New construction, selling, renting? Idea generation

We got the property quite cheaply from distant relatives.... And then renovated it with a lot of our own work. The oil heating system was removed back then, now there is a modern gas boiler installed.

The family did not move in there because we saw it as an "investment property," but because we preferred to have family in the house rather than strangers.

We actually never wanted a two-family house.
At that time, we were looking in the area because it fits well with family and job and the possibilities in all directions are good.
But we didn’t find anything that met our requirements and budget. It should also be within walking distance of the train station.
Then my wife remembered that her great-aunt’s husband still had a house there, which had been empty for 10 years and before that was lived in alone by a grandma for 8 years until she passed away.

And yes... this house fulfilled all the criteria:
Close to the station, size was more or less right, big garden included, etc.
So we took on the project and included family.

After living here for 4 years, we are now simply realizing that it doesn’t fit 100% anymore.

Now the question is: make it somehow suitable, or build new. The possibility for that would be in the garden at the back.
And if building new, then continue to operate the whole as an investment property, or sell it.



No, the option doesn’t fit. The house is still too good to be torn down.
Also, with the house at the front, there is not much garden, which is immensely important to us. Everything there is built up and poorly divided. I definitely want to keep the garden at the back.

Building a duplex at the back will probably be tight regarding the development plan. And then we would lose too much garden area again. And we would lose too much garden. We want a big garden.




I would be at the bank already.

Financing another house at the back will be tight, but it’s doable.
I could get a private loan of 30,000 from the family, then it would work 100%.
I already clarified all that with the bank. So all three options are realistically feasible.

Since the Munich area: If the municipality and development plan cooperate

... I wouldn't think of separate buildings from the outset anyway. Even if the parallels may be limited, I recommend this reading to the OP:

For a realistic assessment, one would have to completely calculate the matter and your circumstances. This way, only a crystal ball estimate can be given:

If I were in your position, I would pimp up, extend, and perfect the existing property. This will probably consume only 1/3 of the costs compared to a new build. With the new build, you are already reaching your financial limits. Often, the costs are much higher than expected and you overextend yourselves. The 30K from the family would be gone like butter on a hot stone. In the end, you have huge debts everywhere and are like tied up. Your whole life then revolves only around paying off.

With an existing property, costs can be better overseen. What is too expensive can be postponed without ending up on the street.

I know the thread. None of that can be built. No underground parking allowed. The development plan restricts a lot. Maybe a two-family house would be possible, but no more. And we’d rather keep the plot for ourselves. Site coverage ratio: 0.25 Floor area ratio: 0.3 So not much possible.... Well, since we are currently leaning towards selling (Option 3). There wouldn’t be any more debt then....

That can't all be built. No underground parking allowed.

I’m saying, you shouldn’t get too worked up about the parallels.

Floor area ratio: 0.25 Plot ratio: 0.3 So not much feasible....

Three times zero is zero remains zero, but 1,600 x 0.25 is 400 and 1,600 x 0.3 is 480. So there is still room, and depending on the possible contiguous building depth, interesting possibilities could arise.

And then we’d rather have the property for ourselves.

But if your wishes and the possibilities of the property diverge greatly, I see this as an argument to consider selling.

Three times zero is zero remains zero, but 1,600 x 0.25 is 400 and 1,600 x 0.3 is 480. So there would definitely still be room, and depending on possible contiguous building depth, interesting possibilities could arise.

No, that doesn’t work like that! There are two plots. 850 sqm. On this stands the two-family house. Nothing more can be built on it. Maybe a small extension at most. 750 sqm. The new building is supposed to be constructed here. And we would like to shift the property boundaries a bit, so that the currently empty plot becomes 900 sqm and the plot with the current house 600 sqm. And this is how it should be sold. For the rear plot (still undeveloped) there is the zoning plan as described earlier. For the plot with the current house there are no values, only a building envelope. As said, one could maybe also put a two-family house in the back. But the rent we would get from that is weighed against "living alone," which in that case would be more valuable to us.