Buy a 25-year-old shell structure

Real estate agents are not trusted persons. You can completely forget about [200.000 Fertigstellung]. Expect at least double the amount if everything goes well.

If it is a TOP location in the Stuttgart area, the property is already worth more. I'm with either it is newly on the market or there are reasons why no one dares to take it on. If it were a dream property, I would strike, demolish and rebuild. With such an old shell construction, you can renew most things. For the energy saving ordinance, you will have to take additional measures.

The property is being sold by the bank. I assume they determined the value precisely before taking over the house. There might also be an appraisal by an expert from the bank for an initial overview. Of course, I will not sign anything without an independent appraisal. My calculation was roughly as follows - €200,000 land value and €150,000 for the shell construction, assuming it can be used as it is. For the electrical system and interior finishing, maybe another €20,000, making a total of €370,000, the rest is pocketed by the bank. Since I am not clumsy and my current life situation still allows it, I would like to do a lot of the interior finishing myself. In addition, the house is to be occupied jointly with my parents. However, our maximum budget for the project would be €750,000.

The shell construction reduces the property value by the demolition costs and disposal. So it is worth nothing. How large is the plot and what are the m2 prices in that area? You certainly know what new construction costs yourself. Just take an expert and invest some money. Look at it together with him and have him write a report. Then you can start calculating whether renovation, demolition + new construction, or if it would be financially too much of a burden... Please keep us updated.

I might have to make corrections again. The house has only been for sale for a short time because the owner has moved into a nursing home and has given up permanently. The prime location is in a town 40 km from Stuttgart. I estimate a land price of 200 euros per m2 is realistic, the plot size is 1200m2. Unfortunately, I have to go to the town hall to view the development plan.

750 will probably not be enough with a lot of own work. 400 for the current state, then structural shell adjustment and energy saving regulation you are at a minimum of 450. Then comes the finishing and expansion. But with 800 to 900 it will work.