ᐅ Plot of land in sight – which home builder is the right choice?
Created on: 17 Sep 2016 14:11
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miet-er
Hello everyone,
We have a building plot under purchase option and are now looking for a suitable provider for a prefabricated or solid house of around 160m2 (1,722 sq ft).
While choosing a car manufacturer wouldn’t be difficult for us in terms of finding an affordable brand, the market of prefabricated house providers seems confusing, and we can’t identify the distinguishing features (which provider is the Porsche, which is the Skoda, and which is the Lada among prefabricated/solid house builders?). Is anyone able to clarify this? So far, we have received price estimates above 300,000 euros (without additional building costs) from providers like Haacke or Fingerhaus (turnkey). Are these premium providers, or should we generally expect to pay such (high) sums for turnkey houses? Are there reputable providers who offer more affordable options? To continue the car comparison, we don’t need an 8-cylinder engine, but we also don’t want a “beater” that will start falling apart soon.
Thank you very much for your input,
miet-er
We have a building plot under purchase option and are now looking for a suitable provider for a prefabricated or solid house of around 160m2 (1,722 sq ft).
While choosing a car manufacturer wouldn’t be difficult for us in terms of finding an affordable brand, the market of prefabricated house providers seems confusing, and we can’t identify the distinguishing features (which provider is the Porsche, which is the Skoda, and which is the Lada among prefabricated/solid house builders?). Is anyone able to clarify this? So far, we have received price estimates above 300,000 euros (without additional building costs) from providers like Haacke or Fingerhaus (turnkey). Are these premium providers, or should we generally expect to pay such (high) sums for turnkey houses? Are there reputable providers who offer more affordable options? To continue the car comparison, we don’t need an 8-cylinder engine, but we also don’t want a “beater” that will start falling apart soon.
Thank you very much for your input,
miet-er
Ok, so if you say these are market-standard prices, I still feel that €2000 per square meter (approximately $215 per square foot) is too expensive. This is probably due to the excess liquidity. My savings haven’t earned any significant interest over the last five years, while house prices have risen sharply (see construction price index below). Do I have to admit that I’m too late, or can someone encourage me that these amounts are realistic and affordable (around €500,000 for a plot with a house and garage, etc., with approximately 40% equity)?
I have no idea how to handle the equity declaration... you don’t want to end up completely empty-handed in the end but still need reserves after the investment. Do you declare less equity to the bank when calculating the loan, or do you borrow a bit more than you actually need for the house?
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daniels8718 Sep 2016 09:24As ypg already mentioned, no one can give you a definitive answer without more details.
A turnkey price around or below 1500€/m² (approximately $140/sq ft) usually means manually operated shutters, standard plumbing and electrical fixtures, laminate flooring up to 15€/m² (about $1.40/sq ft), and a carport instead of a garage. Additionally, hardly anyone is familiar with the prices in your region.
A turnkey price around or below 1500€/m² (approximately $140/sq ft) usually means manually operated shutters, standard plumbing and electrical fixtures, laminate flooring up to 15€/m² (about $1.40/sq ft), and a carport instead of a garage. Additionally, hardly anyone is familiar with the prices in your region.
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Bauexperte18 Sep 2016 09:55Good morning,
Your description is accurate up to this point. Beyond that, you cannot compare a car with a new build house, regardless of whether it is prefab or solid construction.
For the reputable providers mentioned above in the prefabricated house segment, these prices are realistic. They produce the building shell on assembly lines, which are not exactly inexpensive to build and also require ongoing maintenance; all of this has its cost. Additionally, a prefabricated wall is more complex to manufacture than simply laying bricks by a bricklayer using a guideline.
Actually, it’s the other way around. Do you want to build a property with lasting value, or rather a prefabricated house that, when it comes time to sell (which is never certain), might bring tears to your eyes when you see the resale price?
Building a prefabricated house is always more expensive than a conventionally built single-family home. However, even in Lower Saxony, there are quite a few reputable solid house providers. Talk to two or three of them and get a non-binding quote.
Best regards, Bauexperte
miet-er schrieb:
While we would have no trouble finding an affordable car brand, we find ourselves facing a confusing market when it comes to prefabricated house providers, where the distinguishing features are not clear to us (which is the Porsche, which is the Skoda, and which is the Lada among the prefabricated/solid house providers?)
Your description is accurate up to this point. Beyond that, you cannot compare a car with a new build house, regardless of whether it is prefab or solid construction.
miet-er schrieb:
Is anyone able to clarify this? So far, we have price offers beyond 300,000 Euro (without additional building costs) from providers like Haacke or Fingerhaus (turnkey).
For the reputable providers mentioned above in the prefabricated house segment, these prices are realistic. They produce the building shell on assembly lines, which are not exactly inexpensive to build and also require ongoing maintenance; all of this has its cost. Additionally, a prefabricated wall is more complex to manufacture than simply laying bricks by a bricklayer using a guideline.
miet-er schrieb:
Are there reputable providers that are cheaper?
Actually, it’s the other way around. Do you want to build a property with lasting value, or rather a prefabricated house that, when it comes time to sell (which is never certain), might bring tears to your eyes when you see the resale price?
Building a prefabricated house is always more expensive than a conventionally built single-family home. However, even in Lower Saxony, there are quite a few reputable solid house providers. Talk to two or three of them and get a non-binding quote.
Best regards, Bauexperte
miet-er schrieb:
or can someone still encourage me that these amounts are realistic and affordable (500,000 for a plot with house and garage, etc., with around 40% equity)?That really depends a lot on your plot. Is it in the middle of nowhere, where land costs only 70 euros per square meter, or with good infrastructure? If you spend 150,000 to 200,000 on the land, I don’t think your budget will be enough for everything else.
For 160 square meters (without a basement) of living space, in my opinion you should definitely expect to need at least 300,000 (maybe more, depending on the finishes).
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