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Bauanfänger3631 Jan 2017 16:29I am single and have been considering ending my rental contract for some time now to buy my own place. I can afford to spend 800 to 900 euros per month. My current rent excluding utilities is 600 euros. I have 30,000 euros in equity. I am not very skilled in DIY or handywork, and I don’t have any friends who are craftsmen.
I live in the Augsburg suburbs.
Here are my thoughts:
1. A new condominium with 3 rooms, a garage, 80 sqm (860 sq ft), and a balcony in a village costs between 250,000 and 280,000 euros. The building has 6 units, and the monthly service charge is 250 euros. I could afford that well, and I would probably be finished just after reaching retirement age.
2. But then I think: If a new condo costs that much, then maybe I could buy a small plot of land with 300 sqm (3,230 sq ft) at 250 euros per sqm, which would be 75,000 euros. Then a turnkey prefab house without a basement but with a garage, size 100 sqm (1,076 sq ft), for 180,000 euros plus 30,000 euros in additional building costs? Similar price, but my own house.
3. Or don’t buy anything new: Older condominiums for 180,000 euros and that’s that. Problem: In this price range, there have been no nice 3-room apartments online for months at least.
What would you recommend?
Oh, and I also keep finding prefab houses with land from a well-known provider with 5 letters, advertised as turnkey for under 200,000 euros. But after the consultant didn’t follow up after a visit (I was probably not very decisive), that’s not really an option.
I live in the Augsburg suburbs.
Here are my thoughts:
1. A new condominium with 3 rooms, a garage, 80 sqm (860 sq ft), and a balcony in a village costs between 250,000 and 280,000 euros. The building has 6 units, and the monthly service charge is 250 euros. I could afford that well, and I would probably be finished just after reaching retirement age.
2. But then I think: If a new condo costs that much, then maybe I could buy a small plot of land with 300 sqm (3,230 sq ft) at 250 euros per sqm, which would be 75,000 euros. Then a turnkey prefab house without a basement but with a garage, size 100 sqm (1,076 sq ft), for 180,000 euros plus 30,000 euros in additional building costs? Similar price, but my own house.
3. Or don’t buy anything new: Older condominiums for 180,000 euros and that’s that. Problem: In this price range, there have been no nice 3-room apartments online for months at least.
What would you recommend?
Oh, and I also keep finding prefab houses with land from a well-known provider with 5 letters, advertised as turnkey for under 200,000 euros. But after the consultant didn’t follow up after a visit (I was probably not very decisive), that’s not really an option.
Building. Condominiums are a pain. Maintenance fees are $250, and you always have to agree on everything together. There’s a property manager, picky retirees who complain if the stairwell isn’t clean enough, and if a cat shows up, someone raises an alarm—no pets allowed here! No, better to avoid that. At best, look for a townhouse at the end of a row, around 100m² (1,076 sq ft). You can still save some money that way.
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Caspar202031 Jan 2017 17:19Bauanfänger36 schrieb:
1. A new condominium with 3 rooms, garage, 80 sqm (860 sq ft) and balcony in a village costs between 250,000 and 280,000 euros, 6 units in the entire building, monthly maintenance fee 250 eurosA note on the monthly maintenance fee: especially with new construction projects, this can change very quickly after moving in. Property investors tend to be overly optimistic in their marketing.
As a single person, you might still face an intimate challenge who lives a bit far away... and then you wouldn’t be flexible anymore with a house or apartment. Have you already thought about this issue? Sorry, it’s not exactly the topic, but before I say: none of it, I’d rather ask.
For a detached house, 300m² (3600 sq ft) of land will likely not be enough.
Also, generally, the smaller the house, the higher the price per square meter.
Additionally, considering the location in Bavaria, the minimum cost for the house alone will likely be around €180,000. On top of that, you still need to factor in the price for landscaping and the garage.
Therefore, I would argue that your budget is probably not sufficient for a detached house.
In terms of price, a terraced house (townhouse) could be an option. However, these are usually offered by developers, who probably do not provide houses around 100m² (1,076 sq ft) in size.
Also, generally, the smaller the house, the higher the price per square meter.
Additionally, considering the location in Bavaria, the minimum cost for the house alone will likely be around €180,000. On top of that, you still need to factor in the price for landscaping and the garage.
Therefore, I would argue that your budget is probably not sufficient for a detached house.
In terms of price, a terraced house (townhouse) could be an option. However, these are usually offered by developers, who probably do not provide houses around 100m² (1,076 sq ft) in size.
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