Purchase Price Evaluation New Build REH Bavaria - Price Plausible?

Hello everyone,

since I have only been dealing with the topic of buying a house for about 2 months, I wanted to ask you for a price assessment for a property from the developer with the following key data:

- Solid end-of-terrace house with 149 m² (25 m² of which are in the basement as a hobby room)
- Plot as special usage right with approx. 295 m² near Ingolstadt
- very good location in the town
- 2 full floors + basement with hobby room.
- between KFW55 and 70
- gas condensing boiler + solar thermal with underfloor heating
- fittings generally rather absolute standard (no electric blinds e.g.)
- no balconies
- guest WC without shower
- ventilation system with heat exchanger
- partition walls as drywall
- load-bearing exterior walls with brick U = 0.09

Price: turnkey 500,000€.

what is not included in the price: garage, parking space, outdoor facilities

Plot costs about 140,000€ (500€/m²)

Thus, the house costs 360,000€.

Is the price plausible for an end-of-terrace house? Or would I pay far too much? I know that you cannot assess it down to the € precisely, but an approximate assessment whether such high prices are normal about 20 km outside of Ingolstadt. I am really seriously interested in the property and hesitate only because I cannot estimate house prices at all :-(

The property is yet to be constructed?

If yes, expect additional costs in terms of development and initial connection costs, increased earthworks and foundation effort (is there a soil survey report?), trenches for supply/disposal lines as well as the lines themselves e.g. rainwater, transfer shafts, energy consultant, surveying before/after etc. etc.
Turnkey including painting? including interior plaster preparation Q3? including finished floors?

The house would be too expensive for me. I would estimate the basement as separate costs €30,000 - €60,000 and the remaining 125 sqm over 2 floors would cost €2400 - €2600 / sqm, which is already well above the current average. That does not match the stated specifications. We are (admittedly in the East) somewhere around €1800 / sqm with very extensive fittings in solid construction with many floor-to-ceiling windows etc. but that doesn’t really matter, I simply estimate that due to the good location of your property, the land price is being pushed further upwards behind the scenes. The market is just sick at the moment. There is a migration from bottom to top / from inside to outside... In the inner cities, affordable housing is being filled with non-German newcomers, the actual target group for simple city apartments is forced to move to better residential areas, to compensate for that single-family homes and condominiums are sold at record prices... Population growth simply has its price.

300 sqm, should there still be a garage & parking space included? What garden space remains behind the house?

Thank you for the response. Yes, construction has already begun and everything mentioned above is included in the price. It is indeed ready for occupancy at that price (painting work and floor coverings included).

Of course it is expensive. But it’s not only in Bavaria, it’s also near Ingolstadt, which automatically belongs to the Munich metropolitan area. I don’t find it completely over the top, at least.

The 2400 euros/m2 include most of the additional costs (excluding outdoor facilities) and painting/flooring are also already included. That is not really unrealistic and is already due in the outskirts of Nuremberg, and Ingolstadt is already in the catchment area of Munich for many... so if the macro location and micro location suit you. 1800 euros/m2 might be feasible in MacVorpomm - but what exactly does that help you if you want to live in the IN area?

Consider the plot of land (300 m2 at 500 euros): would you even get such a plot for self-building in a location adequate for you (then rather for a semi-detached house), or would the waiting times be too long or only available as a package with a construction company?

Oh, one more thing I just thought of, you wrote "property with special usage rights".

Will this probably be a vertical condominium with its own entrance, meaning the house is not on its own land parcel? In other words, is this the "Deutsche Reihenhaus", Vista or something similar as a construction company? Then also take a look at the discussions in this subforum: