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Stephina8720 Aug 2015 23:00Hello everyone,
For two years, there hasn’t been anything suitable or interesting to buy.
Now there are two properties available in 89231 Neu-Ulm. Help!
If both were a good fit for you, which would you generally choose: buying an old house or building new?
Quick facts:
Old house: built in 1967, bathroom renovated 10 years ago, balcony, terrace, semi-detached house, 5.5 rooms, 139 m² (1494 sq ft) plus an unfinished attic (nothing done here), total land area including garden 465 m² (5005 sq ft), garage with electric door, very quiet location in a suburban area, available immediately, oil heating (system, guest toilet so far without sink, expansion vessel etc. renovated a few years ago, so relatively new), central heating, energy efficiency class G-H. All wallpapers and carpets would need to be removed, new flooring and walls painted or papered. Half-spiral staircases throughout, no railings to the basement and attic.
Purchase by bidding process – highest offer wins (inheritance community wants the money). Minimum bid: 300,000 €.
We estimated the costs for flooring, painting, renovation of the WC, removing a wall in the living room, installing a new kitchen, and come to a total of around 370,000 €.
New house:
New build within a building community of 7 units, terraced house with solid carport, total area 214 m² (2303 sq ft), 115 m² (1237 sq ft) with 4 rooms (3 rooms on the upper floor, 1 office with atrium in the basement which could be counted as around 12 m² (129 sq ft) added to the 115), underfloor heating, guest toilet, terrace, flat roof (cube design), open staircase, KfW 55 energy standard.
Costs for everything, move-in ready spring 2017: 400,000 €.
Can anyone tell me what I should consider for each property?
Financially, 400,000 € is our absolute maximum.
For two years, there hasn’t been anything suitable or interesting to buy.
Now there are two properties available in 89231 Neu-Ulm. Help!
If both were a good fit for you, which would you generally choose: buying an old house or building new?
Quick facts:
Old house: built in 1967, bathroom renovated 10 years ago, balcony, terrace, semi-detached house, 5.5 rooms, 139 m² (1494 sq ft) plus an unfinished attic (nothing done here), total land area including garden 465 m² (5005 sq ft), garage with electric door, very quiet location in a suburban area, available immediately, oil heating (system, guest toilet so far without sink, expansion vessel etc. renovated a few years ago, so relatively new), central heating, energy efficiency class G-H. All wallpapers and carpets would need to be removed, new flooring and walls painted or papered. Half-spiral staircases throughout, no railings to the basement and attic.
Purchase by bidding process – highest offer wins (inheritance community wants the money). Minimum bid: 300,000 €.
We estimated the costs for flooring, painting, renovation of the WC, removing a wall in the living room, installing a new kitchen, and come to a total of around 370,000 €.
New house:
New build within a building community of 7 units, terraced house with solid carport, total area 214 m² (2303 sq ft), 115 m² (1237 sq ft) with 4 rooms (3 rooms on the upper floor, 1 office with atrium in the basement which could be counted as around 12 m² (129 sq ft) added to the 115), underfloor heating, guest toilet, terrace, flat roof (cube design), open staircase, KfW 55 energy standard.
Costs for everything, move-in ready spring 2017: 400,000 €.
Can anyone tell me what I should consider for each property?
Financially, 400,000 € is our absolute maximum.
Energy demand class G-H <-> You would have to remove all wallpaper and carpets, install new flooring, and repaint or redecorate. All staircases are half-turned, leading to the basement and attic without railings.
That already makes little sense. What specifically do you want to do about the relatively high additional costs?
Personally, I would rather recommend an existing property, but it also has to be suitable and financially manageable. Considering the energy demand (and therefore utility costs) and the associated purchase price, I would probably keep looking... or be prepared and willing to carry out the renovation. If not, then it’s not an option. Searching for two years is not unusual.
That already makes little sense. What specifically do you want to do about the relatively high additional costs?
Personally, I would rather recommend an existing property, but it also has to be suitable and financially manageable. Considering the energy demand (and therefore utility costs) and the associated purchase price, I would probably keep looking... or be prepared and willing to carry out the renovation. If not, then it’s not an option. Searching for two years is not unusual.
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Stephina8720 Aug 2015 23:20Supposedly, two people living in the house consume about 2000 liters (530 gallons) of oil per year, according to the realtor. There is an 8-liter (2-gallon) tank installed, which is still half full. He also said that the solid wood windows and walls are very good and that insulation is not worthwhile here.
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Stephina8720 Aug 2015 23:24For new construction, the standard estimate is typically 3000 € / m² (approximately $280 per ft²). However, the architect says the actual cost is usually somewhat lower, since you can still choose all the contractors involved (this is tendered and decided together), and of course, you can also select low-cost tiles, flooring, faucets, etc.
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