General questions about purchasing real estate

Hello,

I am currently trying to figure out everything I need to consider (both logically and financially) when I want to purchase a plot of land for building. The goal is to roughly capture the tasks and costs up to the foundation slab (no basement). Maybe someone can tell me if I forgot something and if the costs are more or less okay:

1) Preliminary selection of a plot

- Choosing a suitable plot regarding costs, size (about 400 sqm), and location
- Checking the development plan for the plot (I think this is done through the [Liegenschaftsamt]?)
- Checking for developer/architect binding

2) Extended pre-sale tasks

- Having a soil survey done (how high are the costs approx?) I think this is mandatory before purchase, right? Otherwise, you might buy a burdened plot

3) Purchase

- Payment of the purchase price
- Payment of real estate transfer tax (5% of the purchase price), notary fees (2% – do these already include the land registry entries?)
- Possibly broker fees

4) After the purchase
- Surveying the plot (3000 euros)
- Development costs (not applicable if already fully developed) What do you usually estimate here?
The [Liegenschaftsamt] in the new development area says that one pays about 40-80 euros development costs per sqm. That would be between 1600 and 3200 euros for 400 sqm. Development costs include connection fees for electricity/gas/water/telecom, connection to the sewer system, right?

5) Preparing the plot for the house purchase

- Removal of soil (if necessary) 1,500 euros
- Possibly removal of waste???
- Internal development? What does that mean and is it always necessary? 2,500
- Inspection shafts? same question??
- Reserve for unplanned expenses (10% of the purchase price) – okay or too low?
- Creating the foundation slab (let’s say a 10x10 foundation slab) 10,000 euros

Hmm, did I forget something or have I estimated things too low (probably not too high)?

Thanks in advance for your help

Sorry, apparently I can no longer edit the post. Sorry for the duplicate words and spelling mistakes - I just quickly jotted down all my thoughts on my phone, so it wasn't stylistically quite correct :-( Oh, and of course it is 16,000 to 32,000 euros - no idea where the zeros went :eek:

1) Pre-selection of a plot

- Choose a suitable plot in terms of cost, size (approx. 400 sqm) and location
- Check the development plan for the plot (I think this is done through the land registry office?)
- Check for builder/architect ties

Yes

2) Extended pre-sale tasks

- Have a soil report prepared (roughly what are the costs?) I think this is mandatory before purchase, right? Otherwise, you might buy a contaminated plot

A soil report makes sense.

3) Purchase

- Payment of the purchase price
- Payment of property transfer tax (5% of the purchase price), notary fees (2% - do these already include the land registry entries?)
- possibly broker fees[QUOTE]

Property transfer tax depends on the federal state (I have not checked that yet).

For notary and land registry costs, I recommend using Google to find a calculator.

[QUOTE]4) After the purchase
- Surveying of the plot (3000 euros)
- Development costs (not applicable if already fully developed) What is usually calculated for this?
In a new development area, the land registry office says that one pays about 40-80 euros development costs per sqm. That would be between 1600 and 3200 euros for 400 sqm. Development costs include rents for electricity/gas/water/telecom, connection to the sewer system, right? [QUOTE]

Fully developed means the connections are available at the street. Sewer connection may already be a few centimeters on the plot.
Costs then arise for the house connection and supply line.
The costs depend on how far the respective connections are from the house. 4 meters is of course cheaper than 8 meters. (internal development)

Development costs (street, etc.) are usually already included in the purchase price of the plot. By the way, 40-80€ per sqm for 400 sqm land is 16,000€ to 32,000€ (a zero is missing here)

[QUOTE]5) Preparing the plot for the house purchase

- Removal of soil (if necessary) 1,500 euros
- possibly removal of waste???
- Internal development? What does that mean and is it always necessary? 2,500
- Inspection shafts? same??
- Reserve for unforeseen expenses (10% of the purchase price) - ok or too low?
- Creating the foundation slab (let’s say a 10x10 foundation slab) 10,000 euros[QUOTE]

Nothing can be said about the costs here either. It also depends on distance and quantity.
An inspection shaft is (simply put) the thing on the sewer where you can climb in to check things. You need that.

[QUOTE]Hmm, did I forget anything or set some things too low (probably not too high)?

Thanks a lot in advance for your help

Forgotten up to the completion of the "foundation slab":

1. If the plot/house is financed, there will be notary and land registry costs for the mortgage. These costs depend on the amount of the mortgage. Google helps with "mortgage calculator".

2. Insurances

3. Structural engineer

4. Pipes under the foundation slab

5. Construction site setup / security (e.g., construction fence, etc.)

6. Building permit / approval[/QUOTE][/QUOTE][/QUOTE]

Oops, a quote has landed in the wrong place.

In principle, there are 3 ways to buy a piece of land: 1. It is on the market 2. You find a free piece of land, determine the owner through tricks (= land register entry) 3. You inherit it / receive it as a gift If you have found a piece of land, you first have to check whether you can actually buy it – not everyone sells their land. This includes the development plan, if available, and/or the cadastral map or the neighborhood development – so you can see whether you can build anything at all. You get this information from the responsible building authority. If your intended development matches the land and you are lucky enough to be able to buy the land, it goes on. Whether there is an obligation to an architect / developer will be told to you by the seller. No matter how you get a piece of land, a soil report is always advisable – to be done before the purchase. That costs about €1,000. For the rest, it becomes difficult to establish generally valid formulas. Our development costs amount to about €100 per sqm. With that, you pay for "public" or in my wording "external" development. That means you pay so that the municipality installs a main sewer, water pipes, and an electricity grid, green areas, compensation areas, a road, streetlights, playgrounds, etc. But nothing has happened on your land yet. The internal development (gas, water, electricity, sewer) is still on top of that (anything from €5,000 to €20,000 is possible). Regarding surveying, it depends whether you buy an existing parcel that is already surveyed, or if it is, for example, a subdivision – then you pay significantly more. Preparation for construction can very quickly become massively more expensive (e.g., through the removal of contaminated soil = hazardous waste, purchase of gravel, etc.). To put it briefly: It is right to consider all items, BUT only per parcel. In general and without a specific piece of land, philosophizing doesn’t get you any further. Every piece of land must be considered and evaluated individually. It doesn’t help you if I pay €100 development per sqm and your land is only €10. For that, I might have been able to "sell" gravel from my land, but you have to buy gravel for €15,000,... Go searching for land – when you have a specific piece of land in sight – evaluate that exact land based on your points.

First of all, thank you very much for the information

Go house hunting – if you have a specific plot in sight – evaluate exactly this plot based on your points.

Exactly for that reason I try to think of all relevant points (in other words: to note them down beforehand), when the time eventually comes. I was already aware that not all points will apply or that additional points might come up (tree coverage, contaminated soil, etc.).