bentek
2016-07-01 13:12:58
- #1
I am pragmatically minded:
1. If the rental property is considered for personal use: terminate rental contracts, remodel the property, use it yourself. This can take a few years, but is still cheaper than new construction including land acquisition.
2. If that is not possible or not desired and the property is debt-free or lightly encumbered: mortgage the property or use it as additional capital in the financing of an external property.
You can casually inquire at the building authority for fun to see how they view a change/extension of the zoning plan. If you’re lucky, the city planners already have the idea themselves – if you’re unlucky, they will immediately block you. But then you know where you stand or how high the hurdle for backland development is.
If I estimate it correctly from here and the building authority has not already earmarked the area for densification, then you are up against the building authority and all the neighbors, to at best realize a 5-meter wide house.
Then the question arises how persistent you are. I would say it will take you at least 5 years until the building permit. If you get one at all ... merely the change of the zoning plan (if building authority and neighbors cooperate) will cost you several thousand euros. So a lot of money, a lot of time – and in the end at best a very narrow plot. There are other ways ... see above.
Regards
Dirk Grafe
Regarding 1.
that is out of the question because the house does not meet my expectations. As an investment yes, but not for personal use.
2. as mentioned, I acquired the property just under a year ago, so there are still land charges in considerable amounts.
You are completely right about what you say.
Building in 5 years does not meet my expectations.
I will inquire at the building authority. Can they say directly whether this is generally possible?