Hello everyone, we are Ina and Philipp. We both want to take the next step and build our own home.
We are intentionally moving away from the big city back to the countryside (Ina comes from a rural area). Perhaps some of you remember we have posted here before and shared some bad experiences with looking for land. Thanks to your advice, we quickly figured out what to watch out for. We want to actively share our journey toward homeownership here and are grateful for any tips and tricks.
What is the current status?
We are currently in contact with an owner (over 70 years old) of a plot of land who is willing to sell us 1,400 square meters (15,070 square feet) for 50,000 euros. All utility connections except for gas are already available at the site. The land is currently farmed as agricultural land. The plot is located next to a low-traffic federal road.
Yesterday, we spoke with potential neighbors. They also bought from this gentleman in 2011 and are still very satisfied with the quality of living and housing in the area. The neighbors were in the same situation back then—the land was also used as farmland.
Next Tuesday, we have an appointment with the bank. We will discuss whether to finance the land or possibly pay in cash. The advisor told us on the phone yesterday that we should generally consider paying for the land in cash rather than financing it.
If everything goes well, we will call the owner on Tuesday and hopefully tell him that we want to buy the land. He said yesterday he would then send us all the documents.
We have a specific idea we want to realize: a bungalow (the neighbor’s house is already a bungalow) modeled after a Swedish-style home.
Currently open questions:
Do you already have any advice on what we should pay attention to?
I (Philipp) have some doubts and would prefer to finance the land because the €50,000 should serve as equity/reserve for building the house.
There is a sewage access point right at the edge of the property. The owner said—if I understood correctly—that he would also talk to the water utility company to see if we would not have to buy that part of the land.
Thank you very much for reading this far. We wish you a nice weekend and will continue to report here openly and regularly. We appreciate any feedback or suggestions on things we can clarify early on.
We are intentionally moving away from the big city back to the countryside (Ina comes from a rural area). Perhaps some of you remember we have posted here before and shared some bad experiences with looking for land. Thanks to your advice, we quickly figured out what to watch out for. We want to actively share our journey toward homeownership here and are grateful for any tips and tricks.
What is the current status?
We are currently in contact with an owner (over 70 years old) of a plot of land who is willing to sell us 1,400 square meters (15,070 square feet) for 50,000 euros. All utility connections except for gas are already available at the site. The land is currently farmed as agricultural land. The plot is located next to a low-traffic federal road.
Yesterday, we spoke with potential neighbors. They also bought from this gentleman in 2011 and are still very satisfied with the quality of living and housing in the area. The neighbors were in the same situation back then—the land was also used as farmland.
Next Tuesday, we have an appointment with the bank. We will discuss whether to finance the land or possibly pay in cash. The advisor told us on the phone yesterday that we should generally consider paying for the land in cash rather than financing it.
If everything goes well, we will call the owner on Tuesday and hopefully tell him that we want to buy the land. He said yesterday he would then send us all the documents.
We have a specific idea we want to realize: a bungalow (the neighbor’s house is already a bungalow) modeled after a Swedish-style home.
Currently open questions:
Do you already have any advice on what we should pay attention to?
I (Philipp) have some doubts and would prefer to finance the land because the €50,000 should serve as equity/reserve for building the house.
There is a sewage access point right at the edge of the property. The owner said—if I understood correctly—that he would also talk to the water utility company to see if we would not have to buy that part of the land.
Thank you very much for reading this far. We wish you a nice weekend and will continue to report here openly and regularly. We appreciate any feedback or suggestions on things we can clarify early on.
Andre77 schrieb:
@philipp1990 please take a look here, or google "Boris Sachsen"
there you will also find the standard land value and whether the land is ready for buildingThese values are complete nonsense, you can forget them all. For our city, the values range from 20 to 50 euros. A joke. The actual price for building land is about 110 euros. These are the prices set by the municipality and not any kind of price gouging or similar.P
philipp199025 Aug 2019 08:28kaho674 schrieb:
These figures are completely useless; you can just forget them. For our city, the values listed are between 20 and 50 Euros. A joke. In reality, the building land costs around 110 Euros. These are the official municipal prices, not some overpriced speculation or anything like that.Yes, I understood that. What surprises me, as I mentioned, is why the neighboring plot is marked differently on two pages from the same land source. On one page, it’s designated as building land, and on the other, it isn’t. The house was built in 2011.
kaho674 schrieb:
Those values are complete nonsense; you can just forget them. For our city, the figures range from 20 to 50 euros. A joke. In reality, building land costs around 110 euros. These are the municipality prices, not excessive market rates or anything like that. I can confirm that, the discrepancy is quite remarkable. Our official land value is about 110 euros per square meter (approximately 10.7 square feet), municipal prices are 160 euros per square meter (about 14.9 square feet), and on the open market, if anything is available, at least 400 euros per square meter (around 37.2 square feet). That's four times the official land value… wow.
P
philipp199025 Aug 2019 09:48Bookstar schrieb:
I can confirm that the discrepancy is quite significant. For us, the standard land value is about 110 euros per square meter (ft²), the municipal price is 160 euros per square meter (ft²), and on the open market, if anything is available, at least 400 euros per square meter (ft²). That’s four times the standard land value... wow.We’re not really concerned about the prices; it’s more about whether the land is designated as building land or not. But if the municipalities and authorities really work that slowly, it’s understandable.
philipp1990 schrieb:
So, we’re not really interested in the specific values, it’s more about whether the land is designated for building or not. But if the local authorities and offices are really that slow, that’s understandable. It’s the same situation for us. Our street is shown as farmland, even though it has been buildable land for 3 years.