Hello everyone,
It’s been a while, and fortunately, I’ve learned a lot since then, also thanks to many justified skeptical opinions.
Since we didn’t get the plot last year, our application for a new 555 m² (approximately 6,000 sq ft) plot under the local resident allocation model is currently with our local market. The decision on whether we will be allocated one this time will be made in September, but things look promising!
As land prices here have increased by more than €50 per m² (approximately $5 per sq ft) since last year, our budget has naturally been expanded. Our current target and maximum spending limit is €400,000 (including equity), preferably less, but that’s where we stand at the moment.
A basement is not feasible from a cost perspective, so we have decided on a single-family house with around 140–160 m² (approximately 1,500–1,700 sq ft) and a double garage with an adjoining annex at the back for garden furniture and such. Of course, it’s possible the double garage will become a single garage with a carport, but that will become clearer during detailed planning as we look for some savings to invest money better elsewhere.
Currently, we are considering between Danwood (a prefabricated house KfW70 standard) — with which two of our friends have had good experiences — and an Austrian Passive House with even greater energy efficiency due to new and special insulation.
Here is roughly my cost breakdown, now much more realistic than it was a year ago. Maybe some of you might find something that stands out.
Land: €122,100
Notary: €2,500
Property transfer tax: €1,500
Water connection: €500
Water meter connection/end device: €702
Electricity: €1,500
Telecom: €500
Multi-utility connection: €1,500
Building survey: €2,000
Building permit/planning permission application: €4,000
Grounding/earthing: €1,000
Official fees: €1,000
Multi-utility connection: €1,000
Construction electricity / water: €500
Site toilet: €250
Debris container: €900
Earthworks: €8,000
Double garage with side room and foundation slab: €20,000
Landscaping / exterior work: €8,000
Prefabricated house Danwood: €205,000 after material selection, including foundation slab
Best regards,
Dirk
It’s been a while, and fortunately, I’ve learned a lot since then, also thanks to many justified skeptical opinions.
Since we didn’t get the plot last year, our application for a new 555 m² (approximately 6,000 sq ft) plot under the local resident allocation model is currently with our local market. The decision on whether we will be allocated one this time will be made in September, but things look promising!
As land prices here have increased by more than €50 per m² (approximately $5 per sq ft) since last year, our budget has naturally been expanded. Our current target and maximum spending limit is €400,000 (including equity), preferably less, but that’s where we stand at the moment.
A basement is not feasible from a cost perspective, so we have decided on a single-family house with around 140–160 m² (approximately 1,500–1,700 sq ft) and a double garage with an adjoining annex at the back for garden furniture and such. Of course, it’s possible the double garage will become a single garage with a carport, but that will become clearer during detailed planning as we look for some savings to invest money better elsewhere.
Currently, we are considering between Danwood (a prefabricated house KfW70 standard) — with which two of our friends have had good experiences — and an Austrian Passive House with even greater energy efficiency due to new and special insulation.
Here is roughly my cost breakdown, now much more realistic than it was a year ago. Maybe some of you might find something that stands out.
Land: €122,100
Notary: €2,500
Property transfer tax: €1,500
Water connection: €500
Water meter connection/end device: €702
Electricity: €1,500
Telecom: €500
Multi-utility connection: €1,500
Building survey: €2,000
Building permit/planning permission application: €4,000
Grounding/earthing: €1,000
Official fees: €1,000
Multi-utility connection: €1,000
Construction electricity / water: €500
Site toilet: €250
Debris container: €900
Earthworks: €8,000
Double garage with side room and foundation slab: €20,000
Landscaping / exterior work: €8,000
Prefabricated house Danwood: €205,000 after material selection, including foundation slab
Best regards,
Dirk
Building with a concrete home builder is unfortunately not possible due to the interest-free period on the loan amount, the earliest possible start of construction in the development area, the construction time of the concrete home builder, and the double financial burden which we want to avoid. We have clearly and confidently chosen our provider.
It continues...
- Notary appointment for our promised plot of land in January
- Loan secured with a term of 15 years and an interest rate of 1.67%
- House contract with Danwood is signed
- House customization (windows, knee wall height, roof tiles, room layout) -> completed
- Interior house customization to follow in December
- Planned construction start possible from August
- Planned start of foundation slab in September
- Planned house delivery/placement appointment in October
- Planned move-in mid-November / beginning of December
Current points we are also pursuing:
- Double garage with one or two doors and storage room (prefabricated or concrete?)
- Kitchen planning according to floor plan (likely Ikea country style)
- Terrace roofing
I will upload detailed construction costs later; these have been extensively revised and broken down as recommended here, then we can discuss them again.
It continues...
- Notary appointment for our promised plot of land in January
- Loan secured with a term of 15 years and an interest rate of 1.67%
- House contract with Danwood is signed
- House customization (windows, knee wall height, roof tiles, room layout) -> completed
- Interior house customization to follow in December
- Planned construction start possible from August
- Planned start of foundation slab in September
- Planned house delivery/placement appointment in October
- Planned move-in mid-November / beginning of December
Current points we are also pursuing:
- Double garage with one or two doors and storage room (prefabricated or concrete?)
- Kitchen planning according to floor plan (likely Ikea country style)
- Terrace roofing
I will upload detailed construction costs later; these have been extensively revised and broken down as recommended here, then we can discuss them again.
B
Bauexperte16 Nov 2015 10:52Good morning,
I don’t understand. You have chosen a prefabricated home provider because of the negotiated, no-cost standby period. Yet, earthworks on the plot will only begin on August 16. When would a concrete/masonry builder of your choice have started construction?
Best regards, Bauexperte
DDre schrieb:
Building with a concrete/masonry home provider is unfortunately not possible due to ... the earliest possible start of construction in the building area, construction period of the concrete/masonry home provider ...
...
- Planned start of construction possible from August
- Planned start of foundation slab in September
- Scheduled house placement appointment in October
- Planned move-in mid-November / early December
I don’t understand. You have chosen a prefabricated home provider because of the negotiated, no-cost standby period. Yet, earthworks on the plot will only begin on August 16. When would a concrete/masonry builder of your choice have started construction?
Best regards, Bauexperte
N
nordanney16 Nov 2015 11:10Bauexperte schrieb:
Good morning,
I don’t understand. Due to the negotiated period without advance payment, you chose a prefabricated house provider. Yet, the groundwork for the plot won’t start until August 16. When would a traditional builder of your choice have started construction?
Regards, BauexperteMost likely, the plot can only actually be built on starting in August. In that case, the prefabricated house manufacturer is indeed faster than if the traditional builder would also only begin then.B
Bauexperte16 Nov 2015 11:13nordanney schrieb:
The plot will probably only be buildable starting in August. In that case, the prefab house manufacturer is actually faster than if the solid construction builder would also only start then. This is the only explanation that makes sense to me.
Regards, Bauexperte
Hello Dirk,
I find it a bit confusing. What makes me most skeptical, however, is the statement about the financing. How is it possible to get an interest rate of 1.6% nominal with a 90% loan-to-value ratio? When the standard interest rate at a 60% loan-to-value ratio and from 200,000 euros (or equivalent) with a discount is already 1.8% nominal? When did you arrange the financing? Regards, Gunar.
I find it a bit confusing. What makes me most skeptical, however, is the statement about the financing. How is it possible to get an interest rate of 1.6% nominal with a 90% loan-to-value ratio? When the standard interest rate at a 60% loan-to-value ratio and from 200,000 euros (or equivalent) with a discount is already 1.8% nominal? When did you arrange the financing? Regards, Gunar.