Hello,
In our area, it is very difficult to find an affordable plot of land. Recently, we noticed one that is somewhat special but quite large.
So far, it is a large plot of about 1400 sq m (15,000 sq ft).
It is planned to be divided, with two detached single-family houses to be built on it.
Because of the specific location, an access road needs to be constructed (see simulation—instead of the row houses, there will be two separate houses).
The plot must be developed with a particular general contractor (GC).
They have apparently already obtained a cost estimate for this, including the demolition of the existing building.
The access will belong to both parties, and the costs will be split between them.
The costs have been listed by the GC in an initial sample calculation as follows:
External development costs €30,000
Demolition work €22,500
Special foundation / foundation elevation €10,000
Removal of excavated earth and backfilling €10,000
Do you think these estimates could be roughly accurate for a project like this? The costs mentioned above also include the “normal” additional construction expenses for the single-family houses. No distinction was made between the driveway and the house.
Are these projected costs realistic?
Do you see any other risks with this approach? For example, what if the other party stops paying their half? Then we wouldn’t be able to proceed...
Definitely an unusual project, and I look forward to your assessments!
Best regards
In our area, it is very difficult to find an affordable plot of land. Recently, we noticed one that is somewhat special but quite large.
So far, it is a large plot of about 1400 sq m (15,000 sq ft).
It is planned to be divided, with two detached single-family houses to be built on it.
Because of the specific location, an access road needs to be constructed (see simulation—instead of the row houses, there will be two separate houses).
The plot must be developed with a particular general contractor (GC).
They have apparently already obtained a cost estimate for this, including the demolition of the existing building.
The access will belong to both parties, and the costs will be split between them.
The costs have been listed by the GC in an initial sample calculation as follows:
External development costs €30,000
Demolition work €22,500
Special foundation / foundation elevation €10,000
Removal of excavated earth and backfilling €10,000
Do you think these estimates could be roughly accurate for a project like this? The costs mentioned above also include the “normal” additional construction expenses for the single-family houses. No distinction was made between the driveway and the house.
Are these projected costs realistic?
Do you see any other risks with this approach? For example, what if the other party stops paying their half? Then we wouldn’t be able to proceed...
Definitely an unusual project, and I look forward to your assessments!
Best regards
M
Mickykitty17 Jul 2020 16:36Tassimat schrieb:
What exactly is being demolished?I’m wondering the same. The sales representative from the general contractor keeps insisting there is a house on the site. We couldn’t see any, and the neighbor confirmed that as well.
It’s all quite strange.
@11ant
How my prince or frog will turn out is completely uncertain.
I’m aware that with €500,000 around Düsseldorf, you can’t do everything you want. So I’m open to compromises. If one feature I wish for can’t be realized, but there’s another great advantage that compensates for it, that’s fine with me.
Tassimat schrieb:
What exactly is being demolished? The garage of the neighbor on the right is at least partially located on the property, and paved paths from the neighbor on the left lead onto the building plot. Additionally, there are extensive structural features on the site; these are difficult to see on Google Earth, but I believe they are retaining walls and raised beds.
Mickykitty schrieb:
No idea how steep the land rises at the back. About 12m (40 feet).
Mickykitty schrieb:
So it fits. Yes.
Mickykitty schrieb:
Whether that makes sense and if a garden at the back can be used. ... depends on how you want to use it. The residents of the villa have apparently created a beautiful park-like garden, and the neighbors on the right also seem to have a pleasant retreat. @hampshire certainly has plenty of ideas for designing a nice garden without a large budget. However, you can forget about a pool.
Mickykitty schrieb:
And therefore, we will definitely pass on this project. That’s a pity. Considering the odd circumstances and the obligation to a general contractor, it’s understandable.
11ant schrieb:
Simple calculation with 3m, but here it will be half an hour or more. No, not in North Rhine-Westphalia. It’s only 0.4 hours, and since January 1, 2019, there have been additional relaxations for building classes 1 and 2.
11ant schrieb:
And I would clearly see this as more likely two semi-detached houses. I don’t. I prefer a freestanding narrow house to a wide semi-detached house. Without the commitment to a general contractor and shared driveway, I’d find it interesting—if accessibility isn’t a priority.
M
Mickykitty17 Jul 2020 19:31@Escroda
Wow, it sounds like you’re familiar with the plot and project. The world is small.
In principle, a sloped garden is not an absolute dealbreaker for me; you can definitely create something great with it. However, it’s not my first choice. Since there are too many disadvantages combined with the financial aspect being really too risky, we will continue searching.
Wow, it sounds like you’re familiar with the plot and project. The world is small.
In principle, a sloped garden is not an absolute dealbreaker for me; you can definitely create something great with it. However, it’s not my first choice. Since there are too many disadvantages combined with the financial aspect being really too risky, we will continue searching.
R
Reinhard84.217 Jul 2020 20:24This is Wuppertal, right? Isn’t it significantly cheaper there?
Mickykitty schrieb:
As if you know the site and project No. I only know how to read the traces.
Reinhard84.2 schrieb:
This is Wuppertal, isn’t it? No.
H
hampshire19 Jul 2020 18:5311ant schrieb:
So I stick to the assessment that this is an attempt to make use of leftover materials from a failed project.And with some imagination and budget, you can turn it into something unique. It was similar for us; originally, three houses were planned, then the developer went bankrupt and the land lay dormant for a long time. Mickykitty schrieb:
I doubt that you can manage the incidental building costs for this plot with just €100,000.Even with lower-cost soil types—driveway, slope support, landscaping for houses—€100,000 would be an absolute bargain. €200,000 would not be unrealistic. Mickykitty schrieb:
A sloped garden is not an absolute no-go for me; you can definitely create something great from it.Flat is easy... a slope can have enormous charm. This plot is probably more suitable for someone who is building one house for themselves, has some budget flexibility, and is committed to carrying out their own project. Naturally, two houses could also fit—but good luck finding the ideal neighbor to partner with on that. The setup is unfavorable. For a developer, this kind of development is potentially costly—the gap between the expected sale price and the construction cost is anticipated to be too small.
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