Hello everyone, I’m new here. I signed up because I came across this forum during my research and I hope to get some tips and suggestions. There is a house in our neighborhood going up for foreclosure auction. The house is considered ready for demolition, so its value is set quite low. This makes it a potential option for us since it is practically in our dream location.
The plot is on a slope and has a basement, with one side being at ground level. The basement is likely damp or the foundation may no longer be in good condition, so we would plan to completely demolish it and then rebuild the basement in a way that part of it could be used as living space.
What kind of costs should we expect for such a basement if we mainly reuse the existing excavation of the old basement, maybe just slightly enlarging it? Some costs should be lower since less earthwork is needed, right, or am I mistaken?
Thank you in advance 🙂
The plot is on a slope and has a basement, with one side being at ground level. The basement is likely damp or the foundation may no longer be in good condition, so we would plan to completely demolish it and then rebuild the basement in a way that part of it could be used as living space.
What kind of costs should we expect for such a basement if we mainly reuse the existing excavation of the old basement, maybe just slightly enlarging it? Some costs should be lower since less earthwork is needed, right, or am I mistaken?
Thank you in advance 🙂
haydee schrieb:
800 cubic meters of waste material is a lot. At 20 euros, they might be roughly calculating based on the building volume. I also don’t understand how they arrived at that number, especially considering the size of the house you mentioned. Unfortunately, it’s not clear how these 800 cubic meters were determined. I mean, the house has just under 70 square meters (sqm) of floor area in the basement and ground floor, plus a finished attic, a “basement under terrace” of maybe 12 sqm (130 sq ft), and a few concrete slabs (paths), and that’s basically it. The gross floor area is stated as 280 sqm (3,014 sq ft).
How much waste could actually add up from that?!
It can only be that they are referring to the building volume rather than the actual amount of waste to be disposed of, which roughly matches when calculated based on the floor area.
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Finanzcoach25 Jan 2021 15:59So, have you become "smarter" on the topic by now?
Finanzcoach schrieb:
So, have you become any "wiser" on the topic by now?Not really, the whole thing is currently on hold because the property owners' association meetings have been postponed due to COVID-19. Meanwhile, we are continuing to look for plots of land and existing properties.
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Finanzcoach25 Jan 2021 17:21I’m asking because we are currently looking for a property (“newer” existing building) or a plot of land. We have now found a plot in a good location with an old building. The price is negotiable – unfortunately still not “cheap” in the Hamburg metropolitan area. I’m trying to get a sense of what needs to be budgeted here, etc. ... You learn something new with every round. :-)
Finanzcoach schrieb:
I’m asking because we are currently searching for a property (a "newer" existing building) or a plot of land. We have now found a plot in a good location with an older building. The price is negotiable – but unfortunately still not “cheap” in the Hamburg metropolitan area. I’m trying to get a sense of what costs to expect here… You learn something new with every attempt. 🙂Understood 😉 There probably won’t be any progress with the foreclosure (or forced sale) here until at least mid-February. I’ve only heard reports from experience. Is “your” property also a foreclosure or a regular sale?