Hello Dear Home Building Forum Community,
First of all, Happy New Year!
It is still quite early since we are not yet sure if either of the two properties will definitely work out, but I have a fundamental question and would like to gather some feedback.
So, option 1:
- Existing property with approximately 700 m² (8,400 sq ft) plot, just under 160 m² (1,720 sq ft) living space, built in 1940, garage, partially basemented. It seems to be in relatively good condition, but the layout is not ideal for our plans and we would need to invest a lot in the coming years (more/larger windows, extension, different walls, new staircase, underfloor heating). Short-term livability would probably be possible, even the kitchen with appliances could be taken over.
Option 2:
- Newly built semi-detached house, 400 m² (4,300 sq ft) plot, 150 m² (1,615 sq ft) living space, adaptable floor plan, modern upscale finish, flooring in living areas and painting still require DIY work, kitchen is an additional cost but there is a 1000 EUR kitchen voucher (wow! ).
The location is similar, although I prefer location 1, and my partner prefers location 2.
Financially, both options are quite similar; the nominal amount is higher for option 2 initially, but with option 1, a lot still needs to be invested, which from my perspective balances it out.
My question is more about risk.
Where do you see the greater risks for possible additional costs/efforts, or total losses?
For example, can a building inspector really identify all flaws in such an old property?
On the other hand, I have already learned from reading the forum how much can go wrong during house construction, and how unforeseen additional costs, necessary refinancing, etc., can threaten entire livelihoods.
I appreciate opinions, experiences, advice, and any other tips.
Thank you in advance for your contributions.
Best regards
Tolentino
First of all, Happy New Year!
It is still quite early since we are not yet sure if either of the two properties will definitely work out, but I have a fundamental question and would like to gather some feedback.
So, option 1:
- Existing property with approximately 700 m² (8,400 sq ft) plot, just under 160 m² (1,720 sq ft) living space, built in 1940, garage, partially basemented. It seems to be in relatively good condition, but the layout is not ideal for our plans and we would need to invest a lot in the coming years (more/larger windows, extension, different walls, new staircase, underfloor heating). Short-term livability would probably be possible, even the kitchen with appliances could be taken over.
Option 2:
- Newly built semi-detached house, 400 m² (4,300 sq ft) plot, 150 m² (1,615 sq ft) living space, adaptable floor plan, modern upscale finish, flooring in living areas and painting still require DIY work, kitchen is an additional cost but there is a 1000 EUR kitchen voucher (wow! ).
The location is similar, although I prefer location 1, and my partner prefers location 2.
Financially, both options are quite similar; the nominal amount is higher for option 2 initially, but with option 1, a lot still needs to be invested, which from my perspective balances it out.
My question is more about risk.
Where do you see the greater risks for possible additional costs/efforts, or total losses?
For example, can a building inspector really identify all flaws in such an old property?
On the other hand, I have already learned from reading the forum how much can go wrong during house construction, and how unforeseen additional costs, necessary refinancing, etc., can threaten entire livelihoods.
I appreciate opinions, experiences, advice, and any other tips.
Thank you in advance for your contributions.
Best regards
Tolentino
11ant schrieb:
You can hardly be serious about this question: ground floor as a bedroom suite (with bathroom as a walk-through room!!!); not only the other floors, but actually most of the neighboring rooms are accessible only or at least better from the outside; the house is basically like a motorhome without a passage between the driver's cabin and the living area – simply creepy. Unfortunately, I tend to agree – the floor plan is really more than suboptimal, and to make it somewhat workable for a single-family home, first of all, you probably won’t have much left of the house except the foundation, exterior walls, and maybe one or two load-bearing walls (if at all). You will definitely need significantly more than 100,000 euros; I estimate that even with changes to the existing floor plan plus an extension (and all the other smaller expenses that come with an older building project), you could easily reach at least 200,000 euros. If that will even be enough.
Furthermore – I’m not an expert here – it looks like one corner of the house and the staircase are outside the building zone boundaries (blue lines?). I would definitely check the legal situation as thoroughly as possible so you don’t end up having to, for example, demolish the staircase because it lies outside the permitted building area. But as I said, other users can probably assess this better. In any case, this would be quite a significant drawback for me if this issue could not be resolved clearly, especially if you don’t plan to combine the house into a single structure and build a new one.
For a project like this, you generally need a rather generous budget to really design a comfortable home (whether it’s a renovation or a new build). If your financing can only comfortably cover painting and flooring, the current condition is just too impractical.
Asuni schrieb:
Furthermore – I’m not very familiar with this – it seems that one corner of the house and the staircase are outside the building plot area (blue lines?). I would definitely check the legal situation as much as possible here, so you don’t end up having to, for example, remove the staircase because it is outside the designated building area. Yes, that’s what I meant in my previous post as well. It looks like the owner has just done things here quite freely. That seemed to be the case for the whole house, actually. The conservatory is not really a conservatory but more of a weather protection structure. The narrow part on the right side of the plan is an extension. They simply throw garden waste over the property boundary into the nearby recreational area, where there are only trees and shrubs (this was presented to me as a positive). There is also an unregistered groundwater well... All issues that could potentially cause problems for me in the long run.
I think I’m really out at this point. Other sellers have nice properties too...
11ant schrieb:
Demolition won't be that expensive.What do you estimate the cost of demolishing a house like this would be?
Tolentino schrieb:
What do you estimate the cost of demolishing a house like this would be? Asuni schrieb:
First of all, there probably won't be much left of the house besides the foundation, the exterior walls, and maybe one or two load-bearing walls (if any), and you will need significantly more money than 100,000 euros. The local daily rates for demolition contractors are not my area of expertise, and I also do not want to speculate on the renovation costs in terms of money here. I would rather put it this way: "from my perspective, it should be expected that the renovation costs will exceed those of a new build," and by enough of a margin that the location alone will not compensate for ending up with a clearly suboptimal result.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
I’m guessing about 20k for demolition.
Simply put: you submit a written offer of 300,000 euros (approximately $320,000) valid until xx.01.20, with a clear explanation. For example, due to the obviously unauthorized extensions, the unsuitable floor plan, etc., we are willing to pay 300,000 euros for the plot.
It probably won’t be accepted, but you have nothing to lose. Sometimes you might also get lucky.
Simply put: you submit a written offer of 300,000 euros (approximately $320,000) valid until xx.01.20, with a clear explanation. For example, due to the obviously unauthorized extensions, the unsuitable floor plan, etc., we are willing to pay 300,000 euros for the plot.
It probably won’t be accepted, but you have nothing to lose. Sometimes you might also get lucky.
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