Hello everyone, we are Ina and Philipp. We both want to take the next step and build our own home.
We are intentionally moving away from the big city back to the countryside (Ina comes from a rural area). Perhaps some of you remember we have posted here before and shared some bad experiences with looking for land. Thanks to your advice, we quickly figured out what to watch out for. We want to actively share our journey toward homeownership here and are grateful for any tips and tricks.
What is the current status?
We are currently in contact with an owner (over 70 years old) of a plot of land who is willing to sell us 1,400 square meters (15,070 square feet) for 50,000 euros. All utility connections except for gas are already available at the site. The land is currently farmed as agricultural land. The plot is located next to a low-traffic federal road.
Yesterday, we spoke with potential neighbors. They also bought from this gentleman in 2011 and are still very satisfied with the quality of living and housing in the area. The neighbors were in the same situation back then—the land was also used as farmland.
Next Tuesday, we have an appointment with the bank. We will discuss whether to finance the land or possibly pay in cash. The advisor told us on the phone yesterday that we should generally consider paying for the land in cash rather than financing it.
If everything goes well, we will call the owner on Tuesday and hopefully tell him that we want to buy the land. He said yesterday he would then send us all the documents.
We have a specific idea we want to realize: a bungalow (the neighbor’s house is already a bungalow) modeled after a Swedish-style home.
Currently open questions:
Do you already have any advice on what we should pay attention to?
I (Philipp) have some doubts and would prefer to finance the land because the €50,000 should serve as equity/reserve for building the house.
There is a sewage access point right at the edge of the property. The owner said—if I understood correctly—that he would also talk to the water utility company to see if we would not have to buy that part of the land.
Thank you very much for reading this far. We wish you a nice weekend and will continue to report here openly and regularly. We appreciate any feedback or suggestions on things we can clarify early on.
We are intentionally moving away from the big city back to the countryside (Ina comes from a rural area). Perhaps some of you remember we have posted here before and shared some bad experiences with looking for land. Thanks to your advice, we quickly figured out what to watch out for. We want to actively share our journey toward homeownership here and are grateful for any tips and tricks.
What is the current status?
We are currently in contact with an owner (over 70 years old) of a plot of land who is willing to sell us 1,400 square meters (15,070 square feet) for 50,000 euros. All utility connections except for gas are already available at the site. The land is currently farmed as agricultural land. The plot is located next to a low-traffic federal road.
Yesterday, we spoke with potential neighbors. They also bought from this gentleman in 2011 and are still very satisfied with the quality of living and housing in the area. The neighbors were in the same situation back then—the land was also used as farmland.
Next Tuesday, we have an appointment with the bank. We will discuss whether to finance the land or possibly pay in cash. The advisor told us on the phone yesterday that we should generally consider paying for the land in cash rather than financing it.
If everything goes well, we will call the owner on Tuesday and hopefully tell him that we want to buy the land. He said yesterday he would then send us all the documents.
We have a specific idea we want to realize: a bungalow (the neighbor’s house is already a bungalow) modeled after a Swedish-style home.
Currently open questions:
Do you already have any advice on what we should pay attention to?
I (Philipp) have some doubts and would prefer to finance the land because the €50,000 should serve as equity/reserve for building the house.
There is a sewage access point right at the edge of the property. The owner said—if I understood correctly—that he would also talk to the water utility company to see if we would not have to buy that part of the land.
Thank you very much for reading this far. We wish you a nice weekend and will continue to report here openly and regularly. We appreciate any feedback or suggestions on things we can clarify early on.
hanse987 schrieb:
Beforehand, I would talk to the local municipality or building authority to find out about the plot's buildability and whether there might be any restrictions. philipp1990 schrieb:
Should I do that once I have the documents from that gentleman, or already before? Take care of everything beforehand.
The gentleman could be mistaken after all.
P
philipp199024 Aug 2019 15:43Domski schrieb:
Regarding the buildability, everything has essentially been covered.
For financing: The plot of land also counts as equity. However, if paying in cash leaves you without reserves, consider financing the land with a variable interest loan (repayable at any time). When you then secure the mortgage for the house, you increase the loan amount by the outstanding balance of the variable loan. That way, you can pay it off. This would allow the lending bank to hold first priority on the mortgage.With current interest rates, that doesn’t sound bad at all! We’ll take that into the discussion.
ypg schrieb:
Take care of everything beforehand.
Although the person could be wrong Yes, I’m available next week. The problem here is, I don’t yet have a cadastral number. Can I only get that from the gentleman? The plot hasn’t been surveyed yet. Should I visit the local authority in person then? They refused to provide information over the phone. An email has also gone unanswered so far.
philipp1990 schrieb:
Maybe someone remembers we wrote here before about our bad experience with searching for a plot, and thanks to you, we were quickly able to identify what we need to pay attention to. Yes, highly recommended reading: https://www.hausbau-forum.de/threads/Grundstückskauf-was-ist-dringend-zu-beachten-Tipps.31296/
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
P
philipp199024 Aug 2019 16:18Scout schrieb:
Do you know what the issue is? What is the postal code? In Bavaria, for example, you can check something like that online.The postal code is 04849
11ant schrieb:
Yes, very worth reading: https://www.hausbau-forum.de/threads/Grundstückskauf-was-ist-dringend-zu-beachten-Tipps.31296/Thanks, it was a great experience
S
Schlenk-Bär24 Aug 2019 16:5804849 is located in Saxony. Try entering "Geoportal Sachsen" into a search engine of your choice and have a look around. You will find a lot of useful information—especially whether the land is designated for building and if there is a development plan.