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
nordanney25 Dec 2024 19:51Ah. It's just a shell construction, which hasn't been fully built yet. You need to mention that too. There will still be around four months of self-work or an additional 50,000 to 100,000 for contractors.
nordanney schrieb:
Ah. It’s only a shell home, which hasn’t been fully built yet. You need to mention that. You still have about four months of your own work or an additional $50,000 to $100,000 for contractors. Well, by shell home I mean that we still have to paint/plaster the walls and install the flooring. Otherwise, everything else is included, or am I missing something?
Thank you, this is helpful. For example, you can check other offers for this property through the provider.
Regarding the offer itself: you will not receive more than what is being offered.
What is officially missing or still needs to be done to complete the basic equipment can be seen here.
Additionally, it is stated here
The figures do not reflect the actual costs.
For 10,000 euros, there isn't even a simple reinforced concrete garage, for example, and exterior work such as driveway paving is much more expensive. Protective measures around the house, rainwater drainage, and similar items are just examples of additional costs that will come on top.
Sellers often keep prices low enough so as not to discourage potential buyers.
Otherwise, check the construction specification to see what is still missing or what you get with the Evolution house.
Regarding the offer itself: you will not receive more than what is being offered.
What is officially missing or still needs to be done to complete the basic equipment can be seen here.
Additionally, it is stated here
The figures do not reflect the actual costs.
For 10,000 euros, there isn't even a simple reinforced concrete garage, for example, and exterior work such as driveway paving is much more expensive. Protective measures around the house, rainwater drainage, and similar items are just examples of additional costs that will come on top.
Sellers often keep prices low enough so as not to discourage potential buyers.
Otherwise, check the construction specification to see what is still missing or what you get with the Evolution house.
Tine996 schrieb:
Well, interior finishing in the sense that we still need to paint/plaster the walls and install the flooring. Otherwise, everything is included, or am I missing something?The connection for the photovoltaic system is planned, but as far as I can see from the scope of work description, you are responsible for providing the system.Jointing, plastering, floor coverings, interior doors, sanitary installations (i.e., installation—the fixtures are included according to your screenshot) are definitely still open. That means tiling in the bathroom, etc. Ultimately, you need to decide how much time you want and can invest in this.
Here is a quote from Bien-Zenker:
To make an informed decision, as a prospective builder, you should realistically assess your options beforehand. Even a low-cost partial interior finishing done by yourself demands quite a lot from you and your family. It’s best to have an honest discussion with everyone involved so that it’s clear that from the start of your own work phase, evenings and weekends will be spent on the construction site. Don’t underestimate this strain.
Also be honest with yourself about your craft skills. Of course, much can be learned. But like any learning process, mistakes will happen repeatedly. No one is a master from the start, and it would be unrealistic to assume that after just a few hours of practice, you can perform the tasks with the same perfection as a professional who has been doing it day in and day out for years.P.S.: The handwritten notes on the additional items are ridiculously low.
N
nordanney25 Dec 2024 20:30Tine996 schrieb:
Well, finishing in the sense that we still need to paint/plaster the walls and install the flooring. Otherwise, everything is already included, or am I missing something?"Just" the whole house- filling and sanding
- painting or wallpapering
- installing all sanitary fixtures
- laying all floors
- fitting interior doors
Get a painter or tiler. You have no idea how quickly $50,000 can disappear.
Or what an effort that is for you considering the area.
Besides your upcoming special requests and possibly missing items in the building specifications.
S
Schorsch_baut25 Dec 2024 20:40Tine996 schrieb:
By now, I’m increasingly of the opinion that we could start planning for our first child in our current rental apartment, but my husband is rather against it because he thinks the child needs a nursery or kids’ room, etc. That’s why we’re stressing ourselves out, I’m afraid. Compared to some, 2.5 months isn’t much time after years of searching. But when it comes to this topic, you don’t want to miss any opportunities. In our case, the children only really used their own rooms starting at age 3. Until then, the rooms were mostly used for storing children’s stuff. They usually slept with us until they were 3 and played wherever we were. This was more the case with our first child than with the second, who preferred to stay close to their sibling. So you can take your time and start looking once the wife is pregnant. You still have at least two years before you really “need” a kids’ room.
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