Single-family house evaluation - Price exaggerated or still realistic?

Supply and demand. [Bodenrichtwert] and house price can only be used as a guideline at most.

You can already calculate the reconstruction costs. So the price for the land (are there any offers at all? The land guideline value says nothing if you don't get any), additional costs for land purchase, about 2200 - 2500 euros per sqm for house construction, garage/carport/parking spaces/paving/garden plus possibly kitchen. Plus risks during construction execution.

In contrast, purchase price of existing house including significantly higher incidental acquisition costs, and assumption that no renovation is needed. Plus risks of hidden defects.

What is cheaper?

On the local market it came down to the fact that reconstruction costs were a bit cheaper thanks to lower incidental acquisition costs etc. But with construction you also have a lot of work that you don't have when you settle into a ready-made nest.

I don't consider the price unrealistic either. Sure, there's a hefty surcharge for the land, but if we assume just over 470 TEUR, that shouldn't be unreasonable for a house of that size and a high standard including everything (additional construction costs, outdoor facilities, ...). It sounds strange, but it is what it is.

...and don't forget that the 2000/sqm are slowly being exceeded depending on the region and, even more importantly, this refers to the pure construction price per sqm. Without ancillary construction costs/outdoor facilities/garage/garden shed, etc.

This is not meant to be an evaluation of the offer, but only the note that you cannot subtract the land price from the offer price and then divide by the sqm.

Hi,

what about parking spaces, garage, garden area? That eats up quite a bit of money and time, depending on the design.

Yep, that item must not be forgotten either. Garden, paths, and carport were easily 50k€ for us, and we don’t have luxury there, just rather functional.

Calculate differently:
Land today would cost standard land value plus 50% = 250k
House without basement 170 sqm * 2400 €/sqm = 410k
Garden area 50k€
Additional building costs 10-20k€

And boom, you’re at 720-730k€.
In other words, building new won’t be cheaper either. Above all, you first need to have a plot of land...

Regards,
Andreas

If you use the [Bodenrichtwert] to calculate the land price, then the house is expensive. If you use the market price, the house can be cheap. It is purely guessing. "Real" is the price simply because it is being asked.