ᐅ Estimating Renovation Costs

Hello everyone,

I’m interested in a terraced house from 1962 with about 110m² (1,184 sq ft) of living space and am seriously considering starting negotiations with the seller. Before that, I would like to roughly estimate the renovation costs.

The roof is finished and watertight. The basement is completely dry. The seller provided me with information about when the roof, water pipes, heating system (gas boiler), etc., were renewed (unfortunately, I don’t have my notes with me right now). However, I cannot estimate when the gas boiler will need to be replaced or when the roof will require refurbishment again. Is there a general guideline or approximate schedule for estimating this?

Additionally, the interior of the house is from the 1960s…

• Wood panels on the ceilings
• Fully tiled floors
• Brown doors
• Guest toilet tiled in green
• And the electrical wiring from 1964...

Accordingly, we want to completely renovate the interior:

• Rewiring the electrical system (I will probably do the wiring myself, so only material costs apply)
• The water pipe to the kitchen (ground floor) is still made of lead (all others are plastic)
• Replacing door leaves and frames
• Completely renovating the guest toilet (approx. 5m² (54 sq ft))
• Removing the floor tiles and replacing them with parquet flooring
• Removing the wood panels from the ceilings and smoothing the plaster

How can I create a cost estimate for this? Are there any reference prices available? I don’t want to call around to various companies right now, as the usual response is “we need to have a look first.”

Get a building surveyor and calmly go through the property with them. Then have them prepare a renovation plan. This way, you will have a solid basis to work from.

It is generally difficult to say. We had a cost estimate from architects of €150,000 - €200,000 for a 1957 suburban house with 130 sqm (as a reference). However, this included insulation (which seems to be missing in your case) and basement renovation (€20,000). Without knowing anything specific, I would roughly suggest €120,000 - €150,000 for your situation...

Hello,

veilside schrieb:

How do I create a cost estimate for this? Are there any guideline prices available? I don’t want to call all the companies now and ask, since they always say "we need to take a look"...

I would have answered you the same way with "we need to take a look" – how else do you expect to get reliable figures?

I strongly recommend that before you enter into further negotiations with the seller, you have an expert inspect the property. What looks "decent" to you might actually be well-hidden damage. This wouldn’t be the first or the last time; I have even seen mold covered over with paint. So be cautious!

This expert will not only give you a recommendation on whether to buy or not but also provide you with a rough cost estimate.

Roughly, and if no more major repairs are needed, you should expect around 80,000 euros (about 80,000 US dollars).

Regards, Bauexperte

Without an on-site inspection, it is not possible to provide a qualified assessment of the condition and the renovation effort required. I definitely recommend arranging a property survey with a building expert (architect/structural engineer), also as part of a property purchase consultation, and to obtain an initial rough estimate of the renovation and modernization costs. Ideally, the property should be an unrestored old building without any makeshift self-done work, which is often advertised by agents or owners as a "core renovation." For renewing the building services, bathroom remodeling, and general modernization, at least €50,000-60,000 (around $54,000-65,000) should be budgeted. For a complete energy-efficient renovation, which is certainly advisable, an additional approximately €50,000-60,000 (around $54,000-65,000) should be planned.

Oh, okay, I probably didn’t express myself very clearly. The major and most expensive components, such as the roof, water pipes, heating system, and windows, were all renewed relatively recently, around 5 to 10 years ago. The roof was extensively renovated around 2006, the windows were replaced with double glazing in 2011, and the lead water pipes were replaced with plastic pipes in 2006. Except for the water pipe to the kitchen, which is still lead, but that shouldn’t be a big issue since it’s on the ground floor above the gas boiler.

So these points would be excluded, and we would only carry out the work I listed second in the original post. My cost estimate was more in the range of €30,000 to €40,000.