ᐅ Development costs for economic feasibility analysis of building land

Hello dear forum,

I registered here because, after days of extensive online research, I was unable to find any clear information on this topic.

A good family friend, who is already retired, hinted after inquiry that he could imagine selling his building land exclusively to me and not to a developer or the municipality, but only as a whole plot of about 6000m2 (65000 sq ft).

I am only interested in a plot of land to build a single-family house with a size of about 700m2 (7500 sq ft).

For this, I have been looking for answers to the following questions:

• What costs can I expect for planning the utility connections?
• What costs can I expect for the utility connections themselves? (Road construction of about 100 meters (330 feet) length)
• What is the maximum price per m2 I can offer the owner?
• Is it possible to subdivide the plot individually?
• Is it feasible to manage this independently at all?

• The plot is located in Lower Saxony and borders a fully developed road. "Within the development plan"
• The standard land value is 120€/m2 (approximately 11 USD/sq ft).
• The selling price for developed building land per m2 is easily 160€ (approximately 15 USD/sq ft).
• The plot is located at the edge of a settlement.
• A drawing is attached. (20 years old, provided by the municipality)
• Equity is available to finance a large part of the estimated investment myself.
• Area for the road including a roundabout, diameter 16 meters (52 feet), about 1000m2 (10760 sq ft)

I kindly ask for understanding, as I am aware that, due to lack of experience, I might face major setbacks. However, the thought of acquiring a rare piece of land and finally fulfilling my dream of owning property motivates me.

Therefore, I would like to explore with the exceptionally experienced members of this forum whether I should proceed and possibly hire a professional or if I would be better off avoiding this altogether.

Thank you very much in advance!