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Gibson197921 Jun 2013 12:56Hello everyone,
My wife, our child, and I would like to buy the house where we (my parents and I) have been renting for about 35 years.
The location is excellent and the plot is very large. The garden is a dream.
The drawback is that almost nothing has been done to the house except for the electrical system being renewed (around 1975), the roof replaced including the roof structure (also around 1975), and the house being excavated around the perimeter to waterproof it. Aside from these, only minor cosmetic repairs come to mind.
Oh yes, there is no central heating. We heat with oil-filled radiators combined with a new briquette stove on the ground floor.
Since the chimney runs through the first floor, there is quite a bit of residual heat.
Hot water is provided by a modern tankless water heater.
Now for the checklist:
- We want to install a new heating system.
- The water pipes need to be replaced anyway (the old pipes are completely calcified).
- New windows (currently “pre-war single glazing”).
- Facade insulation (if possible, as I believe the building is right on the property boundary).
- Convert and insulate the attic/roof space.
Of course, this will cost a lot of money but except for the heating and water pipes, we will do the rest ourselves with the help of friends and family.
Questions:
1.) What general points should we pay special attention to?
2.) Are there any current regulations that require us to replace or upgrade anything? For example, “You must remove the briquette stove now” or “You have two years to insulate the house” and so on.
We definitely plan to hire a surveyor, but we are curious in advance about what to expect.
This is my personal dream to stay here, as I grew up here and now my son does too. However, I don’t want to put us at financial risk.
Our current landlord is very fair and wants to offer us the house first since we have been living here for so long. We would also be able to take good care of my parents when they are older... This is planned to happen within the next two years as he wants to sell the house by then.
What do you think?
Best regards
Gibson1979
My wife, our child, and I would like to buy the house where we (my parents and I) have been renting for about 35 years.
The location is excellent and the plot is very large. The garden is a dream.
The drawback is that almost nothing has been done to the house except for the electrical system being renewed (around 1975), the roof replaced including the roof structure (also around 1975), and the house being excavated around the perimeter to waterproof it. Aside from these, only minor cosmetic repairs come to mind.
Oh yes, there is no central heating. We heat with oil-filled radiators combined with a new briquette stove on the ground floor.
Since the chimney runs through the first floor, there is quite a bit of residual heat.
Hot water is provided by a modern tankless water heater.
Now for the checklist:
- We want to install a new heating system.
- The water pipes need to be replaced anyway (the old pipes are completely calcified).
- New windows (currently “pre-war single glazing”).
- Facade insulation (if possible, as I believe the building is right on the property boundary).
- Convert and insulate the attic/roof space.
Of course, this will cost a lot of money but except for the heating and water pipes, we will do the rest ourselves with the help of friends and family.
Questions:
1.) What general points should we pay special attention to?
2.) Are there any current regulations that require us to replace or upgrade anything? For example, “You must remove the briquette stove now” or “You have two years to insulate the house” and so on.
We definitely plan to hire a surveyor, but we are curious in advance about what to expect.
This is my personal dream to stay here, as I grew up here and now my son does too. However, I don’t want to put us at financial risk.
Our current landlord is very fair and wants to offer us the house first since we have been living here for so long. We would also be able to take good care of my parents when they are older... This is planned to happen within the next two years as he wants to sell the house by then.
What do you think?
Best regards
Gibson1979
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Gibson197921 Jun 2013 14:05Mh budget after purchase about 40,000 euros. We thought about combining the main loan with subsidized renovation loans. But everything step by step.
The expert assessor definitely seems important to us.
As mentioned, we are very interested to know if there are any deadlines for anything, as described in my first post.
The expert assessor definitely seems important to us.
As mentioned, we are very interested to know if there are any deadlines for anything, as described in my first post.
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Bauqualle21 Jun 2013 14:22Gibson1979 schrieb:
1.) What should we generally pay special attention to? .. quite simply ... to everything .... so I recommend the following ... find an older and truly experienced professional, an architect or construction manager, and have them thoroughly inspect the house ... from this, you or the expert can determine the current value of the property and the total renovation costs. From experience, I can tell you that renovating old residential buildings often ends up being more expensive than new construction ... the surprises are in the details, but often the location and the plot make it worthwhile .... there was a very interesting TV show on RTL once: Bargain Houses ...Hello,
Houses built in this era are realistically valued only at the equivalent of a shell construction and are usually depreciated accordingly before renovation. This would likely amount to a six-figure sum, depending on size, the desired living standard, and current condition – of course, more precise information can only be provided by a professional on site. Additionally, it must be checked whether the planned changes require compliance with the current energy saving regulations.
On the positive side, these properties generally offer an established residential location, a larger garden than many modern new builds, and a familiar neighborhood. On the downside are often the low ceiling heights found in older buildings, floor plans that no longer meet today’s living standards, and possibly a permanently damp and low basement.
Ultimately, this is something each person has to assess individually.
Two rules should always be kept in mind, both for new builds and renovations: Costs always end up higher than estimated – and every change to the building leads to two additional changes.
Houses built in this era are realistically valued only at the equivalent of a shell construction and are usually depreciated accordingly before renovation. This would likely amount to a six-figure sum, depending on size, the desired living standard, and current condition – of course, more precise information can only be provided by a professional on site. Additionally, it must be checked whether the planned changes require compliance with the current energy saving regulations.
On the positive side, these properties generally offer an established residential location, a larger garden than many modern new builds, and a familiar neighborhood. On the downside are often the low ceiling heights found in older buildings, floor plans that no longer meet today’s living standards, and possibly a permanently damp and low basement.
Ultimately, this is something each person has to assess individually.
Two rules should always be kept in mind, both for new builds and renovations: Costs always end up higher than estimated – and every change to the building leads to two additional changes.
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Gibson197921 Jun 2013 14:57Thanks for the responses
We are quite happy with the way we live
We would just like to modernize a bit.
As I said, is there currently any requirement or deadline that would force us to take any action?
Best regards
Gibson1979
We are quite happy with the way we live
We would just like to modernize a bit.
As I said, is there currently any requirement or deadline that would force us to take any action?
Best regards
Gibson1979
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