ᐅ Investment property in Northern Hesse with an 800 sqm plot – Which construction method?
Created on: 13 Aug 2018 16:48
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felixks
Hello everyone!
I have purchased an 800 m² (8,600 sq ft) plot of land in a new development area near North Hesse. Currently, there is no official zoning plan, but I know that building two full stories including the roof/attic level is permitted. Unfortunately, my research both in this forum and through search engines hasn’t been very successful.
Right now, I’m thinking about building a multi-family house with five residential units and selling all of the apartments except the one I would live in as quickly as possible, so I can live there mortgage-free. Is this even possible? Has anyone had experience with this or been in a similar situation? I would be very grateful for any advice!
Kind regards,
felixks
I have purchased an 800 m² (8,600 sq ft) plot of land in a new development area near North Hesse. Currently, there is no official zoning plan, but I know that building two full stories including the roof/attic level is permitted. Unfortunately, my research both in this forum and through search engines hasn’t been very successful.
Right now, I’m thinking about building a multi-family house with five residential units and selling all of the apartments except the one I would live in as quickly as possible, so I can live there mortgage-free. Is this even possible? Has anyone had experience with this or been in a similar situation? I would be very grateful for any advice!
Kind regards,
felixks
Where exactly is near North Hesse? Is it located along the A4 highway?
Generally speaking, 6 units on 800 m² (8600 sq ft) leaves almost no open space on the plot. Keep in mind 1.5 parking spaces per dwelling unit!
And whether such a density would be approved in a residential area mostly consisting of single-family or two-family houses...
Generally speaking, 6 units on 800 m² (8600 sq ft) leaves almost no open space on the plot. Keep in mind 1.5 parking spaces per dwelling unit!
And whether such a density would be approved in a residential area mostly consisting of single-family or two-family houses...
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HilfeHilfe13 Aug 2018 21:35felixks schrieb:
@Alex85 I don’t want to make this public yet since it’s still unofficial! But I have already been in talks with the local authority, and these things were decided in advance!
@HilfeHilfe What would be the disadvantages of starting a business? Sorry for the beginner questions! 🙂 You are basically my first point of contact!I am not your contact person. I am neither a tax advisor nor a business start-up coach.
Go into cryptocurrency; that’s where the potential is.
The new development area is divided into sections for single-family houses, row houses, and semi-detached houses, as well as multi-family residential buildings.
The first section is intended for private individuals, while the others are allocated to developers to create housing units. Each type of residential construction (including single-family houses) has a corresponding plot size. A plot size of 800 sqm (8,611 sq ft) is very likely intended for single-family or semi-detached housing.
The first section is intended for private individuals, while the others are allocated to developers to create housing units. Each type of residential construction (including single-family houses) has a corresponding plot size. A plot size of 800 sqm (8,611 sq ft) is very likely intended for single-family or semi-detached housing.
@ypg not necessarily. Here (tm) up to over 1000 sqm (over 10,760 sq ft), max 2 residential units, partly full two-story buildings.
The new development plan for the next 20 plots is not finished yet, but informal reservations are already being accepted. That's why I'm asking about the location of the original poster 🙂
The new development plan for the next 20 plots is not finished yet, but informal reservations are already being accepted. That's why I'm asking about the location of the original poster 🙂
Domski schrieb:
@ypg not necessarily. Here (tm) up to over 1000sqm (about 10,760 sq ft), maximum 2 residential units, sometimes full two-story buildings.
The new development plan for the next 20 plots is not finished yet, but informal reservations are already being accepted. That’s why I’m asking about the OP’s location 🙂Yes, that’s a very rough estimate from my side.
But roughly speaking, that’s how it works.
And the multi-family zones go to building companies, not individuals.
Registering a business doesn’t help either. Not just anyone can get in there 😉
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Caspar202014 Aug 2018 10:49felixks schrieb:
I have purchased an 800 m² (8600 sq ft) plot of land in a new development area near northern Hesse!Purchased means you have already been to the notary?
felixks schrieb:
Currently, there is no official zoning plan yet, but I know that two full stories including attic/roof and setback floors are allowed to be built there!Is it officially designated as building land already? Or is it still considered potential building land at this stage?
felixks schrieb:
@Alex85 I don’t want to make it public here yet because it’s still unofficial! But I have already talked to the municipality and these things have been decided in principle!In court and on the high seas...; as long as the zoning plan has not been approved by the local council... politics and other interests have often played their own games.
Domski schrieb:
Six units on 800 m² (8600 sq ft), there won’t be much land left. Remember 1.5 parking spaces per unit!By the way, he wants to build five units (one of which he will live in himself).
We have a multi-family house here with five units on 450 m² (4840 sq ft) including six parking spaces; but it has three full stories + attic + one basement apartment.
felixks schrieb:
My current idea is to build a multi-family house (5 units) and to sell the apartments as quickly as possible, except for the one I will live in, to be mortgage-free! Is something like that possible? Does anyone have experience with this or has been in a similar situation? I would be very grateful for any answers!..Have you already involved a tax advisor and financial partners?
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