Hello everyone,
We bought a house built in 1909 in the Greater Stuttgart area that needs renovation because we liked the location and the plot. The plan was to completely renovate it. Now we are quite torn about whether building a new house makes more sense. Of course, I don’t expect this forum to make the decision for us 🙂 I just hope to get some input, as we are currently about 50/50 on both options.
In summary: The house can be renovated well, and all the experts who have inspected it have given positive feedback. The renovation is estimated to cost around €250,000. The question, however, is more of an economic nature: Does it really make sense to invest that much money into an old house? The plot and the zoning plan allow for a house about twice the current size. So the other idea is to demolish, build bigger, and rent out 1-2 units. The financing with the bank is also arranged. However, the potential risks of new construction and renting are causing us some concern.
I don’t want to overwhelm you with lots of details. I have summarized everything in a pros and cons list. I look forward to your input or gut feelings.
We bought a house built in 1909 in the Greater Stuttgart area that needs renovation because we liked the location and the plot. The plan was to completely renovate it. Now we are quite torn about whether building a new house makes more sense. Of course, I don’t expect this forum to make the decision for us 🙂 I just hope to get some input, as we are currently about 50/50 on both options.
In summary: The house can be renovated well, and all the experts who have inspected it have given positive feedback. The renovation is estimated to cost around €250,000. The question, however, is more of an economic nature: Does it really make sense to invest that much money into an old house? The plot and the zoning plan allow for a house about twice the current size. So the other idea is to demolish, build bigger, and rent out 1-2 units. The financing with the bank is also arranged. However, the potential risks of new construction and renting are causing us some concern.
I don’t want to overwhelm you with lots of details. I have summarized everything in a pros and cons list. I look forward to your input or gut feelings.
Other couples use the children's rooms as guest rooms or hobby rooms for activities like sewing or model building and have lots of guests.
You can sell houses if they no longer fit your needs. Why limit yourself for 15 years just because you might not need the extra space later, and then fate strikes, and even the few steps at the entrance become an obstacle. Not to mention the bathroom being too small.
You can sell houses if they no longer fit your needs. Why limit yourself for 15 years just because you might not need the extra space later, and then fate strikes, and even the few steps at the entrance become an obstacle. Not to mention the bathroom being too small.