Financing - Renovation of old stock with high costs: Realistic?

You only live once, children grow up quickly, the years pass by and in the end you regret not just being brave once. The financial situation is relaxed enough now to dare a little bit.

You are right. They still exist or are too rare, those who dare a little and show the finger to boring turnkey house construction. And if they don’t wander around the country for years until the children have to go to school, they simply renovate an old house. There you can create your life’s work, fulfill your "little" dream, just do something for yourself. The only thing that impresses me:

The building was last inhabited in the 70s,

It’s not just an old listed hut, it has also been left alone for over 50 years. That is not good for any house, even less so for such an old house. But I think the architect has taken that into account. However, I am always a bit cautious with an architect’s calculations. Usually, building starts so late that many prices have already risen by 10%. While there can be ongoing complications, there is another price increase. A buffer should always be planned, and I think there is no buffer here, as it is already supposed to be tight anyway, as the original poster admits. But: you can also counteract by being able to fall back on a plan B during the renovation at some points or backtrack if prices run away. And there are also options not to shorten the work at mid-30s, but to supplement it with a side job. That has to be agreed with your own work input, but others have also managed that. It will be two exhausting years. And you don’t have to see that negatively or as impossible, but accept it as a challenge.

They have two toddlers, how do you imagine that? The poor children. I really value your opinion ypg, but advising more side jobs and more personal effort on this crazy project with two toddlers is not good… but ultimately it’s not our decision.

You’re right. They still exist, or rather too rarely, those who dare a little more and give the boring turnkey house construction the finger. And if they don’t roam the country for years until the children have to go to school, then they simply renovate an old house. That way you can create your life’s work, fulfill your “small” dream, just do something for yourself.

Especially with a beautiful old listed building, I can personally totally understand that. Once you’ve fallen in love, you probably calculate somewhat less rationally and with a sharp pencil than with a new construction project, which you have at best seen in 3-D modeling so far. A few years ago, we were considering buying a manor house in catastrophic condition. In the end, the location didn’t suit us, but otherwise, that’s the kind of “life project” that is probably an absolute money pit and still incredibly fulfilling. Not clean and safe and “off the shelf” like so many others. Always cool when people continue to dare something there.

The only thing that impresses me:

It’s not just an old listed hut, it has also been left alone for over 50 years. That’s no good for any house, even less so for such an old house. But I think the architect took that into account. However, I am always a bit cautious with an architect’s calculations. Usually, construction starts so much later that many prices have already increased by 10%. While ongoing complications can occur, there is a further price increase. A buffer should always be planned, and I think there is no buffer here, since it’s supposed to be tight anyway, as the OP admits.

But: you can also counter that by resorting to plan B during the renovation at certain points or pull back if prices run away. And there are still options not to shorten the work by the mid-30s, but to supplement it with a side job. You have to coordinate that with personal contribution, but others have done it too. It will be two exhausting years. And you don’t have to see that negatively or as impossible, but take it on as a challenge.

The long vacancy is a point that would also give me a stomach ache. What is the history of the house in recent decades, ? Has the property been in your family for a long time? Does anyone know if there have already been attempts at renovation?

With the architect’s estimates, you should certainly be cautious too, they are said to sometimes miss reality even in new construction. Maybe you could get an additional practical opinion on the major, particularly costly sites to secure the numbers a bit more?

I really appreciate your opinion ypg but advising more side jobs and more personal effort on this crazy project with two small children is not good... but ultimately it’s not our decision.

It was my impression when I read it that the willingness is there. The children are currently in daycare. And in the East, attitudes towards upbringing are somewhat more liberal due to former roots.

The poor children

That they experience how a house becomes a home? That parents sweat too? I think a lot is possible. They will manage that. Therefore, they are not to be pitied. One does not automatically become bad parents or neglect children just because one is renovating a house. There are those who see the man in EL laying click parquet while they stay with the children. Others see themselves as a team where everyone does more than the traditional role prescribes. If I was wrong about the OP, then so be it. Every person is different, and we don’t know each other. A side job is Plan B in case the money is not enough. It is an option one has, but not something you necessarily think about when you actually want to cut back.

They have two small children, how do you imagine that? Poor children. I really value your opinion ypg but advising more side jobs and more personal effort for this crazy project with two small children is not good… but ultimately it’s not our decision.

As someone who grew up in a house over 300 years old that always needed work: I wouldn’t always see only the negative sides. Such a property – especially with so much garden – is (of course only once the worst dangers have been secured) a huge adventure playground for children. For example, the unrenovated attic with a pile of old furniture, bulky waste and many dark corners or the crumbling old barn was absolutely fascinating for me as a child. My parents probably saved a lot of money on toys and I never got bored for a minute or needed "occupational therapy" because the big old house and the animals and plants in the garden and the large space were so much more exciting than anything I could have been offered in "apartment cage living." Probably it depends on the type. Some only see sweat, dirt, drafty windows, sticking doors, uneven floors and a money pit in such a project. Others see adventure, a life’s mission, the preservation of historically valuable substance. My family was always from the "romantic faction," which TE seems to be according to her posts as well. From my experience, the apple often doesn’t fall far from the tree, so I wouldn’t assume that it will all be a big ordeal for the children.

Child is not the same as toddler. That is a difference, age matters! A child who is just 1 or 2 years old also likes to eat a screw sometimes and dies.