Land prices and standard land value and tips for land search

  • Erstellt am 2021-05-24 14:53:23

11ant

2021-05-25 15:12:36
  • #1
... which doesn't help the latter at all if no one sells to them. Only occasionally does someone say instead of "no" a completely exaggerated defensive price. If the other party then (unexpectedly) says "I have it, and even with that," the owner is often honorable enough to keep their word. However, this does not mean that from then on every property in that place would be that expensive. Already the next day, someone a street away who is likeable can ask and get a correspondingly good price. It is often simply the classification of the idyll as a "commodity" that closes the doors for potential buyers. The land is gladly given into good hands, just not to the type "highest bidder" (because one simply does not want that kind of person standing next to them at the bar).
 

Benny85

2021-05-25 15:22:39
  • #2
A financial check-up has already been done; you don't decide to seriously look for a plot with true buying intentions if you don't yet know what you can afford. Financing feasibility has already been checked with the help of a loan broker. A total of 525k would be affordable so that the annuity burden does not overwhelm us (interest burden + expected incidental costs correspond to slightly more than the current rent; repayment is considered part of the savings rate, there is still a buffer within the savings rate for other asset building, and we keep some of our equity in order to have a financial buffer for unforeseen events). Overall, approximately 550k would be available for land and house construction; in addition, we can still benefit from own labor during construction, since my father is self-employed in the field of building services engineering. Everything related to heating, electricity, and water we could do ourselves, as the expertise is present in the family, plus drywall, flooring, painting, etc. In my assessment, we would already be in the green from a financial perspective, but we would now rather not squander half the budget on an overpriced plot...
 

11ant

2021-05-25 15:48:47
  • #3

Except that I anyway put a question mark behind the cost reduction achievable in this way: be glad if it succeeds, but always calculate without family discounts.

Being able to do it yourself in a factual manner and being able to do it yourself integrated into the construction progress are two different things.

Maybe this has not become clear enough yet: the plots to be found on the Deep Market are often even "cheaper" than the offers you see online.
 

Benny85

2021-05-25 16:53:14
  • #4
Of course, we definitely factor in the risk that my father, ourselves, or other helpers from our circle of friends and family— for whatever reasons— might drop out, and also that we might not manage the timing. But I know from experience that it is possible and can also bring significant financial benefits if you don’t have two left hands and manpower in the family, not only from the construction of my parents' house in the mid-90s (architect-designed house 200m² with basement— planning, excavation, foundation slab, floor slabs and roof trusses outsourced, everything else done in-house, construction time 1 year, costs about 500,000 DM), but also from various construction sites in the extended family circle, some of which I helped out on myself.

I already understood that, thanks also for your clarifications in this regard; your contribution to this thread is insightful and valuable to me. What I’m still missing is a tangible and feasible strategy for us to reach the goal in the foreseeable future. For access to the "Deep Market," extreme networking is apparently necessary to earn the trust of those willing to sell. For that, it’s already required that people find you likeable, which few can influence without conscious deception. The difficulty level here in Ostwestphalia is also considerably higher than elsewhere — the type of people here are especially distant and reserved, friendships often only arise after years of acquaintance, and the fact that both of us are introverted tops it off — of course, if you really want something, you can come out of your comfort zone, but that is psychological hard labor that only a few extroverts can comprehend. Corona also contributes to the lack of opportunities for networking. Then there is the chicken-and-egg problem: how to integrate into village life if you don’t yet live in the desired location? Then the time component: it doesn’t help us to do five years of hardest networking work just to get a plot for a bargain price if that bargain price in five years is higher than today’s moon price. Prices are expected to rise further as the supply remains scarce but demand increases. Then we would also have less time for financing until retirement and would either have to accept a higher monthly burden through higher repayments or take the risk of having to keep repaying from the pension, the amount and existence of which my generation doesn’t even know yet. Did I already mention that I have a moral problem with befriending people only because you want something from them? I guess the people concerned would have a problem with it too if they found out that I only hang out with them to get access to a plot. So it remains only word-of-mouth through colleagues, friends, and acquaintances, and postings at the village shop for me. If that doesn’t lead to the goal and there are no further ideas, then the dream of self-building is probably over before it even began, or we have to calculate the construction much more tightly because a large part of the budget will go for the plot alone.
 

Ysop***

2021-05-25 17:03:40
  • #5
So the building gaps probably won't just fall into your lap. Unfortunately, you have to overcome your inhibitions and go door to door. Not long ago, someone wrote here who managed to snag a good plot that way. And the neighbors looked sparingly because they themselves would have liked to have the plot – but remained passive.

If you assume that most owners are not in a hurry to sell and would rather keep the building plot in the family, that also reduces the possibilities. Notices somewhere or an ad in the local paper hoping that someone will respond. That only works with a lot of luck.

And then you have to consider what is important and affordable to you. Perhaps there are also developer projects? Or maybe houses to renovate after all?
 

Ysop***

2021-05-25 17:10:13
  • #6


Someone from your region should have a look to see if that is enough for building a house.
 

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