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Old 14.05.2012, 20:37
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Renovation project

We found a small 160 m2 Swiss Chalet style house that needs renovation and are wondering what it will cost.

First some background. We live in a small village 20 km outside of Zurich, and during one of our walks we came across a "for sale" sign in front of a Chalet style house, that we have admired in the past. We give the owners a call, and today had a viewing.

The 160 m2 Chalet is on a 800m2 plot and in desperate need of renovation. The price is only CHF 500.000.- pretty much the price of the land, and the owners are a typical Swiss family that do not want to see their family home destroyed by developers, and want to sell to locals who will fix up the house and live in it.

We are not Swiss, but own our own apartment in the village, have lived here for many years, and the wife speaks pretty good Swiss German - so sort of local. We are also from Iceland, so a bit unusual foreigners and based on the viewing today, stand a chance of getting the property.

The owners already told us that developers have offered CHF 100.000.- over the asking price, but will raze it down and build a new house on the plot. Something they do not want.

Our idea is to renovate the 160m2 Chalet built in 1952.

My question is: How much will it cost (stick thumb in air) to change all the windows (ca 10 - my guess is CHF 5000 per window), insulate the roof, new electricity, new plumbing with heat pump (CHF +50.000.- I think), new kitchen (CHF 30-40.000.-), knock down a few walls (wooden), do the floors, perhaps a bit of landscape gardening etc. etc.

Are we talking CHF 300.000.- or is it closer to CHF 600.000.- ?

Of course we will get a local firm to give us a quote on the restoration before we make an offer, but I am very impatient so I decided to ask here, as there is a lot of experience and knowledge in this forum on this subject.
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Old 14.05.2012, 22:26
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Re: Renovation project

If you outsource everthing but self manage the renovation I would think about 400k add about 50k for an Architect. Do you know the cubic m3 metres of the house, m2 is not always the best way to calculate. Also is the fasade stone or wood?
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Old 14.05.2012, 22:50
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Re: Renovation project

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The owners already told us that developers have offered CHF 100.000.- over the asking price, but will raze it down and build a new house on the plot. Something they do not want.
.
I am not sure I believe this story, the developer would just lie & say they were going to renovate pay the asking price & demolish.
The developer would only pay land value less cost of clearing site, rather than land value + 100K + clearing the site!

Every time I bought a property in the UK the estate agent would call & say someone else was going to pay more than I had agreed with the seller so would I increase my offer. I always told them to sell to the mystery buyer, the mistery buyer always dissapeared! The second time this happened I just reduced my offer by 10%, I ended up with the property at the lower price!
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