Hello everyone,
I am currently single and a civil servant, earning about €2000 net. I also have savings of €20,000 and no debts.
I am determined to have a turnkey house built. I downloaded the program Sweet Home 3D and played around with it a bit (photos attached).
My idea was to present these images to an architect so they can roughly implement the design and have the house built turnkey. No basement and a hip roof for solar panels on the roof.
My questions are:
1. What do you think of the design? Any suggestions for improvement, or are some things not doable at all?
2. What would the total costs be, including everything, if I hired an architect, excluding the land, interior fittings, and painting work?
3. If I need more space later, I want to build above the garage. Is that a good idea?
4. How large should the plot be for this house? (I dislike gardening, so I don’t need much outdoor space)
5. How much loan could I get? If relevant, I don’t mind the location, which might save on land costs.
Thanks.
I am currently single and a civil servant, earning about €2000 net. I also have savings of €20,000 and no debts.
I am determined to have a turnkey house built. I downloaded the program Sweet Home 3D and played around with it a bit (photos attached).
My idea was to present these images to an architect so they can roughly implement the design and have the house built turnkey. No basement and a hip roof for solar panels on the roof.
My questions are:
1. What do you think of the design? Any suggestions for improvement, or are some things not doable at all?
2. What would the total costs be, including everything, if I hired an architect, excluding the land, interior fittings, and painting work?
3. If I need more space later, I want to build above the garage. Is that a good idea?
4. How large should the plot be for this house? (I dislike gardening, so I don’t need much outdoor space)
5. How much loan could I get? If relevant, I don’t mind the location, which might save on land costs.
Thanks.
It’s all a matter of location, personal circumstances, and cost. Do you plan to live there for the next 20 years? What is the real estate market like? How long do you intend to finance the property? You should expect that, even with a standard condominium, additional costs and renovations can amount to the equivalent of 3-4 years’ rent. If you plan to live there for the rest of your life, that’s not a problem. But if your time horizon is only 5-10 years, that’s a different story.
The planned construction is a) financially unrealistic and b) due to the unusual layout, it will be difficult to resell. If that’s the case, I would choose an affordable house from Town & Country and convert the children’s rooms into your hobby room and guest room. Depending on the real estate market, that type of property can be resold.
The planned construction is a) financially unrealistic and b) due to the unusual layout, it will be difficult to resell. If that’s the case, I would choose an affordable house from Town & Country and convert the children’s rooms into your hobby room and guest room. Depending on the real estate market, that type of property can be resold.
Slade schrieb:
I can save €10,000 per year, so I could rent for another 3 years and then maybe start something with €50,000, right? By then, I might also find a partner.
But one thing I have to know. Should I build a house or buy one? In this case, my impression is that it might be best to rent for 3 more years and focus on maturing first. Saving 10,000 euros per year as a single person is definitely not a bad idea.
B
backbone232 Mar 2015 22:46Slade schrieb:
One thing I need to know. Build a house or buy one?Why do you need to decide now? What if I say "buy" and in a few years there are no suitable properties on the market? Both options have their pros and cons.
Just keep saving diligently and find the partner for life. 😉 In a few years, you can reconsider property again.
Alternatively, move to the countryside and keep animals, adopt children, buy a house for a shared flat, or live with three fun seniors.
It is a fact that currently a savings account is not a good investment; land is not the worst option if you know exactly where you want to go.
It is a fact that currently a savings account is not a good investment; land is not the worst option if you know exactly where you want to go.
You are a civil servant. That means a secure job, once you have lifetime tenure. But what about your place of work? Are you employed at a state or federal agency? Keep in mind transfers. These don’t always happen voluntarily—department closures and task relocations occur regularly. Also, Lower Saxony is quite large.
At your age, if you decide to finance a property, I would recommend a one- or two-room apartment. Maybe even somewhat older, if the price and especially the location are right. For example, a big city or metropolitan area with good prospects, possibly with universities and technical colleges, so you can rent out the apartment later or potentially sell it at a profit. But even if you sell it after about five years for around the same price, you have saved on rent for five years.
But take things slowly and don’t rush into it. Think carefully about your career future—where will you be in five years? Regardless of whether you find a partner or not. Because finding a partner at 25 and immediately starting to build a house is a big step. Perhaps "she" has completely different plans. So, either keep renting or finance a small apartment.
At your age, if you decide to finance a property, I would recommend a one- or two-room apartment. Maybe even somewhat older, if the price and especially the location are right. For example, a big city or metropolitan area with good prospects, possibly with universities and technical colleges, so you can rent out the apartment later or potentially sell it at a profit. But even if you sell it after about five years for around the same price, you have saved on rent for five years.
But take things slowly and don’t rush into it. Think carefully about your career future—where will you be in five years? Regardless of whether you find a partner or not. Because finding a partner at 25 and immediately starting to build a house is a big step. Perhaps "she" has completely different plans. So, either keep renting or finance a small apartment.