ᐅ Renovation of an Existing Property in the Lower Rhine Region

Created on: 5 Jun 2020 19:18

After spending the last three to four years mostly answering questions rather than asking them here in the forum, I want to introduce my new project today.
I will be giving up my current condominium and have chosen a house as an existing property that I simply couldn’t say no to. This will be only my fourth property in 8 years…
The house (and garden) finally offers enough space for my kids.

Location: Lower Rhine region, within a 20-35 minute drive of Düsseldorf / Ruhr area
Plot size: approx. 1,100 sq m (11,840 sq ft)
Year built: 1966 (roof is relatively new, extension from the 1980s)
Two-family house, ground floor for me, upper floor rented long-term (living space: ground floor 120 sq m (1,290 sq ft), upper floor 80 sq m (860 sq ft), basement 120 sq m (1,290 sq ft), 2 garages + 2 parking spaces)
What do I plan to do? Starting in August, the ground floor apartment will undergo extensive renovations for about 12 months (underfloor heating + heat pump, open kitchen to living area, new bathroom + WC, complete rewiring, photovoltaic system, possibly new plumbing installation, insulation of cold roof’s top ceiling, basement ceiling insulation, installation of perimeter insulation + external thermal insulation composite system, new flooring after screed removal and underfloor heating installation, replace old open fireplace with a more modern one, lay wooden terrace, replace windows + some minor tasks). The upper floor apartment will initially remain untouched as it is in good condition. The oil heating will continue to serve this apartment.

Since I will be doing a lot of the work myself, I will definitely have new questions about possible solutions in the future. I’m already looking forward to it.

Finally, here are some pictures:

Exterior view of a two-story brick house with dark tile roof, window front and front garden

Two-story brick house with gray roof, large windows and green garden.

Floor plan of a house: terrace with furniture, garden, garage with car, workshop, living, dining, kitchen

Floor plan of an apartment: bedroom, bathroom, kitchen, hall, lounge, living, dining

PyneBite6 Jun 2020 08:35

nordanney schrieb:

I feel most sorry about the strip parquet flooring, which unfortunately has to be removed for the underfloor heating.

Is it not possible to reinstall the parquet afterwards? Are there perhaps any specialists for that?

nordanney6 Jun 2020 09:24

PyneBite schrieb:

Isn’t it possible to re-lay the parquet afterwards? Are there possibly specialists for that?

No idea. But I’m afraid it would become quite expensive. After all, the adhesive had over 50 years to form a probably irreversible bond with the wood. If anything, a specialist would probably have to lift the parquet, clean it, and then re-lay it.
It will be easier (and cheaper) if I just knock it out during the strip-out and then install new solid wood floorboards.

DaSch176 Jun 2020 09:35

Very nice little house with real potential! I’m really curious to see what you’ll make of it...

nordanney schrieb:

I’m planning to sell my current condominium

Why don’t you rent out the condo?

nordanney schrieb:

The kids will get their own space in the fireplace room or the room below it. The extension is actually two stories (downwards), so they won’t disturb anyone and still have a nice view of the greenery below.

Do you also have a floor plan of the finished basement?

nordanney6 Jun 2020 09:43

#10

DaSch17 schrieb:

Why don’t you rent out the condominium?

A pretty simple reason. I’ve been offered a price for the condo that is just too attractive (about 75% higher than what I paid, including renovation, four years ago). The cash flow feels really good. For that, I also receive rent from the leased apartment upstairs. I can increase that rent by 20% three to four times over the next few years.

DaSch17 schrieb:

Do you also have a floor plan of the living basement?

Floor plan of basement level: garage with car, two cellar rooms, boiler room, oil tank, laundry, hallway, office.

DaSch176 Jun 2020 16:48

#11

nordanney schrieb:

Quite a straightforward reason. I’m getting an offer for the condominium that’s simply too attractive (about 75% more than what I paid including renovations four years ago). The liquidity feels really good . Plus, I also receive rent from the rented apartment on the upper floor. I can increase that rent by 20% about 3-4 times over the next few years.

Wow. These really are crazy times. I guess we would have sold too

It’s the opposite for us. We bought three years ago for 213,000 EUR and could now sell at best for 250,000 EUR. Achievable net cold rent (NKM) is between 850 and 900 EUR per month.

That’s why we decided to keep the condominium and rent it out in the future.

But the second kids’ bedroom in the basement apartment can only be accessed via the stairs through the ground floor kids’ room, right? How do you plan to solve that?

nordanney6 Jun 2020 18:10

#12

DaSch17 schrieb:

But the second children’s bedroom in the basement is only accessible via the stairs in the ground floor children’s room, right? How do you plan to solve that?

I’m not solving that at all. The children’s room on the ground floor will remain the only bedroom for the three kids. Of course, they will also spread out upstairs in the fireplace room, which is fine.
It’s worth mentioning that I’m a part-time father, so having three bedrooms permanently reserved doesn’t make sense. I also think they’ll often camp outside in the summer (the house is located in a quiet, more rural neighborhood with an unobstructed view from the terrace over fields).
With this layout, they have their own separate area and can even have a girls’ party without me getting disturbed (party in the fireplace room, sleep downstairs). There is also another exit to the terrace from the kitchen/dining area.

ᐅ Renovation of an Existing Property in the Lower Rhine Region

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