Property purchase: What should I pay attention to? Additional costs?

Hello dear ones,

I am completely new here and already find this forum great.
A short introduction about us. My husband and I have been living in a big city for a few years and have been dreaming of owning a house for a long time. Since we are not exactly high earners, sooner or later we will have to move somewhere outside.
Now we have found a (cheap) plot of land with an old house on it (401 m2). We would then tear this down. Costs for this: 10,000 € (a friend of my husband would do it and also dispose of everything).
We would build the house with Ytong, as you can save a lot through self-labor there. My husband is a carpenter and we also have many tradespeople in our circle of friends.

Now my questions:
1) What do I have to pay attention to when buying a plot of land?
2) How much can you save through self-labor? The house should cost about 124,000 euros turnkey. But we want/can pay at most 90 - 100,000 €.
Could we actually save about 30,000 €?

Attached is the plot of land again. I would appreciate opinions.

Wohohoooo... those are some numbers... :D

If a property is cheap today, there is usually a reason. The reason here could be the old house.
Where do the disposal and demolition costs come from? Are you sure that €10,000 will be enough for you?

Why can you save a lot with Ytong?

What do you have to watch out for? Is the property free of debts? Because you buy those too. Is it fully developed, are all invoices (municipal road, sewer costs, etc.) paid? Could modernizations come in the next few years? The bill can easily be €10,000.
Have you added about 8% as incidental acquisition costs to the purchase price of the property?
The street is called "Am Hang" [At the Hill]... is the name program here? Because then you can expect hefty additional foundation costs. Or should the cellar be preserved?

Turnkey house for €124,000? In which newspaper ad was that? Or, in which country do you want to build?
Or is the house going to be a small holiday home?
How big should the house be?

You can save quite a bit with your own work if you know how. But the annoying thing is, you can only save the labor costs... you have to buy the materials yourself. Just the additional construction costs will probably eat up 30% of your capital.
€100,000 is never enough to build a house in Germany.

Before you buy the property, think carefully again about whether it is the right thing you want to do. Best with professional support from an independent financial advisor.

Now my questions: 1) What do I have to pay attention to when buying land? 2) How much can you save through your own work? The house should cost about 124,000 euros turnkey. But we want/can only pay a maximum of 90 - 100,000 €. Could we really save about 30,000 €?

1) Are there any contaminations on the land? Is there a valid development plan that possibly specifies the size / eaves height / placement of the house on the plot? Are there any entries in the land register? (Such as pre-emptive rights, easements, etc.). Is there a soil survey for the plot? 2) Did the old house have a basement? Will it be demolished? Do you want to build with a basement? 124k€ is nothing. You won’t get far with that here, even with YTong and a lot of manual work, since building materials have also become expensive. Own work always sounds great, but often it is forgotten that an amateur takes much longer than a professional and only has limited free time / vacation to build, and in the evenings you don’t always feel like going to the house,… How much you can save: it depends on your house and your house supplier. If you are calculating only 90 – 100k€ for the house, it will be very tight. If you calculate 90 – 100k€ for house + ancillary building costs: forget it! Our basement cost 50k€ for 70sqm floor area (so very small). The street where you want to build is called “Der Hang”. Therefore I assume that the terrain is not flat, then you have to calculate even more for your ground conditions.

Thank you first of all for your answers. So by affordable I meant affordable for us. It’s not a bargain, but about 10% below the standard land value, if at all. The house that is still standing there has no basement and the person who wants to demolish it for us will take a close look at it next week. We will get the land registry extract next week; only then will we see if there are any encumbrances, debts, rights, etc. registered. The plot is also not on a slope, even though it sounds like it :D So we are not approaching the matter completely naively. We are still in the planning and discovery phase. With Ytongg you build a kit house. That means they deliver everything to us, but we lay the bricks ourselves. Our current breakdown looks like this: €124,000 house (according to Ytongg) €20,000 additional building costs (including taxes, realtor, notary, etc.) €10,000 demolition I am not allowed to name the price of the plot, otherwise my husband will scold me :rolleyes: Hmm, I am actually startled that you are so surprised about the price of the house. We have it here in black and white.

Oh yes, we would like a very simple single-family house with a maximum of 120 m2, without a basement.