ᐅ Is the house price reasonable?

Created on: 1 Sep 2015 11:19

Hello everyone,

We are currently considering a prefabricated house from Bien-Zenker. It was built at the end of 2013, so it’s almost new. A family with five children lived in it for one year. The marriage broke up and the house is now being sold. Some interior work was done by the owners themselves, which is visible in places (bathroom grout is poorly done).

The details are as follows:

Living area 180 m² (1,938 sq ft) over two floors
Ground floor includes a utility room, open kitchen/living/dining area, bathroom, guest room
Upstairs there are 4 bedrooms and a bathroom
KfW 70 energy standard with district heating, controlled ventilation system Lunos with heat recovery
Plot size 475 m² (5,110 sq ft), price was 250 € per m²
No basement
The house is very simple, gable roof, no balcony, knee wall 1.60 m (5.25 ft)
Detached garage 7.50 m (24.6 ft) long
Driveway and parking spaces paved
Terrace slabs are laid
The garden is undeveloped, no fence, lawn, plants, etc.
2 bathrooms: downstairs with shower, upstairs with shower and bathtub, standard quality
Large kitchen with Bosch appliances
Flooring is laminate
3 solar panels on the roof

The purchase price is €390,000 plus realtor fees. The walls all need repainting as they’re quite marked by the children. Some baseboards need repair. The garden still needs to be landscaped.

What do you think? Is the price reasonable?

Thank you very much.

Best regards,
Timo

Bauexperte3 Sep 2015 12:47

#55

Hello Dirk,

Dirk Grafe schrieb:

The price dropped quickly from 390K to 375K if I remember correctly. Why?

I don’t know if you have ever experienced a divorce up close in your environment? It is really unpleasant when only money and personal feelings are the focus; you often barely recognize the person anymore. On top of that, you hear from all possible directions: "I’m still owed money"; probably above all from the lending bank. So, it’s understandable to me that the price dropped quickly—after all, the sellers want to get out of this difficult situation as soon as possible, even if it means accepting less than hoped for.

Dirk Grafe schrieb:

@BeHaElJa estimates the house at 435K€ - I estimate around 340K€ based on NHK with basic standard and without knowledge of the local factor (both including the land!). (Although I am not sure if the 435K€ includes incidental costs!?)

BeHaElJa is an amateur!

Dirk Grafe schrieb:

So the question is... is the quality really as described or not? Based on the photos of the exterior, I am rather critical; inside it might be more reasonable. I don’t see upscale finishes that would justify BeHaElJa’s price—neither outside, inside, nor in the description.

If you keep in mind that the single-family house is just a bit over 1 year old, and that the sale price covers not only the house and the land but also the prefabricated garage (with a non-standard size) and parts of the landscaping, the price and quality fit pretty well together in my opinion for a single-family house from this provider. I wouldn’t call it upscale; if it were, we’d realistically be looking at a different sale price—but it’s not terrible either.

Best regards, Bauexperte

schuckie3 Sep 2015 12:57

#56

Honestly, I’ve been asking myself that question the whole time as well. Opinions vary quite a lot here… It’s not really getting any easier for me.

Bauexperte3 Sep 2015 13:04

#57