Inherited property with a prefabricated house built in 1978 - what now?

Hello everyone.

We have inherited a plot of land with an old prefabricated house and are racking our brains about what to do now.

We do not want to rent out the house as it is.

However, the project should not financially burden us. Financing through rental income would be conceivable.

It is a nice plot with 900 sqm and a peripheral location.

I would very much be interested in your opinions!

Thank you and best regards,

Christian

Why don’t you want to rent it out like that? Is it really that bad unrenovated? Option 1: Estimate renovation costs and offset against rental income. Option 2: sell

Except for a relatively new oil heating system, nothing has been done. According to the report, the house is contaminated with pollutants (due to construction), which is also noticeable by a slightly musty smell. The first rough estimate for renovation by a specialist company: 100 thousand upwards.

Do you want to keep the property for later? Or are you not really attached to it?

Apart from a relatively new oil heating system, nothing has been done. According to the report, the house is contaminated with pollutants (due to construction), which is also noticeable by a slightly musty smell. First rough estimate for renovation by a specialist company: 100 thousand upwards.

I read from your introduction that you yourselves have new property.

Honestly, don't do yourselves the disservice of renting it out. Especially with pollutants... That's a bottomless pit...

Sell it and take the equity to make a special repayment.

Yeah, sell.