ᐅ Building, Buying, or Renovating? – What Makes the Most Sense When You Want a Modern Home?
Created on: 8 Aug 2021 17:13
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PeterPan1986P
PeterPan19868 Aug 2021 17:13Hello dear forum community,
after my partner and I have been intensively working on our homebuilding project since January, we have now reached a point where we rely on your detailed experiences.
We currently live affordably in the Eifel region and are increasing our equity in line with our plans. With a budget of 500-550k euros, we want to own a modern single-family house for the future.
Unfortunately, the search for a house/plot is proving to be (unsurprisingly) difficult. Our preferences would be a well-maintained house in a neat neighborhood with houses built from 1980 onwards (or correspondingly modernized). A rural setting with existing infrastructure is also important to us, as we value that our children can later get around by bike.
Unfortunately, the waiting lists for the corresponding new development areas are long, although we have a promising position in our hometown. As an alternative to new construction, we could imagine buying a house, but unfortunately, the properties we have considered (from the 1990s onward) are exorbitantly expensive and not modernized—or in a poor location. Occasionally, we come across houses built in the 1970s that would require extensive modernization to meet our expectations.
This raises several questions for us:
1. Assuming we buy a house from the 1970s and bring it up to the latest technical standards, the construction year does not change. What disadvantages arise from this regarding durability, etc.?
2. Who among you has experience with such a project and would be willing to share it here? Was it worth it? Would you do it again? What are, in your opinion, the pros and cons?
3. We place importance on energy efficiency and modern heating technology (preferably air-to-air or air-to-water heat pumps including a photovoltaic system). Is this feasible within a renovation and a normal cost framework?
Thank you in advance for your experiences and answers.
Have a nice Sunday!
after my partner and I have been intensively working on our homebuilding project since January, we have now reached a point where we rely on your detailed experiences.
We currently live affordably in the Eifel region and are increasing our equity in line with our plans. With a budget of 500-550k euros, we want to own a modern single-family house for the future.
Unfortunately, the search for a house/plot is proving to be (unsurprisingly) difficult. Our preferences would be a well-maintained house in a neat neighborhood with houses built from 1980 onwards (or correspondingly modernized). A rural setting with existing infrastructure is also important to us, as we value that our children can later get around by bike.
Unfortunately, the waiting lists for the corresponding new development areas are long, although we have a promising position in our hometown. As an alternative to new construction, we could imagine buying a house, but unfortunately, the properties we have considered (from the 1990s onward) are exorbitantly expensive and not modernized—or in a poor location. Occasionally, we come across houses built in the 1970s that would require extensive modernization to meet our expectations.
This raises several questions for us:
1. Assuming we buy a house from the 1970s and bring it up to the latest technical standards, the construction year does not change. What disadvantages arise from this regarding durability, etc.?
2. Who among you has experience with such a project and would be willing to share it here? Was it worth it? Would you do it again? What are, in your opinion, the pros and cons?
3. We place importance on energy efficiency and modern heating technology (preferably air-to-air or air-to-water heat pumps including a photovoltaic system). Is this feasible within a renovation and a normal cost framework?
Thank you in advance for your experiences and answers.
Have a nice Sunday!
Hello 🙂
We are currently renovating a house from the 1980s (and are still quite early in the process), so it’s not directly comparable.
1. I can’t say much about that, as the building structure is probably different from ours. But I wouldn’t see why a house from the 1970s wouldn’t be durable if it has been renovated.
3. We are planning an extensive energy-efficient renovation following the KfW program. I’m not sure what you mean by a "normal cost approach," but I would not expect that right now. Everything is expensive at the moment, and waiting times are long. KfW funding also means that a certified specialist company has to carry out the work. For us, this means doing more by ourselves where the funding doesn’t apply anyway.
If high-quality homes are extremely expensive, then new construction or renovation of an older building will also be costly.
The question will be what you can afford, and only then come the requirements. :-(
We are currently renovating a house from the 1980s (and are still quite early in the process), so it’s not directly comparable.
1. I can’t say much about that, as the building structure is probably different from ours. But I wouldn’t see why a house from the 1970s wouldn’t be durable if it has been renovated.
3. We are planning an extensive energy-efficient renovation following the KfW program. I’m not sure what you mean by a "normal cost approach," but I would not expect that right now. Everything is expensive at the moment, and waiting times are long. KfW funding also means that a certified specialist company has to carry out the work. For us, this means doing more by ourselves where the funding doesn’t apply anyway.
If high-quality homes are extremely expensive, then new construction or renovation of an older building will also be costly.
The question will be what you can afford, and only then come the requirements. :-(
Welcome to the forum.
Personally, I completely renovated a house from the 1960s and would do it again anytime.
Advantages: There is no building land here. In my case, the renovation was cheaper than a new build. The location was perfect.
Disadvantages: You are restricted by the existing floor plan. A wall between kitchen and dining room can usually be removed (with a structural engineer!), but in general the floor plan and many other conditions have to fit. You can hardly increase ceiling height.
Anyway, with any renovation, you always have to make compromises somewhere, even if you gut and redo everything.
If you want everything completely new, the total cost can be higher than a new build, because you pay for existing usable living space, for gutting the property, and for doing everything new. It all depends heavily on the purchase price.
PeterPan1986 schrieb:None at all. The house will outlast you.
1. Suppose we buy a house from the 1970s and upgrade it to the latest state of the art. That doesn't change the original construction year. What disadvantages does this have in terms of durability, etc.?
PeterPan1986 schrieb:There are several renovation threads here, just browse the forum.
2. Who here has experience with such a project and would be willing to share it here? Was it worth it? Would you do it again? What do you see as the pros and cons?
Personally, I completely renovated a house from the 1960s and would do it again anytime.
Advantages: There is no building land here. In my case, the renovation was cheaper than a new build. The location was perfect.
Disadvantages: You are restricted by the existing floor plan. A wall between kitchen and dining room can usually be removed (with a structural engineer!), but in general the floor plan and many other conditions have to fit. You can hardly increase ceiling height.
PeterPan1986 schrieb:Absolutely, it’s possible. It’s all a matter of effort. What do you mean by “normal budget”?
3. We place importance on energy efficiency and modern heating technology (preferably air-to-air or air-to-water, including photovoltaic system). Is this possible within a renovation and a normal budget?
Anyway, with any renovation, you always have to make compromises somewhere, even if you gut and redo everything.
If you want everything completely new, the total cost can be higher than a new build, because you pay for existing usable living space, for gutting the property, and for doing everything new. It all depends heavily on the purchase price.
Sure, a house with a consistently watertight roof can last for 1000 years—there are several examples of this. The technical systems are simply updated as needed. Whether it makes sense to upgrade a house from the 1970s to meet current new-build standards is definitely open to question. In my opinion, in such cases, renovations should aim for a practical, comfortable condition without necessarily meeting what I consider the excessive airtightness and insulation requirements of a new build. I don’t want a house that only stays mold-free by running a continuous ventilation system.
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PeterPan19868 Aug 2021 19:29Thank you for your responses.
By a "normal cost approach," I mean that if the purchase price is 350,000 € (approximately 370,000 USD), I shouldn’t have to invest an additional 250,000 € (approximately 265,000 USD).
A modern standard of insulation, windows, heating, and photovoltaic systems is particularly important to me.
Regarding DIY work, we can only handle "general" tasks that don’t require specialized professional training. We are both competent amateur handymen (removing plaster, gutting, installing laminate flooring, painting, etc.).
@apokolok: From what year built would a thorough renovation make sense in your opinion?
@Tassimat: What measures did you have to take, and what was the biggest challenge?
Best regards
By a "normal cost approach," I mean that if the purchase price is 350,000 € (approximately 370,000 USD), I shouldn’t have to invest an additional 250,000 € (approximately 265,000 USD).
A modern standard of insulation, windows, heating, and photovoltaic systems is particularly important to me.
Regarding DIY work, we can only handle "general" tasks that don’t require specialized professional training. We are both competent amateur handymen (removing plaster, gutting, installing laminate flooring, painting, etc.).
@apokolok: From what year built would a thorough renovation make sense in your opinion?
@Tassimat: What measures did you have to take, and what was the biggest challenge?
Best regards
PeterPan1986 schrieb:
3. We prioritize energy efficiency and modern heating technology (preferably air-to-air or air-to-water heat pumps including photovoltaic systems). Is this feasible within a renovation project and a typical budget?
Thank you in advance for your experiences and responses.
Have a nice Sunday!Why not consider a ground-source heat pump with deep boreholes? As far as I know, it’s the most efficient option among those mentioned. Also, you won’t have an unattractive outdoor unit next to the house...
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