Construction in the Munich district, realistic?

Hello everyone,

I've been reading here for a while and today I have my first question for you. No idea if I'm in the right subforum, but I'll just give it a try.

A little bit about us, we are two families (sisters) and would like to build a duplex together.

Today we looked at a plot of land that we are all absolutely convinced about. So far so good, but suddenly the idea of building a house becomes so concrete and we talk about sums that I have tremendous respect for. Therefore, I would like to ask you for a first assessment, initially without many details.

The plot has 763m² and costs 1,220,000€. So we are talking about a price per sqm of almost 1600€. For the location/area in [LK München], the price is OK. I would say pretty average. Then all additional purchase costs come on top, the duplex and of course the ancillary construction costs.

Our equity is about 900,000€ in the form of a property which we still currently live in ourselves and would therefore have to finance in between.

We would like to take out a maximum loan of 650,000€ per party. If I calculate now: Plot + incidental costs 1,320,000€ - equity 900,000€ = 420,000€ debt

Loan amount 1,300,000€ - plot debt 420,000€ = 880,000€ for a duplex (KG+E+1+DG), two garages and the ancillary construction costs.

Do you think that would be feasible? I am always quite impressed when I read about some paying 30€ per sqm. That's really unrealistic here.

Thanks in advance for your opinions and maybe we'll read each other more often soon.

Sounds absolutely doable. There is a lot of information missing to be able to evaluate this.

Hi,

oh man, you can almost only express your condolences.

So 440k per unit.
- 50k ancillary construction costs (in M maybe even more)
- 100k for the basement
- 30k garage

260k per unit remained for the house.

With presumably 3000/sqm upwards in M depending on the standard, you would get around 85sqm, which of course is nothing.

Without a basement, it might perhaps be more feasible.

I have to admit that I don't know if you can get a cheaper deal with a semi-detached house.

No idea about the construction costs. What do you earn?

The plot has 763m² and costs €1,220,000

The plot alone costs that much???

I have to admit that I have no idea whether you get it cheaper with the semi-detached house there

A little, but we are certainly not talking about six-figure amounts. In this respect, I would claim that the project is doable for a very small semi-detached house, but no one knows what is desired/needed here. Based on the enumeration (basement + ground floor + 1st floor + attic and two garages), that's rather unlikely. If one knew again that the 900,000-euro property had already been bought by the OP and fully paid off, it would look different (cash flow), but something tells me that is not the case.

So the land alone costs that much???

You did read that this is about the most expensive city in Germany, right?