ᐅ Semi-detached house built in 2003 with land: What is a realistic price?

We have found our house, now we just have to hope we actually get it...
Semi-detached house, built in 2003, at that time with land for €250,000, now they want to sell it to us and we are wondering: What price is realistic? Does a house lose value in such a short time? Or is the price higher today because it doesn’t need to be newly built but is ready to move in? How should we approach the price negotiation?!

Best regards

Hi,

the price depends on location, location, and location *lol At least, that’s what I was taught during my real estate training.
To give you an estimate, you would need to know where the house is located, what the outbuildings are, and the connections to schools, public transport, and shops.
Then you also have to consider the condition of the house and why the owners are selling after 8 years.
I would take all of these factors into account.

Best regards, Bromi

Ok, so about the location: Everything around here is actually expensive because, first, the connection to Stuttgart is good, and second, hardly anyone moves away from here.

The kindergarten is 30 meters (100 feet) up the street, and the elementary school is 300 meters (980 feet) further—so it's a prime location.

The house is in great condition.

As for the question "why are they selling then?": They want to move back to where their friends and family live (about 50 km (30 miles) away). Eight years ago, they were able to build here relatively cheaply, but now they realize they don’t feel very comfortable... since they can’t just drop by their parents or friends for coffee anymore.

I also know the people, and the situation is a bit complicated: They want us to wait until they find something—on the other hand, we get the house without an agent and at a good price... But what exactly counts as a "good price" in this case, I don’t really know.

Best regards

Hi,

I don’t think there’s much room to negotiate the price.

Maybe you can find other similar offers and compare the prices.
If you want to be precise, you could hire an appraiser to evaluate the house including the land.
Unfortunately, I can’t help you further. I’m not familiar with the land prices in that area.

Regards, Bromi

Hello elvsiett,

As mentioned before, it is not possible to estimate prices without knowing the property itself.

Based on your information, I assume it is a semi-detached house near Stuttgart (with good transport connections) with about 140 sqm (1500 sq ft) of living space? There are plenty of houses in the area online that easily exceed a price of €250,000. So €350,000 is also not unrealistic for that... You should check the relevant websites for similar houses in your area – then you will know whether the price is justified based on the facts or not.

Property prices usually increase over the years. Inflation alone (assumed 3%) would raise the price to over €300,000 in 8 years. In addition, the family living there will probably have carried out some renovations, installed a kitchen, created car parking spaces, and landscaped the garden, etc.?

They want us to wait until they find something – in return we get it without a real estate agent and at a good price... But what I can consider a "good price" in this case, I honestly don’t know...

Only asking will help. If you are €50,000 apart, it will probably be hard to reach an agreement quickly, even if you have a good friendship.

Waiting until they move out is definitely an option. Just the saved real estate agent fees alone are worth several months’ rent. What you should keep in mind: you probably also need financing. Since interest rates are currently low, you should consider buying the house now – that way you secure legal certainty and benefit from low interest rates. The timing of the family’s move-out can be arranged flexibly...

Best regards

but then pay rent and the mortgage? I hardly think many people can manage that.
At least a preliminary sales contract would certainly be advisable – wouldn’t it?
Regards, Bromi