Is renovating old buildings worthwhile?

Because of the water. Has a new development area been developed at the top of the slope in recent years/decades?

No. But the neighboring house next door was built in 2005. Maybe its drainage has also affected us :D (At least that is his suspicion because of the dry basement – he was the one who talked about the basement being wet back then.)

Before we renovate, I want to somehow clarify the basement issue. I just don’t know how. The expert we brought in had absolutely no clue.

Try to get an expert who specializes in old buildings. I wouldn't worry about the basement. Maybe it's the neighbor. Until the 80s, there was running water multiple times a year in the cowshed at our place. New development area Berg uphill and peace. For me personally, living in a multi-family house is a no-go. It wouldn't bother you. What happens if a tenant pays rent quite irregularly? Just enough that you can't sue them out. That's very little - at least if you want to cover the capital service with it. We decided to demolish. However, it was a much older house with barn, tractor garage, stables. Take a look under the old carpets or linoleum floors. That's where the dry rot was in our case. It looked fine until it was torn out. Problematic spots were those where more modern building materials from the 40s and younger met old ones.

I don’t understand. We have to manage the renovated single-family house ourselves. For the larger multi-family house, we need rental income. Our financial burden would remain the same.

But the risk with the multi-family house is ultimately higher. What happens if you have the wrong tenants or rent defaults or whatever. In the end, you will have to put more money in and the success depends on more factors.

It’s not about getting nervous. I already knocked out all the infill panels, replacing beams would also be the smaller problem. I’m just thinking about whether a new build would be more economically sensible in the long term. Because once you invest in the old building, you’ve invested. Then there’s no way back. I’m simply an advocate of "think first, then act." That’s why I’m giving it some thought.

Thinking things over and having them secured by professionals is also right and important. So that your renovation is planned as precisely as possible. I also gave a lot of thought to things like replacing beams in our case. The only important thing is the structural consideration. I was also very worried about it because we had to replace a few things… the end of the story: 600,-€ for old oak beams, the carpenter included installation as a flat rate, it wasn’t worth writing it down separately.

You should have the moisture issue clarified by a specialist. But your budget suggests that you don’t have to make many compromises during the renovation.

Of course. The house would suit us. It was purchased to renovate, not to tear down.

And that is the most important argument for me. Old buildings always mean making compromises. You have to want and be able to do that. But then you also have history and charm again.

That you have to pay taxes on the rental income, have you taken that into account in the calculation?

Contrary to the previous speakers, I do not consider your budget for the renovation to be generous. With the living space, it’s gone faster than you can blink.

For me personally, a multi-family house where I live is a no-go.

For me it's the opposite: landlord in the house - never again!

I believe you.
Whereas we live with the landlady in the second apartment in one house. Nice old lady. Who is a deterrent example for everyone who wants to rent out.
Garage we pay rent on time
Basement apartment we pay rent on time
Single-family house rent just enough so that they don't have to move out. She had already tried it twice
Commercial space Rent deferred due to professional ban, whether they manage and reopen is a good question. I wish the girls the best