Financing & implementation of a conservatory - Important information at a glance


The Content Of The Article:

A conservatory is the dream of many homeowners. But unfortunately it is also quite expensive. But with the right funding, it can still come true.

A winter garden is no longer just a plant house

Growing a conservatory to the existing house is becoming increasingly popular. Due to the special insulation due to the use of glass, the first rays of sunshine can already be enjoyed in spring. However, such a project is associated with not inconsiderable costs, which usually requires well-considered financing. Furthermore, the expansion itself is already a rather uncomplicated undertaking: Obtaining a building permit, the choice of the right materials with the respective functions are to choose and finally the question of the implementation of the construction project in the room - should be self-built or at least Would you prefer to hire a company?

What is a conservatory?

Formerly intended as a vegetable house, the function of a winter garden has become more and more a residential garden. The Federal Association winter garden defines the term as follows:

"A conservatory is a closed extension to a building, an independent structure or a building integrated into the building with at least one wall surface and a large part of the roof surface of translucent building materials (EnEV term:" glass roof ")." (Source: //bundesverband-wintergarten.de/pages/fuer-die-fachbetriebe/definition-wintergarten.php)

Here, the supporting structure made of wood, metal or plastic. Conservatories are only declared as such if they are so stable in their roof and glass construction that they are both rainproof and windproof. For example, rooms that are heavily glazed on the wall but have a massive roof do not count as conservatories.

The financing: possibilities and for whom they are suitable

Here, the costs for the installation or expansion of a conservatory amount to around 2000 euros per square meter, so that the construction of a small conservatory with about 30 square meters can already cost 60,000 euros. It is therefore a sum of money that most homeowners can not easily afford without additional credit. To finance such a construction project, however, there are various possibilities of borrowing.

➢ Financing option 1 - Bauspar contract:

This is now one of the most common forms of financing real estate. As the name implies, it is a savings contract with a building society, which is subsidized by the state. The prerequisite here is that the saved money is also spent on a property, such as for the construction of a house or the expansion of the property with a conservatory. Basically, a home savings amount is agreed with the respective bank, which is saved in small portions on a monthly basis. Basically, three phases can be distinguished.

Financing Bauspar contract

But what happens in the individual phases? The following table should bring clarity, because although the term "Bauspar contract" is almost clear to everyone, at least they know how the phases of this financing option expire.

phaseWhat happens in this phase?
AnsparphaseThe agreed savings amount is saved to a certain extent until a certain point in time.
allocation phaseBasically, the saving sum is released to the homeowner in this phase, in so far as some valuation requirements are met, such as, among other things, the agreed minimum savings or even a Mindestansparlaufzeit.
loan phaseIn this phase, the homeowner has the complete savings. Meanwhile, the interest on the bank loan has to be paid by the Bauspar to the bank.

According to the guide of ergodirekt.de the advantages of a home savings contract are based on the following points:

  • Fixed interest
  • State funding in various forms possible
  • Possibility of mortgage exists
  • Because savings contract, no equity required as a prerequisite for lending

However, with such a real estate financing the mostly tedious Ansparphase is to be considered. A shortening of this time, for example, by the increase of an existing Bauspar contract. Furthermore, the state subsidy is usually worthwhile only for high-earning singles or families with three or more children.

➢ Financing option 2 - Bank loans:

In most cases, an annuity loan is used, which is considered a classic form of loan and is usually concluded with a bank. The loan is usually paid in monthly installments, which consists of an interest and an amortization section. Initially, the repayment portion is quite low and the interest rate accordingly quite large, whereby the repayment portion decreases slowly and then faster.The interest is a variable interest rate, and in most cases a fixed interest rate can be set for a certain period of time. Such funding includes two risk factors accordingly:

Variable interest rate:

Depending on the market situation, the interest rate can develop very quickly, both positively and negatively. Currently, however, the interest rate is so low that it can almost no longer be optimized as a fixed interest rate.

Late repayment time:

Such a loan does not include unforeseen changes. First, interest is paid mainly and only later does the repayment installment follow. For example, unemployment can generate so much debt.

➢ Financing option 3 - Loan in combination with an insurance:

With this form of loan, initially only interest is paid in monthly installments so that the repayment debt remains. This is only paid after the term and this usually in combination with a life insurance or a pension insurance. However, there is a high risk here due to variable interest rates and late repayment. In addition, life insurance is hardly worthwhile due to the usually low return, as the Handelsblatt reports.

➤ Interim conclusion:

Which form of loan is ultimately appropriate depends on various factors that must be taken into account when advising with the respective bank:

  • Is there a certain amount of equity available?
  • What is the current and future income situation?
  • In which family situation is the borrower?
  • How many children does the borrower have?
  • What savings, investments, insurance, etc. already exist?

Implementation of the construction project

Winter Garden Planning

Parallel to the question of financing, the planning of the construction project should also be carried out, which ultimately determines the budget level. When planning a winter garden, there are a few factors to consider when constructing a conservatory and approving such a construction project.

➢ Building permit:

A building permit is necessary for the cultivation of a conservatory, since it is a structural change to the house. Once the conservatory is a connection to the living room, this is also subject to approval. The conditions to be met when applying to the local building authority are highly dependent on the region, so information should be obtained first of all before the project. In a few regions, it may also be that the expansion of a house is excluded from the outset. In most cases, the following information must be submitted to the building authority:

  • Construction plan by the architect
  • Floor plan or the location of the cultivation
  • Statics information
  • Information about measures regarding fire protection or energy saving

➢ Construction of the conservatory:

Basically, a winter garden consists of two materials: glass and a substrate such as wood, plastic or metal. Which carrier is to be used depends, on the one hand, on the budget and, on the other hand, on one's own preferences. Here are some advantages and disadvantages of the most popular materials at a glance:

materialAdvantages and disadvantages
Wood✔ sustainable raw material
✔ easy to work with
✖ maintenance-intensive
plastic✔ easy to clean
✔ comparatively inexpensive
✖ comparatively unstable
aluminum✔ easy to clean
✔ easy to work with
✖ comparatively expensive to buy

But the main building material remains the glass, whereby "normal glass" can not be used here. Depending on the type and function of the glass, one with a U-value from 1.3 W / qmK is to be selected. With the growing energy-saving thought in society, the design and functions of the glass have evolved. So there are different variants for every taste and budget (more about that in an article by haus.de). Among others, these include:

  • Insulation glass with additional functions such as sunscreen or solar cells
  • Self-cleaning glass, which was treated with titanium dioxide during production

➢ Implementation of the project with specialized companies:

In any case, an architect or a civil engineer who includes the special features of the construction of a winter garden should be consulted in the planning. But also for the implementation of the construction project companies should be commissioned, who are familiar with conservatories in particular. In most cases, the respective architect includes different companies in the offer preparation, so that the client can decide on a suitable offer. With craftsmanship, it is certainly also possible to build the conservatory on your own, but here expertise must be present.

➤ Overall conclusion:

The desire for a private conservatory can be implemented in the best possible way thanks to structured planning. As mentioned above, aspects such as the prior information about regional specific requirements for an extension to the house to obtain, various information for the financing and the building permit to the credit institution and the local building authority to submit, important.For both the financing and the concrete planning of the conservatory, expert opinions should always be obtained. If all important aspects are considered early on, the construction project can finally begin.

Video Board: Project Financing - Part I.

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