ᐅ What tasks need to be completed before signing the shell construction contract?
Created on: 5 Sep 2017 08:09
Z
Zaba12
Hello everyone,
From a financial planning perspective, I’ve been giving some thought to a few things and would like to hear your opinions.
Basic information:
1. The plot of land from the municipality (fully serviced) is financed and will be paid off by the end of the year. The municipality still needs to complete the servicing and carry out the land survey (paid by the municipality).
2. The architect has completed the design planning.
3. The initial phase is planned as an extended shell construction (i.e., groundwork, drainage, shell construction, roof).
4. After that, known contractors will handle the interior finishing.
Items 1-2 will be paid out of pocket. Items 3-4 will be covered by the house financing, which should be finalized at the beginning of January. Logically, there are a few items between steps 2 and 3.
In my view, the following points are those that would make the house financing ready for disbursement (so that the shell builder can start construction). I hope my assumptions are correct, since without house financing ready for disbursement, the shell construction cannot even begin ;-) .
- Building survey, 1000€
- Building permit via exemption, 1000€
- Additional payment for floor area, 300€
- Second notary fees (new land registry fees due to house financing), 2500€ (essential for the loan in my opinion, because without land registration for the financing bank, there is no money)
- Builder’s liability insurance, paid
- Construction all-risk insurance / builders’ risk insurance, 400€
- Soil report, 1000€
- Energy consultation (probably not the full amount in the first step), 3500€
- Provision of construction electricity/water, 700€
Based on my estimate, I would be looking at around 10,000–11,000€ to pay out of pocket before the next invoices can be paid through the house financing, is that correct?
Are there any points missing, or are my estimates too low?
From a financial planning perspective, I’ve been giving some thought to a few things and would like to hear your opinions.
Basic information:
1. The plot of land from the municipality (fully serviced) is financed and will be paid off by the end of the year. The municipality still needs to complete the servicing and carry out the land survey (paid by the municipality).
2. The architect has completed the design planning.
3. The initial phase is planned as an extended shell construction (i.e., groundwork, drainage, shell construction, roof).
4. After that, known contractors will handle the interior finishing.
Items 1-2 will be paid out of pocket. Items 3-4 will be covered by the house financing, which should be finalized at the beginning of January. Logically, there are a few items between steps 2 and 3.
In my view, the following points are those that would make the house financing ready for disbursement (so that the shell builder can start construction). I hope my assumptions are correct, since without house financing ready for disbursement, the shell construction cannot even begin ;-) .
- Building survey, 1000€
- Building permit via exemption, 1000€
- Additional payment for floor area, 300€
- Second notary fees (new land registry fees due to house financing), 2500€ (essential for the loan in my opinion, because without land registration for the financing bank, there is no money)
- Builder’s liability insurance, paid
- Construction all-risk insurance / builders’ risk insurance, 400€
- Soil report, 1000€
- Energy consultation (probably not the full amount in the first step), 3500€
- Provision of construction electricity/water, 700€
Based on my estimate, I would be looking at around 10,000–11,000€ to pay out of pocket before the next invoices can be paid through the house financing, is that correct?
Are there any points missing, or are my estimates too low?
In fact, we only paid taxes on the €56, which is just the raw land price.
I was surprised and pleasantly relieved because I actually thought the taxes would apply to the full €150.
That puts my mind at ease. I tend to expect hidden or overlooked costs around every corner. ;-)
I was surprised and pleasantly relieved because I actually thought the taxes would apply to the full €150.
That puts my mind at ease. I tend to expect hidden or overlooked costs around every corner. ;-)
No!
You were asking about what huge and foreseeable costs might arise before signing.
I said right from the start that a utility provider usually wants the full payment when applying for construction power/water.
Utility lines!!! Utility connections!!!
I also mentioned that this was at least the case for us, and you should check this beforehand to avoid surprises.
But you can also just leave it and be surprised.
You were asking about what huge and foreseeable costs might arise before signing.
I said right from the start that a utility provider usually wants the full payment when applying for construction power/water.
Utility lines!!! Utility connections!!!
I also mentioned that this was at least the case for us, and you should check this beforehand to avoid surprises.
But you can also just leave it and be surprised.
ypg schrieb:
No!
You were asking about what huge and foreseeable costs might come up before signing.
From the very beginning, I said that a utility provider usually wants the full payment right when you apply for temporary construction power/water.
Utility lines!!! Utility connections!!!
I also said that this was at least the case for us, and you might want to check this in advance so you’re not caught off guard.
But you can also choose not to and be surprised. Could you please send me a link via private message so I can read up on what you mean here, or how a utility provider could demand payment so early?
C
Caspar20207 Sep 2017 08:22Zaba12 schrieb:
or a utility providerYou should just call *your* utility provider.
They usually all have a homeowners' helpline or a contact person for this kind of issue.