House price way too expensive? Experiences?

  • Erstellt am 2016-04-17 10:47:05

Cookiea

2016-04-17 10:47:05
  • #1
Hello,
after I recently had an interesting and helpful discussion here about the high costs of the underfloor heating, some critical opinions about the total house price came up. We are very uncertain whether we are really paying too much and should still withdraw from the project. As background, it must be said that we have been looking for a suitable house here for 6 years. The market does not offer much and the prices are very high. We want to build south of Frankfurt, in a city that is not affected by aircraft noise. It is in a large new development area, close to the highway which can be heard a bit, centrally located, schools, shopping facilities all nearby. The offer is from the developer, detached single-family house, here are the key data:

505 sqm plot, living area 206 sqm (without basement), solid house, Kfw 70, mono-pitched roof, basement (developed), underfloor heating throughout the house, air heat pump, solar for hot water, parquet floors throughout the house, basement, ground floor, upper floor, developed attic with two rooms and bathroom, electric shutters throughout the house, painting work included, painting fleece, terrace, carport, parking space, upper floor with 3 rooms and bathroom, house connections included, so everything turnkey.
Now the sticking point, the price: 765,000 euros.
The land price is stated at 550 euros per sqm.

What are your experiences? The lending value determined by the bank is 693,000 euros.
 

Malli

2016-04-17 12:32:34
  • #2
Hello,
If the land price is deducted, the house would be 490,000€. We paid 343,000€ for 140sqm with a similar layout, also a basement, roller shutters, underfloor heating, photovoltaics, flooring. Without painting work, house connections, terrace, carport, shed roof. I would estimate another 10,000€ per item for those. The significantly higher sqm number corresponds - I think - to about 100,000€ higher costs (60sqm more at approx. 1,500€ each).
So if the land price is normal there and the construction company delivers good quality, I find the price realistic.
Completely amateur calculation, but if you have been looking for 6 years and found nothing better...
 

Legurit

2016-04-17 12:32:48
  • #3
I have no idea, but I'll try to give you a direction:

765 T€ including purchase incidental costs? So that would mean 720 T€ without those? 277 T€ for the land --> 447 T€ for the house. Less additional construction costs, connections, etc. --> 410 T€ Less basement --> 350 T€ That makes per sqm: 1700 € including painting work and flooring - I think that's within range.

What I would rather question again is whether it stays at 720 T€ or if you still need to add about 50 T€, because you want more sockets, a different bathtub, somewhat more expensive flooring, the carport with roof, or etc. pp.
 

Cookiea

2016-04-17 12:40:18
  • #4
Do you mean incidental purchase costs like [Grunderwerbsteuer], notary, etc.? No, those are additional. The list price is 730,000; with our special requests, we come to just under 770,000.
 

Legurit

2016-04-17 12:53:12
  • #5
Real estate transfer tax, exactly. Okay. You would probably have to look at it in more detail - but it is still not very overpriced - at least my feeling. Whether it is worth it for you, of course, is another question.
 

Gunar

2016-04-17 13:59:29
  • #6
Hello, I have to ask again now. From above, I understood it as the total price for the house plus the land. Now it says here something about a list price of €730,000.00, is that for the house alone? What is the house price, please?
 

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