Anyone who buys an old house and who wants to renovate must provide the necessary budget on top of the purchase price. But how much do you do the best? A few tips for a good budgeting.
To start off with the bad news right away, it is unfortunately impossible to make a ready-made estimate. There is, though, the often-mentioned rule of thumb that costs a renovation of a house between 750 and 1,500 euros per square meter. But that is a very wide margin. For example, the renovation of a house of 150 square meters would cost between 112,500 and 225,000 euros.For most people who are renovating this, this is too big a difference to work with the restoration work. In addition, such a price does not really say anything about your own home: a mansion of the early 1900’s in the original state will require a much different budget than the renovation of a house from the 80’s.
So, look better at the various factors that determine the price.Actually, these are divided into two categories: costs related to the state of the house , and costs that are determined by theirown preferences .
Of course, the last factor is most obvious. Do you want a designer kitchen, or are you satisfied with a simple, self-catering kit with standard dimensions? And do you choose the bathroom for simple cranes, or a more expensive model that fits perfectly with the mirror? The most expensive option will cost a multiple of the cheapest. Here it is a question of setting your own priorities. If the finish is resolved for the most budget-friendly option, the house can provide less than 10,000 euros with a lot of new faucets, showers, bins, kitchen cabinets … For those who want better quality and more luxury, there will be price of this is a multiplicity soon. But that depends only on your own preference in terms of finishing. The advantage is that you can often spread these costs when renovating: if the house is still habitable in the current state, you do not have to refresh everything at once.
But at least as important are the basic facilities. For those who buy a home for less than 20 years, they will be better off than a 40-year-old worker’s house. Here too, there can be very big differences in ordering. In this example we are dealing with a house with a living area of about 150 square meters, which still has a good structure. Thus, no forced large-scale works should be done such as rebuilding foundations, replacing rotten walls or reinforcing the substrate. An extension of the residence is also not discussed. But even if everything looks good, keep in mind that you will have to incur at least some of these costs:
- Electricity:An inspection of the installation is necessary in many old buildings, and it is highly exceptional that it is all right. As a rule, full replacement of the entire installation will be required. The bill will soon rise to 10,000 euros, and that is still without facilities in the field of domotics.
- Sanitary: Ook, the water pipes and drain pipes are often at the end of their life in older homes. Often work still needs to be done on splitting off rainwater. The total invoice of this can be quickly up to 5,000 euros. This is without the previously mentioned faucets or showers.
- Heating: Whoever buys a house without central heating must also release the necessary budget. The rule of thumb is that the installation of a radiator, including pipes, costs 600 euros each. For a house with 10 radiators you get 6000 euros. Add another 5,000 euros for a high-performance boiler and the price rises to 11,000 euros.
- Windows:Old houses often still have glass or very insulating double glass. This replacement usually costs at least 500 euros per square meter. Smaller windows cost more per area. Thus, for a typical house with 30 square meters of windows, this amounts to about 15,000 euros.
- Roof: Another insulation fee that you do not expect to wait too long. If the roof itself is still in good condition, you will come up with the price of the insulation itself. Should the entire roof construction be re-installed, you will soon pay 200 euros per square meter. Add to this, three skylights at 700 euros each, and for a saddle roof with 70 square meters of pans the cost will cost more than 16,000 euros.
- Walls:After all of the above work, the existing inner walls will be heavily attracted. Replication is in most cases the only option. Calculate about 25 euros per square meter of walls and ceilings. In a house with a surface area of 150 square meters, you will easily get a price of 12,500 euros.
Whoever has the bad luck that all the above works are needed will have to cope up with 70,000 euros immediately. And that’s all without a little bit of finish: paint, carpet or floor, lamps, kitchen equipment … But as mentioned, you can decide on those costs yourself.
The only way to make a good estimate at the time of purchase is to bring an expert to the house. And it’s up to you to decide how much you want to spend on the finish.