To ensure that the dream of a home does not turn into a nightmare, you need a detailed financing plan. It consists of your own contribution, your capital resources, subsidies, building society savings and bank financing. You need to observe several important steps.
- For new construction, clarify total costs with a construction professional.
- For renovation, have the condition of the house checked.
- Caution: In practice, costs are usually higher. Therefore plan a reserve.
- Establish a financing plan before you award a contract.
- Determine how much of your household budget is available for credit payments.
- Check subsidy options.
- Clarify financing options with banks.
- Have a financing package compiled: direct loan, interest allowances, government aid, etc.
- Have the energy index for the building computed (low-energy house, very low-energy house, passive house).
- Check if an Energy performance certificate for buildings is required.
- Applications for subsidies require a building permit and the computed energy index.
- You cannot begin building before the subsidy is approved.
- Subsidy funds are available on completion of the raw building shell including roof.
Plan well to save time, money and troubles.
- Check composition and condition (especially important for basement construction).
- Check the location (light plays a role in future heating costs).
- Important issues in selecting a plot: site development, transportation infrastructure, water and sewage; electricity, natural gas, telephone and TV cable connection; noise, smells and exhausts.
- Observe local building code, development plan and zoning.
- Ask the municipality about site development fees.
- In many cases a building permit requires the approval of neighbors.
- Before you purchase property, study the real estate register.
- Lay persons should consult a notary public or attorney (sales contract, entry in real estate register).
Check list for planning:
- Clarify financing.
- Collect information (visit builders’ fairs, view model homes, talk with others, professionals)
- Clarify your own requirements and wishes:
- type of building (conventional, modern, low-energy, etc.)
- number of residents and their requirements (music room, workshop, etc.)
- living requirements over time (barrier-free living, children grow up), so plan for the future (house for generations)
- plan electric installations and water connections, even installation bus
- Create a site plan.
- Involve a professional planner in your final house plan.
- Caution: Each change in the plan costs time and money for a new permit process.
- Collect price quotes. It pays to compare.
- Submit your plan and wait for the building permit (plan adequate time for the permit process).