Renovation of mid-terrace house - Built in 1980 - Original condition

Hello everyone,

we are interested in a house and are now estimating the renovation costs.

Built in 1980
Terraced mid-terrace house, 127 sqm living space
Condition: well maintained but everything still in original condition
Basement dry
Attic is converted and already simply insulated, concrete tiles
Oil central heating from 1988, steel pipes

What we need to do:

[*]Heating (probably pellets) and radiators (possibly also heating pipes)
[*]Bathroom and guest WC complete
[*]all windows, interior doors and front door
[*]floors and walls
[*]Electrical installation must be expanded
[*]Breakthrough between kitchen and dining area
[*]Insulation of basement ceiling

We would do part of the floors ourselves (1st floor and attic) and the walls/ceilings.
On the ground floor we would have parquet and tiles installed.
Otherwise, we are not unskilled in craftsmanship and also have help from the family. But we would have the major work done professionally.

We have a budget of just under 150K for the renovation. Will that be enough?
Kitchen is budgeted separately.

The house is located in the south of Baden-Württemberg.

Thank you and best regards

Hi!

I'm also just a "forum loan," but I believe that banks usually estimate around 1000€/sqm for such extensive renovations. So you should be pretty well off with that.
May I ask what the property itself is supposed to cost and roughly where it is located? (The location is also not irrelevant for estimating the renovation costs)

Hi!

I'm also just a "forum borrower," but I believe that banks usually estimate around €1000/sqm for such extensive renovations based on experience. So you should be pretty well off with that.
May I ask what the property itself is supposed to cost and roughly where it is located? (The location is also not irrelevant for estimating the renovation costs)

Yes, I've also read about the €1000 per sqm. That would work well for us.

The house is located in the Rhein-Neckar district (expensive...). The price is currently at 420K. Sale would be from a private owner.

Built in 1980
Mid-terrace house, 127 sqm living space
Condition: well-maintained but everything still in original condition
Dry basement
The attic is converted and simply insulated, concrete tiles
OIL central heating from 1988, steel pipes

Condition "well-maintained" with a build year of 1980 (that sounds "almost modern," but actually means "at least forty years old") probably means "not worn out and without visible building damage," but energetically it is a generational leap compared to today. Rolling some Isover insulation between the rafters was a popular "DIY job" for builders with commercial civilian professions back then, but today it is more of a source of amusement. Heating replaced after only eight years sounds definitely worth questioning. Hopefully, the 127 sqm does not include the usual useless converted attic studio, otherwise it would be very small.

I just looked at the house on the platform. I think 150,000€ is enough for now. But you really have to plan for that. Because, as you said, nothing has really happened there yet.

We placed a bid for the house and received the contract at our maximum limit. We have now ended up at 450K.

Today, I spoke again with our financial broker, who pointed out that we need to submit the renovation costs.
We still have some time until the notary appointment, so we should be able to manage that.
Tomorrow, I will contact a few craftsmen that we already had in mind. But of course, they are not waiting for us either. I hope this will not be a stumbling block.

But for now, we are very happy and excited to have gotten the contract before we dive into the next tasks :)