ᐅ Realistic cost planning

Created on: 30 Apr 2016 18:27
S
speed_55
S
speed_55
30 Apr 2016 18:27
Hello fellow home builders,
we are currently planning to build a house. It is not yet decided whether it will be a prefabricated house or a solid construction. We will only be able to contribute "cosmetic work" as labor — so it will most likely be a turnkey delivery or one stage before that.
Here are the main facts:
- Building plot 500–750 sqm (currently not owned, estimated cost 75,000 EUR)
- No basement
- Living area 140 sqm (1,507 sqft)
- Double garage (with storage space as basement replacement)

In terms of quality, we expect decent good (average) quality but no luxury features =).

Since we do not have a plot yet, several prefabricated house companies have not provided us with quotes. However, we want to do cost planning first and then buy a plot if the numbers look good, so a cost estimate is urgently needed.
Therefore, we would be interested in your estimates/experiences regarding the following items:

Building plot: 75,000 EUR
House: ?
Garage: ?
Additional construction costs (baunebenkosten): ?
Exterior work/landscaping: ?
Furniture/kitchen: ?
Total costs: ?

What do you think: solid construction or prefabricated house?
How do they differ in price?

Thank you very much for your answers
L
Legurit
30 Apr 2016 18:58
Building plot: 75,000 EUR
House: 230,000 EUR
Garage: 15,000 EUR
Additional construction costs: 30,000 EUR
Outdoor facilities: 15,000 EUR
Furniture/Kitchen: 15,000 EUR
Total costs: 380,000 EUR + 20,000 EUR buffer ==> 400,000 EUR

I have no expert knowledge, but this is my estimate for turnkey delivery including floor coverings and painting work.

What kind of furniture do you need!? So far, we have spent €7,500 on furniture, lamps, etc., and we are not done yet. But we moved from a 70 m² (750 sq ft) rental apartment – meaning that the 15,000 EUR budget assumes you already have furniture and maybe just need a few additional items here and there.
S
speed_55
30 Apr 2016 19:43
We currently live in an 85m² (915 sq ft) apartment, so we already have some furniture, but we will definitely need more. Especially a kitchen, which will make everything more expensive...

Are you thinking about the costs for a solid construction house or a prefab house?

We recently had a meeting at the bank, and they estimated the costs at €444,000. We were really shocked by this price, and it would be too expensive for us.
Y
ypg
30 Apr 2016 19:57
Prefabricated houses tend to be somewhat more expensive in the single-family home sector of this size.
L
Legurit
30 Apr 2016 20:06
I have even less knowledge about solid / precast houses.
What would be affordable for you? x * 0.05 / 12 = monthly payment --> x = loan amount
For example, 1400 € / 0.05 * 12 = 336,000 loan + equity = maximum house price
S
speed_55
30 Apr 2016 20:20
We do not want to pay off the house in more than 20 years, so we do not want to spend more than 400,000 € in total.