ᐅ Is the house price reasonable?

Created on: 1 Sep 2015 11:19
S
schuckie
Hello everyone,

We are currently considering a prefabricated house from Bien-Zenker. It was built at the end of 2013, so it’s almost new. A family with five children lived in it for one year. The marriage broke up and the house is now being sold. Some interior work was done by the owners themselves, which is visible in places (bathroom grout is poorly done).

The details are as follows:

  • Living area 180 m² (1,938 sq ft) over two floors
  • Ground floor includes a utility room, open kitchen/living/dining area, bathroom, guest room
  • Upstairs there are 4 bedrooms and a bathroom
  • KfW 70 energy standard with district heating, controlled ventilation system Lunos with heat recovery
  • Plot size 475 m² (5,110 sq ft), price was 250 € per m²
  • No basement
  • The house is very simple, gable roof, no balcony, knee wall 1.60 m (5.25 ft)
  • Detached garage 7.50 m (24.6 ft) long
  • Driveway and parking spaces paved
  • Terrace slabs are laid
  • The garden is undeveloped, no fence, lawn, plants, etc.
  • 2 bathrooms: downstairs with shower, upstairs with shower and bathtub, standard quality
  • Large kitchen with Bosch appliances
  • Flooring is laminate
  • 3 solar panels on the roof

The purchase price is €390,000 plus realtor fees. The walls all need repainting as they’re quite marked by the children. Some baseboards need repair. The garden still needs to be landscaped.

What do you think? Is the price reasonable?

Thank you very much.

Best regards,
Timo
M
miho
3 Sep 2015 09:29
So you have some solid reference points regarding prices and can make an informed decision. I also prepared a rough cost estimate for each house we viewed, including land value, new construction costs for a house of the same size, potential renovation expenses, and I was able to quickly see which prices were reasonable and which were not.

In the end, we purchased an older, well-renovated house. Some tasks were done by ourselves and aren’t perfect. But as you say, location and size easily outweigh all that, and I will correct the rest over time. At first viewing, the house fit our needs about 95%. You can’t expect more with a used property. Even with a new build, compromises are necessary.

Wishing you a good decision,
Michael.
D
DG
3 Sep 2015 10:21
Honestly, based on the exterior appearance of the house, I can’t imagine that the interior is of medium to high standard. It seems rather (extremely) simple, because:

A house with four corners, few windows, limited roof windows, hardly any roof overhangs, the cheapest paving, a standard entry door, the most basic exterior staircase, no porch/terrace, no balcony – there is really nothing. The house is simply large, and it’s clear that extensive cost-cutting was done wherever possible. If this continues inside, in my opinion, the price is set somewhat high.

I’m curious to hear what the architect has to say about this.

Best regards,
Dirk Grafe
S
Skaddler
3 Sep 2015 10:36
I thought so too, and besides, I really don’t like this irregular arrangement of the windows at all. I prefer symmetry.
B
Bauexperte
3 Sep 2015 10:41
@Skaddler

Could you please check your message inbox?

Thanks and regards, Bauexperte
M
Müllerin
3 Sep 2015 10:46
A small roof overhang is not necessarily about saving money; there are also people who simply like this design.
Apart from that, I also think that there are too few and too small windows – but since I haven't been inside, I don't want to judge.

Good luck with your decision…

Moppetüte *12.12.12
S
schuckie
3 Sep 2015 10:50
It is clear that savings were made here. The owners have five children, and the house was built at the financial limit. For me, the question is what the house could be worth. We already know the price of the land...