Single-family house purchase: Estimate purchase price + renovation costs within budget?

Good evening,

we would like to buy an existing house, which we then want to comprehensively renovate / refurbish. Currently, we have one in mind. Built in 1976, 200m² living space, 560m² plot including a granny flat. Quiet but conveniently located.
Approximately:
House price: 400,000 euros
Budget for renovation: 200,000 euros

We were and still are often unsure during house viewings whether our budget will be enough to realize our dreams. I deliberately say dreams because we certainly will not be able to implement everything we wish for. Ultimately, advice on which work makes the most sense is the be-all and end-all.

Therefore, the question to you: How did you approach the house search?

Whenever it got more concrete, did you involve and pay an architect or a building surveyor? That can potentially become very expensive.
We ourselves are two computer scientists. Not stupid, but no experts in construction. ;-)

Thank you very much for any tips

.....House price: 400,000 euros Budget for the renovation: 200,000 euros

That’s quite intense! ;-)

....Whenever it got more concrete, did you involve and pay an architect, building expert? That can potentially get very expensive.

True enough, moreover building experts and architects at best have expertise regarding the building fabric. When it comes to the technical installations, they mostly fall by the wayside, as is often the case with new construction projects! This is not a reproach, the relevant training is simply lacking. How do you proceed?: For those searching, usually two aspects count: sale price and individual, emotional gut feeling. An independent expert is clearly free from the latter ;-) Here facts count more! Existing properties often harbor significant risks that the uninitiated do not recognize or cannot assess. Sometimes afterwards often a considerable money pit! With extremely expensive building plots, it can make sense to acquire an otherwise "junk building," whereas with moderate land prices this usually leads to economic problems due to excessive total sale prices, since neither the building structure nor the technical installations are in an appropriate ratio to present and future requirements. Initially, do as Robinson Crusoe: a list of positives and negatives for about three preferred properties. The responsible expert will take costs into account and will not "go full" in every individual case but rather look at the whole! ;-) What skills should the expert have? - trained energy consultant - education in construction - education in technical building equipment Many requirements for practically "free"? Hardly possible! Best regards

I do not really want to respond to the person before me. But in one point he is right: 400 thousand for a house from 1976 standing on a "Handtuch" plot of 560 m² is really a lot. Before you spend the money on a junk property, you should definitely get help. Whether the system technology is sufficient is probably not up for debate. The system technology is normally overdimensioned in such buildings because the buildings are not insulated. Be sure to book an expert who will inspect the house for you. A house is not only a heating system but also the general condition of the house. Consulting an expert is usually not that expensive; calculate around €300 for the on-site appointment and consultation plus a report if desired.