Soon we will be property owners - what should be done now?

Hello everyone.

Today we received confirmation that we are allowed to purchase a building plot from the municipality.

Now, of course, several questions arise immediately:

1. What insurances do I need now? Do I already need builder’s liability insurance (in case someone gets injured on the property), or does that only apply once construction begins?

2. As the owner, do I have to clear snow now, or am I only obliged to do so when I live there?

3. Can I expect any tax advantages from the land purchase on my income tax return (similar to craftsman invoices)?

What else should be considered now?

Thanks in advance

Congratulations on the property first of all...

Regarding 1): You can first take out property liability insurance. That's what we did, it cost us 40€/year.

Regarding 2): Yes, you have to.

OK. Then I guess I still have to talk to our insurance person this year

Hi there

If it is a property from the city: Do you have to buy it now?
Fortunately, I also found a municipal property - it is now provisionally reserved for me. Nobody else can snatch it away from me.
But due to (1) and (2) and the fact that property tax is also payable directly from the date of purchase, I am taking my time with the purchase for now.
There are still plenty of things to clarify and the building application has not even been submitted yet.

Regards
Micha :cool:

Just for your information. The property tax (for undeveloped land) for me is about €50 per year for 350m². So not really a big deal or a reason to wait.

Thank you for the reference value.

I agree, especially since private properties here are offered at 3-4 times the price (because the municipality has strict allocation guidelines).

We would then have around 660m², so it would be (of course depending on the municipality) about 100 €.

The property liability insurance is another 40 €, making a total of 140 €.

What about point 3? Can someone tell me something about that?