ᐅ Estimating Renovation Costs

Since you are only doing cosmetic renovations (except for the electrical work), your cost estimate should be feasible, possibly even lower if you can or want to install the hardwood flooring and tiles yourself.

For comparison: Renovation of a condominium with 70 square meters (750 square feet) of living space (complete new electrical system with a new panel, approximately 70 outlets, multiple satellite connections, LAN in every room, Gira Event system + new triple-glazed windows/balcony door + new interior doors painted white with a magnetic latch lock + 64 square meters (690 square feet) of oak plank flooring + the rest tiled + fully renovated bathroom with high-quality tiles, sanitary fixtures, and shower + walls leveled, covered with painter’s fleece, and painted + suspended ceiling in the hallway with recessed spotlights) costs about 13,000 euros. Only the electrical work is done by a professional; the rest is self-performed.

nordanney schrieb:
Since you are “only” renovating the appearance (excluding electrical work), your cost estimate should be feasible, possibly even lower if you can or want to install the hardwood flooring/tiles yourself.

An older building is unpredictable! The worst-case scenario must also be taken into account!

Best regards, Bauexperte

And the worst case is taken into account by estimating double?

veilside schrieb:
and do you account for the worst case by simply doubling the estimate?

I deliberately mentioned EUR 80,000 and included a buffer of EUR 20,000 for unforeseen costs. Basically, I agree with Will and his figures ... if your description of the current situation is accurate and the services are contracted accordingly. By the way, you should check with your utility provider whether you are even allowed to do the electrical work yourself. Not every provider allows this kind of self-performed work unless, of course, you are registered.

You have no idea what might actually come up and expect us—who know the described house "only" from your words—to give you a price estimate. What exactly do you expect? That I say, for example, "dear TE, all of this is nonsense, it will only cost you EUR 10,000"? Or "dear TE, of course you are right and it will *only* cost EUR 40,000"?

Find an expert or architect specializing in existing properties; then you will get accurate figures for the renovation. For now, I’ll stick to my number—we currently live in an old building and are renovating two houses, so I know very well what renovators financially have to prepare for ... and what surprises might be around the corner.

Regards, Bauexperte

I would agree with Bauexperte and wpic. This estimate is roughly accurate without any surprises!

I also recommend carefully considering whether you might want to remove a wall, add a window here or there, or make similar changes. This usually costs "just" a bit more but can make an older building much more welcoming.

I assume that simply rewiring, some plastering, and painting won’t be enough. For a renovation, I would also include the kitchen as a cost factor.

You probably need to renovate the bathroom as well, right? It’s easy to spend €10,000 (approx. $11,000) or more there.

I think we have gone way too deep into the topic. Originally, I just wanted to know if there is a general price guideline for renovating individual items. For example, 1sqm (11 sq ft) of new parquet flooring €50, 1sqm (11 sq ft) plastering plus painting €70, 1 door with frame €300, and so on.

I was not looking for an assessment of what or where hidden defects might still be present in the property.