House price reasonable?!

So if the property alone is now worth about 130,000 euros, then I don't find the offer expensive at all, but rather reasonable for 180sqm of living space.

One must consider that we will have about €15,000 in additional costs such as garden, painting, etc. Meanwhile, with some negotiating skills, we have reached €375,000.

Hello,

overall, I also consider the asking price to be rather fair.

Nevertheless, or precisely for that reason, I would urgently advise you to involve an expert appraiser who will inspect the house with you, check for any defects, and also provide an estimate of an appropriate price.

That is money well spent in case of doubt, which can save you from unpleasant surprises.

However, with a one-year-old house from Bien-Zenker, I would not expect any major blunders – I would rather focus my attention on the owner's finishings.

Regards,

Dirk

Thank you Dirk
Unfortunately, we are a bit pressed for time and therefore can only walk through with a friendly architect.
To fix the mistakes of the self-construction, I am estimating at least €5000

Hello Schuckie,

the property will not become 12% more expensive in 1.5 years, unless something big happens locally. So get the current standard land value map and compare it with 2013, but the value is likely to be the same.

Based solely on your descriptions without a local inspection, the price cannot be assessed, but I am a bit bothered by your statement that everything was built simply - because then the price in my opinion does not fit, but would have to be set lower. However, this can be justified due to the (market) situation.

Roughly from a distance and keeping "simple construction" in mind, I would estimate it at around 330-350K€, based on your area details, i.e., as a buyer I would try to get it for 340K€, or the location and room layout would have to be very advantageous for me.

Your current final price including incidental costs (12%) and garden/painting work etc. (20K€) amounts to approximately 445K€ - if you buy for 340K€, the final all-inclusive price would be around 400K€ ... just a thought.

During the inspection with AR, he will also assess the self-performed work, as doc.schnaggl also describes. It can be well done, but that is rather rare and therefore a point where the price can be adjusted.

Best regards Dirk Grafe

Hi Dirk, thanks for your assessment.

I am currently expecting the following arrangement:
Purchase price €370,000 - no more is possible - I think a €50,000 margin is already a bit optimistic. They paid €125,000 for the plot including a district heating connection of €7,500. The land costs were quite cheap because they were subsidized by the city. By now, you pay from €280 upwards in every small town around here.

House €370,000
Broker 3.57% €7,259
Property transfer tax 5% €18,500
Notary fees 2% €7,400
Additional costs €33,159

Total house €403,159

And then the €20K for the cosmetic corrections makes it €423K

Hello schuckie,

where does the time pressure come from?

Is it from your side or from the seller’s side?

Personally, I see time pressure in real estate purchases as bad "advice."

For the (presumably) biggest investment of your life, you should take enough time for thorough considerations and assessments of the object of desire...

Best regards,

Dirk