Hi Homeowners! I have a rather silly question for you.
First, a bit about me: I’m a fresh 18 years old and dealing with extreme everyday stress plus very serious family problems. My financial future looks pretty bleak as well. The main issue is this: I just can’t take it anymore, I want to get away from everything, have some peace, be alone, and relax, or else the stress will kill me. That’s why I’ve been thinking, how about having my own house? Well, of course, I don’t have the money for that. But with a lot of work, I could come up with about 15,000 euros (around $16,500).
Then I had an idea: a standard ready-made garage usually costs around 3,000 euros (around $3,300). So why not just build a cheap double garage, save on the expensive door, and live in it like a bungalow? Just a ground floor, about 30 square meters (about 320 square feet) of living space. Do you think it’s possible to simply build a larger prefab garage on an affordable piece of land, insulate it, install electricity, gas, and water connections, and live in it? Without furnishings — just the basic construction — shouldn’t 10,000 euros (around $11,000) be enough? That would basically be a small condominium in the form of a little house.
Is this legally feasible and does my cost estimate make sense? Please, no lectures about other options — I’m really fed up, I need to get away from everything. I can manage 15,000 euros (around $16,500), and a small foreclosed plot for 5,000 euros (around $5,500) is easy to find. What do you think?
First, a bit about me: I’m a fresh 18 years old and dealing with extreme everyday stress plus very serious family problems. My financial future looks pretty bleak as well. The main issue is this: I just can’t take it anymore, I want to get away from everything, have some peace, be alone, and relax, or else the stress will kill me. That’s why I’ve been thinking, how about having my own house? Well, of course, I don’t have the money for that. But with a lot of work, I could come up with about 15,000 euros (around $16,500).
Then I had an idea: a standard ready-made garage usually costs around 3,000 euros (around $3,300). So why not just build a cheap double garage, save on the expensive door, and live in it like a bungalow? Just a ground floor, about 30 square meters (about 320 square feet) of living space. Do you think it’s possible to simply build a larger prefab garage on an affordable piece of land, insulate it, install electricity, gas, and water connections, and live in it? Without furnishings — just the basic construction — shouldn’t 10,000 euros (around $11,000) be enough? That would basically be a small condominium in the form of a little house.
Is this legally feasible and does my cost estimate make sense? Please, no lectures about other options — I’m really fed up, I need to get away from everything. I can manage 15,000 euros (around $16,500), and a small foreclosed plot for 5,000 euros (around $5,500) is easy to find. What do you think?
B
backbone2322 Jun 2013 13:38I believe you have been taken seriously here; otherwise, individual users (e.g., Der Da) wouldn’t have written lengthy posts or taken the time to read and give you the only sensible advice (rent!).
But let’s start again: You want to move out, but under no circumstances do you want to enter into a rental agreement.
If I understand correctly, you haven’t saved any money so far (or how much do you have saved?).
Your suggestions (garage, small modular home, wooden bungalow) will all probably cost around 30,000 € before you can live in them. On top of that, there are electricity, water, and wastewater costs, plus some kind of foundation. Let’s say an additional 7,500 € (about $8,000). You also need a plot of land where building is permitted (which could be legally difficult). If you have to buy land, additional costs such as property transfer tax and notary fees will apply.
And you still have to furnish the place…
How do you plan to finance all this? I can hardly imagine a bank approving this. Even if they did, it would be difficult for you unless you have a permanent employment contract. The same applies to financing a condominium. Especially since you mention that your financial outlook is rather uncertain (why?). How can you even consider homeownership then?
I can only strongly recommend that you look for a small apartment or a shared flat. This provides security (in terms of predictable costs), you have your own space, and you can relax and unwind…
And honestly, I wouldn’t want to live in a garage, nor in a small modular home with a floor space of approximately 7 m² (about 75 sq ft).
But let’s start again: You want to move out, but under no circumstances do you want to enter into a rental agreement.
If I understand correctly, you haven’t saved any money so far (or how much do you have saved?).
Your suggestions (garage, small modular home, wooden bungalow) will all probably cost around 30,000 € before you can live in them. On top of that, there are electricity, water, and wastewater costs, plus some kind of foundation. Let’s say an additional 7,500 € (about $8,000). You also need a plot of land where building is permitted (which could be legally difficult). If you have to buy land, additional costs such as property transfer tax and notary fees will apply.
And you still have to furnish the place…
How do you plan to finance all this? I can hardly imagine a bank approving this. Even if they did, it would be difficult for you unless you have a permanent employment contract. The same applies to financing a condominium. Especially since you mention that your financial outlook is rather uncertain (why?). How can you even consider homeownership then?
I can only strongly recommend that you look for a small apartment or a shared flat. This provides security (in terms of predictable costs), you have your own space, and you can relax and unwind…
And honestly, I wouldn’t want to live in a garage, nor in a small modular home with a floor space of approximately 7 m² (about 75 sq ft).
I just read the posts here.
Regarding converting a garage, living cubes, etc., you’ve already read quite a bit.
You also asked about condominiums. Well – that’s hard to answer. It always depends on the area where you live. In some cases, the topic of forced auctions might be helpful.
When I looked into this in Kaiserslautern, I saw studio apartments with a market value below 5,000 euros (which you might not necessarily have to bid on). The problem is that if you can’t inspect beforehand, you might be buying a pig in a poke (a run-down property, unknown additional costs, and so on). You should also familiarize yourself with the rules of the process and always review the file at the local court first for any interesting offer (and, as I said, ideally visit the property before the bidding process).
I know you don’t want to hear about child welfare services, but have you perhaps considered supported housing? If that works out, it could help you regain emotional stability and refocus on important things (school?). You would be out and could plan calmly and without pressure.
Wishing you all the best.
Regarding converting a garage, living cubes, etc., you’ve already read quite a bit.
You also asked about condominiums. Well – that’s hard to answer. It always depends on the area where you live. In some cases, the topic of forced auctions might be helpful.
When I looked into this in Kaiserslautern, I saw studio apartments with a market value below 5,000 euros (which you might not necessarily have to bid on). The problem is that if you can’t inspect beforehand, you might be buying a pig in a poke (a run-down property, unknown additional costs, and so on). You should also familiarize yourself with the rules of the process and always review the file at the local court first for any interesting offer (and, as I said, ideally visit the property before the bidding process).
I know you don’t want to hear about child welfare services, but have you perhaps considered supported housing? If that works out, it could help you regain emotional stability and refocus on important things (school?). You would be out and could plan calmly and without pressure.
Wishing you all the best.
B
backbone2322 Jun 2013 15:44Now someone is planting that idea in his head as well.
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