Hello everyone,
We have owned a plot of land for one year. It is not very large (389 m² (4185 ft²)), but the zoning plan allows quite a lot of development.
We have decided against building a single-family house ourselves.
Friends encouraged us to consider whether we might build a multi-family house on the property as an investment. Especially now that the KFW provides higher repayment subsidies.
Several ideas have emerged.
1. Build a multi-family house maximizing the living area, with all apartments rented out.
2. Build a three-family house, with one apartment per floor. We would live in the ground-floor apartment and rent out the upper and attic floors to two of my siblings.
3. Build a duplex with one of my siblings, where each of us would have and live in an independent condominium unit.
Would you consider doing something like this, or is there anyone here who has already done something similar?
What is the best way to proceed? Should we request offers for all three options and then choose the best one?
We have owned a plot of land for one year. It is not very large (389 m² (4185 ft²)), but the zoning plan allows quite a lot of development.
We have decided against building a single-family house ourselves.
Friends encouraged us to consider whether we might build a multi-family house on the property as an investment. Especially now that the KFW provides higher repayment subsidies.
Several ideas have emerged.
1. Build a multi-family house maximizing the living area, with all apartments rented out.
2. Build a three-family house, with one apartment per floor. We would live in the ground-floor apartment and rent out the upper and attic floors to two of my siblings.
3. Build a duplex with one of my siblings, where each of us would have and live in an independent condominium unit.
Would you consider doing something like this, or is there anyone here who has already done something similar?
What is the best way to proceed? Should we request offers for all three options and then choose the best one?
Yaso2.0 schrieb:
The development plan is generally quite flexible.A maximum of a two-story building with an attic conversion... open construction style... are there any multi-family houses nearby?
389 sqm (4186 sq ft) / II / plot ratio 0.35 / floor area ratio 0.7: I see 136 sqm (1464 sq ft) built-up area, 272 sqm (2928 sq ft) living space, and a two-and-a-half-story building (e.g., 108, 108, and 56 sqm (1162, 1162, and 602 sq ft)), assuming best case that parking spaces, etc., can be covered by the plot ratio II. Difficult relatives under one roof make you ready for a vacation; I would avoid that—just as I would avoid being too close to tenants’ petty issues by living in the same building.
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ypg schrieb:
A maximum of a two-story building with an attic conversion... open construction style... are there any multi-family houses nearby? The surrounding area mostly consists of single-family homes, but there are also a few multi-family houses with two residential units on the ground and first floors, plus one in the attic.
11ant schrieb:
389 sqm (4185 sq ft) / II / site coverage ratio 0.35 / floor area ratio 0.7: that suggests about 136 sqm (1464 sq ft) footprint, 272 sqm (2926 sq ft) living space, and a two-and-a-half-story building (e.g. 108, 108 and 56 sqm (1163, 1163 and 603 sq ft)), assuming the parking spaces etc. can be counted with the floor area ratio II. Having difficult relatives in the house is exhausting, I would avoid that—as well as being too close to tenants by living in the same building yourself for trivial reasons. Our calculations on the possible living spaces came to the same conclusion. Parking spaces make a significant difference.
Almost everyone advises us against moving in ourselves. At the moment, it’s just a thought experiment.
In the neighborhood, there is also a building with six residential units, where I see only one parking space on the property. All the others are parked on the street. How is that possible?
N
nordanney31 Jan 2020 11:27Yaso2.0 schrieb:
Would it make sense to accommodate as many housing units as possible (e.g., 5 smaller apartments: 2 on the ground floor, 2 on the first floor, and 1 in the attic), or would it be better to offer 3 larger apartments? It depends.
Smaller units usually mean slightly higher rent but come with increased management effort and, over time, higher costs due to more frequent tenant turnover and renovation work.
What is in demand in your area? Generally, it’s best to build based on local needs.
nordanney schrieb:
That depends.
Smaller units usually mean slightly higher rent, but also more administrative effort and, over time, higher costs when tenants change since renovations are often needed.
What is in demand in your area? Normally, construction is somewhat based on demand. Maybe you can give me a tip if I briefly explain the current situation here!
The neighborhood is very popular with families. A daycare center will soon be built 200m (220 yards) from the plot, another one is 500m (550 yards) further away, and an elementary school is also only 500m (550 yards) away. The secondary school is just 1.5km (1 mile) away. The district is about 17km (11 miles) from the city center, but the plot itself is centrally located within the district! Everything is within walking distance. Bus stop 250m (270 yards), train station 1.5km (1 mile), bakery 250m (270 yards), highway access 1.5km (1 mile), all shopping facilities and doctors are reachable on foot within 5-10 minutes or by car in 1-2 minutes.
Once you start writing, you notice it yourself... it seems that larger apartments have many advantages. ops:
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