Costs for extension and partial modernization of existing property

2016-04-12 12:39:40

Harsh words... but Dirk is probably right.

You just "talked yourself into" it. That's okay and many people have this experience in the beginning. Open your eyes and approach the matter very objectively. 30 EUR per sqm is really far off. I know Brandenburg quite well and just in KW you are at 100 EUR per sqm. KW is already "the sticks" for me. Well, whatever... if you like the location.. why not. Just clarify the costs for renovation and then see what happens. Don’t count on value appreciation. Not even I do, and with us the sqm prices really rose from 150 to ~300. I am happy if it doesn't fall again.

Regards, Steffen

2016-04-12 12:39:50

Speckgürtel is a term that everyone can interpret differently, right? 20km to the Berlin city border is Speckgürtel for me - maybe not for you.

I have just looked again at the land reference values, which logically can only be based on sold plots / properties in the area, and in the corners of the small town, where quite a few sales have taken place in recent months, the price per m² is now 80€/m². In the area where the potential plot is located, the old town center where everything is built up and only sold in case of death or old age, the reference value is quite stable. Where the city is expanding, prices are exploding. How do you explain land reference values in a town of 17,000 inhabitants ranging from 20€/m² to 80€/m²?

The demand is high, the supply scarce. Thus, according to logic, existing properties are also traded at high prices. Current offer on a real estate portal: 60m² single-family house on 1,500m² land near a lake (just under a kilometer) for 160,000€ plus brokerage fee.

This region is surrounded by a total of 4 natural swimming lakes with several hectares of area.

If you want to criticize things, you are welcome to do so, but maybe please rely on facts, otherwise I ask you to stay on topic. I did not ask you to evaluate my region. I am smart enough myself to know that a house for 500,000€ in the desert is probably worth less than in Fort Lauderdale.

Best regards.

2016-04-12 12:41:45

For me, the appraisal also indicates ~ 5 EUR per sqm. Not 30. Or are the 5000 sqm unusable? I hardly believe that...

2016-04-12 12:44:22

Look again - 1,000m² at 30€ each and 5.xxxm² at 1,-€. Arable land, forest, hinterland pipapo.

2016-04-12 12:46:09

Speckgürtel is a term that everyone can interpret differently, right? 20km to the Berlin city limits is speckgürtel for me - but maybe not for you.

I just looked again at the standard land values, which logically can only be based on sold plots / real estate in the area, and in the corners of the small town, where quite a few sales have taken place in recent months, the price per m² is now 80€/m². In the area where the potential plot is located, the old town center where everything is built-up and only sold upon death or old age, the reference value is pretty stable. In the areas where the town is expanding, prices are exploding. How do you explain standard land values in a town with 17,000 inhabitants ranging from 20€/m² to 80€/m²?

Demand is high, supply is rare. Therefore, logically, existing properties are also traded at high prices. Current offer on a real estate portal: 60m² single-family house on 1,500m² land near a lake (just under a kilometer) for 160,000,-€ plus broker commission.

This region is surrounded by a total of 4 natural swimming lakes with several hectares of area.

If you want to badmouth things, you are welcome to do so, but please base it on facts; otherwise, I ask you to stay on topic. I did not ask you to evaluate my region. I’m smart enough myself to know that a house worth 500,000 EUR in the desert might be worth less than one in Fort Lauderdale.

Best regards.

Indeed, the standard land values always lag a few years behind. Around here, the standard land value is said to be 130 EUR per sqm (I think). However, plots are only traded starting at 300 EUR. Building gaps even go for 400-500 EUR per sqm.

It is your decision how much money you want to pay for the property. The value is always as high as someone is willing to pay for it. Maybe it’s a bargain..or extremely overpriced. You alone have to live with that.

Regards, Steffen

2016-04-12 12:52:56

Better think about whether you can/want to manage 6000sqm. Acquaintances (early 30s) have taken on 3400 "nailed to the leg" and I really don't want to trade. Not to mention the costs. If you want it to look nice... there should be an appropriate income. If there is little time, even more so (keyword gardener).

Costs for extension and partial modernization of existing property

Steffen80

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