Bungalow Renovation - Renovation and Refurbishment Measures, Selection

Dear Sir or Madam,

My wife and I are currently planning to purchase a (not yet finally selected) fully basement bungalow (built between 1965 and 1975) with approximately 150 m² of living space in a "in need of renovation" condition, in order to then design it according to our ideas. Our budget is €700,000 (all inclusive - purchase, renovation, refurbishment), and we already have some experience with renovating an old apartment from 1910 (room layout, floors, walls, electrics), but no experience yet with renovating a house.

Currently, we would plan the following measures as part of the renovation (each in a way that guarantees the best possible subsidies) – I would appreciate additions if we have forgotten something or if my cost estimates are roughly off:

[*]Heating - installation of heat pump, including corresponding radiators (estimated costs before subsidies €30,000)
[*]Insulation of the house including flat roof (estimated costs before subsidies approx. €40,000)
[*]Installation of new windows with triple glazing, including approx. 4-6 meters of floor-to-ceiling window front (estimated costs before subsidies approx. €20,000)
[*]Installation of new doors with burglary protection (estimated costs before subsidies approx. €8,000)
[*]Bathroom renovation (complete) (estimated costs approx. €40,000)
[*]Toilet renovation (complete) (estimated costs approx. €10,000)

Estimated total renovation costs: €148,000 (uncertainty factor 20%, budget planning therefore €177,600 before subsidies)

As part of the subsequent refurbishment, we had planned the following (larger) measures – also please feel free to comment or correct if our cost estimates are far off:

[*]Laying of high-quality parquet on approx. 100 m² - €15,000
[*]Laying of high-quality tiles on approx. 50 m² - €7,000
[*]Installation of multi-split air conditioning for approx. 100 m² - €4,000
[*]Recommissioning of fireplace, incl. possibly stove - €6,000
[*]Painting of interior rooms - €8,000
[*]Renewal of house electrics incl. cables, sockets and light switches - €10,000
[*]Painting of facade - €10,000
[*]Installation of wellness room (basement - whirlpool, sauna) - €25,000
[*]Pool (outdoor area) - €20,000

Estimated refurbishment costs: €105,000 (uncertainty factor 20%, budget planning therefore €126,000)

We are currently in the phase of object selection, and here are the following direct questions:

[*]What are absolute no-gos for a property – i.e. substantial defects that make renovation to the extent described above impossible? I would assume these are defects in the building fabric, subsidence, cracks, or water ingress?
[*]What additional defects should we watch out for that would cause significantly higher expenses than those calculated above?
[*]How should one ideally deal with the issue of piping? Its condition is usually not clearly known at purchase. Or does one ignore that and intervene "on demand"?

Basically also: Are there things that we absolutely should pay attention to when selecting the property that are not just "common sense" (such as monument protection, maximum subsidizability)? If yes, we would be very grateful for this knowledge.

And last question: To obtain maximum subsidies and make smart choices – who should one turn to? We do not want – especially since we both earn well and are not experts – to end up with an "advisor" who just exploits us and ultimately does not generate added value; we are both management consultants and can therefore usually navigate funding applications & co quite well ... but we also know that sometimes a professional simply brings more. What is your view on that?

Best regards & have a nice Sunday
Thom

Decisive is likely first the location of the property as well as the building substance.

Everything else can be arranged with more or less financial effort.

The location must fit, it cannot be changed. Noise, sun, neighbors, garden, hillside location, etc. The building substance must fit. Materials used, building physics damages, ceiling heights, load-bearing walls, floor plan, roof structure, condition of the cellar or existing toxins in materials used at the time.

If these basic conditions fit, only then would I plan further concretely.

From my own experience, in such a case I would prefer a new build, especially if the financial background is right.

Hmm… Renovation means "almost everything new." Aren't 2000€/sqm living space calculated for that? In your case, so 300,000€ plus buffer?! I find windows, bathrooms, and tiles too low; I've read quite different numbers here in the last 2 years. How expensive is the house supposed to be? What is the value of the house?

My wife and I are currently planning to purchase a (not yet finally chosen) fully basement bungalow (year of construction between 1965 and 1975) with about 150 m² of living space in a "in need of renovation" condition, [...] insulation of the house including flat roof

Both are already good building years, only the flat roof (do both have that?) would bother me / make me refrain.

How should one ideally deal with the issue of piping? Their condition is usually not clearly known at the time of purchase. Or does one ignore it and intervene "on demand"?

And last question: To get the maximum subsidies and choose wisely – who should one turn to? We – especially since we both earn very well and are not experts – do not want to get stuck with a "consultant" who only exploits us and ultimately generates no added value; we are both management consultants, so we can generally maneuver quite well through funding applications & co ... but we also know that sometimes a specialist simply brings more. What do you think about that?

Among other reasons due to such aspects of the technical condition, I would consult not only a financial advisor but also an architect experienced in conversions. In Bavaria, I would have to look that up first myself, but in NRW I could recommend someone directly.

I find everything roughly realistic, rather 10% more. We also did a full renovation and would do it again. On one hand, the cost factor (demolition + shell construction is indeed more than 100k extra compared to dismantling back to the bare skeleton) and on the other hand, the nice aspect of creating something new from something old while using what is already there appealed to us. Good luck! As says: definitely find an architect who is enthusiastic about it!

as @11ant says: definitely find yourselves an architect who is eager for this!

Above all, I meant: someone who brings specific expertise and also goes along for the inspection right away.

By the way, I already admitted elsewhere (in a crosspost thread) that I misinterpreted the question in my previous answer (namely as if it was about two specific candidates from the years 1965 and 1975) – but it is probably just the year-of-construction search window and it is not certain whether any objects have even remained in this filter.