New development area

Hello everyone

I need a few tips regarding real estate transfer tax.
In our municipality, a new development area is supposed to be created in the next one to two years. Since we are very interested because we currently rent, I tried some time ago to find out more from the municipality; as a result, I was put in contact with a solution and received the draft of the development plan. I know that the plots are not sold as a local resident model but normally. They are sold by bidding. What is the best way to proceed here? How does the bidding work? I am considering possibly putting a real estate agent on it so that nothing passes me by. Does that make sense? Or should I perhaps already contact a construction company, roughly plan a house, and use their land service? Of course, financing should also be in place, which brings me to the next point. Which bank finances a plot whose price is not yet fixed? It must know how much I can bid. Should financing for the whole project be in place beforehand and the budget for the land be defined? Then the house would have to be planned by a construction company beforehand.
I would be glad if someone could give me a tip on how to proceed or has had a similar experience.

Best regards

Sorry, the autocorrect made a few mistakes. Of course, I am not talking about the real estate transfer tax but about the real estate purchase.

Best regards

has no idea or advice I think it is better to first know the budget for the [Grundstück]

or should I possibly already contact a construction company beforehand to roughly plan a house and use their land service?

No, you do not have to have your house planned in advance before buying a plot of land.
However, you should know the prices for house construction in your region through reference buildings, model houses, and information about equipment, prices for earthworks, etc.
In addition, one should know the price per square meter for building plots in their region.
The space requirements for the future house should also be known. Then you can calculate the approximate costs for the plot, house construction, ancillary building costs, equipment, and outdoor facilities based on reference values.
The visit to the bank or a financing advisor should also already have been made so that you know to what extent and whether the wishes and demands are compatible with the income.

Apparently, you are still at the very beginning with the idea of building a house. At some point, one begins sending out catalogs and checking out construction companies and their show homes in the region to get a feeling of what one wants or what kind of living and house type one is (solid construction or wood, modern or classic). Then construction companies automatically approach you if they have plots available in your area.
Real estate portals are also full of house providers referring to reserved plots in new development areas.

normally sold. They are sold by bidding.

That it is common to bid on plots of land is new to me (except auctions). I also find it new that a bidding procedure by the municipality is considered "normal."

Regards Yvonne

Sold by bid is a difficult matter for you. The market regulates the price. I don’t know how it will work with you – just one bid each, or like at an auction? If there is only one bid, it is difficult to advise you?! How much can you afford and what is it worth to you? Regarding financing: the financing does not have to be secured when placing the bid. That will certainly come afterwards. A conversation with a banker can roughly show you how much you can afford. You can see what a house costs here in every second topic.

Hello,

I need a few tips regarding real estate transfer tax.
In our community, a new residential area is supposed to be developed in the next one to two years. Since we are very interested because we currently rent, I tried some time ago to find out more from the municipality, whereupon I was put on a waiting list and received the draft development plan. I know that the plots are not sold under a local resident model but normally. They are sold by bid.

Even if the clocks seem to have always run differently in Strauß’s land, I am quite sure that you misheard. Plots are generally only sold by bid by a municipality if there is an old building on the site and the development is not so straightforward, or if it is a premium piece. In new residential areas, this is rather rare; therefore, I think that "first come, first served" is meant, especially since the price per square meter of building land is likely known.

How is it best to proceed here? How does selling by bid work? I’m considering possibly engaging a real estate agent so that nothing passes me by. Does that make sense?

If it works similarly to NRW—and I assume it does—a real estate agent won’t help you much; you really have to make sure yourself to reserve a plot in time.

Or should I maybe contact a construction company beforehand to roughly plan a house and use their plot service? Of course, financing should also be in place. That brings me to the next point: which bank finances a plot whose price is not yet fixed? They must know how much I am able to bid.
Should financing for the whole project already be in place beforehand and the budget for the plot be defined? Then the house should be planned by a construction company beforehand.

The subjunctive mood is often at play here…

First, you should approach your bank, an independent mortgage broker, and an insurance company. After these talks, you will have a pretty good idea—even without plot and house offers—how much money you can later commit without letting your entire life revolve around the supposed dream house!

Subsequently, you should be clear about what you want to build: prefab or solid house; lots or little own work. Drafting a complete plan, especially without knowledge of the exact parameters of the eventual plot, only unnecessarily burdens the sellers. Once you have chosen a construction type, you can start looking into providers who offer the preferred construction method and—if desired—allow own work. Reading construction diaries makes sense, as well as visiting new development areas or model home parks.

After that, you have to wait until you can reserve or buy the plot. Only then does a consultation with three providers make sense; simultaneously, your surveyor can begin work. These offers should be comparable; that means: prefab house provider with prefab house provider; budget providers with budget providers, if you decide on such a provider. Comparing apples to oranges has never been and is still not effective.

Edit:
Before you send a post into the forum in the future, please check the autocorrect again. Guessing is rarely beneficial when specific questions are to be answered ;)

Rhenish regards