ᐅ Renovate an old house from the core or build a prefabricated home?
Created on: 19 Feb 2017 20:29
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taptap2005
Hello my dear friends, here I am again
....this time completely desperate and starting from ZERO again....
We are totally confused and feel like we’re starting all over again...
In short: We are buying the house we currently rent in March.
The house was built in 1952 and is quite run down.
It is located in a prestigious neighborhood in Munich with a 1100 sqm (11,840 sq ft) plot of land, for €130,000.
1. The first idea was: tear down the house and build new.
2. The second idea was: completely renovate/modernize the existing house.
Our budget is about €450,000.
Now we have received the first quotations from renovation companies including everything:
exterior facade,
doors,
windows,
flooring,
bathroom,
electrical work,
roof,
heating,
etc.
They amount to around €200,000. But many acquaintances said we should realistically expect at least an additional €50,000 on top if €200,000 is already quoted.
WHAT is really better and cheaper in the end???
We are totally overwhelmed.
Today we visited a model home center and looked around. The houses there are all under 150 sqm (1,615 sq ft) and with a basement cost about €300,000–400,000, which is about 30–40 sqm (320–430 sq ft) smaller than our current house.
It’s so difficult for us, but we should slowly make a decision as this is dragging on.
Build new? – Prefabricated house.
Since we would need to move out temporarily during new construction, a prefabricated house is the only option for us because it has to go quickly.
Oh guys, honestly, out of sheer frustration I’d prefer to do nothing anymore *laugh* – every day there’s a different opinion and everyone tells us something different…
What do you think?
....this time completely desperate and starting from ZERO again....
We are totally confused and feel like we’re starting all over again...
In short: We are buying the house we currently rent in March.
The house was built in 1952 and is quite run down.
It is located in a prestigious neighborhood in Munich with a 1100 sqm (11,840 sq ft) plot of land, for €130,000.
1. The first idea was: tear down the house and build new.
2. The second idea was: completely renovate/modernize the existing house.
Our budget is about €450,000.
Now we have received the first quotations from renovation companies including everything:
exterior facade,
doors,
windows,
flooring,
bathroom,
electrical work,
roof,
heating,
etc.
They amount to around €200,000. But many acquaintances said we should realistically expect at least an additional €50,000 on top if €200,000 is already quoted.
WHAT is really better and cheaper in the end???
We are totally overwhelmed.
Today we visited a model home center and looked around. The houses there are all under 150 sqm (1,615 sq ft) and with a basement cost about €300,000–400,000, which is about 30–40 sqm (320–430 sq ft) smaller than our current house.
It’s so difficult for us, but we should slowly make a decision as this is dragging on.
Build new? – Prefabricated house.
Since we would need to move out temporarily during new construction, a prefabricated house is the only option for us because it has to go quickly.
Oh guys, honestly, out of sheer frustration I’d prefer to do nothing anymore *laugh* – every day there’s a different opinion and everyone tells us something different…
What do you think?
P
Peanuts7421 Feb 2017 14:33I have actually heard of a company where EVERYTHING is prefabricated, but I have no idea how that works. The bathrooms are already installed, along with the electrical systems, etc. They advertise that they arrive in the morning and by the evening you can already put a pizza in the oven. However, they charge a very high price for this...
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Caspar202021 Feb 2017 21:15Using a prefabricated house provider can definitely shorten the timeline; however, you still need to plan in terms of months. After the house is set on-site, you can typically move in after about 3 months.
Then there is the demolition phase; if a basement is involved, it becomes even more complicated. In that case, I would add another 1.5 months to the 3 months.
What timelines have you been expecting?
Then there is the demolition phase; if a basement is involved, it becomes even more complicated. In that case, I would add another 1.5 months to the 3 months.
What timelines have you been expecting?
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taptap200521 Feb 2017 22:14Hello again, here I am once more....
First of all, I understand everyone who wondered when I posted the price here... sorry, I didn’t mention that this is a leasehold property that we are taking over from our current landlord. I also know that the whole leasehold situation is really complicated, but at the moment this is the only option we can pursue. We don’t want to leave this area, and with three children, I also don’t want to move into a small apartment.
So, leasehold – we are only buying the very old house and thus the right to use the land for the remaining 75 years.
First of all, I understand everyone who wondered when I posted the price here... sorry, I didn’t mention that this is a leasehold property that we are taking over from our current landlord. I also know that the whole leasehold situation is really complicated, but at the moment this is the only option we can pursue. We don’t want to leave this area, and with three children, I also don’t want to move into a small apartment.
So, leasehold – we are only buying the very old house and thus the right to use the land for the remaining 75 years.
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taptap200521 Feb 2017 22:16There were also construction companies as well as a prefabricated house supplier. We know that we should expect at least one year ourselves for production, basement, installation, etc.
The best option is probably to hire an expert who can give us precise information.
Where can I find a good expert?
The best option is probably to hire an expert who can give us precise information.
Where can I find a good expert?
Why not, it’s great, isn’t it? That’s actually the point of leasehold: to help people in areas where they would otherwise be hopelessly too poor to afford their own home. Seventy-five years is enough. And if the leaseholder is the church or the city, renewal of the lease is likely. Go for it. That’s like winning the lottery in Munich. If all else fails, you can always spruce up the old building first, little by little... Sometimes you just have to be lucky!
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