How do you assess this house? How much budget will be necessary?

Hello dear forum,

my husband and I have a property in mind.

In July we looked at the direct neighboring house, it had "only" 140 sqm living space and was completely renovated. Since the house had sloping roofs throughout the upper floor, it was not an option for us.

The realtor then showed us the house in the listing. However, only like "this wouldn’t be for you, but it costs 319k". He then only showed us the garden of the house. We declined because it was too expensive.

Then we signed the realtor agreement for the first house, but no purchase materialized. Meanwhile, the neighboring house with 140 sqm living space, 1 garage, 700 sqm plot and fully renovated was sold for about 370k.

In the meantime, the realtor listed the house for 319k, then 309k, then 299k and finally for 252k. The listing is now offline.

Now the community of heirs has privately listed the house for 265k.

How high do you estimate the renovation costs at first glance? For a new build most people here assume about €2000 / sqm. How high should one estimate the costs for a renovation?

It is important to us: no water heaters - always hot water, new bathrooms, new kitchen, new floors.

I have asked today for a floor plan and possibly carried out renovations. Answer still pending. I would then add.

What makes us "worried" is that it could be a bottomless pit, as it is a relatively old house.

I would be very happy about assessments, which trades would definitely have to be "considered" in a house of this age. Were things like asbestos a topic at that time?!

I look forward to any advice & tips!

Many thanks in advance

So remote diagnoses are always a tricky matter. But in this case it is truly impossible to even guess anything, since you have written absolutely nothing about the actual object. We now know more about the neighboring buildings than about the house that this is supposed to be about.

Well, remote diagnoses are always a tricky thing. But in this case, it is truly impossible to even speculate about anything, since you wrote absolutely nothing about the actual object. We now know more about the neighboring buildings than about the house this is supposed to be about.

You are right..

But I had posted the link for the house.. it is gone.. does that count as advertising?

Immobiliescout 24 expose 107652068

Kitchen is available for 5 or 50 k
Bathroom likewise
You can estimate that better
How are we supposed to know the current condition and your wishes?

For the building fabric, I would consult an expert.

Kitchen is available for 5 or 50 k
Bathroom likewise
You can estimate that better
How are we supposed to know the current condition and your wishes?

For the building fabric, I would involve an expert.

Regarding the current condition, there was the link.

It was apparently removed.

But I inserted the ID of the exposé.

I will not install a bathroom for 50k. Normal equipment, that's why I mentioned the 2000 euros which are roughly estimated here for a new build. One also doesn't know the wishes of the builders.

What "scares" us is that it could become a bottomless pit, as it is a relatively old house.

This probably happens to every buyer of an old building, and unfortunately, there is no real patent remedy for it. The idea of sending an expert is a good one, but in the end, it will not give you 100% security, because they would only be able to provide that through appropriate openings in the structural elements, and sellers usually (understandably) do not agree to that.

Otherwise, based on the photos, it looks to me as if the building was at some point substantially extended towards the garages, and in the process, the roof was converted to its current shape. You can even see that on the plaster of the facade. It can be okay, but it could also have been badly botched as a DIY job.

I do not know how the land prices are in your area, but assuming about ~150€/m², which Immoscout assumes for this size, that would be 172,000 just for the land and consequently about €90,000 for the house. Based on my own (current) experiences in rural NRW, I would plan at least (!) €1,500/m² for a more or less comprehensive renovation.

In this case, we would be talking about a total investment of approximately €550,000. If you are not able to cover this amount if necessary, I would advise you to stay away from it.