Hello dear forum members,
I already posted a thread in 2017, and we are still deciding what to do.
Back then, we were considering building on my parents-in-law’s property. The existing barn would be demolished and replaced with a new building.
I have already checked with the local building authority, and both the demolition and the new construction would be approved with certain conditions (setbacks from the parents’ existing house and the neighboring building).
A plot subdivision (parcel division) would also need to be carried out.
My father-in-law would cover the demolition costs (I had a preliminary discussion with a prefabricated house company that dealt with a similar case, and the demolition there cost around 30,000 euros, including connections).
Currently, there are three other interesting plots available, each about 750 m² (8,070 ft²), which would have to be developed within three years. These plots are serviced and cost approximately 39,000 to 40,000 euros each.
I feel very conflicted because I think there would never be full privacy there.
Additionally, my parents are against us building there, as they say that in the event of a breakup (whether we marry beforehand or not), I would be left responsible. Then my partner would have to pay the mortgage alone and buy me out. There is not much equity from either side (about 25,000 to 30,000 euros each).
What would you advise me as a neutral party?
I already posted a thread in 2017, and we are still deciding what to do.
Back then, we were considering building on my parents-in-law’s property. The existing barn would be demolished and replaced with a new building.
I have already checked with the local building authority, and both the demolition and the new construction would be approved with certain conditions (setbacks from the parents’ existing house and the neighboring building).
A plot subdivision (parcel division) would also need to be carried out.
My father-in-law would cover the demolition costs (I had a preliminary discussion with a prefabricated house company that dealt with a similar case, and the demolition there cost around 30,000 euros, including connections).
Currently, there are three other interesting plots available, each about 750 m² (8,070 ft²), which would have to be developed within three years. These plots are serviced and cost approximately 39,000 to 40,000 euros each.
I feel very conflicted because I think there would never be full privacy there.
Additionally, my parents are against us building there, as they say that in the event of a breakup (whether we marry beforehand or not), I would be left responsible. Then my partner would have to pay the mortgage alone and buy me out. There is not much equity from either side (about 25,000 to 30,000 euros each).
What would you advise me as a neutral party?
L
lisa-kessler8 Jun 2020 08:41@K1300S: True... I have doubts, and I think that’s why I’m asking here again to double-check...
Sometimes I wonder if I’m being too strict about this.
My partner would really like to do it, but I’m now quite reluctant.
For us, buying a plot of land is still an option. The question is, if you’re not married, is it better for just one person to buy it?
You can return it to the municipality within three years.
Sometimes I wonder if I’m being too strict about this.
My partner would really like to do it, but I’m now quite reluctant.
For us, buying a plot of land is still an option. The question is, if you’re not married, is it better for just one person to buy it?
You can return it to the municipality within three years.
As someone who built next to their parents:
We were lucky to have the opportunity to get a plot of land from my parents. With land prices at 270€/m² (about $27 per sq ft), it was a clear decision for me, as long as some basic principles like privacy could be ensured. My wife was initially skeptical because of the proximity. However, financially it was so significant that we decided to go for it. My wife is also listed on the property deed and the financing. We worked with an architect throughout the process and so far have no negative feedback.
We are also fortunate that my parents are very restrained, as they had similar experiences with my grandmother and had rather bad experiences. They want to do things better this time.
After living in the house for 2.5 years, things have settled in a way that we are very satisfied.
However, I wouldn’t necessarily recommend this to you, as it depends on too many details—depending on the land and especially on your relationship with your parents or in-laws.
Given your local land prices, even for me as their son, the decision wouldn’t have been so clear-cut. Ultimately, you need to decide for yourselves, but I wouldn’t discourage you any more than I would recommend it.
We were lucky to have the opportunity to get a plot of land from my parents. With land prices at 270€/m² (about $27 per sq ft), it was a clear decision for me, as long as some basic principles like privacy could be ensured. My wife was initially skeptical because of the proximity. However, financially it was so significant that we decided to go for it. My wife is also listed on the property deed and the financing. We worked with an architect throughout the process and so far have no negative feedback.
We are also fortunate that my parents are very restrained, as they had similar experiences with my grandmother and had rather bad experiences. They want to do things better this time.
After living in the house for 2.5 years, things have settled in a way that we are very satisfied.
However, I wouldn’t necessarily recommend this to you, as it depends on too many details—depending on the land and especially on your relationship with your parents or in-laws.
Given your local land prices, even for me as their son, the decision wouldn’t have been so clear-cut. Ultimately, you need to decide for yourselves, but I wouldn’t discourage you any more than I would recommend it.
The fact is: Legally, it can be arranged either with or without a marriage certificate so that no one has to take a risk—it may just cost a bit more without one. Whether you then want to end up (worst case) living next to your former in-laws in your half of the house is, of course, another matter.
T
T_im_Norden8 Jun 2020 08:48The person listed in the land register also owns the house.
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nordanney8 Jun 2020 08:49lisa-kessler schrieb:
The question is, if you are not married, is it better if one person buys the property?It's a great option. The partner buys the property, and you are listed on the financing. So, they have the ownership, and you have the debt.This only makes sense if the person buying also handles the financing alone.