Build, buy, renovate? - How reasonable is it when desiring a modern house?

Hello dear forum community,

after my partner and I have been intensively dealing with the self-built home project since January, we have now reached a point where we rely on detailed experiences from you.

We currently live inexpensively in the Eifel and are increasing our equity in terms of our project. With a budget of 500-550k euros, we want to own a modern single-family house for the future.

Unfortunately, the house/land search is (not surprisingly) difficult. Our ideas would correspond to a well-maintained house in a well-kept area with a neighborhood built from 1980 (or correspondingly modernized). A rural but existing infrastructure would also be important for us, as we value that our children can later be out and about by bike.

Unfortunately, the waiting lists for the corresponding new development areas are long, although we have a promising position in our hometown. As an alternative to a new build, we could imagine buying a house, but unfortunately the properties that catch our eye (from the 90s) are exorbitantly expensive and not modernized. Or in a bad location. Occasionally we discover houses built in 1970, but they would have to be comprehensively modernized for us to be satisfied.

This raises some questions for us:

1. Suppose we buy a house from the 70s and bring it up to the latest state of the art, that does not change the year of construction. What disadvantages arise from this with regard to durability etc.?
2. Who among you has experience with such a project and would be willing to share it here? Was it worthwhile? Would you do it again? What are, from your point of view, the advantages and disadvantages?
3. We value energy efficiency and modern heating technology (preferably air/air or air/water including photovoltaic system). Is something like this possible in the context of renovation and a normal cost approach?

I already thank you for your experiences and answers.

Have a nice Sunday!

Hello :)
we are currently renovating (and are still quite at the beginning) a house from the 80s, so not quite comparable.

1. I can say less about that, as probably different building fabric than with us. But I wouldn't know why a house from the 70s shouldn’t be durable if it has been renovated?
3. We are planning a KFW renovation, so quite comprehensive. I don’t know what you mean by "normal cost approach," but I wouldn’t assume that. Currently, EVERYTHING is expensive, waiting times are long. Kfw funding also means it has to be done by a specialist company. For us, that means doing more ourselves where funding doesn’t matter anyway.

If the good houses are exorbitantly expensive, then new builds or old buildings with renovation will also be very expensive.

The question will be what you can afford, and then the demands come. :-(

Welcome to the forum.

1. Suppose we buy a house from the 70s and update it to the latest technology standards, that doesn't change the year it was built. What disadvantages arise from this regarding durability, etc.?

None at all. The house will outlive you.

2. Who among you has experience with such a project and would be willing to share it here? Was it worth it? Would you do it again? What are, from your point of view, the advantages and disadvantages?

There are several renovation threads here, just browse the forum.
Personally, I completely renovated a house from the 60s. Would do it again anytime.
Advantages: There are no building plots here. In my case, the renovation was cheaper than a new build. Perfect location of the house.
Disadvantages: You are bound to the existing floor plan. A wall between kitchen and dining room can always be removed somehow (structural engineer!), but generally the floor plan and many other parameters have to fit. You can hardly increase the ceiling height.

3. We place value on energy efficiency and modern heating technology (preferably air-to-air or air-to-water including photovoltaic system). Is something like this possible within the scope of a renovation and a normal cost framework?

Of course, that is possible. It’s all a question of effort. What do you understand by "normal cost framework"?

Anyway, with a renovation you always have to make compromises somewhere, even if you gut everything and redo it.
If you really want everything new, it can end up being more expensive than a new build because you pay for still usable living space, you pay for gutting, and you pay for doing everything new. It depends entirely on the purchase price.

Yeah, a house with a consistently tight roof will stand for 1000 years, there are quite a few of those. The technology is what's renovated. Whether it makes sense to renovate a house from the 70s to current new-build standards is definitely questionable. In my opinion, in such a case, one should renovate to a reasonable, comfortable condition without having to comply with what I consider the exaggerated airtightness and insulation measures of a new building. I don't want to have a house that only doesn't get moldy with a running ventilation system.

Thank you very much for your answers. By a "normal cost approach" I understand that I should not have to put in another €250k on top of a purchase price of €350k. Contemporary insulation, windows, heating, and photovoltaics would be particularly important to me. Within the scope of our own work, we can only do "general" tasks that do not require any special professional training. Both are solid amateur craftsmen (chiseling off plaster, gutting, laying laminate, painting, etc.). : From which year of construction would a corresponding renovation make sense in your opinion? : What measures did you have to undertake and what was the biggest challenge? Best regards

3. We place value on energy efficiency and modern heating technology (preferably air/air or air-water including photovoltaic system). Is something like this possible within the scope of a renovation and a normal cost framework?

I already thank you for your experiences and answers.

Have a nice Sunday!

Why not a brine-water heat pump with deep drilling? As far as I know, it is the most efficient solution among those mentioned. And you don’t have an ugly outdoor unit standing next to the house...