Hello everyone, I have already found some interesting things here in the forum and hope that you can also help me with my own question: My wife and I have "inherited" my parents' house (my parents moved out, they are not deceased). After my parents moved out, it was rented for a few years, the tenants will move out soon and we (currently tenants) want to have our own home. So far, so good, everything is settled within the family. But we are unsure whether it is worth renovating the house or if we should rather tear it down and build a new one in its place.
Something to always consider is the ecological advantage of renovating. I see only advantages for renovating here: the floor plan fits, the structure is good, you know the house. Significantly reduced costs for the outdoor facilities. It doesn't get better than that. If almost everything is actually from 1973, I would do a major overhaul and do a full renovation. So everything new inside and outside, only leaving the walls that are still needed. If the heating is not too old, you can continue to use it (what kind is it?). Have the house connections checked and renewed if necessary. Otherwise, with that year of construction, I wouldn’t leave anything and would rather do everything now instead of being annoyed about crumbling plaster in 10 years. There are things you don't do anymore once you live inside. I don’t know your house. But 270,000€ also seems too much to me if you don’t have particularly extravagant taste. On the other hand, you will always find a way to spend your money if you want to. I’m thinking more like 150,000-200,000€ if you don’t have to save. But as I said, better to plan more and be happy later if there is some left over. Since no one here knows your wishes and the house, but the architect does, who knows, maybe you do need more after all. The value of a house is often determined primarily by the location. More than by the age. A fancy new building for 400,000€ will bring little money in resale if it is in the middle of nowhere, and a wreck is still solid investment ("Betongold") in Munich.