ᐅ Is the plot of land too expensive for your overall budget?

We are paying 499 €/m² (approximately 46.35 $/ft²) for a municipally owned plot in the NBG area, located in the northern part of Baden-Württemberg, between Heidelberg and Mannheim.

Thank you for the replies!
The plot of land (more precisely, there are two adjacent plots) is located in Bad Salzdetfurth. €40 per square meter (approximately $40 per square meter), totaling just under 3,000 square meters (around 32,300 square feet).

Mamahoch2 schrieb:

Thanks for the responses!
The plot (actually two adjacent plots) is located in Bad Salzdetfurth. €40 per square meter, nearly 3000 square meters (32,292 square feet) in total.

Then the estimate from Scout fits well, as does my own.
Below-average average income, below-average purchasing power, and declining population numbers for almost 20 years. No major employer in the surrounding towns. The €34 per square meter (about $36 per square yard) price is meant to attract new residents who may commute to employers but want affordable housing.

P.S. I'm not trying to speak badly of your town, just stating that the prices there seem appropriate.

Scout schrieb:

Then the municipality is probably declining both economically and demographically. They likely bought agricultural land for almost nothing and only added the development costs, so they can resell the land at such a price in the hope of attracting economically stable families, either young newcomers or "young-old" residents, to prevent the area from becoming deserted. Suburbs near Gießen or Wiesbaden probably don’t need this.

No. Actually, the area is quite well-equipped with employers for a rural region, and many people who leave for university or vocational training come back later.
We bought an infill plot from acquaintances, located in a residential development from the 1970s… back then, there was no building obligation, so some plots are still owned by families who bought them back then as a precaution. Our sellers bought the land from an old man who no longer wanted to take care of it. They have two sons around my age. Both live in the village (one with his wife), but neither wants to build, so they no longer needed the land.
In new residential areas, prices in neighboring towns are around 45–50€/m² (about $4–5/ft²) and land values have been steadily increasing for years.
The area simply isn’t on anyone’s radar unless they are from here or know someone who lives or grew up here.

Yosan schrieb:

No. In fact, the area is quite well equipped with employers considering its rural character, and many who leave for studies or training later return, etc.

Still, the demographic and economic data are not favorable. That doesn’t mean it’s not a good place to live, though. More people move away than move in. And those working there earn less than average. That’s not necessarily a problem, since housing is also more affordable.
The acquaintances are probably relieved to have sold the plot. An empty plot just causes expenses, and no one can expect significant price increases there.

nordanney schrieb:

Still, the demographic and economic data are not favorable. That doesn’t mean it’s not possible to live well there. However, more people are moving away than moving in. And those who work there earn less than the average. That’s not necessarily a problem, since housing is also more affordable.
The acquaintances probably are also relieved to have sold the land. An empty plot just generates costs, and no one can expect significant price increases there.

Where exactly do you get this information from? How do you know the average income here when I haven’t even named a location?
Our acquaintances didn’t necessarily want to sell the land. In fact, they never listed it anywhere, yet they still received several purchase offers where people were willing to pay significantly more than the mentioned €34/m² (about $35/yd²). But they were pleased that we wanted to move there and that they could support us this way.