Hey everyone, I’m new here.
A quick introduction... I work as a HVAC mechatronics technician at a large company where I’m also involved in new ventilation installations, etc. My fiancée is a special needs caregiver. Currently, we pay 800€ rent without utilities for a 2-room apartment. Including utilities, it’s around 1000€. We manage this comfortably and often go on vacation or afford many extras.
Now, I want to build a prefabricated house. Our total budget is 250,000€. The plot costs about 90,000€, so the house itself can cost 150,000€. We have received many offers from Allkauf Haus, Ling4you, and Massa Haus, but there are so many it’s hard to keep track.
I can do a lot myself. I will handle electrical work, plumbing, and underfloor heating. The basement will be partially finished as well. The Allkauf Haus offer for 157,000€ is currently our top choice.
We could comfortably afford a monthly payment of around 1200€ including utilities. Is that amount too low for a house or is it normal?
I will do drywall, tiles, and flooring myself.
Euromac2 is also very affordable—does anyone have experience with them?
Thanks a lot!!!
A quick introduction... I work as a HVAC mechatronics technician at a large company where I’m also involved in new ventilation installations, etc. My fiancée is a special needs caregiver. Currently, we pay 800€ rent without utilities for a 2-room apartment. Including utilities, it’s around 1000€. We manage this comfortably and often go on vacation or afford many extras.
Now, I want to build a prefabricated house. Our total budget is 250,000€. The plot costs about 90,000€, so the house itself can cost 150,000€. We have received many offers from Allkauf Haus, Ling4you, and Massa Haus, but there are so many it’s hard to keep track.
I can do a lot myself. I will handle electrical work, plumbing, and underfloor heating. The basement will be partially finished as well. The Allkauf Haus offer for 157,000€ is currently our top choice.
We could comfortably afford a monthly payment of around 1200€ including utilities. Is that amount too low for a house or is it normal?
I will do drywall, tiles, and flooring myself.
Euromac2 is also very affordable—does anyone have experience with them?
Thanks a lot!!!
And 1200 euros can be a lot or very little! That’s why my question is: Do you have the capital available? How old are you? When the bank calculates, you can be sure they will add around 300 euros for additional costs to the 1200 euro installment, plus 100 euros for maintenance, and at least 1200 euros for living expenses for two people.
And “turnkey” doesn’t mean much—externally, for example, everything can still be just a shell without backfilling, no utility connections, etc.
Pay close attention to the term “provided by the builder” (bauseits); all of this must be paid for separately. This can include construction power supply (including the distribution box), access roads, construction toilet, and so on.
And “turnkey” doesn’t mean much—externally, for example, everything can still be just a shell without backfilling, no utility connections, etc.
Pay close attention to the term “provided by the builder” (bauseits); all of this must be paid for separately. This can include construction power supply (including the distribution box), access roads, construction toilet, and so on.
Ok, I will need to check again regarding the plots, this information is new to me, many thanks. I always thought that fully serviced land with a building permit was sufficient....
Equity is about €30,000, we are 25 and 31 years old, and I meant a total of €1,200 including utilities, so for rent excluding utilities I calculated about €800-850.
Equity is about €30,000, we are 25 and 31 years old, and I meant a total of €1,200 including utilities, so for rent excluding utilities I calculated about €800-850.
And a lot of the work has to be done by yourself. All of these tasks combined would take professional teams several people working together for several months. If you mostly do it alone for a few hours in the evenings or on weekends, it will take you more than a year, during which you will have no time for anything else besides work and the house. Don’t underestimate this, it can be very exhausting. Also, Allkauf Haus and similar companies supply the material, but not the tools and all the consumables. That would add quite a lot of extra costs for you. Looking at the budget, I would agree with the initial responses: either increase the budget or reduce the area (no basement, about 120sqm (1300 sq ft) or similar). Then it could work with a lot of own work and low expectations.
The topic of outdoor landscaping was also mentioned, and it did not mean luxury, but basic things (yes, you could basically enter the house over a Euro pallet and park in a mud pit for two years instead), and that already quickly adds up to around 10,000 euros.
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The topic of outdoor landscaping was also mentioned, and it did not mean luxury, but basic things (yes, you could basically enter the house over a Euro pallet and park in a mud pit for two years instead), and that already quickly adds up to around 10,000 euros.
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First of all, you should check with your bank what you can afford. Your maximum monthly payment determines the loan repayment, but you need to discuss the interest rate and repayment period with the bank. This will establish the loan amount, which, together with your equity, forms your available budget.
From this budget, you will then pay for
By the way, the costs mentioned above will also increase: Take a close look at the zoning plan, as it often contains some unpleasant surprises. For example, we had to build a cistern, which added another €5,000–6,000 (about $5,500–6,600). Or our external landscaping must be completed by July next year; otherwise, the municipality may impose additional fees on the land.
Incidentally, a building permit applies not to the land but to the house to be built on it. So you do not yet have a building permit! The permit and its costs depend on what is allowed to be built and how you intend to use or possibly exceed those allowances.
From this budget, you will then pay for
- the land, plus additional costs such as notary fees and mortgage registration, possibly real estate agent fees
- ancillary building costs (utility connections, earthworks, etc.)
- the basement and the house in shell construction
- interior finishing
- external landscaping
By the way, the costs mentioned above will also increase: Take a close look at the zoning plan, as it often contains some unpleasant surprises. For example, we had to build a cistern, which added another €5,000–6,000 (about $5,500–6,600). Or our external landscaping must be completed by July next year; otherwise, the municipality may impose additional fees on the land.
Incidentally, a building permit applies not to the land but to the house to be built on it. So you do not yet have a building permit! The permit and its costs depend on what is allowed to be built and how you intend to use or possibly exceed those allowances.
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Bieber081517 Oct 2016 12:26Uwe82 schrieb:
And from this budget, you then pay Very good post! On top of that, there are construction period interest charges (and possibly commitment fees) as well as expenses (surveyor, topping-out ceremony, travel costs, etc.).
Regarding the question of how far 1200 euros will go: as a rule of thumb, you can calculate with an annuity of 5% (i.e., initial repayment rate plus interest rate equals annuity). If the monthly payment is supposed to be 1200 euros, this results in a loan amount of 1200 euros * 12 / 5% = 288,000 euros.