ᐅ Location, location, location! Or is it not that important after all?
Created on: 24 Feb 2019 11:09
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Camille1984
Hello,
Some time ago, I started a thread here asking whether it would be possible for a well-earning divorced woman with one child to realize the lifelong dream of owning a house. The responses were very kind, as long as I continued to approach this dream realistically.
Now the rather challenging search for land begins, and I quickly found myself facing the current reality again...
I currently live in a small town in the Eastern Alb district, about 65 km (40 miles) from Stuttgart. In this small town, the price per square meter for land in new development areas is around 250€ per sqm (about $270 per sq ft) and rising. I currently have a commute of about 15 km (9 miles) to my workplace. My workplace is in another nearby small town where land prices range from around 220€ per sqm (about $237 per sq ft) in the suburbs to much higher (city center), depending on the location. Unfortunately, I cannot afford these prices! No matter how much I calculate.
The more I look around, the more I realize that about every 20 to 30 km (12 to 19 miles) there are well-equipped small towns with good infrastructure and connections to Stuttgart or Ulm. Land prices in the villages beyond this are also extreme (usually from 200€ per sqm (about $215 per sq ft) upwards). In addition, there is the so-called “locals’ model” restricting purchases.
Now, a new development area is being designated in a nearby village with around 1200 inhabitants. I like the surroundings. Shopping options are accessible by car. There is a primary school and kindergarten on site (you should never say never) and there is good bus service to secondary schools for my son. For hobbies, driving is necessary, but I am used to this and willing to accept it. I myself come from a very rural area. The price is 150€ per sqm (about $161 per sq ft), also rising. For me, this is basically the upper limit...
I am considering applying for a building plot there. The downside is the significantly longer commute to my workplace of about 25 km (16 miles). Since I have civil servant status for life, I see little need to sell the house again, unless something happens to me and I have to sell. But then I would have other problems anyway. My son will probably not necessarily move into this house when he is an adult. If he inherits anything, great; if not, that’s just how it is.
How important would you rate the location of the land when financial resources are limited? My parents bought their house about 35 years ago by moving away from the metropolitan area into the countryside. Would you look for land further out to realize your dream? I am just uncertain...
Some time ago, I started a thread here asking whether it would be possible for a well-earning divorced woman with one child to realize the lifelong dream of owning a house. The responses were very kind, as long as I continued to approach this dream realistically.
Now the rather challenging search for land begins, and I quickly found myself facing the current reality again...
I currently live in a small town in the Eastern Alb district, about 65 km (40 miles) from Stuttgart. In this small town, the price per square meter for land in new development areas is around 250€ per sqm (about $270 per sq ft) and rising. I currently have a commute of about 15 km (9 miles) to my workplace. My workplace is in another nearby small town where land prices range from around 220€ per sqm (about $237 per sq ft) in the suburbs to much higher (city center), depending on the location. Unfortunately, I cannot afford these prices! No matter how much I calculate.
The more I look around, the more I realize that about every 20 to 30 km (12 to 19 miles) there are well-equipped small towns with good infrastructure and connections to Stuttgart or Ulm. Land prices in the villages beyond this are also extreme (usually from 200€ per sqm (about $215 per sq ft) upwards). In addition, there is the so-called “locals’ model” restricting purchases.
Now, a new development area is being designated in a nearby village with around 1200 inhabitants. I like the surroundings. Shopping options are accessible by car. There is a primary school and kindergarten on site (you should never say never) and there is good bus service to secondary schools for my son. For hobbies, driving is necessary, but I am used to this and willing to accept it. I myself come from a very rural area. The price is 150€ per sqm (about $161 per sq ft), also rising. For me, this is basically the upper limit...
I am considering applying for a building plot there. The downside is the significantly longer commute to my workplace of about 25 km (16 miles). Since I have civil servant status for life, I see little need to sell the house again, unless something happens to me and I have to sell. But then I would have other problems anyway. My son will probably not necessarily move into this house when he is an adult. If he inherits anything, great; if not, that’s just how it is.
How important would you rate the location of the land when financial resources are limited? My parents bought their house about 35 years ago by moving away from the metropolitan area into the countryside. Would you look for land further out to realize your dream? I am just uncertain...
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nordanney24 Feb 2019 14:59You can almost cover 25 km by bike. That’s practically a stone’s throw away. Try living in the Ruhr area or near Düsseldorf/Cologne. There, even 10 km can mean an hour’s commute every day.
Location is definitely important. That also explains the somewhat lower price per square meter you mentioned. But location doesn’t just mean the town itself. Whether a property is at the beginning or end of a street can significantly affect its price or marketability. Only you can judge this, since we don’t know the location of the town, the development area within the town, or your desired plot. For example, you might pick a south-facing plot. Just across the street it faces north, and there might be a power pole or railway track adjacent to the garden. These few meters and other conditions can make the plot unsellable or drastically reduce its value. Even though it’s the same town, the same development area, the same street, and just one number up.
You have to decide whether a plot or house is worth its asking price to you.
P.S. As long as you don’t plan to sell it anytime soon, your loss is zero. If you live happily in it until the end of your life, you did everything right and have nothing to regret.
Location is definitely important. That also explains the somewhat lower price per square meter you mentioned. But location doesn’t just mean the town itself. Whether a property is at the beginning or end of a street can significantly affect its price or marketability. Only you can judge this, since we don’t know the location of the town, the development area within the town, or your desired plot. For example, you might pick a south-facing plot. Just across the street it faces north, and there might be a power pole or railway track adjacent to the garden. These few meters and other conditions can make the plot unsellable or drastically reduce its value. Even though it’s the same town, the same development area, the same street, and just one number up.
You have to decide whether a plot or house is worth its asking price to you.
P.S. As long as you don’t plan to sell it anytime soon, your loss is zero. If you live happily in it until the end of your life, you did everything right and have nothing to regret.
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Camille198424 Feb 2019 15:00Thank you.
I also believe that distance or location inevitably has to be one of many compromises.
I will now apply for a plot of land with the local authority. Whether I actually get one remains uncertain.
Prices under 200€ are just a dream here, except for very remote areas.
A small example: Within a radius of 50 meters (31 miles), there are the following towns, all connected to Stuttgart or Ulm: Eislingen/Fils, Göppingen, Süßen, Donzdorf, Geißlingen, Schwäbisch Gmünd, Schorndorf, Heubach, Aalen... Between these towns, there are not many villages with affordable prices...
I also believe that distance or location inevitably has to be one of many compromises.
I will now apply for a plot of land with the local authority. Whether I actually get one remains uncertain.
Prices under 200€ are just a dream here, except for very remote areas.
A small example: Within a radius of 50 meters (31 miles), there are the following towns, all connected to Stuttgart or Ulm: Eislingen/Fils, Göppingen, Süßen, Donzdorf, Geißlingen, Schwäbisch Gmünd, Schorndorf, Heubach, Aalen... Between these towns, there are not many villages with affordable prices...
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Camille198424 Feb 2019 15:02Oh, I studied in Munich and lived on the edge of the inner city ring. Even then, my commute to the university was 40 minutes. Depending on the location, it could even take longer. I didn’t really mind because I simply couldn’t afford to live more centrally.
It’s funny how things change... And when I was going to school earlier, the bus ride was about 30 minutes, and driving to the shops took around 15 minutes, etc.
It’s funny how things change... And when I was going to school earlier, the bus ride was about 30 minutes, and driving to the shops took around 15 minutes, etc.
My commute will increase from 2 to 18 meters (12 miles) after moving in, and all other personal trips will also be longer in the future, but I still think the change from renting to owning is worth it. We could forget about building or buying directly with calcium silicate bricks, both because of the price and the endlessly long wait for a municipal building plot. We searched for 5 years without success. It will be an adjustment at first, but I am literally counting on getting used to the driving eventually, and rural life does have its advantages. So: a definite yes. If it’s realistic, go for it. Hesitating and waiting currently leads to nothing but the next price increase.
M4rvin schrieb:
I think the distance has increased by 25km (15 miles) now! So instead of 15km (9 miles), it’s 40km (25 miles)... I find that quite a lot, unless these are highway kilometers!
With the local model, we saved about 50%, so instead of €500 (about $540) per square meter, it’s only €250 (about $270) per square meter.
Of course, that’s a huge amount of money, but it’s only about a 30-minute drive on rural roads to Nuremberg.
Location has its cost, and it has to be worth it to you! Where exactly is your plot located? I also have about a 25-minute commute to Nuremberg for work.
Zaba12 schrieb:
Where exactly is your plot located? I also have a 25-minute commute to work in Nuremberg. Apparently, you’ve already figured that out yourself! 🙂