Anyone has experience in this? The site I found is relatively cheap and I’m hoping the added costs are still comparable to other land plots in the area. Before buying I’ll still ask a contractor but I’d like to get an idea from others’ experience as well.
5 comments
I can’t answer your specific question about the extra costs, but I will say that there is a reason why it is cheap. People don’t want it. When you go to resell it, you will have trouble because people don’t want to live on <4m streets when the new streets all need to be minimum of 6m now.
If you plan on living there forever and never selling or owning a car, then it might be a bargain. If you ever want to upgrade or downsize etc, then it will take extra time to sell.
The only caveat to the above is if it is in a sought after area like near a popular train station, but you say it is cheap so it sounds like it might not be.
Contractors will charge between 5 and 30% higher on this case depending on how hard it is to park their vehicles and how far they have to carry their equipment. But there is no standard. It really depends on how busy they are and how much they stand to earn from the project.
Supply and demand would dictate that you can calculate the expected cost by looking for other plots in that area and calculating the discount.
There is nothing like a free lunch. However, the good thing is that usually these plots remain on the market longer, so if you are looking in an area where nothing is available it may be a good chance.
The house I am selling has a front street of only 2m width (the legal minimum), and I sold it with no problems (rural Japan).
One thing is for sure, any contractor here will try to rip you off. The job will probably be outsourced three times over, as seems normal here, so everyone in the chain wants their piece of the pie.
I’d be very very careful, a lot of these places are cheap because you literally cannot rebuild them with <4m frontage. Make sure you have in writing that you can build before you pay 1 yennie.