ᐅ Plot of land including a turnkey house – experiences?

Created on: 13 Feb 2019 08:03
M
musswah
Hello everyone,

We are considering purchasing a plot of land through a real estate agent. The purchase of the land is linked to the construction of a turnkey house. So, we have an overall offer (land + house without additional construction-related costs).

Does anyone have experience with this? What else should we be aware of? We are uncertain about additional costs that may arise, which the agent did not mention during the construction discussion. I would appreciate any tips.
11ant13 Feb 2019 19:27
musswah schrieb:
He estimated additional construction costs at €28,200, other work at €22,000

And the entrepreneurial risk that he might be underestimating these costs (which is hardly avoidable due to the inherent unpredictability of surprises) is being passed on to the client here :-(

I dare to say: a developer disguised as a broker is hardly likely to be reliable (or even want to be).
musswah schrieb:
This is exactly what I was looking for. I will take a closer look at it.

But what use is that to you?
A table that makes the calculation of your risk more understandable unfortunately cannot eliminate the unknowns involved.

Only if you are explicitly looking for this kind of thrill, is this a win-win situation — otherwise, the con artist has simply found a fool.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
bon198013 Feb 2019 20:14
I also think this is the worst of both worlds (a genuine general contractor and "independent" building on your own land): You have the general contractor tied to the property and the risk of underestimated or unmentioned costs that you end up having to cover. Additionally, in this model, you are the client and also bear related expenses like insurance. In a true general contractor model, you wouldn’t have all of this...
M
musswah
26 Feb 2019 07:53
I hope someone is still following this thread and can share their opinion.

Overview of total costs attached.

The construction service contract roughly includes:
  • Single-family detached house, 1.5 stories, Energy Efficiency House 70, heat pump, underfloor heating: €172,000
  • Staircase to attic: €3,400
  • Attic conversion: €13,500
  • Two flat roof gables: €13,000
  • Detached garage 6m x 3m (20ft x 10ft): €8,300

Kostenaufstellung eines Bauvorhabens mit Gesamtkosten und Baufinanzierung
montessalet26 Feb 2019 07:57
My humble opinion:
Additional building-related costs are estimated too low (have connection fees been clarified?); other costs are extremely tight.....
Z
Zaba12
26 Feb 2019 08:38
Additional construction-related costs are too tight. Civil engineering costs as well. Not to mention the additional purchase costs.

How subtly a tied sale is pointed out with 3 “exclamation marks.” Change possible!!! Cute 🙂

Was your location NRW Krefeld, right? What is the real estate transfer tax on €260,000 + €172,000? In NRW, including taxes, notary, and land registry fees, it's about 9% plus realtor fees. That’s roughly €47,000, which is quite significant. Those costs aren’t included in your calculation. The tax office will be happy about that.
M
musswah
26 Feb 2019 08:53
Exactly, Krefeld.
I would only pay the real estate transfer tax on the land, since the purchase is conducted through the owner.