Hi everyone,
we were in the middle of applying for a plot of land for a new build and had already accepted the cost of about 520,000€ (around $560,000), until last weekend when we viewed a used house in Bergisch Gladbach.
Now we’re wondering if it makes more sense to buy the used house and skip the new build, especially since it’s not even certain that we will get a plot (allocation by lottery).
We were planning a detached house, two full floors, a city villa of about 190 sqm (2,045 sq ft). Gas condensing boiler, controlled mechanical ventilation, underfloor heating — basically the current standard. This would cost around 520,000€ (about $560,000), which would financially commit us for about 35 to 40 years.
The used house is a semi-detached, built in 1970. It has a full basement, two full floors, and a fully converted attic with 4 dormers. The windows were completely replaced in 2000, and the roof fully insulated. The facade was repainted about 10 years ago. The house currently has an oil heating system, but gas is already installed in the heating cellar, so switching to a gas condensing boiler is possible. The exterior walls are 24 cm (9.5 inches) thick masonry without added insulation. Overall, the house is very well maintained, but the interior needs renovation:
- all floors (parquet and tiles)
- all radiators
- gas condensing boiler
- 1 guest toilet, 2 bathrooms (one with bathtub and shower, the other with just a bathtub)
- interior walls painted white throughout; some wood paneling would need repainting and the wooden doors painted white as well.
The house is asking 335,000€ (about $360,000), with a 612 sqm (6,585 sq ft) plot, a garage with sectional door, and an extension. The garden is very well kept, as is the terrace. It’s located in a cul-de-sac, 50 m (160 ft) from the forest, 700 m (0.4 miles) from a kindergarten, and 1 km (0.6 miles) from the S-Bahn station for commuting.
How much would you estimate the cost of the above renovation and upgrades to be?
Is adding insulation combined with controlled ventilation economically worthwhile? How expensive would something like that be?
Finally, would you recommend purchasing the used house given the significant savings, or would you advise against it?
we were in the middle of applying for a plot of land for a new build and had already accepted the cost of about 520,000€ (around $560,000), until last weekend when we viewed a used house in Bergisch Gladbach.
Now we’re wondering if it makes more sense to buy the used house and skip the new build, especially since it’s not even certain that we will get a plot (allocation by lottery).
We were planning a detached house, two full floors, a city villa of about 190 sqm (2,045 sq ft). Gas condensing boiler, controlled mechanical ventilation, underfloor heating — basically the current standard. This would cost around 520,000€ (about $560,000), which would financially commit us for about 35 to 40 years.
The used house is a semi-detached, built in 1970. It has a full basement, two full floors, and a fully converted attic with 4 dormers. The windows were completely replaced in 2000, and the roof fully insulated. The facade was repainted about 10 years ago. The house currently has an oil heating system, but gas is already installed in the heating cellar, so switching to a gas condensing boiler is possible. The exterior walls are 24 cm (9.5 inches) thick masonry without added insulation. Overall, the house is very well maintained, but the interior needs renovation:
- all floors (parquet and tiles)
- all radiators
- gas condensing boiler
- 1 guest toilet, 2 bathrooms (one with bathtub and shower, the other with just a bathtub)
- interior walls painted white throughout; some wood paneling would need repainting and the wooden doors painted white as well.
The house is asking 335,000€ (about $360,000), with a 612 sqm (6,585 sq ft) plot, a garage with sectional door, and an extension. The garden is very well kept, as is the terrace. It’s located in a cul-de-sac, 50 m (160 ft) from the forest, 700 m (0.4 miles) from a kindergarten, and 1 km (0.6 miles) from the S-Bahn station for commuting.
How much would you estimate the cost of the above renovation and upgrades to be?
Is adding insulation combined with controlled ventilation economically worthwhile? How expensive would something like that be?
Finally, would you recommend purchasing the used house given the significant savings, or would you advise against it?
Absolutely! Existing buildings that have been reasonably well maintained or professionally and innovatively renovated/refurbished can be wonderful homes that, depending on expectations and investment, can easily compete with some new builds. Additionally, you often – though not always – get a larger plot of land with established vegetation and on top of that, a house with its own history.
Generalizations in any respect only reveal the ignorance and lack of ability to distinguish nuances of the person making the judgment.
Generalizations in any respect only reveal the ignorance and lack of ability to distinguish nuances of the person making the judgment.
T
Trademark13 Oct 2020 10:56Asuni schrieb:
Absolutely! Existing buildings that have been reasonably well maintained or professionally and innovatively renovated/restored can be wonderful homes that—depending on expectations and investment—can definitely compete with some new constructions. Moreover, you often get a larger plot with mature vegetation and, on top of that, a house with its own story.
Generalizations in any regard only reveal the lack of knowledge and inability to differentiate on the part of the evaluator. I can only agree. We are currently renovating a house whose origins date back to 1853, and I simply love discovering, restoring, and preserving the little stories we find along the way.
However, I believe existing buildings can lead to frustration if you actually want a new build and if you don’t have the financial means to adapt the existing property to your preferences.
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