kolben
2009-06-26 15:58:39
- #1
hello everyone,
my wife and I are in the process of buying a house.
unfortunately, prices here in the area are quite high (a terraced house from the 70s or 80s is between €200,000 and €250,000).
now we have discovered a detached single-family house (150 sqm living space on 720 sqm plot) from 1964 for just over €200,000. however, quite a bit would need to be done. (heating / bathrooms / windows + external insulation / new flooring / foundation sealing on the outside ....)
now I’m wondering how to best start calculating this?
should I make appointments with all possible companies / craftsmen and get offers beforehand, or do you estimate everything as a flat rate? it’s quite uncertain.
we have about €25,000 in equity.
now I can still apply for KFW funding - I have read that this can also be counted as part of the equity. but how much KfW can I apply for if I don’t exactly know what costs will come my way?
but I don’t know yet what the individual renovations will exactly cost.
will €50,000 be enough, or will it be €70,000? that makes a difference.
but I don’t really want to take out €270,000 from the bank if I only need €250,000, and vice versa even less.
phew, this is complicated. I hope you understand what I mean.
oh yes, one more question. according to the appraisal the house with land is worth €250,000, offered at about €210,000. is it rude to offer €180,000 or can you do that without feeling bad? it should be as cheap as possible.
how did you approach such a project?
thanks a lot and best regards
Kolben
my wife and I are in the process of buying a house.
unfortunately, prices here in the area are quite high (a terraced house from the 70s or 80s is between €200,000 and €250,000).
now we have discovered a detached single-family house (150 sqm living space on 720 sqm plot) from 1964 for just over €200,000. however, quite a bit would need to be done. (heating / bathrooms / windows + external insulation / new flooring / foundation sealing on the outside ....)
now I’m wondering how to best start calculating this?
should I make appointments with all possible companies / craftsmen and get offers beforehand, or do you estimate everything as a flat rate? it’s quite uncertain.
we have about €25,000 in equity.
now I can still apply for KFW funding - I have read that this can also be counted as part of the equity. but how much KfW can I apply for if I don’t exactly know what costs will come my way?
but I don’t know yet what the individual renovations will exactly cost.
will €50,000 be enough, or will it be €70,000? that makes a difference.
but I don’t really want to take out €270,000 from the bank if I only need €250,000, and vice versa even less.
phew, this is complicated. I hope you understand what I mean.
oh yes, one more question. according to the appraisal the house with land is worth €250,000, offered at about €210,000. is it rude to offer €180,000 or can you do that without feeling bad? it should be as cheap as possible.
how did you approach such a project?
thanks a lot and best regards
Kolben