House Purchase - Risk of Settlement House - Various Questions

Hello everyone,

I hope that one or the other here can perhaps provide a little help.

We are considering buying a settlement house. The property was built in 1958 and has 100 square meters, on about 600 square meters of land, and is located in the Cologne area. The exterior facade still looks well maintained, everything is dry.

What has been done so far, although some time ago:

Water pipes 2010
Windows + electric shutters 2012
Bathrooms 2010
Roof including insulation 1995
Carport/terrace roofing around 2005
Electricity partly on the upper floor

What urgently needs to be done:

Heating - KVA gas condensing boiler is available
Electricity - Can be done by a friend who is an electrician
Renovation like floors, wallpaper, etc.
New kitchen

Otherwise, things that in my view simply come up when you own a house.

Examples: Painting garage door, replastering and painting garden wall boundary to neighbor, etc.

The property is supposed to cost 260,000 euros and is cheap in terms of price if you look around the area. Of course, this does not correspond in any way to the real value. Where else do you find houses near big cities that correspond to the real value? Money to modernize/renovate of 40,000 + 10,000 euro buffer is available.

We have looked at the property with an expert and unfortunately I have to say that this did not bring me any added value. Why, I will come to now.

We have a continuous crack in the basement ceiling (laundry room). The only room in the basement that was plastered. According to the expert nothing serious. This was confirmed to us in writing.

Moisture was not measured, difficult due to steel beams in the ceiling?! Expert: Moisture would be smelled and everything here fits. Everything also looks good so far.

Today I went through the basement with a moisture meter from Brennenstuhl. The device showed me values between 15% and 18% at 99% of the spots. But in the heating cellar there is a strip where the plaster flakes off. There it was between 28% and 33%. According to the device, therefore wet.

Length approx. 50cm, width 20cm about 20cm above the floor.

Something like this should in my view be seen by an expert. Maybe my measuring device was not suitable. If it was, then I currently do not have a good feeling. And if something like this was overlooked, then what about the crack? I am currently lacking trust, which of course is simply due to the amount involved.

I am currently struggling because of the moisture and the crack regarding a purchase, even if it really is a great house and meets our wishes.

My concrete question is, what would you do?

Best regards

What would I do?

I would ask the expert about the values and whether he would look into it again regarding this matter.
You are talking about a strip of 50 x 20 cm... that would not be enough reason for me not to buy a decent house.
Calculate 5-10% for unforeseen circumstances, and then it's fine.

None of this would be a reason for me not to buy the house if everything else is in order (including the financing excl the renovation).

Hi ypg,

thanks for your answer. The house is old but gives a very well-maintained impression. Invoices have been meticulously kept by the previous owner. Of course, the doors are not the newest, and renovation is necessary. For "normal" things, we have enough acquaintances who support us, own houses themselves, or are even professionals. The location is absolutely right and the garden is great.

We are currently just panicking that the damp strip in the basement might end up breaking our necks. You sometimes read about amounts of up to 50,000 euros for basement renovations.

Best regards

Your concerns are justified, so send him in again. He should then charge for 1 more hour. What are 100€ compared to sleepless nights. You yourselves say the house is cheap. Cheap doesn't have to be a negative thing, but it can be an indication.

Hello everyone,

The notary appointment would be next Friday. I just consulted the expert again. He will come along again. However, he already said on the phone, not a big deal. Nothing that couldn’t be done with little effort. Nothing unusual for the build year. On the contrary. Well...

I will try to get into the house again today, then I will take some pictures. Remote diagnosis is of course not possible, but maybe someone here can still alleviate some concerns.

Best regards

It is completely normal that a 1958 basement is not bone dry. According to your story, the basement of this house even seems very, very dry to me. In the late 50s, some moisture in the basement was even desired because potatoes or apples were stored there, as well as coke and briquettes. It should be sufficient to chip away the damp spot and patch it with a renovation plaster based on lime cement that can breathe; these plasters are also used for plastering churches or castles because these old buildings never have dry walls. Otherwise, the late 50s are just the late 50s. However, such a house can still stand for another 100 years with a loving hand. Karsten