House financially feasible at about 5,000 net?

An alternative to an existing house is a vacant lot within an established neighborhood, possibly with dilapidated old buildings. It can be in a quite good location, is usually more generously sized than the "parcels" in new development areas, and can also be obtained cheaply if you ask around and "knock on doors."

Exactly, of course the standard in new builds is better. But almost always the location in old buildings is better, usually the plots are also larger. And the theory that renovating a 60-70s shack would be more expensive than a new build just can’t add up. It is of course exactly as says, prices regulate themselves so that it balances out. Otherwise no one would buy and renovate old houses. The advantage of renovation is that the time and financial pressure is not so high. Everything is there at first, albeit old. This is especially clear with outdoor facilities. You can save for 1-2 years until you have the money for new windows or the roof or the heating. You can also do a lot calmly by yourself. You can tell anyway who buys something like that. They are people who don’t have two left hands. They bring these shacks up to scratch for a fairly modest amount and with a lot of sweat and are happy in them or sell them on for a profit and buy the next property. But it will of course never be a new build, that’s the disadvantage.

Is there still such a thing? For at least 10 years, local pushy real estate agents have been sending people through the neighborhoods to generate contacts and find properties. Desperate families have been doing this for years – where once "cat lost" notices were stuck on the lampposts, today notes from x buying families are posted. It has to be a pretty lucky hit. But okay, in the desert every drop counts.. ;)

These properties in better locations can hardly or no longer be afforded by your home handymen. Now only the people who bring the 600,000€ for the demolition house from the 1960s come, and they certainly will not move in there initially. In other words - it will be extensively renovated by companies. And indeed, values come out that would be above a corresponding new build - because the market (which is completely bad here) simply allows for the fact that in addition to the land value, dream values for the old stones are also paid. There are hardly any alternatives and the desperation is great. A house from 2010 costs on the oh-so-efficient market gladly only about 70,000€ more than a renovation case 50 years older. But we don’t have a bubble. ;)