ᐅ Is Buying a House for up to €350,000 Realistic?

Created on: 1 Jun 2020 09:31
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Mlt1402
Dear Forum,

We are about to purchase a plot of land (500m2 (5,382 sq ft)) and are trying to get an idea of the costs involved in building a house.

Our maximum budget for the house construction is €400,000, but since we want to have a safety margin, we initially set a budget of €350,000.

Our ideal house would have a pitched roof and a basement, with approximately 130m2 (1,400 sq ft) of living space—no frills, no luxury, but still modern.

We are unsure whether to go for a traditional masonry build or a prefabricated house. A well-known local company specializing in masonry construction quoted us costs of around €3,000 per m2 (€3,000 per 10.8 sq ft) as a basis for a “standard house.”

At first, this sounds quite expensive to me.

Since we could imagine contributing some work ourselves (with help from acquaintances and skilled friends), we hope to reduce costs somewhat this way.

Is it necessary to plan for €3,000 per m2 in any case? Even with prefabricated houses? I am also quite skeptical of the attractive offers in catalogues.

I would greatly appreciate your feedback.
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haydee
1 Jun 2020 11:48
Depending on the soil conditions, disposal costs, and features, you can expect additional costs between 60,000 and 100,000. You will also have to carry materials yourself. Since you are already planning for a shed, why not place the building services on the ground floor? You can also store cleaning supplies and other items there. On the upper floor, a small utility room for laundry and some storage space would be practical. Behind the carport, a storage room for bicycles and garden tools would be useful. This is more cost-effective and eliminates one floor. The building plot must allow for this space.
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Yosan
1 Jun 2020 12:00
I would also recommend building slightly larger instead of adding a basement. For example, we extended the kitchen with a 5x4m (16x13 ft) room that also provides access to the parking spaces. We store drinks there, various outdoor items (such as a party tent set), and one wall is set up as a workbench for my husband. We will probably add a small freezer there soon.

From the upper floor, we can also use the space as a balcony. The entire extension (excluding the balcony flooring and railing) cost about 13,000 extra.

Usually, you don’t need the entire basement space, but of course, once it’s there, you tend to fill it up.
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saralina87
1 Jun 2020 12:01
I would also reconsider the basement.
We are building something similar, 140 sqm (1,507 sq ft), on a completely flat plot with very uncomplicated soil.
The basement alone would have cost us an additional 70,000, on top of the increased additional construction costs that come with it.
For us, it definitely wasn’t worth it.
Right now, just for the house, we are at 355,000 (excluding additional construction costs), if that helps you.
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ypg
1 Jun 2020 14:14
Mlt1402 schrieb:

The basement is mainly intended for utility purposes (possibly a hobby room)
@saralina87 summed it up perfectly: using the basement as living space is too expensive and makes building the house unrealistic for you.
A prefab house is additionally $20,000–30,000 more expensive for a single-family home of your size compared to traditional solid construction.
Just adding 10sqm (100 sq ft) on the ground floor for a utility room to the 130sqm (1,400 sq ft), plus an attic in the pitched roof house, provides additional storage space. Then a garden shed is still affordable.
Regarding the house price quotes: adding 20–25% gives a realistic estimate. But don’t forget additional construction costs, exterior landscaping, and the carport.
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Mlt1402
23 Jun 2020 12:38
Mentally, we have already decided against a basement and would like to find alternative options for parking. I have no idea yet what possibilities there are.

To clarify our financial situation once again: we have 420,000 euros for the house construction, additional costs, and outdoor landscaping.
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haydee
23 Jun 2020 12:56
Storage space exactly where you need it.
Garden shed for gardening tools, grill, seat cushions, pool equipment during winter
Attached carport for tools, tires, bicycles
Slightly larger utility room for cleaning supplies, beverage crates
Built-in cupboard under the stairs
Possibly a small storage room on the upper floor
Attic for Christmas decorations, suitcases, etc.

For 420,000 you get a house in the size you want—okay, without a basement +20m² (215 sq ft), a carport, a garden shed, outdoor landscaping, and additional costs. Nothing high-end, but with solid basic fittings.