Large plot, additional planting opportunities available - Investor?

  • Erstellt am 2017-07-30 17:03:15

Helmut-Karl

2017-07-30 20:26:21
  • #1
Hello 77.willo, hello Karsten,
we completely restored the house in 1999, it cost us about €200,000.
There are 3 apartments in the house, 1 fully developed hallway, wooden floorboards (wooden planks) oak studs, etc. The hallway has a floor area of about 80 sqm.
A garden terrace fully equipped with wooden floorboards and the barn is also built with red bricks and has a complete concrete floor.
The total area of the yard is about 2,600 sqm. The land price here is about €125 per sqm.
And when the broker then offers me €350,000, it simply doesn't fit.
That's why I would like to build some additions and increase the price that way.
Of course, other interested parties will be needed then, but I hope I will find them too.
Regards
Helmut
 

Nordlys

2017-07-30 20:42:05
  • #2
350 is cheekily little. What Willo means is, if you want to achieve 1 million, but have to borrow 600 for it, you might as well sell for 350. If you want to get one million and bring in an investor who puts in 600 that he financed, he wants to earn from it too and won’t leave you with 350. However you look at it, it will probably be best to find a special interest buyer for exactly this property. But discuss it with someone who knows you and the local conditions, hence the house bank. I hope there is one, not just some internet shop.
 

Nordlys

2017-07-30 20:54:59
  • #3
A few more notes. For a rental property, the value is about twenty annual basic rents. Regarding the 125,- for land. Is that for developed building land? Is the entire yard developed building land? So can I possibly tear down the old house and make four plots or five semi-detached houses or 8 terraced houses out of the 2300 sqm? If not, the 125,- applies only where possible. The rest is then possibly just garden land. As a farmer, you know what that means. Karsten
 

Helmut-Karl

2017-07-30 21:12:32
  • #4
Hello Karsten, according to the municipality, the plot can be built on up to 0.4. But tearing down the house would not make sense, the house is an old farmhouse with oak beams and clinker bricks. But there is still enough space for new buildings. Especially since the municipality favors infill development.
 

Nordlys

2017-07-30 21:29:39
  • #5
If that is the case, there would be two options, without borrowing much yourself. Option one, I find someone for whom it fits exactly the same way and who pays me fairly. A tight market, for both sides. That’s how we had our lucky break with the Diakonie as the buyer. Option two would be to sell the farm as a capital investment, divide the property, resurvey, declaration of division, new parcel number. The separated part sold separately as building land. The rental house would bring the 20 annual cold rents, the land the 125,- All other paths are associated with a larger capital investment and probably, as Willo noted, not more lucrative than one or two. Karsten Note. The separated part must also be [geschlossen], otherwise the 125,- won’t work.
 

Tammy175

2017-07-31 07:14:45
  • #6
Hello everyone, when selling a property, apart from the investment that still needs to be made if you want to renovate, remember that under certain circumstances the sales proceeds must be declared in the income tax return! It is best to get advice from a tax consultant before the sale. If you have to invest a lot and then also have to pay income tax on the sales proceeds, that would be unfortunate ;)
 

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