How much does a home cost?
The cost of building and maintaining a home depends on many things. But the most important factors are certainly the following:
- the region in which you want to build your future home
- the amount of personal work you want to put in the house
- in how far the house is an investment for Age is or is not
While the new build of a single-family dwelling with about 150 square meters in Berlin is still possible for less than 300,000 euros, it can be significantly more expensive in Munich with over 600,000 euros. In some parts of the country you can still get by with 200,000 euros for building a house. This sum is unthinkable in the big cities. So before deciding on a piece of land, you should check the price level on the spot. But beware : the house costs less in the countryside, but you can also sell it much worse. Who knows what will happen in 20 years?!
Building one's own house is a life-long decision. After all, such a house is usually designed as a home for life. Often it is also the old age insurance . But the value of a home does not necessarily have to increase, and in many cases family circumstances may force you to sell it.
While in some urban areas home prices have risen dramatically in the last decade, they are even in some underdeveloped areas declined. Especially in Northern Germany and North Rhine-Westphalia, homeowners sometimes received less for their property than they originally paid for it.
The location as a cost point is in addition to municipal fees, as well as notary and court costs especially due to the construction costs incurred by the contractors on site. Anyone who does a lot of work on their own and does not need help for every trade can of course save a lot here. Overall, however, the region in which one builds is an important factor.
The land transfer tax is also a noteworthy point. Many federal states have increased this last year. In the meantime, the land acquisition tax rate in more than half of all federal states is more than 5 percent of the purchase price. If the house and the land are bought together (as is the case with turnkey objects), this tax is due on the total amount. So if you can divide the house and property when buying, saves a lot of money. Anyone who builds their own, usually pays the property separately anyway.
A practical example : Whoever buys a turnkey house and pays 300,000 euros for this, pays 15,000 euros of land transfer tax. On the other hand, whoever buys the land separately and pays 100,000 euros, pays only 5,000 euros land transfer tax. A big difference.
If you build in a financially weak municipality that has not been rehabilitating the roads for a long time, and the streets in front of the proposed property are in poor condition, it is quite possible that the municipality will shut you down or contribute to the cost of the Road Rehabilitation . That can quickly become a five-figure sum. Therefore, it is certainly a point that should be scrutinized in advance.
In addition, municipalities charge fees for drinking water, waste water, street cleaning and waste disposal annually. Here, the prices also vary sometimes strong. The nationwide average for these payments is around € 360 per month.
are incurred just a few years after the construction of the new home and must also be shouldered. 2,000 euros should at least be calculated here per year. Although there may be years in which no renovation work is required, after a few years but larger sums to come to one. A roof renovation or a heating renovation are very significant cost points and can occur after 20 years.
Also a home must be insured. After all, most of the assets are often in it. Check if the landlord liability is included in your private liability insurance. If this is not the case, it must be completed separately. As you can see, the ancillary costs around the home are immense. That's why construction costs are far from over. In addition, the value of the property falls very strong after some time. After all, a 20-year-old house is no longer " state of the art
& ldquo; and can no longer keep up with new buildings. Conclusion : Home ownership is a luxury you can afford. As a value investment for the elderly, a home is not necessarily recommended in all cases. Too many risks and additional costs are associated with it. However, this does not mean that you should not invest your money in a home. But you have to be sure that you want to commit yourself to this very financial commitment
and the associated risks. However, many people have found happiness in their own homes.