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/diy/ - Do It Yourself

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1770795 No.1770795 [Reply] [Original]

yo /diy/, can you help me make a gut call?

I'm living in Germany and I'm in my 30s. I inherited a house, worth around 150k but it needs lots of fixing (around another 150k worth of fixing cost for heating, windows, bathroom, roof, etc including working hours) - condition of the house is below average german standard. Doesn't look that pretty, no neat architecture, good neighbourhood. I could do some of the fixings alone, which could probably save 20k.

Question now is: Do I invest the 150k and make it my home - or do I sell it right now and build a new one from scratch (which will probably cost around 250k to build)

>> No.1770810

>>1770795
Get it valued and see if you can make a profit by flipping it

>> No.1770812

>>1770795
it kinda seems like if you have to ask, go ahead and sell it.

>> No.1770817

>>1770795
Alte Häuser sind wie alte Frauen, egal wie viel Schminke du drauf packst es bleibt immer eine alte Frau.

>> No.1770846

>>1770795
Rent it to the government for immigrant storage. The government will upgrade it for free.

>> No.1770853

>>1770817
bausubstanz is halt bombe, das haus an sich keine perle, aber solide innem guten wohngebiet. Zieh ich da selbst ein oder verkauf ich den shit und bau lieber neu? fragen über fragen ey

>>1770812
kinda true, yes

>>1770810
150k, got it valued, and 150k for fixing

>> No.1770861

>>1770795
If you lived there, instead of somewhere else, how much would that save you, per month? You can put that much toward improvements, and still be ahead.
Consider which items need to be done, in order of need.

>> No.1771052

>>1770853
Bau Neu !!! Alte Häuser bringen immer überaschungen mit egal wie gut die Bausubstanz ist es ist immer ein Krampf im Arsch alles zu Renovieren. Neue Stromleitungen Neue Wasserleitungen Neue Heizung Neue Fenster Neues Dach usw. das ist immer ein Fass ohne Boden !!!!!

>> No.1771142

>>1770861
this. Can you do any of the repairs yourself?if you can, then just chip away at the repairs over the year. Is the house located in a nice neighborhood? If it is and it's just been neglected, then it might be worth your while.

>> No.1771221

>>1770795
>good neighbourhood
This is the major issue.
>I could do some of the fixings alone
That's good, and a cost saver.
>build a new one from scratch (which will probably cost around 250k to build)
If you can get a higher quality house in the same area or better for the same price, do that. If not, keep this one and fix it up yourself. This is a pretty simple cost-benefit analysis.

>> No.1771343

jmo but there are 2 perspectives to your query to diy...either as investment property or future residence for long term. investment property is short term hold with minimum cash injected, just keep it clean, in public view (signs, adverts, etc.) and find right buyer in up-cycle of property values, other view is to apply select improvements over time to property that will provide comfy' and add onto overall value. once you have determined which you commit to the choice will be cut and dry.. good luck OP

>> No.1773375

>>1770795
If you were to put in the 150k into the house, would the house be worth more than 300K? If the answer is yes, then the house could be worth your time. If it was worth less than 300K, then from a cost-analysis standpoint, the house is not worth the effort involved.