ᐅ Additional Costs When Purchasing a Plot of Land – Property Tax?
Created on: 15 May 2016 01:09
H
Henrik0817123
Hello,
we are currently considering building a new house, and I have just learned that besides the additional costs when purchasing a plot of land and the usual monthly utility costs for energy, water, waste, etc., there is also the so-called property tax...
The calculation doesn’t seem straightforward and varies depending on the location, but is it theoretically possible that this could amount to several hundred euros per month?
We plan to build about 160 sqm (1,720 sq ft) of living space over two floors on a 700–900 sqm (7,535–9,688 sq ft) plot in North Rhine-Westphalia (Essen, Wuppertal) – I hope I might have made a mistake somewhere in my calculations... If not, this could really be a dealbreaker for many, since that would mean substantial additional costs?
we are currently considering building a new house, and I have just learned that besides the additional costs when purchasing a plot of land and the usual monthly utility costs for energy, water, waste, etc., there is also the so-called property tax...
The calculation doesn’t seem straightforward and varies depending on the location, but is it theoretically possible that this could amount to several hundred euros per month?
We plan to build about 160 sqm (1,720 sq ft) of living space over two floors on a 700–900 sqm (7,535–9,688 sq ft) plot in North Rhine-Westphalia (Essen, Wuppertal) – I hope I might have made a mistake somewhere in my calculations... If not, this could really be a dealbreaker for many, since that would mean substantial additional costs?
H
HilfeHilfe15 May 2016 21:39Unfortunately, our Henrik still needs to learn how to calculate.
H
Henrik081712316 May 2016 08:09For a KFW-55 house with my 160 sqm (1,722 sq ft), do I also have to expect around 400 euros in monthly additional costs? I actually thought that mainly applied to older houses, especially regarding heating costs.
That surprises me a bit...
That surprises me a bit...
We currently pay a monthly advance of 110€ for electricity (including heating), 32€ for waste disposal, property tax (?), and insurance about 10€ – which adds up to roughly 200€ (assuming 50€ for property tax) for 190 m² (2,045 ft²).
Now the question is, what should be included in reserves.
Now the question is, what should be included in reserves.
H
Henrik081712316 May 2016 08:24Electricity would come from a solar system for us, at least a large part of it probably. Savings for a new build?
C
Caspar202016 May 2016 08:32@BeHaElJa: Is this only for residential buildings or does it also include natural disaster insurance?
(Home contents insurance is also a bit more expensive than for an apartment)
Liability insurance for property owners?
And what about water/sewage charges?
And street cleaning?
@Henrik0817123: If you don’t want to finance every renovation or maintenance with a loan, it’s recommended to set aside €0.50-1 per square meter (10.8-21.5 cents per square foot) monthly.
Heat pumps and solar panels don’t last forever. And many other things in the house don’t either.
(Home contents insurance is also a bit more expensive than for an apartment)
Liability insurance for property owners?
And what about water/sewage charges?
And street cleaning?
@Henrik0817123: If you don’t want to finance every renovation or maintenance with a loan, it’s recommended to set aside €0.50-1 per square meter (10.8-21.5 cents per square foot) monthly.
Heat pumps and solar panels don’t last forever. And many other things in the house don’t either.
H
HilfeHilfe16 May 2016 08:56Henrik0817123 schrieb:
Electricity would come from our solar system, at least a large part of it, probably. Reserve funds for a new build? As Caspar mentioned, even for a new build, you should set aside at least 50 cents per square meter as reserve funds. For you, that would be 90€ per month. For example, we also pay for inspections of the air pump, solar system, and water softener. I believe that totals about 400€ per year. You take your car for oil changes and inspections too, right?
Similar topics