We are considering whether to renovate an old house or have a new one built!
The "old" detached single-family house, built in 1977, (external dimensions 10x10m (33x33 feet)) is situated on a very small plot. I estimate the living area to be around 150 m² (1,615 sq ft).
Brief overview of the features:
Basement with 2 medium-sized utility rooms, a party room, and a bathroom,
Ground floor with a large living/dining area including a fireplace, small kitchen, and bathroom,
1st floor with 3 rooms and a bathroom (all rooms have steep sloping ceilings),
Attic.
We would only be able to take over the house with an outstanding loan of about 100,000 euros within the family.
However, there are many tasks to be done:
completely new exterior cladding,
an alternative needs to be found for a wall element made of glass blocks, as it looks very outdated,
new underfloor heating on ground and first floors,
complete bathroom renovations on both floors,
new kitchen with a wall removed to connect it to the living area,
sauna planned in the old basement bathroom,
party room fully renovated,
of course, new wallpaper throughout the house,
the floors can stay as they are for now.
I’m not sure if we might be in a better financial position to just buy a new house directly or have one built exactly the way we want.
Maybe there are experienced people here who could give me some tips, including how to get an idea of the costs involved in renovation versus new construction.
The "old" detached single-family house, built in 1977, (external dimensions 10x10m (33x33 feet)) is situated on a very small plot. I estimate the living area to be around 150 m² (1,615 sq ft).
Brief overview of the features:
Basement with 2 medium-sized utility rooms, a party room, and a bathroom,
Ground floor with a large living/dining area including a fireplace, small kitchen, and bathroom,
1st floor with 3 rooms and a bathroom (all rooms have steep sloping ceilings),
Attic.
We would only be able to take over the house with an outstanding loan of about 100,000 euros within the family.
However, there are many tasks to be done:
completely new exterior cladding,
an alternative needs to be found for a wall element made of glass blocks, as it looks very outdated,
new underfloor heating on ground and first floors,
complete bathroom renovations on both floors,
new kitchen with a wall removed to connect it to the living area,
sauna planned in the old basement bathroom,
party room fully renovated,
of course, new wallpaper throughout the house,
the floors can stay as they are for now.
I’m not sure if we might be in a better financial position to just buy a new house directly or have one built exactly the way we want.
Maybe there are experienced people here who could give me some tips, including how to get an idea of the costs involved in renovation versus new construction.