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Stadtrand30 Apr 2022 08:59Good morning everyone,
After reading quietly for a long time, my wife and I have decided to share a topic with you and hopefully receive some helpful feedback.
We moved into our terraced house in the outskirts of Hanover in late summer 2021. With 140 m² (1,507 sq ft) of living space, the house is more than sufficient for us. However, with a 15 m² (161 sq ft) terrace and about 50 m² (538 sq ft) garden, a bit more outdoor space would be welcome. Adjacent to the five terraced houses (opposite the entrance) is a plot of land that was offered to us (all the owners of the terraced houses together) for purchase at the end of last week. The plot is about 700 m² (7,535 sq ft) in size. It has five old garages/sheds on it (presumably leaky and possibly insulated with asbestos). It is NOT designated as building land and, to our knowledge, cannot be converted into such. The plot can only be accessed by vehicles via our shared driveway. There is no right of way. However, the land could potentially be used as a garden area (playground, barbecue area, planting beds, etc.).
A bit more about the location: We are in a small town in the historic town center with nearby shopping, public transport, banks, a cinema, motorway access, etc. A few kilometers further out, the area becomes quite rural.
We are currently very undecided about what price we would be willing to pay for this plot. On the one hand, it’s just grassland. Fields nearby sell for about 150 EUR per square meter. These can at least be used for agriculture. On the other hand, we would have more space, and our property would probably gain value from the additional communal land. Overall, we would be happy to have the extra area, but not at any price.
So the question(s) for you: What value would you assign to this plot or offer the owner? How would you determine a price that is as fair as possible for both sides?
If you need any more information, we are happy to provide it. Thanks in advance for your feedback.
After reading quietly for a long time, my wife and I have decided to share a topic with you and hopefully receive some helpful feedback.
We moved into our terraced house in the outskirts of Hanover in late summer 2021. With 140 m² (1,507 sq ft) of living space, the house is more than sufficient for us. However, with a 15 m² (161 sq ft) terrace and about 50 m² (538 sq ft) garden, a bit more outdoor space would be welcome. Adjacent to the five terraced houses (opposite the entrance) is a plot of land that was offered to us (all the owners of the terraced houses together) for purchase at the end of last week. The plot is about 700 m² (7,535 sq ft) in size. It has five old garages/sheds on it (presumably leaky and possibly insulated with asbestos). It is NOT designated as building land and, to our knowledge, cannot be converted into such. The plot can only be accessed by vehicles via our shared driveway. There is no right of way. However, the land could potentially be used as a garden area (playground, barbecue area, planting beds, etc.).
A bit more about the location: We are in a small town in the historic town center with nearby shopping, public transport, banks, a cinema, motorway access, etc. A few kilometers further out, the area becomes quite rural.
We are currently very undecided about what price we would be willing to pay for this plot. On the one hand, it’s just grassland. Fields nearby sell for about 150 EUR per square meter. These can at least be used for agriculture. On the other hand, we would have more space, and our property would probably gain value from the additional communal land. Overall, we would be happy to have the extra area, but not at any price.
So the question(s) for you: What value would you assign to this plot or offer the owner? How would you determine a price that is as fair as possible for both sides?
If you need any more information, we are happy to provide it. Thanks in advance for your feedback.
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Fuchsbau3530 Apr 2022 09:47I would first take a look at the standard land values for your area. You can use these as a reference. The costs for demolition and disposal of the garages should be included in the quotation in some way.
Stadtrand schrieb:
that was offered to us (all townhouse owners together) for purchase at the end of last week.To borrow from Klaus Kinski, "I don’t understand the question." (even though the above isn’t exactly a question.) 🙄What does “all townhouse owners together” mean? Is the community supposed to buy it? And if something is offered for sale, isn’t there usually a price included in the offer?
Do you want to buy the land just for yourselves?
How is the forum supposed to know what prices are being paid for “green land” in your area?
Please share a photo from Google Maps so we can get an idea of the additional plot...
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Neubau202230 Apr 2022 13:10Fuchsbau35 schrieb:
I would first look at the local land reference values for your area. They can serve as a guideline. I would also somehow include the costs for demolition and disposal of the garages in the quote. I wouldn’t say you can rely on land reference values anymore. In our area, the land reference value was 100 € per square meter (approximately $10 per square foot) three months ago. However, plots were actually sold for 400 € per square meter (approximately $37 per square foot). If the land was offered to all the townhouse owners, then the question is whether everyone agrees. If not, what happens then?
Stadtrand schrieb:
Adjacent to the five terraced houses (opposite the entrance) there is a plot of land that was offered to us (all the terraced house owners together) for purchase at the end of last week. The plot is about 700 square meters (7,535 square feet) in size. It contains five old garages / sheds (probably leaking and possibly insulated with asbestos). It is NOT designated as building land and, to our knowledge, cannot be converted into such. The plot can only be accessed by vehicles via our access road. There is no right of way. For us, however, it could be used as a garden area (playground, barbecue area, planting beds, etc.).I have to quote Kojak here: "I lllove it," how "economical" some questioners are when clarifying the background. From the sparse factual descriptions, you can only piece together a very vague picture: I assume "our access road" means a shared driveway (which probably should also serve as an emergency access right for the plot in question) to a block of five terraced houses; "opposite the entrance" probably means the plot is more or less a "front yard across the street," so it would not be compatible with the private back gardens of the houses. It would be interesting to know whether this would be possible with the other neighbors, i.e., potential co-bidders on the tight market for the plot in question. The descriptions of the buildings on the plot and the statement that it is not building land contradict each other. About the plot in question, I can only speculate very vaguely here that it might belong to a larger area where the seller developed, opposite the five terraced houses, two detached houses (and now can’t find buyers due to rocky or contaminated soil???). In any case: the original poster should realize that in this fog every crystal ball must remain dark :-( driver55 schrieb:
Show a picture from Google Maps so that the additional plot can somehow be classified...I can only agree with this request (and add from experience that the picture should also show something recognizable, so please avoid the usual tricks).https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
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