldn’t be too keen to spread my belongings out in that house...
Of course, as a single person, you can build a house – I basically don’t see any problem with that family status itself.
But:
1. A house with a garden can literally steal your time. This makes meeting new people more difficult compared to a single person who can freely spend weekends and evenings out among people and public events without being tied to a home. Nobody is waiting for you in your garden wanting to get to know you.
2. Nest-building: which woman of nesting age wants to move into a finished nest?
3. Space requirements: I would build what I need – what do you want in a house that’s too big?
To my horror!!! I just read that the oversized house in the parallel thread comes from "you" – at least the thread.
-> What do you want to do alone walking through these grand halls???? Who will clean your windows? Surely the loan (as a single person) won’t be the problem, but the window cleaner will be... oops: … and the additional costs are not exactly easy to manage alone either.
-> What if you meet a woman who has 3 children?
Therefore, I would simply wait a few more years. Interest rates have already been low for what feels like ages, and even if they rise a bit, you probably won’t notice much.
Regarding the single status with a girlfriend, I’ll say nothing. If I were a girlfriend, I probably wouldn’t be too keen to spread my belongings out in that house...
K
Knallkörper30 Oct 2016 12:03From my perspective, both the financing requirements in relation to the income and the plot size in relation to the number of occupants are a no-go. Either divide the plot and build smaller as a single person, preferably a semi-detached house. Or find a partner with a desire for children or a stroller and own income beforehand.
In principle, 700 sqm (7,535 sq ft) alone is too large for me. You end up with a garden and no time left for hobbies. At least if you work full time. And I’ll just hold back any cliché remarks about civil servants’ job situations.
I’m actually an enthusiastic gardener, but nowadays I’m thinking: space for a nice raised bed, maybe an extra herb garden, and at most a small greenhouse. Otherwise, not much area—fill with gravel, plant a few low-maintenance perennials, and the rest is terrace and driveway. Definitely no lawn, flower beds, or anything else that takes work. A hedge for privacy is fine, but that’s it. For that, 350-400 sqm (3,767–4,306 sq ft) is enough. Everything else is just work.
I understand well if you want to start now. I would divide the plot. It’s probably possible with two separate houses, but I wouldn’t necessarily want a semi-detached house. What floor area ratio (FAR) or building coverage ratio applies? Then find a clever architect and develop a flexible design. One that allows for expansion or conversion if your life situation changes (which could also address that nesting instinct mentioned earlier), but right now a concept that matches you and your current situation.
You never know what the future holds. Whether you end up starting a family is unknown today, and then you live in a house planned for two children. Who needs that? I also thought I would have a family, but now I live as a DINK. That wasn’t planned or expected, but it is what it is.
So: Build for yourself now, and if a family comes later, expand. The design should take that into account. Also, children don’t necessarily need a huge garden to thrive (otherwise all city kids would be worse off). Therefore, I would divide the plot if possible and sell part of it. That way, your financial burden should stay absolutely manageable.
I’m actually an enthusiastic gardener, but nowadays I’m thinking: space for a nice raised bed, maybe an extra herb garden, and at most a small greenhouse. Otherwise, not much area—fill with gravel, plant a few low-maintenance perennials, and the rest is terrace and driveway. Definitely no lawn, flower beds, or anything else that takes work. A hedge for privacy is fine, but that’s it. For that, 350-400 sqm (3,767–4,306 sq ft) is enough. Everything else is just work.
I understand well if you want to start now. I would divide the plot. It’s probably possible with two separate houses, but I wouldn’t necessarily want a semi-detached house. What floor area ratio (FAR) or building coverage ratio applies? Then find a clever architect and develop a flexible design. One that allows for expansion or conversion if your life situation changes (which could also address that nesting instinct mentioned earlier), but right now a concept that matches you and your current situation.
You never know what the future holds. Whether you end up starting a family is unknown today, and then you live in a house planned for two children. Who needs that? I also thought I would have a family, but now I live as a DINK. That wasn’t planned or expected, but it is what it is.
So: Build for yourself now, and if a family comes later, expand. The design should take that into account. Also, children don’t necessarily need a huge garden to thrive (otherwise all city kids would be worse off). Therefore, I would divide the plot if possible and sell part of it. That way, your financial burden should stay absolutely manageable.
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