Hello,
this thread is for those readers who, like us, often feel a bit lost here.
We are about to sign a contract for building a house to KfW 40 standard with a local general contractor. Financing through KfW and ISB.
A brief introduction about us
Income and assets situation:
Expenses:
Mobility costs: for 2 cars total
Insurance costs:
Living expenses:
Summary of income and expenses:
General information about the property:
Construction or purchase costs:
Other costs:
Cost summary:
Necessary loan details:
Let the show begin. Looking forward to your feedback. I thought it might be interesting since some questions of this kind have come up recently.
this thread is for those readers who, like us, often feel a bit lost here.
We are about to sign a contract for building a house to KfW 40 standard with a local general contractor. Financing through KfW and ISB.
A brief introduction about us
- Who are you? H. and M.
- How old are you? 33 and 30
- Any children? One boy, turning one next week
- Are more children planned? None due to the house build
- What do you do for work? H: CNC machinist, M: administrative clerk
- Are you employed, self-employed, retired, homemaker, etc.? Employed
- How many hours do you work? H: 40 plus a part-time job twice a week for 2 hours each, M: 16 hours (part-time on parental leave)
Income and assets situation:
- What income do you have (gross/net)? H: 3258/2312 plus part-time job about 250 €; M: 1282/1048
- How much child benefit do you receive? 250 €
- Other benefits like parental allowance, sick pay, etc.?
- How much equity do you have? 130,000
- How much of that equity do you plan to invest in the house project? 100,000
Expenses:
- Current cold rent (rent excluding utilities) 450 €
- Current warm rent (rent including utilities) 550 €
- Electricity 75 €
- Phone, internet, mobile 80 €
Mobility costs: for 2 cars total
- Insurance 96 €
- Taxes 26 €
- Fuel 210 €
Insurance costs:
- Liability insurance 6.60 €
- Capital or term life insurance 13 €
- Pension insurance (including Riester, Rürup, etc.) 100 €
- Disability insurance 126 €
- Accident insurance 45 €
- Household contents insurance 4 €
- Union fees 33 €
Living expenses:
- Groceries 500 €
- Eating out 0
- Personal care/drugstore 40 €
- Clothing 20 €
- Cleaning 5 €
Summary of income and expenses:
- Total income 3860
- Total expenses 1899.6
- Balance 1961
- of which cold rent 450
General information about the property:
- How large is the plot? 663 sqm (7135 sq ft)
- Dimensions? 24 x 27.5 m (79 x 90 ft)
- Land value? 65 € per sqm (approximately 6 per sq ft)
- New build, existing house (year built), type of house? New build, detached house, gable roof, KfW 40, 1.5 storeys
- Garages? Single garage
- Size of the house? (Living area / usable area) Living area 129 sqm (1390 sq ft), usable area 143 sqm (1540 sq ft) plus 32 sqm (344 sq ft) garage
- Market value of land and house after completion? 503,000 €
Construction or purchase costs:
- Land costs 43,095 €
- Additional acquisition costs (notary, court, property transfer tax, agent) 2400 €
- Construction or purchase costs (including architect, structural engineer) 386,000 €
- Construction ancillary costs (e.g., utility connections, soil expert, construction power, etc.) 5,000 €
- Outdoor facilities/terrace, paths, garden design, fences, etc. 10,000 €
- Total costs 446,495 €
Other costs:
- Kitchen costs 15,000 €
- Photovoltaic system 12,000 € (6 kW with 6 kW battery storage)
- Energy consultant 5,325 €
- Garage in owner’s construction 17,500 €
- Front door 4,500 €
Cost summary:
- Total costs 500,820 €
- Deductible equity 145,495 €
- Financing amount 355,525 €
Necessary loan details:
- Loan amount 170,000 € KfW, 175,000 € ISB LM
- Loan type (e.g., annuity loan, bullet loan, etc.) annuity loan
- Interest rate (p.a. nominal, otherwise effective) 0.53 % KfW, 3.4 % ISB
- Fixed interest period 10 years KfW, until full repayment ISB
- Estimated total term until full repayment September 30, 2052
- Initial repayment rate KfW 2.77 %, ISB 1.8 %
- Monthly payment KfW 469.03 €, ISB 758.33 €, total: 1,226.06 €
- Are prepayments allowed? (Please state amount) ISB 10% per year
Let the show begin. Looking forward to your feedback. I thought it might be interesting since some questions of this kind have come up recently.
W
WilderSueden21 Dec 2023 19:16Oberhäslich schrieb:
Construction electricity for 3-5k€? Where do you live and how much does electricity cost there? We are currently paying 33.4 cents per kWh for construction power. Aside from the heating program, there shouldn’t be much electricity used. Dryers and heaters aren’t really necessary… Otherwise, most of the craftsmen’s tools run on batteries. Battery-powered tools also need charging, although those are probably just small devices. What really uses a lot of power are things like cranes, plaster silos, machines, and screed silos (with on-demand water heaters). In winter, the tradespeople often run electric fan heaters. If the device has a three-phase power plug, you know what that means. Screed drying consumes a lot of power and usually takes place shortly after the base plaster is applied inside, so there’s a lot of moisture. You can manage without a construction dryer if you live next to the site and ventilate five times a day. Towards the end of the screed drying, the plasterers come and start taping everything up for the finish plaster and painting. By that point, the construction dryer is usually already gone and needs to be brought back in.
All the high-voltage electrical work can no longer be managed with an extension cable from a neighbor. Even if the neighbor has a three-phase supply in their garage, it is most likely not sufficiently protected.
B
Buchsbaum21 Dec 2023 20:26Oberhäslich schrieb:
Otherwise, many of the craftsmen’s tools are cordless.That almost sounds like Habeck.
The tools don’t need power—they run on batteries!
Thank you very much for the little satirical remark.
X
xMisterDx21 Dec 2023 20:35There is no three-phase power... for the hundredth time...
In the end, we had just under 500 kWh on the construction power meter. Therefore, 3,000–5,000 EUR for construction electricity is completely unrealistic. That would equal 9,000–15,000 kWh.
Absolute nonsense.
In the end, we had just under 500 kWh on the construction power meter. Therefore, 3,000–5,000 EUR for construction electricity is completely unrealistic. That would equal 9,000–15,000 kWh.
Absolute nonsense.
W
WilderSueden21 Dec 2023 20:40And with us, after the screed, nearly 6000 kWh passed through. I don’t know about the rest; that was at the general contractor’s expense. The world can be so different.
PS: I don’t care what the official standards say about three-phase power or not. Colloquially, it exists.
PS: I don’t care what the official standards say about three-phase power or not. Colloquially, it exists.
HausNummer 9 schrieb:
I won’t continue writing here for certain reasons. That was to be expected from the start. It’s a pity you already signed the contract and didn’t join this discussion earlier.
If this were my project, I would still seek advice here because it’s free, honest, and full of valuable experience. Even if it’s tough at first to accept some hard truths, in the end, you can only benefit.
Unfortunately, I also see some financial gaps and probably a few surprises ahead for you. My recommendation: negotiate with the general contractor (GC) to allow removing certain items from the contract if it looks like the budget won’t be sufficient. This is by no means shameful or a sign of poor planning. Something unexpected almost always happens, and costs can easily increase by $20,000. We also arranged the tiling as a DIY job and had the contractor remove it from their scope because we ran out of funds.
B
Benutzer 100122 Dec 2023 12:04Oberhäslich schrieb:
Just as an example from our experience:
Water connection all inclusive 1300€ for 5m (16 feet)
Electricity connection all inclusive 1500€ for 15m (49 feet)
Sewage connection free, own excavation contractor up to the manhole 2100€ including 25m (82 feet) DN110/160
Telecom all inclusive 899€ for 15m (49 feet)
Surprisingly, additional costs came up for us:
Soundproof windows +5,000€
Radon sealing +5,000€
More excavation/removal 20,000€ instead of 10,000€ according to the quote
Otherwise, I think many here are too strict. There are also home builders who don’t have high demands. Have you added up your costs.. but how can soundproof windows be a surprise?
Here again, apples are being compared to oranges—a prefab house with dry screed, in summer probably only 500 kWh is needed.
A more detailed 250 m2 (2,690 sq ft) house with traditional screed and heat pump plus electric heating rod rather consumes 5,000 kWh. Then in winter, when the construction workers are cold, you already have 10,000 kWh.
@HausNummer 9
Everyone contributing here is basically right, just take all this as helpful advice.