Heritable building right experiences - cost trap or no problem?

  • Erstellt am 2018-01-24 19:43:55

stoecklj

2019-10-23 13:13:53
  • #1
I also have a question about the economic viability of leasehold.... We have been offered a plot of land by the church for 3600€ per month for 1200 sqm; the current standard land value in the area is 250€/sqm for developed plots. Unfortunately, I am still missing information about the other conditions (leasehold interest -> fixed or linked to CPI, development costs, etc.) Purely from the land costs, you would save at least 300,000€ or could live for about 80 years without surpassing the current value of the land assuming no adjustment to the leasehold interest, right? Would building a house be financially feasible with a monthly net income of 4500€ (man full-time / woman part-time & 1 child (no more planned))? Equity of about 150,000€ is available. (more details then gladly in the financing thread, should it become concrete) Since plots and houses are scarce around here... we would seriously consider the offer... Thanks for your opinion.
 

Altai

2019-10-23 13:58:01
  • #2
I hope the 3600€ are per year?
 

stoecklj

2019-10-23 13:58:37
  • #3
yes, sorry That would then also be usury...
 

apokolok

2019-10-23 14:50:43
  • #4
Economically, it can be the case insofar as it makes house construction possible in the first place. This may be because no plots of land for purchase are available, or because the total volume for the project would otherwise be too high. If neither applies, [Erbbau] is uneconomical under the current interest rate situation. The interest rate is always linked to an index, so the 80-year calculation does not work.
 

OWLer

2019-10-24 09:16:14
  • #5
I also once considered a similar project. Plots of land are available here from time to time – after all, we eventually bought one. However, it sounded so positive from the realtor that I did the math.

I believe with the 2% inflation target set by the ECB, I would have paid off the plot after 36 years. Ground lease vs. financing – total amount. From then on, the ground lease was more expensive, as it kept rising in addition to the ancillary costs. It can get tight if you want to continue living in the house as a retiree.

Moreover, what was decisive for me is that usually the plot gains value and the house, like all consumer goods, loses value.

I would only do it if at all, if there really are no plots available in the desired location or if they have a price level above that of overpriced German major cities (Frankfurt, Munich, Stuttgart, etc.).
 

Fleckenzwerg

2019-10-24 10:07:00
  • #6
For us, it is such that for years there have been almost exclusively leasehold plots. We now have the opportunity to get a purchase plot with 300sqm, but it is tied to a developer. There, a semi-detached house with 120sqm living space will be built on the outskirts of town (<50,000 inhabitants) with a partial basement and carport for 400k€, plus kitchen, floors on the 1st floor, paving work for driveway and terrace, and additional construction costs, in total about 500k€. Alternative, leasehold plot from the church, 500sqm, with a single-family house of 130-140 sqm, no basement, but double garage and expandable attic (FH 10m above street level) with everything, should be feasible for 400k€. Sure, then there is the rent, but the 100k€ we save should last for a long time.
 

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