NicoDeluxe
2016-07-08 22:22:40
- #1
Hello everyone,
I am currently facing a decision. I have been gifted a house, which is in great condition overall. Unfortunately, the house has a small 2x2m bathroom and the kitchen could be bigger. Attached to the house is an old laundry room, which would actually be ideal as a bathroom and hallway. Now I have an offer from a construction company and I almost fell over...
The attached laundry room is still half owned by the neighbor, which doesn’t make things easier, and is about 7 meters long and 3 meters wide.
The company would separate the roof from the neighbor’s building so that it can be raised slightly to gain ceiling height. Furthermore, the walls would be demolished and disposed of. Additionally, a new floor slab would be installed. All in all, the net costs are as follows:
25,000 demolition and reconstruction of the floor slab and masonry
10,000 roof with new roof frame and covering
3,000 windows (4 pieces) and one front door
3,500 tiler
Small stuff like scaffolding etc.
In the end, I’m at 43,000 net, 50,000 gross. On top of that comes ceramics (bathtub, shower, toilet, washbasin) as well as electrical work and sewage from the new bathroom to the existing connection in the basement. Since the heating system would not handle it, a boiler would also be needed to supply warm water to the bathroom as an instant water heater. Probably another 12,000 on top :/
So now I could get a loan of 80,000 over 30 years. But that’s actually too long for me (I’m 27). Now I could also do without the extension and just move in but only take a 40,000 loan and make everything nice inside and pave outside, or I could invest in my dream bathroom and combine the small existing bathroom with the kitchen.
I don’t know if that’s really right, the house is worth 20,000 (terraced middle house) and then put so much into the extension? I don’t think that fits properly. For 80k you can already get a detached house around here.
I’m hoping for some experiences from you. My circle is divided, some say move in without the extension, others say if you put money in, then do it how you like it.
I also want to say that the extension is already dilapidated anyway, so the roof MUST be done, it’s already leaking.
Looking forward to your ideas, I also have floor plans if anyone is interested.
I am currently facing a decision. I have been gifted a house, which is in great condition overall. Unfortunately, the house has a small 2x2m bathroom and the kitchen could be bigger. Attached to the house is an old laundry room, which would actually be ideal as a bathroom and hallway. Now I have an offer from a construction company and I almost fell over...
The attached laundry room is still half owned by the neighbor, which doesn’t make things easier, and is about 7 meters long and 3 meters wide.
The company would separate the roof from the neighbor’s building so that it can be raised slightly to gain ceiling height. Furthermore, the walls would be demolished and disposed of. Additionally, a new floor slab would be installed. All in all, the net costs are as follows:
25,000 demolition and reconstruction of the floor slab and masonry
10,000 roof with new roof frame and covering
3,000 windows (4 pieces) and one front door
3,500 tiler
Small stuff like scaffolding etc.
In the end, I’m at 43,000 net, 50,000 gross. On top of that comes ceramics (bathtub, shower, toilet, washbasin) as well as electrical work and sewage from the new bathroom to the existing connection in the basement. Since the heating system would not handle it, a boiler would also be needed to supply warm water to the bathroom as an instant water heater. Probably another 12,000 on top :/
So now I could get a loan of 80,000 over 30 years. But that’s actually too long for me (I’m 27). Now I could also do without the extension and just move in but only take a 40,000 loan and make everything nice inside and pave outside, or I could invest in my dream bathroom and combine the small existing bathroom with the kitchen.
I don’t know if that’s really right, the house is worth 20,000 (terraced middle house) and then put so much into the extension? I don’t think that fits properly. For 80k you can already get a detached house around here.
I’m hoping for some experiences from you. My circle is divided, some say move in without the extension, others say if you put money in, then do it how you like it.
I also want to say that the extension is already dilapidated anyway, so the roof MUST be done, it’s already leaking.
Looking forward to your ideas, I also have floor plans if anyone is interested.