Hello everyone.
We have wanted to build a house for quite some time now and have already gone through several quotes. Some time ago, we came across "Ihre-Makler24" through an online offer. After a brief phone call and now two appointments, the planning is slowly becoming more concrete. We want to build a prefabricated house of about 125 square meters (1,345 square feet) with a basement and a granny flat. The heating system will be an air-source heat pump combined with a photovoltaic system with about 6 kW capacity.
What you often hear most before building a house is that unexpected costs arise that were not previously calculated. Since we are building without equity, I want to avoid such costs as much as possible.
This is where Makler24 comes in. According to their statements, they include extra costs everywhere to prevent these surprises at the end. Now I have here a sample offer that totals 430,000 euros. It is supposed to include "everything." The building plot for 100,000 euros. Notary and taxes (no agent fees in this case). Basement for about 65,000 euros. Finishing of the granny flat for 25,000 euros. Additional costs for temporary double financing and, for example, moving costs at 5,000 euros. Utility connection fees of 15,000 euros. Costs for partial site development, architect, and excavation amounting to 16,000 euros. Heating including the photovoltaic system for 33,000 euros. Even insurance during the construction phase is included.
And now my question: Where could additional costs still arise? To me, the offer sounds almost too good to be true, yet without seeming unreliable. I also find the financing "technique" quite remarkable. It is simple, although I would never have come up with it on my own.
I hope someone can help me a bit regarding the costs or share experiences with this provider.
Best regards,
IOStream
We have wanted to build a house for quite some time now and have already gone through several quotes. Some time ago, we came across "Ihre-Makler24" through an online offer. After a brief phone call and now two appointments, the planning is slowly becoming more concrete. We want to build a prefabricated house of about 125 square meters (1,345 square feet) with a basement and a granny flat. The heating system will be an air-source heat pump combined with a photovoltaic system with about 6 kW capacity.
What you often hear most before building a house is that unexpected costs arise that were not previously calculated. Since we are building without equity, I want to avoid such costs as much as possible.
This is where Makler24 comes in. According to their statements, they include extra costs everywhere to prevent these surprises at the end. Now I have here a sample offer that totals 430,000 euros. It is supposed to include "everything." The building plot for 100,000 euros. Notary and taxes (no agent fees in this case). Basement for about 65,000 euros. Finishing of the granny flat for 25,000 euros. Additional costs for temporary double financing and, for example, moving costs at 5,000 euros. Utility connection fees of 15,000 euros. Costs for partial site development, architect, and excavation amounting to 16,000 euros. Heating including the photovoltaic system for 33,000 euros. Even insurance during the construction phase is included.
And now my question: Where could additional costs still arise? To me, the offer sounds almost too good to be true, yet without seeming unreliable. I also find the financing "technique" quite remarkable. It is simple, although I would never have come up with it on my own.
I hope someone can help me a bit regarding the costs or share experiences with this provider.
Best regards,
IOStream
N
nordanney9 Feb 2014 10:35The website does not give me a convincing impression. Sorry! Under contact, there is only a mobile number and a limited liability company listed as the business owner, with no further information available about it.
Have you already viewed houses from them and spoken with the owners?
Have you already viewed houses from them and spoken with the owners?
@RFR
Yes, definitely. But this has been thoroughly considered. We are providing the "equity" through personal contribution. Therefore, this is not a 100% financing, but in this case only 97.52%. We have thought it through and can afford the monthly costs relatively easily, even without tenants.
@nordanney
Yes, I have noticed that too. Gradually, I am finding more and more reasons against it. But as I said, the house where we met gave statements like "…we’ve been doing this for 30 years…" and so on, which makes me wonder—if they were really that unreliable, why have they been, in my opinion, the only ones to include almost all costs in the planning?
I will ask other owners first thing tomorrow morning and share the results here immediately.
And thanks in advance for the replies. I am in a bit of a hurry because the reserved plot is truly ideal in terms of location, but the owner only wants to hold it for a maximum of 2 more weeks.
Regards, IOStream
Yes, definitely. But this has been thoroughly considered. We are providing the "equity" through personal contribution. Therefore, this is not a 100% financing, but in this case only 97.52%. We have thought it through and can afford the monthly costs relatively easily, even without tenants.
@nordanney
Yes, I have noticed that too. Gradually, I am finding more and more reasons against it. But as I said, the house where we met gave statements like "…we’ve been doing this for 30 years…" and so on, which makes me wonder—if they were really that unreliable, why have they been, in my opinion, the only ones to include almost all costs in the planning?
I will ask other owners first thing tomorrow morning and share the results here immediately.
And thanks in advance for the replies. I am in a bit of a hurry because the reserved plot is truly ideal in terms of location, but the owner only wants to hold it for a maximum of 2 more weeks.
Regards, IOStream
IOStream schrieb:
@RFR
Yes, yes. But this has been carefully considered. We provide the "equity" through our own labor. Therefore, it is not a 100% financing but in this case "only" 97.52%. We have thought this through [...]Incorrect. Thought through, maybe. But if you calculate it that way, it’s either wrong or you are not fully informed. I assume you haven’t spoken to the bank yet, at least not in this detail.
Zero euros of equity does not mean 100% financing, but rather 100% plus additional costs. These additional costs include fees such as real estate agent, property transfer tax, notary, etc. So with zero equity, you are talking roughly about 110% financing, and with your own labor maybe around 107.5%. First, you would need to find a lender willing to finance over 100%. On top of that, banks have their own methods for calculating the loan-to-value ratio and do not simply accept the purchase price on your documents at face value. For example, your house might be listed at €200,000, but the bank may only consider 80% of that value for their calculations. This will almost certainly push your loan-to-value ratio well above 100%.
So don’t expect a favorable interest rate.
Talk to a bank or a savings institution; they will bring you back down to reality. They work with very different numbers than the average person using a calculator with equity and own labor calculations.
Good luck.