Substance assessment of half-timbered structures from the late 19th century, how to proceed?

Did the original poster mention anything about monument protection? Then I would agree with your statement. Otherwise, it might also depend on what you value. Apparently, I have a pretty messed-up taste, because when I find a house "beautiful," it is almost always at least 100 years old. If you primarily want "a lot of living space for little money," building new is often cheaper than renovating. I find "cheap renovation" very problematic; it often doesn’t lead to satisfaction.