Renovation costs for 1964 house, 148,000 Euro, 138 sqm. Is the price okay?

Dear home builders,

my husband and I have just fallen in love with a house in the Oldenburg region.
We have not yet contacted the realtor, as we live 500 km away, and I would first like to get some initial assessments here.

Details:

-148,000 excluding incidental purchase costs
-1964
-138 sqm
-solid construction, double-walled,
-plot almost 5000 sqm
-final energy demand: 306 kWh
-heating: gas, central heating
-ceiling wooden beam structure
-exterior doors plastic
-windows double-glazed with shutters
-floor only partially provisionally finished
-no basement
-various outbuildings
-condition according to the realtor "well maintained"

Regarding the kWh figure, I think it should be insulated both up and down, as well as a new heating system; possibly a new roof.
The interior style is old-fashioned, 3 different floors, bathroom old style. There should be three bedrooms, a living room, utility room, bathroom without toilet, separate toilet, kitchen.

I am at work, before it’s gone I am posting this and will write more later.

Best regards - Grön-Kool

Very difficult to assess from a distance. Without insulating downwards from the basement, it is possible but costs ceiling height, which is probably already low (various outbuildings = old farmyard or similar?). The price including the property and outbuildings is something for someone who wants to live really at the arse end of the world. Well-maintained property = regularly painted since construction and that’s it = everything from 1964. In my opinion, the interesting option is to get a nice plot of land. Then rent an excavator and demolish. Check new building possibilities beforehand (outside area?). I do like older properties that need renovation (I am currently renovating one with a similar year of construction). But at that price, there is at least one big catch involved. Location or quality. Maybe both...

Probable location... But that doesn't matter if you want to live there. Well maintained is good, but does not prevent the renovation projects. Electrical, windows, etc. So bring on photos and details...

Hello, thank you very much for your reply. I would never sign anything for such an old house without having an expert inspect it first, just to make that clear... It stands quite isolated, by a canal, fields at the back, neighbor's house to the right, nothing to the left... but only 15 minutes by bike to daycare/ school/ shopping... I don't know, is such a location "less desirable" than those strange single-family home neighborhoods where you can see another neighbor's house from every window? I am not allowed to link, and since we haven't been there yet (we work, have 2 daycare children, 500 km away) I unfortunately can't provide any photos... Ceiling height is low, but supposedly there is this "super thin super insulation", extra expensive, right? Not a real farmhouse, but a farmhouse "style" with several sheds, garage, "bakehouse"... I'll write again later or tomorrow... Best regards :)

I don’t know, is a location like this more "unpopular" than those weird single-family home neighborhoods where you can see a different neighboring house from every window?

Yes, it is. You can already see it from the price. Probably an outer area, so no new construction/extension possibilities either.

Ceiling height is low, but supposedly there should be such "super thin super insulation", extra expensive, right?

That’s relative. If you want to meet the minimum requirements of the KfW (for funding), you’ll end up with about 12 cm insulation plus screed/floor heating. I don’t want to talk it down, but it won’t be easy ==> otherwise, the house would be more expensive. It’s more like the calculation: land value minus demolition/core renovation = purchase price Can still become a great home!!!

before this is gone

Before the house is gone, you should call the realtor. In which portal and with which ID is the gem listed? Then one can try to detect errors and renovations from the pictures.