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!
We had agreed that Bien-Zenker would handle the plastering, sanding, installing interior doors, and fitting the sanitary fixtures. Is there an item in the offer that excludes any of this?
We only planned to do the painting and laying the floors ourselves, or we know a professional painter.
We can get the photovoltaic system at a good price through connections.
We only planned to do the painting and laying the floors ourselves, or we know a professional painter.
We can get the photovoltaic system at a good price through connections.
Tine996 schrieb:
We had agreed that spackling, sanding, installing interior doors, and fitting sanitary fixtures would be handled by Bien-Zenker. Is there a section in the offer where these tasks are not included?
We only planned to paint and lay the floors ourselves, or we know a professional painter to do that. According to the scope of work, these tasks are not included. Your contract excerpt does not state that Bien-Zenker is responsible for them. Therefore, they are either not part of the contract or an important contract section is missing.
Tine996 schrieb:
We had agreed that spackling, sanding, fitting the interior doors, and installing the sanitary fixtures would be handled by Bien-Zenker. Is there a section in the offer where this is not included?! I’ll ask like we did in law lectures: Where does it say that the provider does all of this completely?
The “ZAF” level is clearly shown. For the provider, this means you are responsible for all these tasks. If there are other documents with different arrangements, then you haven’t uploaded them.
M
Marvinius201625 Dec 2024 22:22Following the current discussion, it seems to have started with misinformation about the property transfer tax and now continues with uncertainties regarding the scope of work description and the extent and effort of self-performed work. I would advise future homeowners to step back, familiarize themselves more thoroughly with the subject, and take a break. Under no circumstances should a contract be signed at this point.
In our own building project seven years ago, we had clarity about the property transfer tax, but then experienced some costly surprises related to the scope of work description and the necessary adjustments with the construction company. By the time the house, including the outdoor area, was completed and fully furnished, we had reached 1.8 times the price that was originally stated in the construction contract. (Note: the 1.8 times also includes the land price.) I had suspected this from the beginning and had only shared half of my budget with the construction company initially. Therefore, it was not a drama, and we are satisfied with the house.
In our own building project seven years ago, we had clarity about the property transfer tax, but then experienced some costly surprises related to the scope of work description and the necessary adjustments with the construction company. By the time the house, including the outdoor area, was completed and fully furnished, we had reached 1.8 times the price that was originally stated in the construction contract. (Note: the 1.8 times also includes the land price.) I had suspected this from the beginning and had only shared half of my budget with the construction company initially. Therefore, it was not a drama, and we are satisfied with the house.
Tine996 schrieb:
Is there a point in the offer where this is excluded?! You have been told that the construction service description is what counts. You are shown screenshots from the home builder Bien-Zenker – but you yourselves have the responsibility to read everything carefully.
You only receive what is contractually agreed upon and signed.
It seems to me that you rely too much on the information given to you instead of conducting your own review, research, and verification of the prices.
A professional painter also costs money. And not a little. Whether they are painting during their working hours or giving up part of their annual leave for you.
By now, your A4 sheet should be filled with several calculable additional costs, which should prompt you to research various topics further. This starts with property transfer tax, followed by differences in cost presentation and feasibility, as well as some contract law aspects.
Again:
Tine996 schrieb:
Is there a point in the offer where this is excluded?! Is it stated anywhere that it is included?
To be clear: you are completely uninformed and have (so far) no idea. Tear up the draft contract and spend several months getting familiar with all the relevant topics. Only then will you be ready to act as a client.
Alternatively: increase your credit limits and uninformedly commission everything the providers promise you. However, this will end up being a costly lesson.
Alternatively: increase your credit limits and uninformedly commission everything the providers promise you. However, this will end up being a costly lesson.