What house costs do the individual points entail?

Hello,

first of all: please don’t get upset, I have a pretty unspecific estimation question. I know it’s not easy to answer, but other opinions are always helpful.

Background:
tomorrow we are meeting with the seller of our future house to negotiate the price.
The asking price was set at 329,000 euros. He said right from the start that he is willing to negotiate.
As a basis for argument, we would like to create a list of upcoming renovation measures with respective cost estimates.

Our appraiser recommended the following renovations:

- new heating system within 2 years is a MUST (the current gas heating is very inefficient). We were recommended a gas heating system with the option to retrofit a solar thermal system with buffer storage.
- new roof covering (no urgent defects, but it is 33 years old). It is a regular gable roof without dormers. Unfortunately no idea how many m²...
- parquet floors in living and sleeping rooms still OK, but sanding and refinishing should be planned (approx. 70 m² total).
- new windows (the old ones are still OK, but 33-year-old wooden windows, double glazed). There are a total of 5 single windows, 4 double windows, and 4 glass doors.

There is no time to obtain offers/cost estimates now, so for now rough estimates have to suffice.

What costs would you assign to the individual points?
And what price reduction would you then suggest/expect?

Thanks in advance for your help.

It will not work if you believe that investments that turn a used property into a like-new house can be charged to the owner by offsetting these investments against the selling price. If you buy a 33-year-old house, the price will reflect that. Meaning: uneconomical heating, but it works. Old roof, but it functions. The owner receives the value of the house, everything else is your burden. Has the seller had their house appraised? Do you know the appraisal? Does the house fit the market price? How do comparable properties look, and: how long has the house been on the market? The longer, the better your negotiation chances. Normally, a 10% negotiation margin is calculated so that you meet somewhere in the middle. Regards Yvonne

Hello Yvonne,

of course I don’t assume that the seller will cover the costs for the upcoming measures. I just want to prepare for the negotiation and state what the expert "criticized." It is certainly a basis and I think every negotiation proceeds individually, so why shouldn’t we try? What plays into our hands: - the seller mentioned straight away that he is willing to negotiate - the agent set the price, it’s possible that he intended to sell well below the current asking price - he would rather sell yesterday than today - there is no appraisal report, which also raises hopes for bigger leaps - the gentleman is of an older generation and wealthy, he doesn’t seem to care about every cent - the price is market-appropriate, but the house has been on the market for a while. The house is great, but the location is not very sought after, which I think is the reason.

Furthermore, it would of course also be interesting for us personally to know what costs we still might face in the near future before signing. We obviously have a ballpark figure in mind, but your assessments would be interesting.

For these reasons, I would appreciate a rough cost estimate.

Regards Schnie

new heating system within 2 years a MUST

For a single-family house with a total of 10 rooms (including kitchen/bathroom) and about 180 m² of living space, I have an offer for a gas condensing boiler heating system for just under 13,000 euros. Maybe that helps you ...

For the roofing, I would estimate > 50,000 euros, but without details, that will be difficult ...

In general, I find pricing for existing houses not so easy ;-). How did your meeting turn out?

ok, you can add up a total price from individual items - but 1/4 of the new price (maybe only 1/5) just for the roof? Oops...