Hello everyone,
I’ve already read some interesting threads here and now I’d like to ask a question myself:
About me: I’m 28 years old and married—no children yet, but we do want some in the future. My husband and I have been searching for properties, plots of land, etc., for about 2.5 months. We are quite open to options like condominiums, building a new home on a lot, or an existing property.
We are both industrial engineers and currently earn a combined gross annual income of 120,000 EUR. Our current savings amount to 120,000 EUR. We only finished our master’s degrees 3 and 4 years ago. Right now, we live in 60 sq m (645 sq ft) for 1,000 EUR (about 1,000 USD) all-inclusive rent. It’s hardly possible to find cheaper here without significantly increasing the commute to work. Currently, we can bike to work.
At the moment, we are looking at a 1,200 sq m (12,917 sq ft) plot with a new build. The prefabricated house provider would be Bien-Zenker. Our meeting with them left a solid impression compared to two other manufacturers.
We have received an offer that includes almost everything: a 165 sq m (1,776 sq ft) house without a basement, a double garage, the land, and utility connections for just under 670,000 EUR. Something like the kitchen is, of course, not included. So we’re assuming about 700,000 EUR in total.
I am extremely uncertain whether we should proceed with this. Also, whether the financing will work out. Our main bank said it should be possible... but they would prefer us to have a guarantor. My in-laws would support us with about 30,000 EUR, but my parents wouldn’t help financially. My uncle could assist with a low-interest loan. Since all this came up so quickly, we still need to schedule more appointments to clarify the financing. Our decision deadline is about four weeks.
I wanted to ask if there are people here who have been in a similar situation or could offer an assessment.
Thank you very much!
I’ve already read some interesting threads here and now I’d like to ask a question myself:
About me: I’m 28 years old and married—no children yet, but we do want some in the future. My husband and I have been searching for properties, plots of land, etc., for about 2.5 months. We are quite open to options like condominiums, building a new home on a lot, or an existing property.
We are both industrial engineers and currently earn a combined gross annual income of 120,000 EUR. Our current savings amount to 120,000 EUR. We only finished our master’s degrees 3 and 4 years ago. Right now, we live in 60 sq m (645 sq ft) for 1,000 EUR (about 1,000 USD) all-inclusive rent. It’s hardly possible to find cheaper here without significantly increasing the commute to work. Currently, we can bike to work.
At the moment, we are looking at a 1,200 sq m (12,917 sq ft) plot with a new build. The prefabricated house provider would be Bien-Zenker. Our meeting with them left a solid impression compared to two other manufacturers.
We have received an offer that includes almost everything: a 165 sq m (1,776 sq ft) house without a basement, a double garage, the land, and utility connections for just under 670,000 EUR. Something like the kitchen is, of course, not included. So we’re assuming about 700,000 EUR in total.
I am extremely uncertain whether we should proceed with this. Also, whether the financing will work out. Our main bank said it should be possible... but they would prefer us to have a guarantor. My in-laws would support us with about 30,000 EUR, but my parents wouldn’t help financially. My uncle could assist with a low-interest loan. Since all this came up so quickly, we still need to schedule more appointments to clarify the financing. Our decision deadline is about four weeks.
I wanted to ask if there are people here who have been in a similar situation or could offer an assessment.
Thank you very much!
N
nordanney28 Dec 2024 17:41Tine996 schrieb:
If something like this comes up again, is a soil survey always the decisive factor?Yes. If there are any signs, only buy with a survey and nothing else. Otherwise, you could face additional costs of up to around 50,000 (estimate) that nobody expects. But maybe there are also options like screw foundations or other alternatives.
Tine996 schrieb:
I found out that a friend knows the neighbor of the property. She then asked him about the land:
The soil seems to be very peaty (peat was also extracted nearby in the past). [ / ]
How do you generally assess peaty or sandy soil?
From what I’ve read so far, these are unpredictable soil types that require special planning.
If we come across something like this again, a soil investigation is probably always essential, right? nordanney schrieb:
If there are signs, only buy with a soil report. Otherwise, you could face additional costs of up to $50,000 (estimate) that nobody expects. In other cases (but forget this offer here, as I said), use such a contact to ask the neighbor about their foundation work. Building on sand is the origin of a common saying, and peat is different but similarly unsuitable as building ground. Soil investigations (preferably before purchase) are generally advisable—even without suspicion of any problematic soil conditions.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
Tine996 schrieb:
From what I have read so far, these are unpredictable soil conditions that require special planning. I have only read that the costs can be enormous: soil replacement or pile foundation.
M
Marvinius201630 Dec 2024 13:30Yaso2.0 schrieb:
Edit: all my previous residences are also within a radius of about 3km (2 miles) from my current one.That’s still quite location-specific. Our current house is about 30km (19 miles) from our first home. Other rental properties are within a range of nearly 150km (93 miles). We are currently reducing those and investing abroad due to the uncertain political and economic situation here.
Marvinius2016 schrieb:
Phew, this is still very location-dependent. Our current house is about 30km (19 miles) from our first home. Other rental properties are within a radius of nearly 150km (93 miles). We are currently reducing these and investing abroad due to the uncertain political and economic situation at home.That just happened over time
but I mentioned it in response to the argument that the neighborhood inevitably changes when you move to a different house or apartment.
I wanted to illustrate that it does not necessarily have to change.
Hello everyone,
there are some new updates. We have received a geotechnical report for the plot of land.
The report is attached. The names of private individuals, who apparently commissioned the report, have been redacted.
What confuses me is the title: "preliminary initial assessment."
Overall, the report looks okay to me, meaning less severe than expected.
However, it does point out that the bearing capacity is assessed as low to very low – what does that mean?
There are also many conditional terms like "should," "must," etc. For example: if heavily clayey soils with peat components or silt lenses occur in the foundation base area, the soil must be completely removed.
Even with the report, there still seem to be significant uncertainties regarding soil replacement...
What do you think?
there are some new updates. We have received a geotechnical report for the plot of land.
The report is attached. The names of private individuals, who apparently commissioned the report, have been redacted.
What confuses me is the title: "preliminary initial assessment."
Overall, the report looks okay to me, meaning less severe than expected.
However, it does point out that the bearing capacity is assessed as low to very low – what does that mean?
There are also many conditional terms like "should," "must," etc. For example: if heavily clayey soils with peat components or silt lenses occur in the foundation base area, the soil must be completely removed.
Even with the report, there still seem to be significant uncertainties regarding soil replacement...
What do you think?
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