Cost estimation for major renovation

We live in the middle of Hamburg, so no, the attached multi-family house doesn't bother us at all. At the moment we live in a mid-terrace house from the 60s, before that always in multi-family houses. We've never had any problems.

Then I secretly envy you and withdraw my concerns. :)

Hello, We are carrying out a complete renovation of an end-terraced house built in 1920 with similar dimensions in the Ruhr area. During the gutting process over the last two years, a lot of own effort has also gone into it. Nevertheless, we are rather at 3000€ per sqm. I consider 2000 unrealistic if it is supposed to be reasonably nice.

Thank you again for all the answers! We are still considering a purchase. In the meantime, however, other questions have arisen that are not necessarily related to the renovation. There is a right of way registered on the property. In practice, you have to imagine it like this: you can drive from the street sideways across the property past the house to then reach some garages that are on the neighboring property and belong to the neighboring house. Basically, that would not bother us, but we wonder if that should not reduce the value of the property? Does anyone have experience with that?

Thank you again for all the answers! We are still considering a purchase. In the meantime, other questions have arisen that do not necessarily have to do with the renovation.
There is a right of way registered on the property. In practice, you have to imagine it like this: from the street, you can drive sideways over the property past the house to then reach a few garages that are on the neighboring property and belong to the neighboring house.
Basically, this would not bother us, but we wonder whether this should not reduce the value of the property? Does anyone have experience with this?

In our circle of acquaintances, there is such a right of way.
100 meters long property, 14 meters wide.
There are 2 houses on it. To get to the back house, you have to drive over the front property.
In the cost estimate for the front property and house, the right of way was estimated at 10,000 euros.

Basically, that would not bother us, but we wonder whether that shouldn't reduce the value of the property? Does anyone have experience with that?

The right of way as such is not marketable, so it initially has no value in itself. It must be weighed in the context of a valuation which advantages and disadvantages arise. Of an economic nature (can I not build on my property properly, do I receive a pension, etc.) as well as personal (odor and noise nuisance, etc.). But you only relate that to the part of the property burdened with the right. In the end, it can be a slight influence on the value or also a zero-sum game. When buying an existing house, the right has no further impact on the valuation for you - the purchase price is the value of the house with the burdened part of the property.

Hello,
We are gut renovating an end terraced house built in 1920 with similar dimensions in the Ruhr area. During the gutting over the last two years, a lot of our own work has also gone into it. Nevertheless, we are closer to €3000 per sqm. I consider €2000 to be unrealistic if it should look somewhat nice.

Hello piepen55,
are floors, new kitchen and new furniture also included in the €3000 per sqm?
or is the €3000 per sqm only for energy-efficient renovation?