ᐅ Is the plot of land too expensive for your overall budget?
Created on: 13 Jun 2019 17:08
M
Mamahoch2
Hello everyone!
I just registered because my husband and I are moving back to beautiful Lower Saxony from the Stuttgart area and are planning to build a house.
We have found a plot of land that we really like. This plot costs about 120,000€ (approximately $130,000). We have been thinking that our finished house, including all ancillary building costs, notary fees, the land, property transfer tax, and everything else involved, shouldn’t cost much more than 500,000€ (about $545,000). This would leave us some room for interior design like the bathroom, kitchen, flooring, and so on. Is this a realistic plan, or would it be wiser to look for a smaller plot?
This is all completely new to us, so I would really appreciate any helpful advice!
Best regards
I just registered because my husband and I are moving back to beautiful Lower Saxony from the Stuttgart area and are planning to build a house.
We have found a plot of land that we really like. This plot costs about 120,000€ (approximately $130,000). We have been thinking that our finished house, including all ancillary building costs, notary fees, the land, property transfer tax, and everything else involved, shouldn’t cost much more than 500,000€ (about $545,000). This would leave us some room for interior design like the bathroom, kitchen, flooring, and so on. Is this a realistic plan, or would it be wiser to look for a smaller plot?
This is all completely new to us, so I would really appreciate any helpful advice!
Best regards
N
nordanney14 Jun 2019 07:54tomtom79 schrieb:
How can you say that 120k is not expensive? Where is the size of the plot? This is based on experience referring to the total price of 120,000 euros. Per square meter, anything under 200€ (approximately $220) is considered cheap, while over 400€ (approximately $440) is expensive—nationwide.
The mentioned 120,000 euros represent just under 25% of the total costs. For my last house, this share was over one-third (price per sqm 320€ / about $350). In Munich, you’re generally looking at more than 50%—that’s where it really gets expensive.
It always depends on your personal frame of reference and benchmark. Here in the south, prices are quite steep, ranging from about 750€ to 1,000€ per m² (square meter). Based on this benchmark, I would personally say:
<250€ per m² (square meter) is cheap
>1,000€ per m² (square meter) is very expensive
Of course, it looks different in other regions.
<250€ per m² (square meter) is cheap
>1,000€ per m² (square meter) is very expensive
Of course, it looks different in other regions.
So here in the area (Hessen), anything over 100€/sqm (around $110/sq ft) is considered expensive, and normally prices range between 40-70€/sqm (about $44-$77/sq ft). We even paid just 34€/sqm (approximately $37/sq ft).
It’s always striking how extreme the differences can be depending on the region.
It’s always striking how extreme the differences can be depending on the region.
N
nordanney14 Jun 2019 10:51Yosan schrieb:
Here in this area (Hessen), anything above €100 per square meter (about $110 per square foot) is considered expensive, and normally it’s more like €40–70 per square meter (about $44–65 per square foot).
We even paid only €34 per square meter (about $37 per square foot).
It’s always surprising how much prices can vary depending on the region. Then you must be living in a fairly rural area. Prices tend to be different closer to the city (Frankfurt, Wiesbaden, Darmstadt, etc.).
€34 per square meter (about $37 per square foot) for serviced land? Usually, for that price, you only get the utility connections — or it’s located somewhere in the middle of nowhere.
nordanney schrieb:
Then you live in a fairly rural area. All locations closer to the city (Frankfurt, Wiesbaden, Darmstadt, etc.) have different prices.
34€ per square meter connected? For that price, you usually only get the site development—or you live somewhere in the middle of nowhere. We live in western central Hesse. Even looking at areas like Marburg and Gießen, prices are significantly higher.
The 34€ was for connected land in the sense that all infrastructure was available in the street in front of the property (so, not yet on the property itself).
Yosan schrieb:
We live in western central Hesse. Even when looking at Marburg and Gießen, prices are significantly higher there.
The €34 charge was for infrastructure that was installed in the street in front of the property (so not yet on the property itself). Then the municipality is likely on a downward economic and demographic trend. It probably purchased agricultural land for very little and only added the infrastructure costs. This way, it can resell the land at such a price hoping to attract economically capable families—either young newcomers or "young old" residents—to stay in the town, thus countering its decline. Suburbs of Gießen or Wiesbaden, for example, likely don’t need such measures.
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