ᐅ We are planning to build a house or have one built, but how do we go about it?

Hello,

First of all, I hope this is the right place to ask. I just signed up.

My girlfriend and I are planning to get married soon, and since we currently live in a two-room apartment and really want to have a house, we want to start working on this after the wedding. We have already looked at some used houses, but they were far too expensive because many renovations were needed. That’s why we decided that building new would be best.

We both earn 1500 euros each, so 3000 euros net in total (we don’t have children yet, but one is planned soon). We have saved 20,000 euros. It’s not much, but at least it’s something.

My parents built their house 10 years ago, so my father has a lot of experience in this area. However, since he is already 50 years old, I don’t want to burden him with a construction site, and I have no idea how to do any of it myself.

We contacted a solid construction company that wanted to sell us a single-family house with land for 210,000 euros, but without a garage or landscaping. That’s quite expensive, especially since we will still need to buy furniture and other items.

I don’t know how much it would cost if we arranged everything ourselves through various contractors, nor do I know how to find out.

My actual question is what you would do or have done in this situation. Plots of land around 500 to 600 square meters (5400 to 6500 square feet) cost about 65,000 euros. We don’t want to repay more than 700 euros per month on a loan, so that means a total budget of about 170,000 euros (including our 20,000 euros savings). This has to cover everything.

Some of you might laugh at me now, but as I said, I have no experience in this area. Sorry.

A garage is not very important at the beginning; it can be built later. However, the house should have the following features: underfloor heating, a fireplace, tiles on the ground floor, and finished landscaping.

What do you think?

Hello,

without significant own work, it probably won’t be possible... at most, only the building materials would be covered.

Best regards

This is how I imagined it.
We want to spend a total of 170,000 euros. We have 20,000 euros, so we need to finance 150,000 euros. I think this would be possible with a net income of around 3,000 euros, even if we have a child during that time, the net income would be about 2,500 euros. Or am I wrong? The repayment rate to the bank would be 700 euros.
So for a new build costing 170,000 euros minus the land (about 65,000 euros), that would leave 105,000 euros for the house.
Is this not possible at all with a new build?

Hello,

105,000 euros minus 20% additional costs is about 85,000 euros.

That would theoretically be between 60-70 square meters (645-753 square feet).
Since construction costs are actually rising for smaller houses,
that won’t be possible.

Best regards

There must be some kind of calculation rule to estimate the costs, right?
For example, 20 euros per square meter (about 2.15 dollars per square foot) or something like that.

If so, what does that include? Just the house, or also the land and additional costs?

1200 to 1500 EUR / sqm
Shell construction 400 to 500 EUR / sqm without building services

*With the 2009 Energy Saving Ordinance, the lower limit will likely increase.