Buying an old house you should consider

 

Whether a house inspection, warranty, or subsidies - we explain what you should pay particular attention to when buying an old house. In particular, it is important to realistically estimate the renovation effort so as not to fall into the cost trap after buying a house.

Buying an old house: pros and cons

Buying a used house has many advantages over a new building: the purchase price is usually cheaper and you have good cost control - provided that the property has been carefully examined beforehand.

You can also move in more quickly, eliminating long planning and construction times. Ideally, this will save you a lot of stress.

Many old houses also have a special charm and beautiful large gardens with ingrown old trees that hardly a new building can offer. Last but not least, buying an old building is much more sustainable than buying a new one.

But: if you buy an old house, you usually have to reckon with necessary modernization measures. So that buying a house does not become a cost trap, it is important to realistically estimate the renovation costs. If this "house check" is positive, you can strike with a clear conscience.

House inspection: what you should be aware of

Put a lot of emphasis on the viewing. Here you can already clarify many questions: What are the location and surroundings? Do the floor plan and layout of the apartment suit your needs? What is the condition of the house? How much you can get benefit from luxury apartments in Lahore?, What equipment does the property have? Do you like the outdoor facilities and the garden?

Examine the house carefully

Often used houses are bought after just a single visit. But that is not enough. An initial inspection only provides a rough overview - nothing more. The systematic check of property for construction defects is essential. You can find an overview of the most common construction defects in old houses here: Recognizing construction defects when buying a house. It is advisable to consult an architect or building expert for the house you prefer. With an appraisal and renovation report, prospective buyers can reliably find out whether the house is worth its price and what renovation costs and retrofitting obligations can be expected.

For example, old oil and gas heating systems that are over 30 years old have to be replaced with new, more energy-efficient heating systems. More on the obligation to replace old oil and gas heating systems and the ban on oil heating.

By the end of 2020, chimney and tiled stoves that were put into operation before January 1, 1995, must also be replaced or retrofitted to comply with the limit values. More about the obligation to replace old ovens.

Take modernization measures into account

Finding a used house that exactly meets your needs is a godsend. As a rule, smaller or larger modernizations will be necessary. These don't necessarily have to be construction defects.

It is much more common that the old-fashioned tiles in the kitchen or bathroom are not appealing, the rooms are too small or unfavorably cut or the attic needs to be expanded to gain more living space. If you are planning modernizations, you should pay special attention to a realistic cost estimate and - if you want to do your work - do not overestimate your technical and time possibilities.

Renovations are often more expensive than expected

The modernization of old houses is almost always more expensive than lay people suspect. Around two-thirds of residential buildings are more than 35 years old. When buying a used home, keep in mind that modernizations are usually essential and check Union Complex. The following applies: the older the house, the higher the investment:

To bring a single-family home from the 1970s and 1980s up to date, modernization expenses of around a third of the purchase price must be expected. Those interested in buying should mentally add this amount to the purchase price right from the start.

For the contemporary renovation of old houses from the post-war years, experts estimate a good 40 percent of the purchase price.

Older houses from before 1930 even need around half of the purchase price for the renovation.

Even newer properties can seldom be moved into immediately. Cosmetic repairs and repairs make up around a fifth of the purchase price.

Special case: Buying a monument and renovating it

Listed houses have a special charm. However, the renovation is often more complicated and has to be coordinated in detail with the authorities. The requirements of the authorities must be brought into line with the owners' living requirements. The maintenance and care are also more complex than with normal houses. Because that is the case, the state financially accommodates monument owners. Most of the work on the monument can be deducted from taxes - provided that the work has been approved by the responsible monument authority.

The purchase agreement

Have you found your dream home? Take the opportunity to negotiate the purchase price. Defects or disadvantages that you or the building surveyor discovered during the previous visits can now be asserted.