For a successful financing application for a mortgage financing or real estate financing and for a correct calculation of the value of a property, certain documents for the financing of the building, e.g. the calculation of the surrounding area, are mandatory. The outdated term “reconstructed space” is often used synonymous for the new term “gross space content”, even if the current calculation type is meant. In addition to mortgage financing, these terms are also used for profitability calculations, building permits and traffic reports.
Reconstructed space or gross space content in real estate financing refers to the volume of a building independent of design or material. The calculation basis is based on DIN 277 and consists of the information height x width x length. The value of the value determined is decisive for the loan value of a property and is therefore an important part of the documentation on mortgage financing. In the case of a planned real estate financing or mortgage financing, the documentation for the calculation of the converted space must therefore be provided for a loan request to the building loan agent or loan provider.
Fundamentals for the calculation of the surrounding area
There are a few things to consider in the calculation of the built-up area (1950) in mortgage financing:
- Full floors of a shell are calculated from height x width x length
- Cellar buildings are measured from the upper edge of the cellar floor
- Non-cellared buildings are determined from the surface area
- As soon as the floor plans differ, separate calculations must be made for each story for multi-story properties
- Plastered buildings are deducted 2 percent of the value determined
- Constructed attic floors are calculated from exterior surfaces of the ceilings and walls “length × width × height ÷ 2”
- Not developed attics are calculated only one-third “(length × width × height ÷ 2) ÷ 3”, the height up to the top of the soil measured above the uppermost full story
- Exterior roofing and ramps, dormers, canopies, chimneys, installation and light shafts, roof overhangs for areas and foundations which are not fully developed are not considered
Different to gross room content (2016):
- Full floors are calculated from the sum of gross floor areas , including plaster and multiplied by the corresponding heights (finished dimensions as outer dimensions)
- Cellar buildings are dimensioned from the lower edge of the floor slab
- Not developed attics are with the actual volume calculated
- Deep and shallow foundations, skylights, outdoor stairs and ramps, porches, roof overhangs for not fully-developed areas, cantilevered sun protection systems, chimney heads and ventilation pipes and drive bays are not taken into account
Caution for garden houses when calculating the enclosed space
If the construction of a garden house is planned, it should be noted that building permits may be required depending on the state. It should therefore be ascertained beforehand whether or not this is a “procedural project”. Should the project prove to be non-procedural, it is absolutely necessary to calculate the surrounding area for mortgage financing. The regulations for each federal state can be viewed in the respective national building regulations.
Cost of the enclosed space
The costs for the built-up space during construction financing are variable, depending on the object and the region, since they depend on several factors. On the average, however, a cubic meter price of between 230-250 dollars can be expected without an additional construction costs or 300-320 dollars with additional building costs. However, in the case of a real estate sale, the calculation of the converted space is usually ignored and only the square meter price of the living space is indicated.