Is the price for house construction justified/appropriate?

Hello everyone, just registered and already have the first question...

I understand that the land price also plays a role and the location has to appeal to everyone, but for me, it’s primarily about whether what the developer is offering here is worth their 202,000€ and how many € I roughly need to plan additionally to be truly "move-in ready" before I can actually move in.

-Living area approx.: 117.00 m²
-House type: End terraced house
-Land area approx.: 140.00 m²
-Number of floors: 3
-Cellar: yes
-Condition of the property: First occupancy
-Year built: 2012
-Type of heating: Central heating
-Fuel type: Pellet heating
-Garage/parking space: Carport
-Built according to kfw70
-The construction of the building including drainage and landscaping work is carried out according to the regulations [...]
-Before handover, a construction final cleaning (broom clean) and glass cleaning (windows & front door) will be carried out.
-Checking the airtightness of all buildings before handover to the buyers
-Community carport facilities are planned in the turning area


What still needs to be done:
- Painting, wallpapering, all floor coverings including baseboards (except floors in bathroom and WC) and terraces are the buyer’s own responsibility.
- Mailbox and house number sign are not included in the scope of services.
- The steel structure will be delivered with a transport primer. The complete final coating and treatment of the stair structure is carried out by the buyer on their own after handover.
- Fences are not included in the scope of services.
Terrace - The substructure of the terraces will be made with recycled material (3 x 4 m, approx. 15 cm thick). The terraces and privacy walls between the terraces are not included in the scope of services.


So far I calculate for myself 202,000€ acquisition costs + 5% property transfer tax (10,000€) + 1% notary costs (2,000€) + x € for the above-mentioned work.

So I need to get your professional opinion here, is what is being offered worth the asking price and how many € do I still have to invest to actually be able to move in?

Thx & Greetz

dersvennie

Hello, only someone who knows the real estate market in Gelsenkirchen can answer that for you.
Still, a few hints:
- do you want to move to this district
- do you want to move to this street,
- do you want to move to this property
- what is the environment like,
- what is the transport connection like
- and last but not least, what kind of neighbors can you expect, everything is ruined if your neighbor is an idiot in such a densely built-up area

If all of that is fine and you really just want to know the objective property value, there are people who professionally deal with real estate appraisal. then you should not hesitate to spend the thousand for an appraisal report.

Regards Friedrich.