Renovate a terraced house or build new!!!

  • Erstellt am 2012-10-26 16:57:29

Henry168

2012-10-26 16:57:29
  • #1
Hello everyone,

you can never say it enough, forums like this are simply great, and thanks to the operators and participants.

I hope you don’t feel overwhelmed by the following text.

I am facing the decision to buy a terraced house or to build a new one:

The terraced house was built in 1978, plot size 186 sqm, living space 130 sqm, with a basement, garage about 5m away. Location: very good, 5 min walk to the discount store and the larger supermarket, doctors, dm, bus stops, schools in the immediate vicinity.

The house would need a complete renovation, meaning gas heating including pipe installation, gas connection already in the house (as there are still storage heaters installed), windows, water pipes were recommended to me (because of the age, risk of pipe breakage) and maybe even the electrical wiring. The bathrooms would need to be new. These are the major measures and of course also renovating (painting, wallpapering, laying floors).
The basement’s outer walls are concrete. The inner walls are brick. The problem here is that the first brick on the screed of the inner walls, according to measurement (about 80 no idea which unit it is), is damp. On the first brick is a black protective layer or cardboard. The masonry directly above the protective layer is dry according to measurement. The man from the drying company said it’s not so bad, it’s just an old house. A bricklayer also said it’s not bad, it’s just an old house. Another craftsman with a lot of experience said dampness in the basement is never good and should not be there. If I put anything down there, be it shelves, tires, etc., mold will form.

The house should cost about 160T. For renovation costs I assume about 70T – 80T.

On the other hand, I can buy a plot (432 sqm) for about 100T including incidental costs. Also very good location, 5 min to discount store and Edeka, schools, etc. nearby.

My question to you now is the following:

What would you say about the issue of dampness in the basement?

If the seller does not lower the price any further, is it maybe more sensible to build a new house? Would I get a new build (house only) for 150T with the same living space as the terraced house if I would do some things myself (friends)?

Another question is, in the terraced house I actually have no alternative to gas heating.

If I build new, I could keep my monthly additional costs low with new technologies, like underfloor heating, air heat pump or similar.

The decisive question for me is actually, do I invest the money in the terraced house, then I have a low credit burden but maybe higher heating costs, or have a new house, higher credit burden but lower heating costs in the long run.

Can someone tell me their heating costs with the new heating options?

I am very grateful for any tips and experiences.

Best regards

Henry
 

Similar topics
04.06.2012Buy a townhouse? - Very young family12
09.02.2013What do you think of this property?11
14.11.2014How much should one budget for a terraced house?11
22.01.2016Gas heating without solar thermal?61
21.04.2015Terraced house - Financial framework, land + construction financing13
19.11.2015Land is in sight - Financing feasible?11
01.03.2016Are the construction costs for a terraced middle house justified?18
31.07.2016Instead of a detached house, should I perhaps buy a townhouse now?12
04.09.2016Purchase of a terraced house - I need your advice23
24.11.2017Consultation and opinions on the property32
13.12.2017Buy a Reihenmittelhaus KfW 55 standard and rent it out later27
20.05.2019Property the Second - Please Assess44
27.03.2019Moisture in the exterior wall of a 300-year-old house19
06.05.2020Feasibility single-family house + land 550k-600k NRW75
01.04.2022Is buying a house sensible in the current market situation?!175
14.02.2021Optimization of 150m² single-family house @ 470m² & 19m narrow plot20
01.05.2021Mid-terrace house built in 1989 - assessment/estimation of renovations34
07.06.2024How much should a mid-terrace house cost per square meter today?44
28.01.2024Buying Guide - Mid-Terrace House 197412
26.08.2024Buy a house with electric heating? Or a new terraced house?30

Oben