How do you assess this house? How much budget will be necessary?

There are also, as you can see with Boris, usually "standard sizes" for plots of land. In an appraisal, only this portion is then assessed with the standard land value and the rest as green space. Sometimes the dimensions also play a role.

But in the end, that only gives you a guideline that does not necessarily have to correspond to reality. Demolition costs? An acquaintance was once involved with a demolition house (end-terrace house with a basement), and €30,000 including filling was estimated. But if the house has a basement, the basement can possibly still be used. However, this is hard to plan, just as whether the connections can still be used. Therefore, it is better to calculate as if they need to be at least "new" or relocated. Is there a price for the plot?

There are also, as you can see with Boris, usually "standard sizes" for plots. In an appraisal, only this portion is assessed with the standard land value and the rest as green space. Sometimes the dimensions also play a role.

But in the end, it only gives you an indication that doesn’t necessarily have to match reality. Demolition costs? A friend once dealt with a demolition house (end terraced house with cellar), where €30,000 including filling was estimated. But if the house has a cellar, you might be able to continue using the cellar. However, this is hardly predictable, just like whether the connections can still be used. Therefore, it’s better to calculate as if you have to at least “relocate” them as new. Is there a price for the plot?

The price will certainly be oriented towards demand, and as we know, demand is currently very high!

The purchase price was set at 149k for 1263 sqm.

As mentioned above, I will still go to the building authority today. If they explain to me there that only 500 sqm are considered building land and the rest as green space, I will inform the realtor accordingly and see what she says.

In my opinion, it is not yet at the point here that everyone is willing to pay any price. That also applies to us.

And if one insists on the 149k, even though it should be less, then that’s just how it is and we will simply keep looking.

The price will surely be based on demand, which is currently known to be very high!

The purchase price was set at 149k for 1263 sqm.

As mentioned above, I will still go to the building authority today. If they explain to me there that only 500 sqm are considered building land and the rest as green space, then I will inform the real estate agent accordingly and see what she says.

In our opinion, it is not yet the case that everyone is willing to pay any price. This also applies to us.

And if one insists on the 149k, although less should be included, then so be it and we will just keep looking.

If you are under no pressure, that is of course good. But I also know a case from acquaintances where people long rejected actually reasonable offers (at that time 500 €/sqm in a very good city location). In the end, the market passed them by and they ended up paying around 800 €/sqm in a suburb with little infrastructure and poor connections.

So either you have a lot of time (>5 years) and can wait for a real price drop, which will come in some areas and not in others, or you now have to rather quickly buy assuming that it won’t get any better anyway.

Take a look at the development of the official land values in recent years. Typically, they are updated every 2 years and then represent an average from those years. So they always lag behind by at least 1 year, at most 3 years. With that you can check a bit more precisely whether the sellers’ expectations fairly match.

It doesn’t get better.... just take a look around at how prices have developed in Bavaria – and there is no end in sight. Or in southern Rhineland-Palatinate. Actually absurd price developments (were already absurd 2 years ago) – but have continuously worsened, meaning: it kept getting more expensive. The m2 at around 1000 € was considered impossible a few years ago (except for central locations)... Therefore: anyone who can get a building plot in an area with good infrastructure and good transport connections can hardly go wrong. It won’t get cheaper. On the other hand, anyone who buys a large piece of land in the “prairie” can quite possibly be on the losing side price-wise in a few years. The market is practically playing textbook – the sellers are happy, the buyers are annoyed. It is what it is.

It’s not getting any better.... otherwise, just look around how prices have developed in Bavaria - and there is no end in sight. Or in southern Rhineland-Palatinate. Actually absurd price developments (already absurd two years ago) - but they have continuously worsened, meaning: it has kept getting more expensive. The €1000 per m2 was considered impossible a few years ago (except for central locations)….
Therefore also: Whoever can get a building plot in an area with good infrastructure and good transport connections basically can’t go wrong. It won’t get any cheaper.
Who, on the other hand, buys a large piece of land in the "prairie," can quite possibly end up on the losing side price-wise in a few years. The market is practically playing out like a textbook - the sellers are happy, the buyers are annoyed. It is what it is.

Exactly!

I thank you very much for your suggestions.

It may be that someone comes and pays what the seller asks for. However, most of the northern part of Bremen is not as expensive as other cities.

We are in no hurry at all, since we live in our house and have no time pressure or similar problems.

But if you sum up the land + purchase incidental costs + construction costs + additional construction costs, you can get a good house in a better location and preferred districts for that money.

We don't want to leave here, but that doesn't mean we want to pay twice as much either.