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?
Umbau-Susi16 May 2016 13:06BeHaElJa schrieb:
We don’t have household goods
but we are saving on the side... although I have to say it’s hard for me not to use the money for other purposes given the interest rates. On the other hand, I am even less motivated to look up the interest rate list for the daily allowance, so for now, it just stays there. I definitely need to get used to the saving approach as well
Sebastian79 schrieb:
Yes, my beautiful tool... over 3,000 euros (about $3,300) in damage...
Saturday noon...Terrible. Absolutely terrible. I’m so sorry for you.
These days, break-ins can happen anytime. Saturday noon is not unusual at all.
These are terror gangs. They’re also rampaging here in Velbert. I find that extremely upsetting. But the police would rather run speed camera marathons... Catching burglars seems to be really difficult for them.
Burglary and theft: I was also very worried about that during the construction phase. It couldn’t be insured at that time. I had sleepless nights, especially when the valuable heating components were just lying around, not yet installed... so I stayed a few nights in the unfinished building with Luma and five blankets just to be safe (cold, shivering!).
Now, after moving in, I have full coverage with new replacement value insurance everywhere. If there’s a break-in, we get the replacement value. Damages from failed break-in attempts are also covered. For natural hazard damages, water (in a timber-framed house, water damage quickly means total loss—I’m thinking about 30 cm (12 inches) flooding on the ground floor), fire, lightning, or tornadoes (laughing), a new house will be built. For me, the risk related to the value is just too high, so I prefer to pay a bit more each month.
From an insurance perspective, the construction phase is critical, especially for components not yet connected to the building structure (tools, materials).
I’m still afraid of break-ins, even though everything is built with security locks and I now have a small alarm system... As long as these gangs can rampage so freely as they do here in this country, my fear won’t lessen.
All the best to you.
Thorsten
Just as a note, our general contractor used the same locks for all construction sites. After I found that out, I stopped storing any expensive tools there. Even during lunch breaks, the doors were left open with no workers around. Anyone could have helped themselves to the tools.
BeHaElJa schrieb:
Thorsten, how much do you pay for your household insurance per month?We pay 190.72 euros per year for it, which is 15.90 euros per month. The coverage amount is 70,000 (70T) euros, replacement value.
Since we are not wealthy (especially not after building the house) and don’t have antique luxury furniture or any valuable items stored here, this coverage amount is fine.
I discussed this with an insurance specialist; we had everything appraised and added a safety margin.
It includes heavy rain coverage Plus (not very likely, but very cheap) and earthquake damage to household contents (with a 20% deductible here), although earthquakes in Velbert are quite rare.
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