I understand the question is really vague, I am just curious about a very rough ballpark estimate. I am not planning of buying anything anytime soon sadly, but recently a couple of acquaintances did, and I was wondering about the idea of buying VS building.
Looking at kanton Zurich / Aargau / Schwyz / Zug / St Gallen / Lucerne
Patch of land in a not-luxurious but decent location, good connections to schools but can be relatively countryside as long as at least 1 Gbit/s fiber. Actually countryside better.
Single family house with a small patch of garden, 5,5 rooms plus storage space (cellar + garage, not necessarily underground but indoor). Single family house meaning, at least 2 meters of air in all directions to the nearest other building, i.e. no “one family flat in a 4-family house”.
One or two floors indifferent. No fancy materials, simple fixtures, but maybe decent insulation.
Cost of permits + architect + building + utility connections.
Approx grand total? Again, just a BALLPARK number, for anyone of you who has an idea. Just out of curiosity. Thanks ^^
Really a question of where. I assume actual construction costs are the same everywhere, so it is the land that matters. Around where we live (Ausserschwyz), I have seen 600-800 sqm lots with some crappy old 1940s house on it sell for 2.5 to 3 mil in the last years.
Huf-Hauf pre-build houses and ship them to your site; their smallest model costs approximately 1m. I assume it comes fitted out with bathrooms and a kitchen, at least that is included in the budget.
Our place cost roughly that I think when we built it in 2012, so ten years ago.
This calculator is quite interesting, although I’m afraid it’s not super updated. But yes, it looks like the biggest part is the cost of land. It would be interesting to see the (average) price per sqm of vacant land in a given canton depending on the area (e.g. Zurich city vs Adliswil vs Oerlikon).
Having recently been bingeing on Grand Designs I’d say whatever estimates you are given… it’ll cost twice as much and take twice as long and keep your fingers crossed for your marriage/partnership.
In this area (la côte) they appear to have stopped building detached houses. Other than bespoke lakefront properties costing 10s of millions I haven’t seen any construction for single family dwellings. Don’t know if this because no one can afford them or because developers can make more money or communes want multiple tax payers. Or some of the above, or all of the above?
What I have seen frequently is people buying and tearing down an old single house, and then replace it with some ugly square box that is then two so-called “Doppeleinfamilienhaus” units (a word that makes no sense at all). Maximizing the allowed space on the small piece of expensive land.
Developers just try to cram as many units as they can to maximize their profits. With prices high, having 3 units with slightly lower prices sells better and makes more profit than a single expensive unit.
London went through this going so far to build tower blocks with units so small that there was an industry making 2/3 sized furniture for the showrooms to trick buyers into thinking that the rooms were more spacious than they were in reality.
I would say 1.5million minimum, but will go to 2 million probably. While walking and seeing people living in houses, especially newly built ones, i keep wondering do they really have a mortgage for this amount O_o like you must continue on a treadmill to the death paying it, but if someone has already millions to begin with why on earth even live here when you can live like a king anywhere else
Likely they collect their 20% downpayment and are now paying the interest and a small (if any) amount of the capital.
Current (Money park) rates are:
Fixed 2 years from 0.97 %
Fixed 3 years from 1.04 %
Fixed 4 years from 1.15 %
Fixed 5 years from 1.22 %
Fixed 6 years from 1.30 %
Fixed 7 years from 1.36 %
Fixed 8 years from 1.42 %
Fixed 9 years from 1.47 %
Fixed 10 years from 1.52 %
Fixed 12 years from 1.73 %
Fixed 15 years from 1.87 %
Fixed 20 years from 2.11 %
Variable from 2.35 %
Saron 1 month from * 0.90 %
Saron 3 months from * 0.86 %
Saron 6 months from * 0.86 %
A 1% mortgage on a 2m purchase, less 20% downpayment, would be aprox 1,300 a month. Not so much compared to rents. I know there are other costs of home ownership.
There is a financial cost, and then there is the physio-psycholological cost. Most people I know who have undertaken this exercise have regretted it because of the latter. A few important things to remember:
You will be the “Bauherr”. If you want to avoid costly screw-ups, you will need to visit the construction almost daily. Otherwise toilets, power sockets, etc won’t be where you want them.
The mortgage for the land will be different, you can’ use your pension as part of the deposit.
There is no incentives for architects and builders to keep costs down. You’ll need a big reserve.
Yeah that’s too optimistic calculation, 10 years mortgage 1.5% seems more reasonable in our volatile existence + amortization + a lot of taxes (imputed rent, property, asset) + god knows what (or owner of houses know), will be at least 3000 i think per month, also nebenkosten + repairs, so this is a lot to pedal your entire life for…
But in the end, the people living in the property pay for all of this plus with the landlord’s profit on top. It just comes as a more steady monthly rental payment instead of lumpy expenses.
when you can live like a king anywhere else