What is cheaper: demolition or core renovation?

I have experienced that people still want around €40k + land even for demolition properties – which is of course always annoying (as the demolition also costs money). Personally, I would do a complete renovation if I like the appearance/type of the building (or if it's necessary). A settlement house from the 1950s with low ceiling heights, questionable condition, and a damp basement rather than an Art Nouveau villa with a vaulted cellar, 2.8 m ceiling height, flooring that can be preserved, etc. I believe it is important not to assume that you can save a lot of money on a complete renovation because everything is already there.

I would also demolish a rundown property. But beware of contaminated sites, as disposal can turn out to be a nasty surprise. I would definitely renovate a decent old building that is not TOO old, and it would certainly be much cheaper than building a new one. Especially since there are very low-interest loans available for renovations. On the other hand, you cannot get a new building for less than a certain minimum amount.

The purchase of a property ready for demolition can make sense if the plot of land is attractive and no suitable, building-ready plot is available in the region. The purchase price should then be based on the land value minus the demolition costs. Before deciding to buy, the building and planning law situation of the plot should be carefully examined to exclude any later restrictions for a new construction project and property encumbrances for you as the new owner.

A renovation only makes sense for an old building with a good basic structure. Strengthening a dilapidated old building, bringing it up to a contemporary energy standard (building insulation), sustainably eliminating building damage/moisture issues, and adapting it to your own residential ideas through conversions or expansions is generally significantly more expensive than a new building of comparable size. Such a renovation is complex and cannot be carried out without an independent and comprehensive renovation plan that considers the entire building.

More details can be provided during an on-site consultation before the purchase.