House building: Planning and financing properly

Having your own house, preferably with a garden and plenty of space, is a dream of young families. Many do not want to wait to find the dream home and build it themselves, but that requires a lot of planning.

Why build instead of buy?

Of course, the size of the plot also plays a role, especially if perhaps a vegetable garden or a pool is to be created.

Which house is suitable?

A single-family home is far from being the same as another. Detached family houses are usually more expensive than semi-detached or terraced houses, but there is usually a generous plot available. Bau In addition, builders can now choose from a wealth of home construction types and types. The most popular are probably the prefabricated house and the massive house. In a prefabricated house, the construction times are usually much shorter. The house can be seen as a model in a show house park, so builders can get a clear idea of ​​what they are ordering. In addition, prefabricated houses offer good thermal insulation and can also be built well in difficult terrain. For the sound insulation is usually not so good and the houses lose value faster than in the solid construction. Bau For a massive house builders usually have to plan significantly more time and usually a little more money, even if the cost difference between prefabricated and solid house is no longer so serious today. But massive houses lose less value and offer a huge planning freedom.

Free planning

If you want to plan your house freely with the help of an architect, you should think carefully about the demands he places on the house. First of all, it is important to set your own space requirements. How many rooms are desired and in which size? How flexible should the room layout be, for example so that later there is room for further offspring? Helpful for the planning are also photos or floor plans of other houses, which can be presented to the architect. For a rough idea design, you can also make your own rough sketch. When planning the plot and its location should necessarily be included. The most beautiful panoramic windows on the ground floor can lose their effect if they are directly in the view of the door of the neighbor. In addition, the position of the windows should be based on the incidence of sunlight in order to achieve optimal lighting conditions in the rooms throughout the day. Not to be neglected is also the need for sockets in every room. Here is often calculated too tight. Especially in the living room and kitchen should be well and gladly distributed up to twelve pieces to be able to supply later all electrical appliances.

Planning the Financing

First of all, there is the question of how much home builders can actually afford.

Financing for most clients is based on three pillars:

Equity
Home savings contract

  • Credit
  • About twenty percent of the total amount should be financed from equity. Even though interest rates are currently very low, equity brings with it a degree of security and can also lead to more favorable credit terms. In addition, the low interest rates lead to thinking about a house construction even with low capital. However, this carries some risks. Loans with a short fixed interest rate can ensure that the loans can no longer be serviced later, when the interest rate increases again. Especially for low-income families, this can be a debt trap, as the Handelsblatt writes.
  • Ensure safety

In order to protect yourself and the family against insolvency, for example in case of sudden unemployment, it makes sense to think about a residual debt insurance. Further information and alternatives to residual debt insurance can be found here.

In the financial planning, in particular, it is important to have a ruthless honesty with oneself. How much money is needed in the month to live without major losses? At least four gross salaries should always be available as a reserve in case of unexpected costs or sudden financial losses. Basically, willing to build here should be very generous, because usually a loan over a long period of time to be removed and even if for your own house like to be omitted, this waiver should not be too large.

Thorough costing

The costs of building a house are not just the cost of the land and the construction itself. These only make up part of the final square meter price. Frequently underestimated various construction costs, such as for official matters such as the land register entry, land charge, notary, building permit or various reports. In addition, there are often development costs for the property, such as a soil survey, official surveying or eventual tree felling and various connections.

All these costs should be calculated in advance and planned, so that it does not come during the construction to nasty surprises that may bring the whole construction project to a halt.

The construction phase
If you want to save costs and are adept in craftsmanship, you can also help with the construction yourself. However, this costs a lot of time and laymen often overestimate their skills. If the construction project is completely outsourced to service providers, builders still do well to constantly monitor the construction. If you do not have the time, you can also hire a construction manager. In the best case, the architect is charged with this, because this often has experience with the various trades and must be liable for any defects themselves.

Tips & TricksA home is the biggest investment in life for most; Therefore here should not be saved at the wrong end. It is worth gathering in advance as much information about the house, land and construction company as possible. In any case, it makes sense to call in experts for a wide range of issues, such as checking the property, checking the contract or monitoring the construction site.

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