Renovation of an old building - What costs will I face?

Hello,

we are currently looking for a building plot, but this is not so easy here with us. Now we are considering whether we should maybe also look at a used house. Such a house (60s or 70s) would perhaps cost 400,000 - 500,000 euros (160 m² living space). Now the question is what the renovation would cost, i.e. new electrics, water pipes, heating, windows, external insulation, bathrooms... whatever comes up with an older house. Are there any guidelines for this?

Best regards
Sabine

Hello Sabine,
I believe that the costs for renovation measures can only be estimated based on an appraisal ([Statik], [Substanz].....)
And even then, it would be wise to add a certain financial buffer on top to be protected against surprises.

Hi, just read again, 400,000 - 500,000 Euros for 160m2 from the 60s-70s? Can that be right?
Sent with my mobile device

I think there is one zero too many. But only a professional can estimate a renovation. And then you should still have at least 10 to 20 percent buffer. A complete renovation can be quite expensive. I just went through it. It was significantly more expensive than expected, but significantly cheaper than a new build.

no, unfortunately it is at least 400,000 euros, you can also spend 1 million for a used house here. I would just like a guideline, is 100,000 euros enough or rather 200,000 euros? How expensive was your complete renovation? Best regards Sabine

Hello Sabine,

I would just like a benchmark, is 100,000 euros enough or rather 200,000 euros? How expensive was your complete renovation?

There is no such thing, as no house is like another. It depends on the overall condition of the used property. Has it been regularly maintained or rather not? Only an expert (not a bank employee!) can answer that. Proofs from the sellers would also not be bad; energy certificate of course.

Only knowing all the key data - location, age, condition, required renovation effort - can you make a decision. Even then, there is no guideline, as individual personal preferences often promote economically nonsensical decisions

Rhineland regards

From the circle of acquaintances: House, built in 60, purchase price 200,000, major renovation with a lot of own work about 200,000. However, that was without a damp basement etc. You are well advised to consult an expert, but I would already expect around 200k. There are also renovation calculators online, if you google [Effizienzhaus online] or [sanierungsrechner], there are quite a few results.