ᐅ Buy a plot of land – demolish an existing building – build new?!
Created on: 7 Mar 2014 10:02
S
Schnapsidee
Hello dear forum members,
I hope my question (or rather, following my username: my crazy idea) fits here.
I have the chance to buy a plot of land – currently consisting of 2 parcels (one about 400m² (4300 sq ft), the other about 1100m² (12,000 sq ft)). The smaller parcel isn’t really usable, but it’s included… so why not?!
On the larger parcel stands an old farmhouse (footprint about 250m² (2700 sq ft)). Unfortunately, the building’s footprint and the parcel boundaries don’t match – as mentioned, the parcel is about 1100m² (12,000 sq ft), but the plot is roughly twice that size (this has been the case for decades and used accordingly, with no one apparently concerned about the exact property lines). Altogether, I would end up with over 2500m² (27,000 sq ft).
I would need to acquire a piece from the neighboring plot (same owner) – that would not be a problem (it’s included in the purchase price). It would just need to be surveyed.
The owner started with a selling price of €10,000 (no, I didn’t forget a zero). Land and property are quite cheap here. (The standard land value in the area is about €15/m² (1.40 USD/sq ft)). Most people will probably say, “Dude, buy it!”
But I have a few questions and hope for your suggestions and ideas:
Is it worth buying the land? After all, it still needs to be resurveyed and everything registered.
Originally, I thought about demolishing the farmhouse (the condition is unfortunately not worth renovating – at least not economically viable or feasible for me). As mentioned, about 250m² (2700 sq ft) ground area, 2 floors plus a huge attic (which could be converted into two floors if I won the lottery – but I don’t want that!). So, on top of the purchase price, there would be demolition costs, which I cannot estimate.
The next idea was to build a new single-family house on the existing foundations, preferably a single-story (even at 30 years old, you start thinking about the future). There is plenty of space. I think (hope, believe… but have no clue) this might save costs.
What do you think? Is it feasible or unrealistic? What conditions should be met?
PS: On the property there is also a row of garages (7 garages – users pay a small annual rent), plus one large garage and a big shed behind the house, both of which are usable.
Many thanks for your replies!
I hope my question (or rather, following my username: my crazy idea) fits here.
I have the chance to buy a plot of land – currently consisting of 2 parcels (one about 400m² (4300 sq ft), the other about 1100m² (12,000 sq ft)). The smaller parcel isn’t really usable, but it’s included… so why not?!
On the larger parcel stands an old farmhouse (footprint about 250m² (2700 sq ft)). Unfortunately, the building’s footprint and the parcel boundaries don’t match – as mentioned, the parcel is about 1100m² (12,000 sq ft), but the plot is roughly twice that size (this has been the case for decades and used accordingly, with no one apparently concerned about the exact property lines). Altogether, I would end up with over 2500m² (27,000 sq ft).
I would need to acquire a piece from the neighboring plot (same owner) – that would not be a problem (it’s included in the purchase price). It would just need to be surveyed.
The owner started with a selling price of €10,000 (no, I didn’t forget a zero). Land and property are quite cheap here. (The standard land value in the area is about €15/m² (1.40 USD/sq ft)). Most people will probably say, “Dude, buy it!”
But I have a few questions and hope for your suggestions and ideas:
Is it worth buying the land? After all, it still needs to be resurveyed and everything registered.
Originally, I thought about demolishing the farmhouse (the condition is unfortunately not worth renovating – at least not economically viable or feasible for me). As mentioned, about 250m² (2700 sq ft) ground area, 2 floors plus a huge attic (which could be converted into two floors if I won the lottery – but I don’t want that!). So, on top of the purchase price, there would be demolition costs, which I cannot estimate.
The next idea was to build a new single-family house on the existing foundations, preferably a single-story (even at 30 years old, you start thinking about the future). There is plenty of space. I think (hope, believe… but have no clue) this might save costs.
What do you think? Is it feasible or unrealistic? What conditions should be met?
PS: On the property there is also a row of garages (7 garages – users pay a small annual rent), plus one large garage and a big shed behind the house, both of which are usable.
Many thanks for your replies!
Hello,
I would suggest getting quotes from demolition contractors first... That way, you’ll have a rough idea of the costs.
We are also planning to demolish a duplex and then build something new.
Our house is from the 1960s with 170 sqm (1,828 sq ft) of living space, plus a basement and solid concrete ceilings. When we quoted for removing the floors, windows, doors, and the roof including the roof structure ourselves, the demolition and disposal costs were between 10,000 and 18,000 euros net.
Maybe this helps you a bit.
Good luck
I would suggest getting quotes from demolition contractors first... That way, you’ll have a rough idea of the costs.
We are also planning to demolish a duplex and then build something new.
Our house is from the 1960s with 170 sqm (1,828 sq ft) of living space, plus a basement and solid concrete ceilings. When we quoted for removing the floors, windows, doors, and the roof including the roof structure ourselves, the demolition and disposal costs were between 10,000 and 18,000 euros net.
Maybe this helps you a bit.
Good luck
S
Schnapsidee10 Mar 2014 09:43WildThing schrieb:
Hello,
We have a house from the 1960s with 170 sqm (1830 sq ft) of living space plus a basement and solid concrete ceilings. When we considered removing the floors, windows, doors, and the roof structure ourselves, we received quotes ranging from 10,000 to 18,000 euros net for demolition and disposal.
Maybe this helps you a little.
Good luckEvery response helps, so thank you very much for that!
May I ask which region you live in? More rural or central?
What exactly do you mean by “removing the roof” – obviously the tiles also need to be disposed of (I have quite a lot of them!)?
Anyone paying attention will have noticed: in our area, not only are land and property prices lower than elsewhere, but construction services and related costs are cheaper too – balanced by generally lower wages, so it evens out.
I have already thought about doing part of the demolition myself. The roof frame is definitely too valuable to just give away. The amount of dry wood can still be used meaningfully elsewhere. A roofer friend, after hearing about the idea, said: “Dismantling the roof is really the easiest part!”
Windows, doors, etc., of course, also require work, but maybe the saying “many hands make light work” applies here.
The figures you mentioned for your demolition don’t completely blow me away. If I manage to, I’ll try to talk to a nearby construction company today that also offers demolition services.
I’ve also considered simply leaving the house standing and building a completely new one – but unfortunately, it is located on the south side of the lot. There is space to build behind it, but who wants to build right next to such a large ruin? It’s also a question of daylight. So basically, that’s not really an option.
S
Schnapsidee10 Mar 2014 09:45WildThing schrieb:
Addendum: However, the disposal costs are not included in the price, which we incur for the waste generated from our own work. We have to pay for those container(s) ourselves on top of that.That answers my question about the disposal of the roof tiles. As I said, the roof is – like everything else on the house – just BIG.
B
Bauexperte10 Mar 2014 10:56Schnapsidee schrieb:
There is an old farmhouse on the larger plot (footprint about 250m² (2700 sq ft)). Unfortunately, the land parcel and the plot boundaries do not match—the parcel is, as mentioned, 1100m² (12,000 sq ft), but the plot is roughly twice as large (it has been established and used like this for decades, and apparently no one has cared about the borders so far). Overall, I would end up with more than 2500m² (27,000 sq ft).
I would need to add a piece from the neighboring property (same owner)—that wouldn’t be a problem (it’s included in the purchase price). It just needs to be surveyed. After the survey, the figures and ownership will be accurate.
Schnapsidee schrieb:
Is it worth buying the property? After all, it still needs to be surveyed and everything registered anew.
Originally, I considered demolishing the farmhouse (unfortunately, the condition does not justify renovation—for me it’s not economically viable or feasible). As mentioned, about 250m² (2700 sq ft) footprint, two floors plus a huge attic (if you won the lottery, it could probably be built out into two floors as well—but I don’t want that!). In addition to the purchase price, demolition costs would come on top, which I cannot estimate.
What do you think? Feasible or unrealistic? What conditions should be met? Why wouldn’t it be worth it? Land does not increase in quantity, and the asking price is almost a bargain. Unless you “dream” of building for a similar price to the land cost—that won’t happen. Find a demolition contractor and get a quote for the demolition; I don’t trust cost estimates from architects.
Schnapsidee schrieb:
The idea continued with building anew on the foundations (single-family house), preferably all on one level (you still think about aging at 30). There would be enough space. I think (hope, believe... but I have no idea) this might save costs. To possibly realize this, a structural survey must be carried out; no professional builder would construct on unknown soil conditions, especially not on existing masonry, without one.
In my opinion, you will not save costs this way, based on experience, because the building materials in older structures were constructed without any modern insulation or waterproofing against groundwater or other moisture problems—except if the building is already in very poor condition, in which case demolition is the better choice.
Best regards, Bauexperte
S
Schnapsidee24 Mar 2014 16:55For those still interested: the demolition quote is approximately €20,000 gross (around $22,000). Considering additional costs and fees, the overall expense won’t be particularly low. That is why I decided not to proceed with the purchase.
Thank you again to everyone for your response(s)!
Thank you again to everyone for your response(s)!
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