ᐅ New Construction on a New Plot Without Children – How Should We Approach It?
Created on: 9 Sep 2015 09:05
B
Baujulchen
Hello,
first, a brief introduction.
We (my better half and main breadwinner^^, 52, and I, 44) are facing a new challenge.
Due to an expected job change (within the same company, so no new probation period, etc.), we expect to move again in about 3 years.
Our child will almost be finished with university by then and will be independent. He will probably stay in our region at first, as he studies in a practical training network and already has a job opportunity lined up.
We built once before in 1996/1997—a small prefabricated house at a fantastic price. There was a great offer for families with a major bank and a regional prefab manufacturer. We were able to buy the land quite cheaply from the municipality back then. Due to relatively high interest rates (compared to now^^), we are now close to paying off the mortgage.
We will be finished with the “new start” almost exactly by then.
The current house has a great layout, and with 107m2 (1150 sq ft) of living space, with little hallway and good room distribution, it was more than enough space for a family with one child.
There were few defects back then, and overall, we were very satisfied with the decision to build a prefab house. We were also a bit lucky because the company went bankrupt three years after we moved in.
About our plans now:
Plot prices in the region we expect to move to are around 40-45€/m2 (about $4.50-$5.00 per sq ft), fully serviced. We do NOT want a huge garden, as we see with our parents that, at a certain age, you just can’t maintain everything as you’d like. 600m2 (about 6500 sq ft), if the layout fits a bungalow on it, will be more than enough for our needs.
We plan about 110-115m2 (1180-1240 sq ft) of living space, all on one level (we’re not getting any younger ;-) ) with a partly covered terrace, possibly a garage or carport, and if the price works out, maybe a partial basement. A basement is not absolutely necessary—we don’t have one now and manage with a crawl space. You learn not to keep everything ;-)
We want a bedroom, possibly with a walk-in closet, a bathroom with bathtub AND shower, a guest room/office, and possibly an additional guest toilet with a shower. Depending on whether there is a basement or not, maybe the option for a sauna (sigh... I've always wanted one^^).
An open space plan (living room, dining room, kitchen) is under consideration.
Of course, I’ve started researching... and it was almost overwhelming... at our time, there were just a handful of well-known prefab companies, some of which actually still exist.
How should we best approach this? I have absolutely no idea about current energy standards, what is possible, what is necessary, and how that might affect related financing (we are calculating about 150,000€ (about $160,000) of own capital, partly from the sale of the current house, if all goes well).
KfW 40/55/70?? Passive house, geothermal energy... until last week, these were all completely new “words” for me, and now I’m starting to read up on them. But how deeply do I need to get into this?
The planned move would possibly be around mid-2018, so there is plenty of time to plan and gather information.
Many things that we added to the current house over time we would like to have again, for example, a large covered terrace with automatic sun protection, solar panels for hot water, a walk-in shower, electric roller shutters, possibly with sun sensors, etc.
Ideally, we would like everything from a single source, as we don’t have much time. Because we cannot be on site all the time (about 300km (190 miles) between current home and new location), we need someone we can 100% rely on (I know, that’s utopia ;-) ).
How would you approach this situation?
Thanks in advance—I’m hoping for one or two tips regarding planning and implementation.
dat Baujulchen :-)
first, a brief introduction.
We (my better half and main breadwinner^^, 52, and I, 44) are facing a new challenge.
Due to an expected job change (within the same company, so no new probation period, etc.), we expect to move again in about 3 years.
Our child will almost be finished with university by then and will be independent. He will probably stay in our region at first, as he studies in a practical training network and already has a job opportunity lined up.
We built once before in 1996/1997—a small prefabricated house at a fantastic price. There was a great offer for families with a major bank and a regional prefab manufacturer. We were able to buy the land quite cheaply from the municipality back then. Due to relatively high interest rates (compared to now^^), we are now close to paying off the mortgage.
We will be finished with the “new start” almost exactly by then.
The current house has a great layout, and with 107m2 (1150 sq ft) of living space, with little hallway and good room distribution, it was more than enough space for a family with one child.
There were few defects back then, and overall, we were very satisfied with the decision to build a prefab house. We were also a bit lucky because the company went bankrupt three years after we moved in.
About our plans now:
Plot prices in the region we expect to move to are around 40-45€/m2 (about $4.50-$5.00 per sq ft), fully serviced. We do NOT want a huge garden, as we see with our parents that, at a certain age, you just can’t maintain everything as you’d like. 600m2 (about 6500 sq ft), if the layout fits a bungalow on it, will be more than enough for our needs.
We plan about 110-115m2 (1180-1240 sq ft) of living space, all on one level (we’re not getting any younger ;-) ) with a partly covered terrace, possibly a garage or carport, and if the price works out, maybe a partial basement. A basement is not absolutely necessary—we don’t have one now and manage with a crawl space. You learn not to keep everything ;-)
We want a bedroom, possibly with a walk-in closet, a bathroom with bathtub AND shower, a guest room/office, and possibly an additional guest toilet with a shower. Depending on whether there is a basement or not, maybe the option for a sauna (sigh... I've always wanted one^^).
An open space plan (living room, dining room, kitchen) is under consideration.
Of course, I’ve started researching... and it was almost overwhelming... at our time, there were just a handful of well-known prefab companies, some of which actually still exist.
How should we best approach this? I have absolutely no idea about current energy standards, what is possible, what is necessary, and how that might affect related financing (we are calculating about 150,000€ (about $160,000) of own capital, partly from the sale of the current house, if all goes well).
KfW 40/55/70?? Passive house, geothermal energy... until last week, these were all completely new “words” for me, and now I’m starting to read up on them. But how deeply do I need to get into this?
The planned move would possibly be around mid-2018, so there is plenty of time to plan and gather information.
Many things that we added to the current house over time we would like to have again, for example, a large covered terrace with automatic sun protection, solar panels for hot water, a walk-in shower, electric roller shutters, possibly with sun sensors, etc.
Ideally, we would like everything from a single source, as we don’t have much time. Because we cannot be on site all the time (about 300km (190 miles) between current home and new location), we need someone we can 100% rely on (I know, that’s utopia ;-) ).
How would you approach this situation?
Thanks in advance—I’m hoping for one or two tips regarding planning and implementation.
dat Baujulchen :-)
B
Baujulchen10 Sep 2015 06:01Hello :-)
Our budget is certainly quite solid, but we definitely don’t want to use it up entirely :-)
Worst case: the possibility of “nothing at all”
is perhaps not completely unrealistic. Selling quickly is not common here... so we are already setting the expectations quite low.
If it doesn’t sell, it would very likely be rented out well for the time being, because that works here at good prices.
But then a large chunk of equity would be missing, and we would probably drop the idea altogether.
So renting above might be more likely until it’s sold.
Our budget is certainly quite solid, but we definitely don’t want to use it up entirely :-)
Worst case: the possibility of “nothing at all”
is perhaps not completely unrealistic. Selling quickly is not common here... so we are already setting the expectations quite low.
If it doesn’t sell, it would very likely be rented out well for the time being, because that works here at good prices.
But then a large chunk of equity would be missing, and we would probably drop the idea altogether.
So renting above might be more likely until it’s sold.
Baujulchen schrieb:
hello 🙂
then probably better to rent upstairs until sold, I guessI think the idea is very good. It has several advantages.
First, you will probably be able to save a bit more equity.
Second, your equity will increase significantly once your house is sold, and you will know exactly what you will get.
Third, you will get a feeling for your new neighborhood and can better identify where exactly you want to live.
Fourth, you can visit construction companies, developers, architects, etc. much more easily in person.
Fifth, you will be on site and can closely follow your build in person.
PS: In Braunschweig, there are also a few show homes that you can visit.
In Hannover, there are two show home parks. It’s definitely worth visiting, as you can get good ideas there. It’s best to arrange an appointment with a company in advance, so you can also save the admission fee at the prefabricated house park ;-)
B
Baujulchen10 Sep 2015 08:57Many important points you mention. Thank you! It all makes perfect sense.
And no one is rushing us :-)
We will definitely rent for 2 years, or rather my husband will.
So we will already be on site, although not with a lot of time.
Model homes in Braunschweig? I only know a few in Rüningen. Is that what you mean?
Otherwise, I will google that again.
In Hanover, I know the model home park in Langenhagen. I will also check again for the second one you mentioned there.
Many thanks
And no one is rushing us :-)
We will definitely rent for 2 years, or rather my husband will.
So we will already be on site, although not with a lot of time.
Model homes in Braunschweig? I only know a few in Rüningen. Is that what you mean?
Otherwise, I will google that again.
In Hanover, I know the model home park in Langenhagen. I will also check again for the second one you mentioned there.
Many thanks
Koempy schrieb:
It’s best to schedule an appointment with a company right away; that way, you can avoid paying the entrance fee at the prefabricated house exhibition park ;-) Great! In snobbish Munich, you still have to pay.
Müllerin schrieb:
Great! In the snobbish Munich area you still have to pay 😉 I cannot confirm that. For all consultation appointments here, the entrance fee was covered by the respective provider.