hanse987
2019-08-24 11:15:44
- #1
Beforehand, I would speak with the municipality or building authority to see how the buildability looks. Whether there are possibly any restrictions.
We are building our own nest - the way & report into the house
- Erstellt am 2019-08-24 10:06:55
philipp1990
2019-08-24 11:21:11
- #2
~35€ per m². Are you sure that it is building land (including all natural and legal requirements for construction)?
According to the gentleman, yes, the neighbors also said they had no restrictions. If we know on Tuesday whether and how we will proceed with the financing, he wants to send all documents by mail. We can freely choose the plot size, I assume the plot still needs to be surveyed.
Paying for the plot directly from equity would have the advantage that you can plan calmly, calculate the financial requirements, and then have the mortgage bank enter the appropriate loan amount in first place in the land register. Disadvantage: your equity is (almost?) gone and you might have problems with the bank regarding reserves and services that are not included in the financing.
Plot financing through a mortgage bank: then you should already know the financing amount and arrange a long commitment period. If you stick to the amount, there is nothing against it. A problematic situation as described by Bookstar would be: plot financed by Bank A and Bank B in second rank for house construction, which becomes expensive...
But with 50,000 I could also imagine it like this since probably about 18 months will pass until completion: With an assumed savings rate of 1,500 Euros, you pay 30,000 from equity and take out a small loan for 20,000, which you repay in 18 months; after that, the house is finished and you pay your regular mortgage installment. The plot is counted as equity in the financing, minus the small loan.
That would be something to consider; the plot still needs to be developed and surveyed. Thus, the equity would be completely gone.
I would knock on the door of the building authority and ask whether the land is buildable as desired and whether a development plan exists. Then also call the utility providers and ask whether connections (water, sewage, electricity, telephone) are available.
I would do that when I have the documents from the gentleman, or before?
I would speak with the municipality or building authority beforehand to find out about the buildability. Whether there might be any restrictions.
I would do that when I have the documents from the gentleman, or before?
Scout
2019-08-24 11:30:10
- #3
I would do that when I have the documents from the gentleman, or already before?
Doesn't matter, but definitely before the notary! Otherwise, in the end, you'll buy a meadow adjacent to the development... and even if it becomes buildable someday, you'll still have to pay for 60 meters of sewer, etc.
This will probably still be a larger parcel now, right? Then take a site plan and draw your probable boundary line on it. You then use that for the inquiries. But then also buy exactly the piece from the plan!
kaho674
2019-08-24 11:31:09
- #4
We also bought and developed farmland back then. Be sure to talk to the utility providers before the purchase to confirm whether development is guaranteed. We had the buildability included as a condition in the purchase contract for the land.
For example, we had the problem that the pressure in the water pipes could not be increased by the water suppliers without further ado. We were the last on the street where it still worked. The person after us then had to have the entire street dug up and thicker pipes installed.
For example, we had the problem that the pressure in the water pipes could not be increased by the water suppliers without further ado. We were the last on the street where it still worked. The person after us then had to have the entire street dug up and thicker pipes installed.
philipp1990
2019-08-24 11:37:54
- #5
Doesn't matter, but definitely before the notary! Otherwise, in the end, you'll buy a meadow adjacent to the developed area... and even if it becomes buildable at some point, you'll still have to pay for 60 meters of sewer line, etc.
This will probably be a larger parcel of land now, right? Then take a cadastral plan and draw your probable boundary line on it. You use that for the inquiries. But then buy exactly the piece from that plan!
We also bought and developed a field back then. Be sure to talk to the utility providers before purchase to ensure that development is certain. We had the buildability written into the purchase contract for the land as a condition.
For example, we had the problem that the pressure in the water pipes could not easily be increased by the water suppliers. We were the last ones on the street where it still worked. The person after us then had to have the whole street torn up and thicker pipes installed.
Thank you very much! You are all a great help The checklist is taking shape!
Domski
2019-08-24 14:14:48
- #6
Everything necessary has basically been said about the developability.
Regarding the financing: the property is also equity. However, if you lack possible reserves due to the cash purchase, finance the property through a variable interest loan (terminable at any time). When you then do the house financing, increase the requirement by the outstanding balance from the variable loan. You can then repay it with this. This could then allow the financing bank to take the first charge.
Regarding the financing: the property is also equity. However, if you lack possible reserves due to the cash purchase, finance the property through a variable interest loan (terminable at any time). When you then do the house financing, increase the requirement by the outstanding balance from the variable loan. You can then repay it with this. This could then allow the financing bank to take the first charge.