ᐅ Older building or new construction?

Zimtstern27 schrieb:

I would never build new for 700k!! I do not want to take on that kind of debt.

However, that is currently the cost for a newer semi-detached house, with about 40m² (430 sq ft) more living space than yours, in the greater Nuremberg area. If you buy an existing property for 450,000 to 500,000 (450k to 500k), you will usually have to invest a six-figure sum sooner or later. Including additional costs, you end up in the same price range anyway. And the garden is not larger, rather the opposite.

Scout schrieb:

These are currently the costs for a newer semi-detached house, with about 40 square meters (430 square feet) more living space than yours, in the greater Nuremberg area. If you buy a resale property for 450,000 EUR, you can usually invest another six-figure sum sooner or later. Including additional costs, you end up in a similar price range. And the garden is not larger, rather the opposite.

Joedreck schrieb:

Completely renovate the place and then see.

Even if it only cost 100,000 EUR... We would have to live on a construction site for at least one year now (assuming we could get tradespeople immediately)...
+
I don’t think anyone would add 100,000 EUR to the value of the property after renovation...
Who knows if we would even get back what we’ve already spent—30,000 EUR—plus possibly 100,000 EUR in renovation costs...
...

Scout schrieb:

These are currently the costs for a newer semi-detached house with about 40 square meters (430 square feet) more living space than yours, located in the greater Nuremberg area. If you buy an existing property for 450,000 to 500,000 euros, you will usually need to invest another six-figure amount sooner or later. Including additional costs, you end up in the same price range. And the garden is not larger—if anything, it’s smaller.

Yes, but half of our garden area is covered with dilapidated sheds. At most, we have about 90 square meters (970 square feet) of garden left. We would also have to pay for the demolition work.

Zimtstern27 schrieb:

Yes, but half of our garden area is filled with dilapidated sheds. At best, we might have about 90sqm (970 sq ft) of garden left. We would also have to pay for the demolition work.

You can tear down garden sheds yourself, right? Then just rent a container for a few hundred euros and that’s it…

Zimtstern27 schrieb:

I don’t think anyone would value the house at 100K more after renovation...
Who knows if we’d even get back what we’ve already invested—30K plus maybe 100K renovation costs...

You inherited the house, so you don’t just get the 30K you’ve put in, but according to your information, around 300K on top of that!
That sounds quite ungrateful from what you’re writing here (even though you’ve said the opposite before). And it doesn’t exactly sound like you shy away from work (you mentioned that somewhere).

I think you don’t want to hear what everyone is telling you—that right now, a new build isn’t an option for you. You don’t respond to questions and have firmly decided in your mind: I MUST BUILD NEW!
You’re not happy with your current house, don’t want to invest any more time or money because you don’t like it anyway... you’ve developed a really negative mindset (to put it bluntly in modern terms, because I can’t find a better phrase).

Believe me, I understand the frustration of inadequate housing—we’re looking ourselves… around here, rundown places that you’d have to put another 100K into don’t even start below 600K. So owning property is not an option for us right now, and it’s exhausting, disappointing, frustrating and infuriating, but that doesn’t help.

At least you’re putting your money into your own property—try to see it that way. A renovation is definitely not in vain!

Tamstar schrieb:


You can tear down garden sheds yourself, right? Then just rent a dumpster for a few hundred euros, and that's that...

You inherited the house, so you’re not only getting back the 30K you invested, but according to your own figures, about 300K on top!
That sounds pretty ungrateful from how you write here (even though you claimed the opposite before). And it doesn't seem like you really shy away from work (you said that somewhere, too).

I think you don’t want to hear that everyone is telling you now is not the time for new construction. You’re not responding to questions and have it fixed in your mind: I MUST BUILD NEW!
You don’t like your current house, don’t want to put (more) money and effort into it because you won’t like it either way... you have developed a really negative mindset (to put it bluntly, since I can’t think of a better term).

Believe me, I understand the frustration of inadequate housing—we’re searching ourselves... around here, rundown places that need another 100K put into them only start at 600K. That’s why owning a home right now isn’t an option for us, and it’s exhausting, disappointing, frustrating, and infuriating—but that’s not helping.

At least you’re investing your money into your own property. Try to see it that way. Renovating isn’t a waste!

No, that’s really not the case... When I see others around me who don’t even paint the walls in their new homes, I see us two quite differently...

And yes, we are a bit frustrated, but we definitely won’t make any rash decisions...

Zimtstern27 schrieb:

Even if it only cost 100k... We would still have to live on a construction site for at least 1 year if we could get tradespeople immediately...

A good carpentry company can build your roof structure within 3 weeks, and the interior finishing and bathroom would take another 3 months. During that time, you’d need to stay in a vacation rental, which you can mentally count as part of your construction costs—about 5000 euros.

Zimtstern27 schrieb:

I don’t believe anyone would add 100k to the value of the house after the renovation...

Of course. You’re saying yourself that similar semi-detached houses like yours sold for 400k euros, unrenovated, on smaller plots. Right now, you’re estimating 300k euros for yours.

Go to an architect or general contractor and tell them you want to add a floor, and give them your budget for it. Deduct 5k euros for the vacation rental and 10k euros for demolishing the garden (which Pawlow could probably do from the classifieds) and re-landscaping beforehand.

Post your floor plans here—there are plenty of people in this forum who can roughly calculate your budget for you.