ᐅ Demolish or Renovate an Existing Property?

Hello everyone,

I have already posted pictures of my existing property in this thread: https://www.hausbau-forum.de/threads/abriss-oder-Sanierung-was-meint-ihr.30023/page-3#post-379181

Here is my current thought: renovate and then rent out. I have tradespeople ready . Demolition would be quite costly; the lowest quote I received was €25,000.

Renovation plan:
- new windows (I would consider windows from abroad, possibly with window rebate ventilation)
- heating system + radiators (a good friend would handle this)
- electrical work (also by the same friend)
- new floors and walls
- possibly new bricks
- interior doors
- the facade is basically fine (maybe a refresh or, if possible, adding a brick veneer)

Location: the property is in a very popular area, central yet quiet.

I am reluctant to sell it.

Unfortunately, I don’t have any floor plans for the basement/partial basement. Sometimes water seeps in from below during winter, but this past winter it stayed dry, no idea why (the seller had mentioned this as well).

I received these photos from the local authority today. If you look at the ground floor, the old plan corresponds to the current layout. The middle wall in the living room has been removed. I don’t have the exact measurements yet. The laundry room is an extension that I would remove, and I would relocate the entrance door to the east side, that is, into the dressing room.

Advantage: this would give me a bigger garden in my new build, which will be constructed behind the property, providing more privacy .

Question: how could the floor plan be optimized, possibly to create two separate apartments?

Feel free to be as creative as you want

Thank you!!

tumaa schrieb:

I’m reluctant to sell it.

That already gives you the answer yourself. I think the house has character. And if it is in a good location, as you mentioned, renovate it to a standard that allows you to rent it out well. That is probably the most cost-effective option. First, get quotes for all the trades involved. The total will then help you make a decision!

Vicky Pedia schrieb:

You are basically answering your own question. I think the house has style. And if it is located in a good area, as you say, renovate it to a level that allows you to rent it out easily. That is probably the most cost-effective option. First, get quotes for all trades involved. The total cost will then help you make a decision!

I just wanted to avoid suggestions like "just sell it."

The location is popular with both renters and buyers, I know that. It is 1km (0.6 miles) from the city center, with everything nearby, excellent highway access, and still quiet. I grew up in this area.

If I only do the necessary work, I think a budget of around €100,000-120,000 (about $110,000-$130,000) would be sufficient. The net rent would be at least €1000 (around $1100) per month.

Next, I will ask a roofer to check if the roof is still in good condition.

Exactly. Feel free to request some quotes. Whether you implement everything is another question. Consider which standard you would prefer; your tenants will want that too. Some appearance (such as the facade) should definitely be included. When it comes to floor plans, I’m not the right person. There are experts here for that....

With the budget you have in mind, you should be well on track, as long as we’re not talking about major metropolitan areas.

Keep us updated. I’d be interested in seeing one or two photos of the exterior view.

Vicky Pedia schrieb:

I would be interested in 1-2 photos of the view.

Construction of the new building began after these photos were taken; it is now located behind this.

What interests me most about the property is what can be done about the water pressure in the basement... I'm curious to find out.

This is the most important issue for me. Who would be a good contact person for this?