Renovating a fixer-upper - what to consider?

[andersmc]

Renovating a house in that condition to an acceptable standard costs at least as much as building a new one. And then you'll still have a house that probably has a layout far from optimal.

 

[Enk Projektet]

Count on thousands of hours if you're going to do everything yourself.......
Stubbornness and determination are a must......

 

[Wilfa]

If you disregard renovation costs and the possibility of getting a loan, it can generally be said that it is extremely uncommon in Sweden for easements to live in a house; the usual ones are, for example, various types of pipelines and roads.

Who you choose to live in the house after you buy it should not concern the bank, but it is important to establish a correct rental agreement. Evicting previous owners should be fine as long as you have a good argument, such as that you are going to renovate the house and live in it yourself.

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[Ewald]

@ Wilfa

Okay, thanks!

Well, in Austria for example, it's common. If you, for example, take over a house from your parents, they often want to live there for their whole life. It's also listed as an encumbrance in the "Grundbuch (C-sheet)". In principle, banks don't want such houses as security.

Alright. Well, the bank must get the money back in an extreme situation. They basically don't know what applies abroad, which is why it's almost impossible to mortgage a property located abroad. I had discussions with banks in Austria.

I will have a conversation with a bank in Sweden about my ideas and my situation. I think it's better there. However, right now I'm just starting as a teacher (part-time - I can work when I want) in Austria. Currently, no income in Sweden. Previously had a Swedish employer (part-time).

Curious what they will say. Not the best situation, I would think.

 

[Ewald]

Count on thousands of hours if you are going to do everything yourself....... Perseverance and determination are a must......

As I am a civil engineer, I prefer to do everything myself. I want to then test my concepts, etc. ... maybe an electrician is needed, but the rest I want to do myself.

 

[Ewald]

Renovating a house in that condition to an acceptable standard costs at least as much as building a new one. And then you still have a house that probably has a layout far from optimal.

Yes, but you risk less money if you do it "bit by bit". As I said, I want to renovate myself. Do the work myself, create a project, gather experience, have a project to showcase, etc.

I have good access to cheap building materials and have previously carried out renovation work.
But I want to learn more about Swedish fstigheter. It is important.

 

[andersmc]

Yes, but you risk less money if you do it "bit by bit". As I said, I want to renovate myself.

I'm quite skeptical about risking less money. It could just as well be the other way around.

Do the work yourself, create a project, gather experience, have a project to showcase, etc.

Then it's more appropriate to build a house from scratch.

 

[Ewald]

@ andersmc

Yes, it can be the other way around too.

I calculate it like this: If you pay 50,000 SEK for a house, it's basically not much money - for a house.
If you pay, for example, 300,000 SEK for a house and lend out maybe 250,000 SEK (interest: 5%), then you already pay 12,500 SEK in interest the first year.

For my part, it would be interesting:

- Have an address in Sweden
- be able to receive mail etc. at a Swedish address
- have a storage space
- have an overnight apartment (with a shower!)
- do a reference project (renovation for example)

 

[Ewald]

Another question is whether it will be successful to rent out the house (or part of the house) in that area. Everyone wants to live in big cities like Göteborg, Jönköping, Kungsbacka, Stockholm, etc.