Finance another house...

That can indeed happen, but the risk is relatively low here. Because what is supposed to happen? The property has backlog of repairs, the owner has sufficient financial means, the monthly burden is absolutely bearable – the worst that can happen to him is that he finally renovates the house properly and lives in it for 30 years.

Drama sounds different.

Regards
Dirk Grafe

Full agreement, that was also my advice. Better to renovate than to build, take on even higher burdens, and have more stress. The possible loss was only an assumption. You always have to weigh the worst case. Also a possible prepayment penalty. After yesterday in Munich, I’m shocked anyway and think there are more important things than letting this bring you down here. I never meant it in a bad way. Have a nice weekend

Full agreement, that was also my advice.

Unfortunately, not mine.

Better to renovate than to build, burden yourself even more, and have more stress.

Again: they have _all_ options. Renovate the existing property. Move out, renovate the house, move back in. Sell the house and build new. No matter what they decide, they only have an organizational problem.

Best regards
Dirk Grafe

We are renovating and staying in it as long as it takes, then selling when it is finished. I don’t want the house anymore, not even when it is finished. Whether we then build or move into a rental house is still open for now; it will take several more years anyway. But at least we are not letting the exterior/driveway be done. That was only because of the parking shortage and because I have to walk 10 minutes to my car every time.

Last week I had a specialist company in the house, mainly because of the [Kontrollierte-Wohnraumlüftung]. However, the heating system still has to be fully documented, there is no diagram or anything like that, and the system is apparently significantly more complicated than an average heating system (15 pumps, >20 automatic valves/mixing valves and that’s without the [Kontrollierte-Wohnraumlüftung] etc.). The control of the heating/solar system is universal, so a new one will have to be installed because the company does not want to use the existing one.
There are now about 5-7k in costs for that, with costs for the [Kontrollierte-Wohnraumlüftung] coming on top, but someone still has to come by again.

We are renovating and staying in as long as necessary, then selling when it is finished. I don’t want the house anymore, not even when it is finished. Whether we will then build or move into a rented house is still open for now, it will take a few more years anyway.

If you don’t want the house anyway, why go through the stress of renovating while still living in it? That definitely has to be reflected in the purchase price; otherwise, it doesn’t really make sense. Normally, you would only choose this solution if you also benefit from the added value afterward.

I also can’t imagine that it should or would take several years. If planned properly, it’s done in 6 months, right!?

Best regards Dirk Grafe

If you don’t want the house anyway, why go through the hassle of renovation while still living in it? That definitely has to be reflected in the purchase price; otherwise, it’s relatively pointless. Normally, you would only choose this solution if you also use up the added value afterward.

I also can’t imagine that this should or would take several years. If you plan it properly, it’s done in 6 months, isn’t it!?

Regards
Dirk Grafe

I agree with Dirk on this... well, whatever, I’m signing off here now.

Hi,

I also can't imagine that this should or would take several years. If you plan it properly, it should be done in 6 months, right!?

The whole thing with purchase/renovation etc. doesn't seem quite straightforward, because I also don't estimate a conversion to take many years. Well, BER and the Elbphilharmonie *evil grin* Nevertheless, anyone who is almost always away from home has little chance to organize such construction matters, and when I read the first post, it seems that some things have already gone wrong in the beginning. Lots of work and "I'll just renovate in smaller stages in between" often clash. I know that from my own experience all too well.
"Nothing lasts as long as a makeshift solution."

well, whatever, I'm logging off here now.

I'll log off too, we're just groping wildly in the fog.

Kermit