Hello,
My wife and I are planning to buy a house built around 1950. The land price in the area is about 70 euros per square meter. The house itself has 120 sqm (1290 sq ft) of living space across two levels. It stands on a 1600 sqm (0.4 acres) plot and is available for 120,000 euros.
Everything with the bank is settled, and the financing is secured. The renovation will be paid from our savings, and we have 35,000 euros available.
We already have the bathroom, kitchen, and other furniture, so they do not need to be included in the budget.
The biggest issue with the house is the lack of central heating. After much consideration, we have decided we do not want an oil or gas heating system. My wife is afraid of gas, and oil heating is out of the question for us for environmental reasons.
Since we have a relative who is a farmer with a large forested property and would provide firewood almost for free (I would only need to help him with forestry work), we would like to install a wood-burning masonry stove with a water heat exchanger and retrofit underfloor heating in two bedrooms and the bathroom.
The windows will probably need to be replaced as the first renovation step. There are a total of 10 windows and 2 patio doors.
For the initial period, we are planning to live only on the lower floor and gradually renovate the second floor. We have been advised against external wall insulation due to the risk of mold if we cover the walls with insulation panels. (However, we are complete beginners in this field.)
The question is, how realistic is it to accomplish the following with 35,000 euros:
- One wood-burning masonry stove with water heat exchanger plus buffer tank
- Approximately 40 sqm (430 sq ft) of underfloor heating
- Replacement of windows
- Renovation of floors
Thank you very much,
Stephan
My wife and I are planning to buy a house built around 1950. The land price in the area is about 70 euros per square meter. The house itself has 120 sqm (1290 sq ft) of living space across two levels. It stands on a 1600 sqm (0.4 acres) plot and is available for 120,000 euros.
Everything with the bank is settled, and the financing is secured. The renovation will be paid from our savings, and we have 35,000 euros available.
We already have the bathroom, kitchen, and other furniture, so they do not need to be included in the budget.
The biggest issue with the house is the lack of central heating. After much consideration, we have decided we do not want an oil or gas heating system. My wife is afraid of gas, and oil heating is out of the question for us for environmental reasons.
Since we have a relative who is a farmer with a large forested property and would provide firewood almost for free (I would only need to help him with forestry work), we would like to install a wood-burning masonry stove with a water heat exchanger and retrofit underfloor heating in two bedrooms and the bathroom.
The windows will probably need to be replaced as the first renovation step. There are a total of 10 windows and 2 patio doors.
For the initial period, we are planning to live only on the lower floor and gradually renovate the second floor. We have been advised against external wall insulation due to the risk of mold if we cover the walls with insulation panels. (However, we are complete beginners in this field.)
The question is, how realistic is it to accomplish the following with 35,000 euros:
- One wood-burning masonry stove with water heat exchanger plus buffer tank
- Approximately 40 sqm (430 sq ft) of underfloor heating
- Replacement of windows
- Renovation of floors
Thank you very much,
Stephan
N
nightdancer19 Feb 2017 20:59Before I would buy the house, I would visit it with a building expert. Problem areas to check are the basement, roof and roof structure, plumbing, electrical system, heating, windows, and any environmental hazards. From what I understand, you are buying at the land price and the house is completely dilapidated/ready for demolition. To put it briefly, $35,000 will never be enough.
Glumas schrieb:
The house is situated on a 1600 sqm (about 17,200 sq ft) plot and is available for 120,000 €.
Everything with the bank is settled; the financing is secured.
The renovation would be paid from our savings, and we have 35,000 € available.Am I correct in assuming that the bank is also the seller or the real estate agent in this offer?
The financing mix also makes me ask the uncomfortable question: "What does your tax advisor do for a living?" ;-)
Glumas schrieb:
My wife is afraid of gas.But is gas afraid of your wife? … Try googling "mandatory connection" (varies by municipality).
Glumas schrieb:
We were advised against external wall insulation because there might be a risk of mold if we cover the wall with insulation boards. (But we are both absolute beginners in this field)Haha, even the adhesive used for those boards is also a building physics novice.
A building is rarely lacking in just one area. "No central heating" - I don't even want to imagine the electrical wiring and pipes. Back in 1950, construction standards were quite basic; 24 cm (about 9.5 inches) thick external walls, non-load-bearing interior walls made of plasterboard lath, and similar details wouldn’t surprise me. Fireplaces that still served coal stoves. Are there already roller shutter boxes? – and what condition might the roof be in…
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
We have already viewed the house. The problem is that I am a layperson. An expert was present but did not seem to conduct a very thorough inspection from my perspective.
Conclusion: The roof appears to be in reasonable condition. However, it is completely uninsulated, and the tiles are visible from the attic. The expert said it should be addressed eventually but would likely hold up for the next few years since the beams are undamaged and the roof is watertight.
The electrical system still uses a neutral earthing system and does not have a residual current device (RCD). Apparently, this could be left as is.
The basement and the rest of the house are dry, with no mold or similar issues.
According to the information provided, the following would need to be done: heating, floors, and windows.
Conclusion: The roof appears to be in reasonable condition. However, it is completely uninsulated, and the tiles are visible from the attic. The expert said it should be addressed eventually but would likely hold up for the next few years since the beams are undamaged and the roof is watertight.
The electrical system still uses a neutral earthing system and does not have a residual current device (RCD). Apparently, this could be left as is.
The basement and the rest of the house are dry, with no mold or similar issues.
According to the information provided, the following would need to be done: heating, floors, and windows.
Glumas schrieb:
According to the information, the heating, floors, and windows would need to be done. It may be true that for the vehicle inspection (TÜV) “only” the sills need to be welded, and you can keep the fogged rear window if you don’t care how it looks, but the rust spots around the trunk lock will be more expensive to fix than you think. In winter, you’ll definitely miss the auxiliary heater, and the seat bolsters—no way...
To the untrained eye, the house might “only” be missing the catalytic converter, and if the sunroof is stuck, well, then it just stays closed. I’d say: if you’ve ever been to a video rental store, you know “free is still too expensive” ;-)
Where there’s no crowd of bidders despite an apparent bargain, there’s a reason. Have you discreetly asked around how many otherwise fearless buyers from Poland have already viewed the house and walked away?
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
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