Plot with desired features found

Hello!

I have registered here as a potential future BH. I looked at a property today (one of many, searching for a year).

+ desired area
+ desired orientation
+ no major road nearby

- large (almost 1000 sqm) and therefore expensive

I thought it was GREAT! Should we go for it? We want to build in 2 years....

I’m looking forward to your wisdom!

3 things to always consider when it comes to real estate: location, location, location

Therefore, definitely buy pro. However, 1000 sqm is quite large. In some parts of Germany, that would hardly be affordable.

Is there a possibility to divide the plot and, for example, build 2 houses or a semi-detached house? That would then be significantly cheaper overall and less lawn to mow ;)

That you only want to build in 2 years is certainly not decisive. Plots can be used as equity in financing. However, you should check very carefully whether your desired property can/may be built there. Because what use is a great plot if you cannot build on it to the desired extent. It might be worth questioning why the area has not been developed so far. If it’s due to the size of the plot, there might be room to negotiate the purchase price.

Best regards

Thank you for your response. An impartial opinion is important to me.
Location, location, location is right! Clear pro!
We actually wanted 700-800 sqm, 500 sqm would be too small. We country kids need space and freedom ;-) So no subdivision or semi-detached house.
The plot is about 25,000 above our price expectation. All costs (broker, tax, notary, land registry, partially still to be developed) included. We could pay "in cash." It’s a bargain; the plot is family-owned and is now being sold. Not uncommon in our area. Many older people have undeveloped land, and the heirs then sell it.
It may be developed with 1.5 or 2 stories. And in all directions ;-) That’s as much as I already know.
An architect will be coming soon and will give us suggestions for development, then we will see further.
Best regards

Hello Joma,

so 25k€ is indeed quite a price premium. However, 25k€ for 200-300sqm "too much" is not really a big deal in comparison. For 25k€, you can barely get 60sqm of land in many construction areas in Germany.

Maybe the land seller can still be negotiated down a bit or save on the surrounding costs (notary fees paid by the seller)? Or maybe one of the neighbors in the area also wants a bit of land/parking spaces or a rear private access?

Best regards