ᐅ Additional Costs When Purchasing a Plot of Land – Property Tax?
Created on: 15 May 2016 01:09
H
Henrik0817123
Hello,
we are currently considering building a new house, and I have just learned that besides the additional costs when purchasing a plot of land and the usual monthly utility costs for energy, water, waste, etc., there is also the so-called property tax...
The calculation doesn’t seem straightforward and varies depending on the location, but is it theoretically possible that this could amount to several hundred euros per month?
We plan to build about 160 sqm (1,720 sq ft) of living space over two floors on a 700–900 sqm (7,535–9,688 sq ft) plot in North Rhine-Westphalia (Essen, Wuppertal) – I hope I might have made a mistake somewhere in my calculations... If not, this could really be a dealbreaker for many, since that would mean substantial additional costs?
we are currently considering building a new house, and I have just learned that besides the additional costs when purchasing a plot of land and the usual monthly utility costs for energy, water, waste, etc., there is also the so-called property tax...
The calculation doesn’t seem straightforward and varies depending on the location, but is it theoretically possible that this could amount to several hundred euros per month?
We plan to build about 160 sqm (1,720 sq ft) of living space over two floors on a 700–900 sqm (7,535–9,688 sq ft) plot in North Rhine-Westphalia (Essen, Wuppertal) – I hope I might have made a mistake somewhere in my calculations... If not, this could really be a dealbreaker for many, since that would mean substantial additional costs?
C
Caspar202016 May 2016 09:51BeHaElJa schrieb:
Natural hazard damages are insured. Residential building insurance plus natural hazard coverage for 120€ per year? Really good price. May I ask where? Because I still come across prices of 300-350€ for both.
C
Caspar202016 May 2016 10:13BeHaElJa schrieb:
We don’t have wallpaper, but I get what you mean... IPlaster and paint tend to absorb smoke quite well. The issue with all these cases is often not so much the material itself, but the work required to properly restore everything. And that’s something you usually can’t do yourself, or it rarely goes as planned.
The same applies to water damage outside the wall.
A colleague had a small sink in his attic. The hose under the sink developed a small hole, and water leaked out for over two weeks (while he was on vacation). The water found its way beneath the screed and inside the empty conduits; among other places, it reached the basement. The total damage was €120,000 (approx. $130,000); and they couldn’t live in the house for three months due to drying measures and restoration. Contents insurance and building insurance would have covered everything if the coverage wasn’t underinsured (contents insurance applies if below €650 (approx. $700) per square meter).
Then, contents insurance only pays proportionally according to the value of the insured household goods. And in that case, it added up. His declared contents value was only €140,000 (approx. $150,000)—he had usually estimated around €70,000 to €80,000 (approx. $75,000 to $85,000)—because people tend to count only furniture and things like that as household contents.
C
Caspar202016 May 2016 10:14BeHaElJa schrieb:
I think it’s about €144 (around $158) with a €300 (about $330) deductible.I need to keep that in mind. Sounds really good.
H
HilfeHilfe16 May 2016 10:20BeHaElJa schrieb:
Huk 24. I think it's about €144 on a €300 deductible. With huk24... Well, the building insurance costs us €300 per year without deductible.
Similar topics