I live in a booming area and had been searching for a plot or a house for a long time. When I see the prices on real estate platforms like Immoscout, I often get really frustrated. Especially the following things bother me:
- A developer offers a very expensive, ugly plot at an inflated price, but that’s not all: you also have to build an outrageously expensive house with them, so that a single-family home in a small town ends up costing almost 600,000 euros. "Living close to nature"
- Nearly dilapidated single-family houses from the 1960s with 90 square meters (970 square feet) of living space are offered at prices for which you could buy a new single-family home of 120 square meters (1,290 square feet) with 100,000 euros more. "A fixer-upper for the handy family"
- "Land with development potential" is sold at prices between 40 to 50% of regular plot prices, but a call to the local authority reveals notes such as "nature reserve," "archaeological sites," "water protection area," or that the land is planned to remain agricultural for an even longer period.
- Naive private sellers demand sky-high prices: renovated houses from the 1970s costing more than a new build plus land. "Absolutely like-new gem" (despite being almost 50 years old)
- Small villages with around 1,000 residents, located 100 kilometers (62 miles) away, are described as being within the "Munich catchment area" just because you can reach a train station in 30 minutes, with trains that take 50 more minutes to get to Munich.
Sometimes I really feel like telling people that what they’re doing is almost misleading and exploitative. It seems like many are just waiting for the one "fool" who’s willing to pay one and a half to twice the market value.
Just wanted to share this... I’m sure the insights from this thread aren’t all that profound.
- A developer offers a very expensive, ugly plot at an inflated price, but that’s not all: you also have to build an outrageously expensive house with them, so that a single-family home in a small town ends up costing almost 600,000 euros. "Living close to nature"
- Nearly dilapidated single-family houses from the 1960s with 90 square meters (970 square feet) of living space are offered at prices for which you could buy a new single-family home of 120 square meters (1,290 square feet) with 100,000 euros more. "A fixer-upper for the handy family"
- "Land with development potential" is sold at prices between 40 to 50% of regular plot prices, but a call to the local authority reveals notes such as "nature reserve," "archaeological sites," "water protection area," or that the land is planned to remain agricultural for an even longer period.
- Naive private sellers demand sky-high prices: renovated houses from the 1970s costing more than a new build plus land. "Absolutely like-new gem" (despite being almost 50 years old)
- Small villages with around 1,000 residents, located 100 kilometers (62 miles) away, are described as being within the "Munich catchment area" just because you can reach a train station in 30 minutes, with trains that take 50 more minutes to get to Munich.
Sometimes I really feel like telling people that what they’re doing is almost misleading and exploitative. It seems like many are just waiting for the one "fool" who’s willing to pay one and a half to twice the market value.
Just wanted to share this... I’m sure the insights from this thread aren’t all that profound.
Back in 2014, my colleagues thought I was crazy to build a house with a basement and land for 450,000 including additional construction costs.
Today, they would be happy to get a house with a basement and over 200 m² (2,150 sq ft) of living space for that price.
At that time, the price per square meter for land was 200 euros; today, you won’t find anything under 300 euros.
Today, they would be happy to get a house with a basement and over 200 m² (2,150 sq ft) of living space for that price.
At that time, the price per square meter for land was 200 euros; today, you won’t find anything under 300 euros.
H
HilfeHilfe3 Jul 2017 08:33I’m also glad to have bought in 2013 (the new construction had just started), now we would face a significantly higher cost for the same property despite low interest rates. As long as the economy remains strong, prices won’t go down.
My parents built their house 11 years ago for 120,000. It is a solid single-family house with 120 m² (1,292 sq ft). They were almost shocked when we came around the corner with our 260,000 (168 m² (1,810 sq ft)). By now, they have come to terms with it because they see what other houses cost today (1 1/2 years since we signed).
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