Hello everyone,
My wife, my daughter, and I are looking to build our own home (single-family house). We might have a second child in the future. The house will be built in the postal code area 77XXX. Since I have a very time-consuming job and I’m not very skilled with DIY work, I want to have the whole project delivered as move-in ready as possible, without too much coordination effort. What is the best way to achieve this?
Our requirements:
- 5 rooms with two bathrooms that have showers (children’s bathroom)
- This summer showed me that I don’t want to build a house without cooling. I’m open regarding the cooling concept, but I have heard good things about heat pumps including a cooling function plus a photovoltaic system. What are sensible options? Underfloor heating / wall heating / ceiling cooling?
- A complicated/individual ground floor layout because I want to integrate a home cinema (my hobby) into the living room. Cooperation with the home cinema installer will also be necessary. If anyone has experience with how to manage this, I would appreciate any advice.
- Lighting and roller shutters should be smart. Here the question arises whether to go for retrofit solutions (Philips Hue) or a bus system like KNX combined with home automation such as RTI or Control4?
- No specific requirements regarding the exterior design. I would also consider a mono-pitched roof to install a full photovoltaic system facing south and keep the rest of the building simple, square, and practical.
- Avoid sloped ceilings upstairs, which also speaks in favor of a mono-pitched or hipped roof (urban villa style).
How should all this be financed?
He: net income 5,500 € (tendency rising)
She: net income 800 € (we don’t count on this, since a second child might be coming)
Equity: 30,000 € saved within one year. Within the next few years, there might also be an inheritance of 250,000 €. I would consider buying a suitable plot now even without much equity and use the remaining money/inheritance for additional loan repayments. What do you think about that?
Best regards!
My wife, my daughter, and I are looking to build our own home (single-family house). We might have a second child in the future. The house will be built in the postal code area 77XXX. Since I have a very time-consuming job and I’m not very skilled with DIY work, I want to have the whole project delivered as move-in ready as possible, without too much coordination effort. What is the best way to achieve this?
Our requirements:
- 5 rooms with two bathrooms that have showers (children’s bathroom)
- This summer showed me that I don’t want to build a house without cooling. I’m open regarding the cooling concept, but I have heard good things about heat pumps including a cooling function plus a photovoltaic system. What are sensible options? Underfloor heating / wall heating / ceiling cooling?
- A complicated/individual ground floor layout because I want to integrate a home cinema (my hobby) into the living room. Cooperation with the home cinema installer will also be necessary. If anyone has experience with how to manage this, I would appreciate any advice.
- Lighting and roller shutters should be smart. Here the question arises whether to go for retrofit solutions (Philips Hue) or a bus system like KNX combined with home automation such as RTI or Control4?
- No specific requirements regarding the exterior design. I would also consider a mono-pitched roof to install a full photovoltaic system facing south and keep the rest of the building simple, square, and practical.
- Avoid sloped ceilings upstairs, which also speaks in favor of a mono-pitched or hipped roof (urban villa style).
How should all this be financed?
He: net income 5,500 € (tendency rising)
She: net income 800 € (we don’t count on this, since a second child might be coming)
Equity: 30,000 € saved within one year. Within the next few years, there might also be an inheritance of 250,000 €. I would consider buying a suitable plot now even without much equity and use the remaining money/inheritance for additional loan repayments. What do you think about that?
Best regards!
Zaba12 schrieb:
For 500,000€ in Baden-Württemberg, including notary and land registry fees, the additional purchase costs are just under 8%. So about 40,000€It depends on whether I have to pay on the entire package or just the land. But I suspect it’s on the package. I will clarify this during the appointment.Best regards
Rock is classified as excavation soil in our case.
Z.0 does not specify whether it is topsoil or rock. Z.0 is the contamination class.
Excavation soil including rock costs 5 euros.
Construction debris Z.0 from 24 euros.
Up to around 80 euros (2017) for Z.3, but there are also significant transportation costs. The landfill for Z.3 is 90 km (56 miles) away. The one for excavation soil is 4 km (2.5 miles) away, and for Z.0 and Z.1 it is 20 km (12 miles).
Z.0 does not specify whether it is topsoil or rock. Z.0 is the contamination class.
Excavation soil including rock costs 5 euros.
Construction debris Z.0 from 24 euros.
Up to around 80 euros (2017) for Z.3, but there are also significant transportation costs. The landfill for Z.3 is 90 km (56 miles) away. The one for excavation soil is 4 km (2.5 miles) away, and for Z.0 and Z.1 it is 20 km (12 miles).
Nikless schrieb:
It depends on whether I have to pay taxes on the package or the land. But I assume on the package. I will discuss this during the appointment.
Best regards Of course, you have to pay property tax on the package. What else did you expect?!
If the land and house come from the same provider, it’s a linked transaction. Don’t let anyone tell you otherwise. That’s why I asked if it’s a developer or a general contractor. But the tax office will clarify that in the end.
Now, let’s do some math: 500,000 euros + 40,000 euros + additional equity investment makes 540,000 euros (about 595,000 USD).
The case from the other thread, with the same conditions and loan, gets an interest rate of 2.6% for 15 years.
That results in a monthly payment with 2% principal repayment of 2,070 euros (about 2,280 USD), plus additional costs, so a total of 2,500 euros (about 2,760 USD) for living expenses.
Right, I got it mixed up.
haydee schrieb:
Rock is classified as excavation material for us.
Zone 0 doesn’t specify whether it’s topsoil or rock. Zone 0 is the contamination class.
Excavation material including rock costs 5 euros
Construction waste Zone 0 from 24 euros
Up to around 80 euros (2017) for Zone 3, but then there are huge transportation costs. The landfill for Zone 3 is 90 km (56 miles) away. The one for excavation material is 4 km (2.5 miles), and for Zones 0 and 1 it’s 20 km (12 miles).
So far, I have an offer for 2% interest over 10 years. But with the assumptions of 2000+500, I have calculated the worst case. I can manage that. If everything goes normally, my salary will increase significantly, and there will also be some contribution from my wife. However, I expect to get better interest rates. I will report back once I have something concrete.
Best regards
Best regards
At 10 years, the interest rate will be better than in the worst-case scenario, of course. Did you tell the bank that your equity isn’t even enough to cover the additional purchase costs? For me, the difference between 10 and 15 years was exactly 0.4%.
So you would be looking at an interest rate of 2.2% with a 10-year fixed term.
Why only 10 years for that amount? Are you assuming you can fully repay the remaining debt of €420,000 (about $455,000) after 10 years, or that interest rates won’t rise?
It’s really crazy—your remaining debt after 10 years is higher than my current loan amount at the start.
So you would be looking at an interest rate of 2.2% with a 10-year fixed term.
Why only 10 years for that amount? Are you assuming you can fully repay the remaining debt of €420,000 (about $455,000) after 10 years, or that interest rates won’t rise?
It’s really crazy—your remaining debt after 10 years is higher than my current loan amount at the start.