Demolish or renovate an interesting existing property?

Hello everyone,

I have already posted pictures of my existing property in this thread:

Here is my consideration: Renovate and then rent out. I have craftsmen ready. A demolition costs quite a bit, the cheapest was €25,000.

Renovation:
- new windows (would take windows from abroad, possibly with window rebate vents)
- heating + radiators (a good friend would do it)
- electrical (as well)
- new floors and walls
- possibly new bricks
- interior doors
- facade is basically okay (possibly a refresh or, if possible, to brick-veneer it)

Location: the property is in a very popular location, is central and yet quiet.

I would rather not sell it.

Unfortunately, I have no floor plans of the basement/partial basement, sometimes water pushes in from below in winter, but this winter it was dry, no idea what’s going on (the seller had informed me about this as well).

I received these photos from the authorities today, if you look at the ground floor, the old plan is the current plan. The middle wall has been removed in the living room. I don’t have the exact measurements yet. The washing machine room is an extension; I would remove this and have the entrance door relocated to the east side, that is, in the dressing room.

Advantage: I would have more garden in my new building, which will be built behind the property, and would have more privacy.

Question: how could the floor plan be optimized, possibly made into 2 apartments?

You can really let your creativity run wild, so to speak

Thanks to you all!!

I am reluctant to sell it.

With that, you are already giving yourself the answer. I think the house has style. And if it is located in a good area, as you write, renovate it to a standard that allows you to rent it out well. That is probably the most worthwhile option. First, get quotes for all trades. The total amount will then help you make a decision!

With that, you are already giving yourself the answer. I think the house has style. And if it's located in a good area, as you write, renovate it to a level that you can rent it out well. That is probably the most worthwhile. First, get quotes for all trades. The total amount will then be a decision-making aid!

Just wanted to avoid suggestions like "just sell it"

The location is popular with both tenants and buyers, I know that. = 1 km to the city center, everything nearby, very good motorway connection and still quiet.
I grew up in the area.

If I only do the necessary, I think I will be fine with a sum of around €100,000-120,000. The cold rent would be at least €1000.

I will ask a roofer next to see if the roof is still okay.

Exactly. Feel free to get quotes. Whether you then realize everything is another question. Consider what standard you would have, the tenants want that too. A bit of appearance (meaning the facade) should definitely be included. When it comes to floor plans, I'm out. There are experts here for that.... With the amount you have in mind, you're probably well on your way, unless we're talking about metropolises. Keep us updated. I would be interested in 1-2 photos of the view.

I would be interested in 1-2 photos of the view.

Construction began after the recordings, it is now behind it.

What interests me most about the property is what can be done against the pressing water in the basement......I'm curious.

The most important thing for me is, who would be a good contact person here?