LenaR
2018-11-11 01:28:14
- #1
Dear Community,
My husband and I are looking for help. We want to buy our first home. Our requirements for the house were above all:
- Large plot, meaning garden
- Very good connection to public transportation
- No longer than 15-20 minutes by bike to the city center. We don’t have a car and also want to do without one
- Two children's rooms, because children are planned
- Without a realtor to save costs
Since we live in Frankfurt am Main, these ideas are of course extremely difficult to find. Now we have the chance to buy a house (built in 1959, 130 sqm, €610,000), plot 588 sqm, but it is a leasehold property with costs of €910 per year. Everything without a realtor, which is so rare to find. The plot and garden are huge and perfectly south-facing. The house was inhabited by the same family until both parents passed away. Not much was done, but it was relatively well maintained.
Here is perhaps the listing from ImmoScout:
"This beautiful house in Frankfurt Eckenheim is located on a leasehold plot in the best and very quiet location. The public transport connection is very good. Kindergarten and primary school are in the immediate vicinity. The semi-detached house stands on a 588 sqm plot with a large and well-kept, mature garden. A small staircase leads from the terrace on the south side of the house into the garden with meadows and trees.
The house has a dry basement (also accessible via the garden) with 4 rooms and a large laundry room. On the ground floor, there are 2 living rooms, a fitted kitchen, a bathroom, and a storage room. A stone staircase leads to the 1st floor, where there is a large bedroom. There is also access to a one-room granny flat. This can also be connected to the bedroom (the partition wall is not load-bearing).
On the 2nd floor, there are two more rooms and a WC.
The house is in good condition and the renewed plastic windows are double-glazed and lockable on the ground floor. The heating was renewed in 2002.
The house includes a lockable garage.
The leasehold rent is currently about €917 per year. The leasehold contract runs for another 38 years and can be extended afterwards. Further details gladly on request.
Central gas heating, large electric awning over the terrace."
We fell in love with the house and plot immediately. It is located so centrally, with the bike we only need 12 minutes to the city center, but it is completely quiet and the street in front is just a walkway. That means no street traffic in front of the house. We would like to buy it for €610,000.
Attached are pictures of the house, floor plan, plans, and energy certificate.
My question is, is the price reasonable for Frankfurt city center, are we paying too much? I only know that more than 20 people came to the viewing. The further question is, if we want to completely renovate and refurbish it, what costs should we expect? At the moment, we estimate about €150,000-200,000. But perhaps we can initially do only the necessary things and then work on it gradually.
What do we want to renovate? We would change the floor plan on the ground floor and open everything up. I am attaching a floor plan of how we imagine it.
Unfortunately, I am not at all an expert and know very little about this. So any suggestions are gladly welcome. Maybe keep in mind that the terraced houses we have seen so close to the city center always cost around €800,000 and the plot is very small. I know we do not own the plot, but Frankfurt is very typical with leasehold rent, especially everything that is more central.
First renovation measures
Insulation of the roof, as there is currently no insulation at all and apparently it once rained in
Open up the ground floor and remove walls
New kitchen €10,000-15,000
New parquet floors
New painter’s fleece
New electrical system, as it is completely from the '60s
Two new bathrooms on the 1st floor and attic
Later measures:
Replacement of the windows, possibly make some floor-to-ceiling and install roof windows (triple-glazed with electric shutters)
Later insulation of the facade and basement ceiling
Replacement of heating
Replacement of doors and front door
Complete conversion of the attic
My husband and I are looking for help. We want to buy our first home. Our requirements for the house were above all:
- Large plot, meaning garden
- Very good connection to public transportation
- No longer than 15-20 minutes by bike to the city center. We don’t have a car and also want to do without one
- Two children's rooms, because children are planned
- Without a realtor to save costs
Since we live in Frankfurt am Main, these ideas are of course extremely difficult to find. Now we have the chance to buy a house (built in 1959, 130 sqm, €610,000), plot 588 sqm, but it is a leasehold property with costs of €910 per year. Everything without a realtor, which is so rare to find. The plot and garden are huge and perfectly south-facing. The house was inhabited by the same family until both parents passed away. Not much was done, but it was relatively well maintained.
Here is perhaps the listing from ImmoScout:
"This beautiful house in Frankfurt Eckenheim is located on a leasehold plot in the best and very quiet location. The public transport connection is very good. Kindergarten and primary school are in the immediate vicinity. The semi-detached house stands on a 588 sqm plot with a large and well-kept, mature garden. A small staircase leads from the terrace on the south side of the house into the garden with meadows and trees.
The house has a dry basement (also accessible via the garden) with 4 rooms and a large laundry room. On the ground floor, there are 2 living rooms, a fitted kitchen, a bathroom, and a storage room. A stone staircase leads to the 1st floor, where there is a large bedroom. There is also access to a one-room granny flat. This can also be connected to the bedroom (the partition wall is not load-bearing).
On the 2nd floor, there are two more rooms and a WC.
The house is in good condition and the renewed plastic windows are double-glazed and lockable on the ground floor. The heating was renewed in 2002.
The house includes a lockable garage.
The leasehold rent is currently about €917 per year. The leasehold contract runs for another 38 years and can be extended afterwards. Further details gladly on request.
Central gas heating, large electric awning over the terrace."
We fell in love with the house and plot immediately. It is located so centrally, with the bike we only need 12 minutes to the city center, but it is completely quiet and the street in front is just a walkway. That means no street traffic in front of the house. We would like to buy it for €610,000.
Attached are pictures of the house, floor plan, plans, and energy certificate.
My question is, is the price reasonable for Frankfurt city center, are we paying too much? I only know that more than 20 people came to the viewing. The further question is, if we want to completely renovate and refurbish it, what costs should we expect? At the moment, we estimate about €150,000-200,000. But perhaps we can initially do only the necessary things and then work on it gradually.
What do we want to renovate? We would change the floor plan on the ground floor and open everything up. I am attaching a floor plan of how we imagine it.
Unfortunately, I am not at all an expert and know very little about this. So any suggestions are gladly welcome. Maybe keep in mind that the terraced houses we have seen so close to the city center always cost around €800,000 and the plot is very small. I know we do not own the plot, but Frankfurt is very typical with leasehold rent, especially everything that is more central.
First renovation measures
Insulation of the roof, as there is currently no insulation at all and apparently it once rained in
Open up the ground floor and remove walls
New kitchen €10,000-15,000
New parquet floors
New painter’s fleece
New electrical system, as it is completely from the '60s
Two new bathrooms on the 1st floor and attic
Later measures:
Replacement of the windows, possibly make some floor-to-ceiling and install roof windows (triple-glazed with electric shutters)
Later insulation of the facade and basement ceiling
Replacement of heating
Replacement of doors and front door
Complete conversion of the attic