Hello everyone,
we are currently planning to possibly purchase a plot of land directly from the municipality and have a house built on it by a developer.
The plot is 440m² (4740 ft²). The price is 190€ per m² (square meter) (developed).
The price for the planned bungalow is 246,500€ fully finished (except for painting. The terrace, driveway, and path to the house are paved), through a very reputable developer (they have built many houses here and also three in our family).
However, we plan to reduce the originally planned living area from 118m² (1270 ft²) to around 100-105m² (1075-1130 ft²).
A little about us:
My husband and I are 27 and 26 years old (together for 9 years, married for almost two years), with a dog, do not want children, and both work in permanent, “relatively” secure jobs.
Together we earn a net income of 4200€ (plus Christmas and holiday bonuses) and have 25,000€ in equity.
I would simply like to hear your assessment.
We have already consulted two banks, which naturally told us that we can afford it.
I would simply like to hear your assessment.
The main issue is that we want to own property as soon as possible; the real estate situation here in our village is terrible (over 200 applicants competed for 40 plots during the draw for the plots).
Used properties or condominiums are only junk listed on real estate platforms, as everything else is sold off-market.
We feel capable of handling the project but suffer from the “typical” fear of life uncertainties, such as one of us losing our job, etc.
Greetings and thanks in advance!
we are currently planning to possibly purchase a plot of land directly from the municipality and have a house built on it by a developer.
The plot is 440m² (4740 ft²). The price is 190€ per m² (square meter) (developed).
The price for the planned bungalow is 246,500€ fully finished (except for painting. The terrace, driveway, and path to the house are paved), through a very reputable developer (they have built many houses here and also three in our family).
However, we plan to reduce the originally planned living area from 118m² (1270 ft²) to around 100-105m² (1075-1130 ft²).
A little about us:
My husband and I are 27 and 26 years old (together for 9 years, married for almost two years), with a dog, do not want children, and both work in permanent, “relatively” secure jobs.
Together we earn a net income of 4200€ (plus Christmas and holiday bonuses) and have 25,000€ in equity.
I would simply like to hear your assessment.
We have already consulted two banks, which naturally told us that we can afford it.
I would simply like to hear your assessment.
The main issue is that we want to own property as soon as possible; the real estate situation here in our village is terrible (over 200 applicants competed for 40 plots during the draw for the plots).
Used properties or condominiums are only junk listed on real estate platforms, as everything else is sold off-market.
We feel capable of handling the project but suffer from the “typical” fear of life uncertainties, such as one of us losing our job, etc.
Greetings and thanks in advance!
S
sweettalker11 May 2017 10:26So, we would postpone the garage for later since it is not that important to us. We plan to save some money from the total budget by installing laminate flooring ourselves in the three rooms originally planned with parquet. A kitchen costing around €10,000 (about $11,000) combined with the painting work, which we will also do ourselves, would still be very reasonable.
Yesterday, we asked the developers about the proposed downsizing. The question is how much of a reduction this will actually result in.
It should also be noted that we have both been working since we were 16, completed further training to become certified business specialists two years ago, and intend to stay in the local area.
Yesterday, we asked the developers about the proposed downsizing. The question is how much of a reduction this will actually result in.
It should also be noted that we have both been working since we were 16, completed further training to become certified business specialists two years ago, and intend to stay in the local area.
B
Bieber081511 May 2017 10:47sweettalker schrieb:
We asked the developer yesterday about the requested reduction. I was once told that it’s better to slightly enlarge a small standard house (additional cost) than to slightly reduce a large standard house (discount), because the discount granted by the general contractor (GC) is always smaller than the extra charge.
When building with a GC/general contractor, those who stick almost unchanged to a standard house model from the provider’s portfolio usually come out best. If you want major modifications, it’s better to hire an architect right away.
C
Caspar202011 May 2017 10:51sweettalker schrieb:
So, we would postpone the garage to a later stage You already have so few square meters; part of that space will be taken up by a utility room and all the heating equipment, so you can’t really compare the square meters to those of an apartment anymore.
So, there isn’t much storage space left within 100–105 sqm (1076–1130 sq ft).
sweettalker schrieb:
We plan to lay laminate flooring ourselves in rooms intended to have parquet. And a kitchen costing around 10,000€ would still be top-notch, including the painting work that we will also do ourselves. Then please list all the planned cost items at once. Especially which parts you intend to do yourselves.
By the way, laminate? In your own home?
S
sweettalker11 May 2017 12:04[
Land + additional costs €83,600 (including additional costs)
House €237,500 (this is not final yet, as we plan to remove one door panel to make it a window, leave out the parquet flooring, and we will install high-quality laminate ourselves – this was clear from the start, so why question it like that?)
Kitchen approx. €10,000
Fence (the garden should be usable early on even without landscaping. The dog would benefit from this) – so far hard to estimate – I think around €2,000-5,000 is realistic.
Painting work + possibly some new furnishings €10,000 (we want to keep a lot, but we are slowly moving beyond the painting phase for the beds).
Total amount of €350,000-360,000 without the planned changes.
Caspar2020 schrieb:as follows:
You already have so little square meters; part of the space will be used for a utility room and all the heating equipment, so you can’t really compare the square meters to those of an apartment.
So, there isn’t much storage space left in 100-105 sqm (1076-1130 sq ft).
Then please list all the planned cost items at once. Especially which of these will be done by yourselves.
By the way, laminate flooring? In your own home?
Land + additional costs €83,600 (including additional costs)
House €237,500 (this is not final yet, as we plan to remove one door panel to make it a window, leave out the parquet flooring, and we will install high-quality laminate ourselves – this was clear from the start, so why question it like that?)
Kitchen approx. €10,000
Fence (the garden should be usable early on even without landscaping. The dog would benefit from this) – so far hard to estimate – I think around €2,000-5,000 is realistic.
Painting work + possibly some new furnishings €10,000 (we want to keep a lot, but we are slowly moving beyond the painting phase for the beds).
Total amount of €350,000-360,000 without the planned changes.
Caspar2020 schrieb:
By the way, laminate? In your own home?Why not? We do it too. Not everyone prefers hardwood flooring, tiles, or vinyl.
C
Caspar202011 May 2017 12:22sweettalker schrieb:
House 237,500€ (we are not final yet, since we plan to replace a door element with a window, skip the parquet flooring, and install high-quality laminate ourselves – this was clear from the start – so why are you questioning this?)I assume the house and land were purchased separately.
Are you sure all additional construction costs are included in the house price (for example, utility connections like electricity, water, sewage, etc.)?
Usually, these are the responsibility of the builder or client on site. So are these costs extra? Typically, these additional costs are around 30,000–40,000€.
The laminate flooring is a personal choice. It’s essentially "plastic." Apart from that, I don’t see it listed as a cost item.
sweettalker schrieb:
Fence (the garden should already be usable early on without landscaping. The dog would benefit) – hard to estimate so far – I’d say 2,000–5,000€. Who is handling the garden design and landscaping for you?
sweettalker schrieb:
Kitchen about 10,000€ This is necessary but usually not financed as part of the mortgage; it should be deducted from your own funds.
The same applies to new furniture. What often tends to get underestimated is lighting – that usually ends up costing a significant amount.
In other words, non-house-related costs should be kept separate in your financial planning.
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