Hello forum,
I’m new here and would like to start with a question. My wife and I have been looking for a house for some time now. We have found a house that fits our location preferences very well. The living area (200m² (2,152 sq ft)) and the plot size (1100m² (11,840 sq ft)) are also appealing to us. The only drawback: in my opinion, the house needs a complete renovation. The roof needs work (possibly just replacing the tiles), the exterior walls might need new insulation and rendering (??), and the interior layout needs to be redesigned because the current arrangement requires walking through one room to get to another, which I find inconvenient. Additionally, I think the electrical system must be updated, and of course, the painting work will need to be done at the end. The windows seem to be in good condition.
I know it’s difficult to give a price estimate now. It obviously depends on whether I choose high-end granite or settle for laminate flooring. Nevertheless, I am interested in your experience, for example, which of the tasks mentioned tend to be the most expensive?
What would you advise? Of course, I first need a cost overview to know whether I can afford the renovation at all. Who should I consult—an architect? I can’t buy the house only to find out later that I can’t afford the renovation. What would be the right approach?
Thanks in advance
I’m new here and would like to start with a question. My wife and I have been looking for a house for some time now. We have found a house that fits our location preferences very well. The living area (200m² (2,152 sq ft)) and the plot size (1100m² (11,840 sq ft)) are also appealing to us. The only drawback: in my opinion, the house needs a complete renovation. The roof needs work (possibly just replacing the tiles), the exterior walls might need new insulation and rendering (??), and the interior layout needs to be redesigned because the current arrangement requires walking through one room to get to another, which I find inconvenient. Additionally, I think the electrical system must be updated, and of course, the painting work will need to be done at the end. The windows seem to be in good condition.
I know it’s difficult to give a price estimate now. It obviously depends on whether I choose high-end granite or settle for laminate flooring. Nevertheless, I am interested in your experience, for example, which of the tasks mentioned tend to be the most expensive?
What would you advise? Of course, I first need a cost overview to know whether I can afford the renovation at all. Who should I consult—an architect? I can’t buy the house only to find out later that I can’t afford the renovation. What would be the right approach?
Thanks in advance
B
Bauexperte11 Feb 2011 09:50Hello,
The potential renovation costs will definitely be listed.
Kind regards
KKR schrieb:
A valuation report is certainly a useful document. Unfortunately, this report will not include any information about renovation costs
The potential renovation costs will definitely be listed.
Kind regards
B
Bauexperte11 Feb 2011 10:03Hello,
I would first have a property valuation report prepared, if it is not already available. This report will provide initial estimates of the potential renovation costs. As a second step, look for a renovation specialist you trust (Google can be helpful here, as well as the relevant architects’ association, homeowners’ protection organizations, etc.) and discuss the project with them—they should be able to give you a rough cost estimate. Once appointed, they will obtain the necessary quotes; the decision on who to hire then rests with you. It is important that the expert supports the project through to completion. The hourly rate for such a building surveyor usually ranges between €80 - €100 net, depending on education and qualifications; however, you can also negotiate a fixed price with them.
Kind regards
aytex schrieb:There are many ways to reach your goal.
...of course, I am also willing to pay for competent and well-founded assessments. Just casually asking, would I then have to google for an "architect" in my area, or a "construction expert"?
I would first have a property valuation report prepared, if it is not already available. This report will provide initial estimates of the potential renovation costs. As a second step, look for a renovation specialist you trust (Google can be helpful here, as well as the relevant architects’ association, homeowners’ protection organizations, etc.) and discuss the project with them—they should be able to give you a rough cost estimate. Once appointed, they will obtain the necessary quotes; the decision on who to hire then rests with you. It is important that the expert supports the project through to completion. The hourly rate for such a building surveyor usually ranges between €80 - €100 net, depending on education and qualifications; however, you can also negotiate a fixed price with them.
Kind regards
A good architect can provide realistic estimates, which is always worthwhile. A building surveyor usually assesses the current condition of the property. You should also check for any available subsidies or grants. If it is possible to receive financial support from the government, you should definitely take advantage of it.
Best regards
Best regards
I can only agree with Bauexperte here.
When I prepare property appraisals, I also take renovation costs into account, as the focus is on profitability.
Often, I even include energy-efficient renovation costs so that financing can at least partially go through the KfW, which automatically reduces the purchase price.
When I prepare property appraisals, I also take renovation costs into account, as the focus is on profitability.
Often, I even include energy-efficient renovation costs so that financing can at least partially go through the KfW, which automatically reduces the purchase price.
You’re mistaken; I do have a client, and I am working to achieve their goals. Naturally, the property’s value is assessed, but then the renovation costs are deducted from that. The aim is to buy cheaply, possibly factoring in KfW (Kreditanstalt für Wiederaufbau) subsidies or similar, so that the remaining expenses can be covered by affordable energy-efficient renovation programs.
Of course, change requests cannot be deducted unless they correspond to the current condition. Nevertheless, I will list those separately.
For my fee, I base it on the HOAI (German fee structure for architects and engineers), so the costs remain the same—in fact, they can be included in the calculations and may be subsidized.
If handled smartly, I would say it doesn’t cost anything at all but can actually save money.
Of course, change requests cannot be deducted unless they correspond to the current condition. Nevertheless, I will list those separately.
For my fee, I base it on the HOAI (German fee structure for architects and engineers), so the costs remain the same—in fact, they can be included in the calculations and may be subsidized.
If handled smartly, I would say it doesn’t cost anything at all but can actually save money.
B
Bauexperte15 Feb 2011 11:47Hello,
How do you think an expert/appraiser can reliably determine this value if they ignore the renovation costs that reduce the value (for example, damp masonry, outdated windows, leaking roof, etc.)?
Best regards from "Nuhr"
Kind regards
KKR schrieb:
...an appraisal report is meant to determine the market value of the developed property.
How do you think an expert/appraiser can reliably determine this value if they ignore the renovation costs that reduce the value (for example, damp masonry, outdated windows, leaking roof, etc.)?
Best regards from "Nuhr"
Kind regards