Renovation costs mid-terrace house built in 1995 - and consultation

I have now tried two online tools out of interest (once at CheckXX and the tool of the bank with the red emblem), the one from Check shows 584k (market value) and the one from the bank 485.... so much for the accuracy of such tools... if I take the average, I end up at 530-540k. What is probably correct?

Well, with 4, 5 and 8 they seem to agree ;-) Online tools are obviously imprecise, and even if you enter postal code and district exactly, they may only have one reference value per bank code area or Nielsen area stored. The appraiser will have proceeded methodically and more reliably. So you should take his valuation result more seriously than an average from newspaper horoscopes.

You should start your own business as a coach

That you say that of all people... with clients like you I would be doomed to starvation – so far I have offered you my support several times unsuccessfully...

Sure? 530,000€ and 585,000€ are not 1,000€

Yes, exactly. Then I had mistyped. The difference was almost 100,000 euros.

Yes, mistyped?! There was something else written before, I think. But whatever, it fits with the "digit slip" :)

Hello HubiTrubi and hello everyone,

this is probably not a constructive contribution, but I just want to say that our bank has stated the lending value of our most likely future RMH (built in 2006) almost 100,000 euros lower than what we are paying. However, my search up to that house instilled such a fear of missing out that I dared to negotiate the price. (The loan was not a problem anyway because we can bring in some equity.) Now I feel like Hans in Luck! Too stupid for the world... but the will to negotiate is a personal decision. On the contrary, I even thanked the heavens for not ending up in an unannounced (!) bidding process as stated in the advertisement, since the realtors and especially the private sellers around here are totally into that. By the way, we searched in the Hamburg metropolitan area (and the search is now over, hopefully very much so...)

We have planned very similar renovation works (main bathroom, floors, painting)! Now I think my budget for the bathroom is (too?) large, the budget for the floors and painting too small... However, we will leave the tiles on the ground floor unchanged, even though they are not my dream. The point about the interim house, where you only do the essentials, is quite helpful, but with a complete bathroom renovation (including all tiles there) we also hope to preserve value until a possible resale of the house.

Best regards!

Hello, for us the bank's appraisal was even €125,000 less than the final purchase price, but since there is a housing shortage in the FFm area anyway, I didn’t think twice about buying the place anyway. You can spend years searching and still not find the perfect property. If the overlap fits and there are more pros than cons, then you should go for it.

But back to the banks, financing always looks very easy on the internet, but what I have learned is that the process is much more complicated and you don’t just get €500,000 handed to you :).

The appraisal is also a very crucial point where you simply don’t get financing without enough equity, even if your salary is actually sufficient.

The renovations are also giving me a bit of a headache right now, but that will somehow work out ;D.

:

Nice, another one with a mid-terrace house in the Hamburg city-ring :)
Where, if I may ask?
We have ours (built in 2000) since a month and are currently still heavily renovating.

By the way:
We also "overpaid" but the financing went through smoothly and that, even though we are uneducated people from the "working class" and only contributed the additional purchase costs.
There was also a bit of last-minute panic but in the end we are totally happy with our mid-terrace house in the desired location.

By the way, we will renew a whole 90 sqm of floors, with only 16 sqm of tiles to be knocked out.
All DIY. Total price: approx. 3,500 EUR (click vinyl from Parador)

Hi Hutchinson, please tell me what you think of the click vinyl from Parador, as I would also like to use it.