Hi everyone,
we were in the middle of applying for a plot of land for a new build and had already accepted the cost of about 520,000€ (around $560,000), until last weekend when we viewed a used house in Bergisch Gladbach.
Now we’re wondering if it makes more sense to buy the used house and skip the new build, especially since it’s not even certain that we will get a plot (allocation by lottery).
We were planning a detached house, two full floors, a city villa of about 190 sqm (2,045 sq ft). Gas condensing boiler, controlled mechanical ventilation, underfloor heating — basically the current standard. This would cost around 520,000€ (about $560,000), which would financially commit us for about 35 to 40 years.
The used house is a semi-detached, built in 1970. It has a full basement, two full floors, and a fully converted attic with 4 dormers. The windows were completely replaced in 2000, and the roof fully insulated. The facade was repainted about 10 years ago. The house currently has an oil heating system, but gas is already installed in the heating cellar, so switching to a gas condensing boiler is possible. The exterior walls are 24 cm (9.5 inches) thick masonry without added insulation. Overall, the house is very well maintained, but the interior needs renovation:
- all floors (parquet and tiles)
- all radiators
- gas condensing boiler
- 1 guest toilet, 2 bathrooms (one with bathtub and shower, the other with just a bathtub)
- interior walls painted white throughout; some wood paneling would need repainting and the wooden doors painted white as well.
The house is asking 335,000€ (about $360,000), with a 612 sqm (6,585 sq ft) plot, a garage with sectional door, and an extension. The garden is very well kept, as is the terrace. It’s located in a cul-de-sac, 50 m (160 ft) from the forest, 700 m (0.4 miles) from a kindergarten, and 1 km (0.6 miles) from the S-Bahn station for commuting.
How much would you estimate the cost of the above renovation and upgrades to be?
Is adding insulation combined with controlled ventilation economically worthwhile? How expensive would something like that be?
Finally, would you recommend purchasing the used house given the significant savings, or would you advise against it?
we were in the middle of applying for a plot of land for a new build and had already accepted the cost of about 520,000€ (around $560,000), until last weekend when we viewed a used house in Bergisch Gladbach.
Now we’re wondering if it makes more sense to buy the used house and skip the new build, especially since it’s not even certain that we will get a plot (allocation by lottery).
We were planning a detached house, two full floors, a city villa of about 190 sqm (2,045 sq ft). Gas condensing boiler, controlled mechanical ventilation, underfloor heating — basically the current standard. This would cost around 520,000€ (about $560,000), which would financially commit us for about 35 to 40 years.
The used house is a semi-detached, built in 1970. It has a full basement, two full floors, and a fully converted attic with 4 dormers. The windows were completely replaced in 2000, and the roof fully insulated. The facade was repainted about 10 years ago. The house currently has an oil heating system, but gas is already installed in the heating cellar, so switching to a gas condensing boiler is possible. The exterior walls are 24 cm (9.5 inches) thick masonry without added insulation. Overall, the house is very well maintained, but the interior needs renovation:
- all floors (parquet and tiles)
- all radiators
- gas condensing boiler
- 1 guest toilet, 2 bathrooms (one with bathtub and shower, the other with just a bathtub)
- interior walls painted white throughout; some wood paneling would need repainting and the wooden doors painted white as well.
The house is asking 335,000€ (about $360,000), with a 612 sqm (6,585 sq ft) plot, a garage with sectional door, and an extension. The garden is very well kept, as is the terrace. It’s located in a cul-de-sac, 50 m (160 ft) from the forest, 700 m (0.4 miles) from a kindergarten, and 1 km (0.6 miles) from the S-Bahn station for commuting.
How much would you estimate the cost of the above renovation and upgrades to be?
Is adding insulation combined with controlled ventilation economically worthwhile? How expensive would something like that be?
Finally, would you recommend purchasing the used house given the significant savings, or would you advise against it?
Did you make the estimate on your own? Or have you already consulted an expert who might be able to identify issues that are not immediately obvious? There might be additional points that need to be addressed. However, the biggest advantage would be that the house is already built.
I wouldn’t trust the agent right away… sorry, I like real estate agents and the profession, but not when they’re trying to sell me something.
2. If a house really impresses me and everything is right, I would buy it and take out a larger loan for renovations, doing most of the work before moving in. For example, a guest bathroom can wait; consider whether you can live with the existing tiles.
No new build has the charm of a previously owned property… the garden is already established, the surroundings have matured… you can already feel when walking through whether the space feels right or not. A property from 1990 wouldn’t scare me; ours is from 1978 with an asbestos roof…
2. If a house really impresses me and everything is right, I would buy it and take out a larger loan for renovations, doing most of the work before moving in. For example, a guest bathroom can wait; consider whether you can live with the existing tiles.
No new build has the charm of a previously owned property… the garden is already established, the surroundings have matured… you can already feel when walking through whether the space feels right or not. A property from 1990 wouldn’t scare me; ours is from 1978 with an asbestos roof…
The intermediary is not a real estate agent – he is a good friend of the current owner’s father, who now lives in a care home. The house is being sold privately, was built in 1970, and the roof was replaced and insulated in 2000. We really like the house; a few small interior renovations would help us feel comfortable. For us, the most important factor is the heating costs.
If the house is built with 24 cm (9.5 inches) bricks and has no thermal insulation, I estimate around 3,500 liters (920 gallons) of heating oil per year with energy-conscious use at a living room temperature of 21°C (70°F). That would already mean about 300 €/month (euros) in additional heating costs… obviously, it is not a KfW energy-efficient house.
We plan to use the house for about 30 years. Does it make sense to add insulation? And wouldn’t a mechanical ventilation system with heat recovery be worthwhile? How much should I expect to pay for insulation and a mechanical ventilation system with heat recovery?
If the house is built with 24 cm (9.5 inches) bricks and has no thermal insulation, I estimate around 3,500 liters (920 gallons) of heating oil per year with energy-conscious use at a living room temperature of 21°C (70°F). That would already mean about 300 €/month (euros) in additional heating costs… obviously, it is not a KfW energy-efficient house.
We plan to use the house for about 30 years. Does it make sense to add insulation? And wouldn’t a mechanical ventilation system with heat recovery be worthwhile? How much should I expect to pay for insulation and a mechanical ventilation system with heat recovery?
Of course, I know what the KfW standards are and what proof is required for them. Mechanical ventilation with heat recovery makes sense together with insulation to avoid the building acting like a thermos flask, which can lead to mold due to insufficient active window ventilation.
For me, the question is whether it makes sense to install both insulation and decentralized mechanical ventilation now during the renovation, or if it can wait. I need to review the energy consumption from the past few years.
For me, the question is whether it makes sense to install both insulation and decentralized mechanical ventilation now during the renovation, or if it can wait. I need to review the energy consumption from the past few years.
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