House for sale in Koln, Germany

Property Description: This property, priced at 520.000€, is located at 51069 Köln. It consists of a two-story, semi-detached house with two apartments upstairs and a basement. The house was built in 1910, while the rear building was an old factory warehouse that was transformed into a two-story structure without a basement during the 1970s. A bungalow comprised of a single story at the rear of the property, which was constructed in the 1950s. The property has unresolved legal disputes due to unclear property lines, leading to disagreements among neighbors. This has resulted in the need for property inspections and has affected the property's condition. It is reported that the building's exterior walls and roof require repair, and no detailed inspection can be done to confirm if the whole structure may need to be removed due to potential building code violations. Real Estate Investment Perspective: From an investment standpoint, the property's main issue is the legal disputes over property lines, which could potentially lead to costly repairs and legal matters. The property's condition is currently poor, with notable damage in need of repair, making it relatively risky in terms of potential returns. The declared value of the property is 520,000€, and it is currently offered under auction. The advertisement states that the property can be purchased at 364,000€ after a 30% discount, including fees, which effectively lowers it to below the market value, making it a potential buyers' choice. Earnings from renting these properties could be modest given their condition and location and would also depend on the resolution of legal disputes and necessary repairs. Lifestyle Purchase Perspective: From a lifestyle perspective, the main issue with this property is the ongoing legal disputes and the poor overall condition of the structure. This could affect an individual's comfort and safety in their potential home and would require significant effort and expense to resolve the issues, making this property choice potentially stressful and costly from the outset. Moreover, the estimated repair costs and the potential need to demolish and rebuild parts of the building could result in costs far exceeding the initial purchase price. This, in turn, could impact the long-term financial planning and overall satisfaction with such a property as a home purchase. Overall, while the property value is listed as 520,000€, and it appears to be available at a lower price due to discounts, the numerous issues concerning the property's condition and legal disputes potentially make it a poor investment and lifestyle choice. It requires further assessment and consideration before making an offer to avoid any unforeseen expenses and issues.