Building society contract: overview of costs

Before you become a builder, you should carefully check the costs for the notary and appraiser. Also what services are included in the price of the developer.

Utilities

Don't forget the costs of notary, land register entry, insurance and appraisers: 15 percent of the purchase costs are realistic, you should have them ready. You should not fall below your equity ratio of 25 percent of the purchase price, otherwise your construction project will no longer be on a solid foundation.

Check contracts

If you are building with a property developer, make sure that essential building services are really included in the price. Property developers repeatedly land in front of the courts, which despite supposedly turnkey houses collect extra amounts for the sewer connection or the removal of the excavation. It is best to have this checked by an association (e.g. from Haus & Grund, www.hausundgrund.de, or from the Association of Private Builders, www.vpb.de). Ask former property developer customers about their experience. They will be happy to provide you with information about your project.

Set limit

Agree with your architect an absolute maximum price for your entire project. He then saves costly changes elsewhere. Buyers should have an appraiser clarify what additional costs might be incurred after the purchase.

In this post you read:

• Finance smartly
• Flexible and fast
• Survey costs
• Financial compass
• Expert advice