Solid foundation or bottomless barrel? Assessment of single-family house 1978

Renovations like the roof, for example, do not all have to be done at once (The roof will still last for a very long time). The exterior facade doesn't have to be done all at once either.

You simply can't get such plots anymore nowadays with new housing developments. It really looks unique.

The alternative could be to demolish the house or to live like this for a few more years and then eventually demolish and rebuild when there is enough money.

We bought a house from 1950 in a unique location (for a high price that many here said made no sense at all) and are renovating it bit by bit.
In 10 years we will have a house that is still old but can almost compete with a new build.

We bought a model house that was built in the 1970s. Our decision was made after we talked with the neighbors for a long time and were able to see the same house freshly renovated at their place. There we were able to learn about all the problems, but also all the really good aspects of the structure. In this respect, I can only recommend talking to the owners of the already renovated houses.

Just visually, I find the house and of course the plot very charming.. What would bother me.. there is no direct access to the garden/terrace from the main apartment.. or is there? I definitely go in and out 20..30 times a day.. the garden is like another room.

That's true, good point. That's not optimal and we've already discussed it. One option would be a staircase from the balcony down.

Roughly speaking: building 164 sqm of living space new at 3000 € per sqm would be = 492 K EUR.
In a cost approach, one would probably assume a useful life between 70 and 80 years - I'll continue with 75 years.
Of that time, 46 years have already passed. The residual value would therefore be 29/75 * 492 = 190 K EUR

So at first glance, it seems fairly priced.

What is certainly quite practical: if this house exists 39 more times in the immediate vicinity - you will surely find a potential future neighbor who can provide you with some information about the renovations carried out upon friendly inquiry? If you approach very kindly and politely, I can't imagine that no one would be willing to share.
Good luck and best regards

Thanks for the feedback. The calculation of the residual value is indeed an interesting approach and helpful for a first assessment.

Actually, we spoke with neighbors over the weekend who told us quite openly about the advantages but also some disadvantages of the building fabric. So now we already know exactly where we need to look during the second appointment with the appraiser.

For holiday areas, I would definitely check whether permanent habitation is even allowed. We've had several threads here where people bought a pretty expensive holiday home and then had to realize that they were not allowed to become permanent residents there....

That will definitely go on our list of questions, thanks. But it shouldn't be a problem here anymore, as it's no longer a holiday area.

The heating is just the tip of the iceberg. I guess, from personal experience, what else would come up:
Roof
Insulation
Demolition and disposal
Electrical system
Sanitary facilities
Windows
Floor coverings
Possibly doors
Paint the facade
Painting
Sewage connection?
Possibly mold or pests?
Really nasty would be:
Dampness in the walls, basement

Nothing has happened yet regarding possible floor plan adjustments or, for example, a new kitchen.

Is the view worth it?

That's definitely true. We have to consider all the points you mentioned in our calculations.
The appraiser can probably already give us a good overview here.
And then we have to weigh costs against the view.

Renovations like the roof don't all have to be done at once (the roof will last a very long time still). The exterior facade neither.

You just don't get plots like this nowadays in new development areas. It already looks unique.

The alternative could be to demolish the house or live in it for a few more years and then eventually demolish and build new when there's enough money.

We bought a house from 1950 in a unique location (for a high price that many said made no sense at all) and are renovating it bit by bit.
In 10 years, we will have a house that is still old but can almost keep up with a new build.

We have already seen your post about house buying - definitely very interesting!

That's exactly where we are right now. With such a renovation effort, we have to set priorities and can't implement everything at once... The only question is what we can still do without for now and what also makes sense during the renovation process.

Complete demolition is of course also an option. However, similar houses in the neighborhood have been renovated rather than demolished in recent years - so the existing building fabric probably isn't a complete disaster.

We bought a type house that was built in the 1970s.
For us, the decision came after long talks with the neighbors and the chance to see the same house freshly renovated at their place. There we were able to find out about all problems but also all really good aspects of the fabric.
Therefore, I can only recommend talking to the owners of the already renovated houses.

The recommendation is really great and we implemented it immediately. The neighbors were very nice and helpful.
Another advantage: this way you also get to know potential neighbors right away.

I don't know if you have bought in the meantime. But I wanted to point out: your financial calculation sounds really very, very solid. Even if many negative surprises happen - it would be annoying, but you could easily cope with it. Both more use of equity and a higher rate won't kill you.

We started, maybe somewhat naively, with very very similar key data. In the end, we used 200k more equity (among other things, we just replaced the roof, so what? Such a project drags on a bit anyway, by then you get some money from depot gains again, usually salary increases happen again during that time. And the savings then grow again afterwards. Most of my acquaintances have calculated much more riskily and also survived it.

I can't contribute anything about the substance of the property, but I join the supporters here: it looks cozy, and such a large plot with such vegetation is rare. When you build new, you look at young cherry laurel shoots for the first 10 years. Trees, as seen in the photos, easily take 40 years to look like that. In my opinion, that at least partly compensates for low ceiling heights and non-floor-to-ceiling windows.