ᐅ Is this a bait-and-switch offer with hidden costs?

Created on: 27 Aug 2010 06:59
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Family79
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Family79
27 Aug 2010 06:59
Hi, I searched for houses using a well-known house search engine and found something that left me really confused about the following listing. Is this really available for that price???????? Or is it expensive? It’s a shell house, I understand that, but otherwise? Apparently it’s from the company M..sa.

Brand low-cost house with affordable building land in the residential program 143,000 EURO
158 m² (1700 sq ft), with basement

Property Description

This attractive low-energy house meets all the requirements a family has for living space, features, and energy savings.
The construction complies with the latest thermal insulation standards.
The house also impresses with an excellent price-performance ratio.
- Sunny building plot with planned shell house including basement
Construction and completion by arrangement.
- Includes architectural services, surveying, and soil investigation.

Of course, construction of any of our other more than 40 house models sized
100 - 220 m² (1076 - 2368 sq ft) on this plot is also possible.

We would be pleased to welcome you for a free, no-obligation consultation
at our show house with state-of-the-art geothermal heating.

!!! Heating without gas or oil – save up to 75% on your heating costs !!!

!!! All our houses can be offered to you with the qualifying KfW Efficiency House 70 standard!!!

Features

Included in the purchase price:
the building plot within the municipal building land program (information on request), the full basement, and of course the fantastic shell house of top quality from the German market leader for shell houses.

We also naturally offer you a turnkey option — just ask us about it.
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Bauexperte
27 Aug 2010 10:27
Hello,
Family79 schrieb:
Hi, I searched for houses on a well-known house search engine and found something that really confused me because of the following listing. Is this really possible at that price???????? Or is it expensive? I understand it’s a shell house, but otherwise?

Those who can calculate are clearly at an advantage.

If you assume that the stated price applies exclusively to the shell house, you end up with €905.00/sqm (approximately $980/sq ft) _without_ a basement; this is reasonable if a shell house means a “finished shell” (shell construction, exterior plaster, windows, and roof). The listing becomes suspicious as it also includes a full basement in the specifications. Besides the fact that a full basement cannot be included at that price per sqm, I consider even a simple concrete basement (4 walls and done) very unlikely.

According to the property description, the land is also included in the offer price. Even if it were in a very cheap area, no plot of land can be that affordable for the advertised calculation to work. And by the way, if you go for a developer project, property transfer tax will be due on the house and the land; depending on the tax office, this amounts to between 3.5% and 4.5% of the total purchase price — additional construction-related costs.

I would rather suspect — since this incredible price also covers the soil survey and land surveying fees — that this offer is a clever advertisement targeting self-builders; this is also suggested by the frequent use of conditional language, and when you factor in quality, required time/experience, and add all expected costs up to completion, it is anything but inexpensive.

Anyway, I am always surprised by how naive prospective builders can be. Nobody is giving anything away, and a certain size of house always costs a certain amount. Anything that deviates significantly, especially downward, belongs to the realm of dreams — but should definitely be treated with the utmost caution.

Kind regards
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Family79
27 Aug 2010 15:09
Should you just stay away from it altogether or at least ask for more information?
Regarding the building land, I assume it’s a leasehold (this is possible in my city, but not everywhere). However, it’s not free of charge.
Personally, I find the listing a bit odd, or it sounds like a lot more might be coming our way.
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6Richtige
27 Aug 2010 18:25
Hello Family79,

expect the price to be about twice as much until the house is ready to move in. If it still seems affordable for you then, I would have a quote prepared.