ᐅ Location, location, location! Or is it not that important after all?
Created on: 24 Feb 2019 11:09
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Camille1984C
Camille198424 Feb 2019 11:09Hello,
Some time ago, I started a thread here asking whether it would be possible for a well-earning divorced woman with one child to realize the lifelong dream of owning a house. The responses were very kind, as long as I continued to approach this dream realistically.
Now the rather challenging search for land begins, and I quickly found myself facing the current reality again...
I currently live in a small town in the Eastern Alb district, about 65 km (40 miles) from Stuttgart. In this small town, the price per square meter for land in new development areas is around 250€ per sqm (about $270 per sq ft) and rising. I currently have a commute of about 15 km (9 miles) to my workplace. My workplace is in another nearby small town where land prices range from around 220€ per sqm (about $237 per sq ft) in the suburbs to much higher (city center), depending on the location. Unfortunately, I cannot afford these prices! No matter how much I calculate.
The more I look around, the more I realize that about every 20 to 30 km (12 to 19 miles) there are well-equipped small towns with good infrastructure and connections to Stuttgart or Ulm. Land prices in the villages beyond this are also extreme (usually from 200€ per sqm (about $215 per sq ft) upwards). In addition, there is the so-called “locals’ model” restricting purchases.
Now, a new development area is being designated in a nearby village with around 1200 inhabitants. I like the surroundings. Shopping options are accessible by car. There is a primary school and kindergarten on site (you should never say never) and there is good bus service to secondary schools for my son. For hobbies, driving is necessary, but I am used to this and willing to accept it. I myself come from a very rural area. The price is 150€ per sqm (about $161 per sq ft), also rising. For me, this is basically the upper limit...
I am considering applying for a building plot there. The downside is the significantly longer commute to my workplace of about 25 km (16 miles). Since I have civil servant status for life, I see little need to sell the house again, unless something happens to me and I have to sell. But then I would have other problems anyway. My son will probably not necessarily move into this house when he is an adult. If he inherits anything, great; if not, that’s just how it is.
How important would you rate the location of the land when financial resources are limited? My parents bought their house about 35 years ago by moving away from the metropolitan area into the countryside. Would you look for land further out to realize your dream? I am just uncertain...
Some time ago, I started a thread here asking whether it would be possible for a well-earning divorced woman with one child to realize the lifelong dream of owning a house. The responses were very kind, as long as I continued to approach this dream realistically.
Now the rather challenging search for land begins, and I quickly found myself facing the current reality again...
I currently live in a small town in the Eastern Alb district, about 65 km (40 miles) from Stuttgart. In this small town, the price per square meter for land in new development areas is around 250€ per sqm (about $270 per sq ft) and rising. I currently have a commute of about 15 km (9 miles) to my workplace. My workplace is in another nearby small town where land prices range from around 220€ per sqm (about $237 per sq ft) in the suburbs to much higher (city center), depending on the location. Unfortunately, I cannot afford these prices! No matter how much I calculate.
The more I look around, the more I realize that about every 20 to 30 km (12 to 19 miles) there are well-equipped small towns with good infrastructure and connections to Stuttgart or Ulm. Land prices in the villages beyond this are also extreme (usually from 200€ per sqm (about $215 per sq ft) upwards). In addition, there is the so-called “locals’ model” restricting purchases.
Now, a new development area is being designated in a nearby village with around 1200 inhabitants. I like the surroundings. Shopping options are accessible by car. There is a primary school and kindergarten on site (you should never say never) and there is good bus service to secondary schools for my son. For hobbies, driving is necessary, but I am used to this and willing to accept it. I myself come from a very rural area. The price is 150€ per sqm (about $161 per sq ft), also rising. For me, this is basically the upper limit...
I am considering applying for a building plot there. The downside is the significantly longer commute to my workplace of about 25 km (16 miles). Since I have civil servant status for life, I see little need to sell the house again, unless something happens to me and I have to sell. But then I would have other problems anyway. My son will probably not necessarily move into this house when he is an adult. If he inherits anything, great; if not, that’s just how it is.
How important would you rate the location of the land when financial resources are limited? My parents bought their house about 35 years ago by moving away from the metropolitan area into the countryside. Would you look for land further out to realize your dream? I am just uncertain...
If you can imagine the area and like it, that doesn’t sound bad at all! A 25km (15.5 miles) commute to work doesn’t seem long to me. Of course, it depends somewhat on the route (like having 100 red lights or something) and how traffic is during peak hours.
Is the area close to your parents? Or are they not around there anyway?
Is the area close to your parents? Or are they not around there anyway?
I think it's now 25km (15 miles) more! So instead of 15km (9 miles), it's 40km (25 miles)... I find that quite a lot, unless these are highway kilometers!
With the local model, we saved about 50%, so instead of €500 only €250 per square meter (per sq ft).
Of course, that's a lot of money, but it's only about a 30-minute drive on country roads to Nuremberg.
Location costs money and it has to be worth it to you!
With the local model, we saved about 50%, so instead of €500 only €250 per square meter (per sq ft).
Of course, that's a lot of money, but it's only about a 30-minute drive on country roads to Nuremberg.
Location costs money and it has to be worth it to you!
C
Camille198424 Feb 2019 12:17No, no. It’s currently 15 km (9 miles), and it would be 25 km (16 miles). But the route goes entirely through rural areas, including passing through the current small town. Google Maps estimates the travel time at just under 30 minutes. There is also a route via the main road, but in the morning it can easily take... an hour.
Yes, location comes at a cost and it has to be worth it for you. But you also have to be able to afford it! And this is exactly where I struggle! I have a limited budget and, like everyone else here, I want to get the best possible outcome for myself.
Yes, location comes at a cost and it has to be worth it for you. But you also have to be able to afford it! And this is exactly where I struggle! I have a limited budget and, like everyone else here, I want to get the best possible outcome for myself.
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Camille198424 Feb 2019 12:18Oh, in our case, a local resident model means that only locals are allowed to apply for a building plot. So, I would first need to live in this town for several years to even have a chance.
Yes, the same applies here. I lived in that town as a child (less than 10 years ago) and with my two children I was then in the Top 5!
But in the town where you have a 25km (15.5 miles) commute to work, you can get land for 150€ per square meter? And you could afford that? Then I would definitely take it. It probably won’t get any cheaper!
But in the town where you have a 25km (15.5 miles) commute to work, you can get land for 150€ per square meter? And you could afford that? Then I would definitely take it. It probably won’t get any cheaper!