House for sale in Hilden, Germany

Property Description: A three-story apartment building with 9 units, basement, and converted attic. The living area is 593 square meters and it features balconies, rooftop terraces, and garden terraces. The building was fictitiously built in 1973. Heating is provided by gas heaters, while hot water is supplied by electric water heaters. The building has various structural defects and damages, including cracks in the facade, peeling paint, dirt on the facade, damaged old clay roof tiles, dirt and paint needed on the underside of the roof overhang, outdated wood and plastic windows with partially single-glazed design, missing seals, cracks in the panes, mold in various locations, moisture in the chimney flue, cracks in the terrace tiles, and outdated bathrooms. The estimated maintenance reserves amount to €60,000, taking into account depreciation due to age and overall condition. Price Thoughts: The listing price for the property is €940,000. Given the issues and repairs needed on the property, the price may seem high at first glance. However, with a potential 30% discount on the market value, buyers could potentially acquire the property for €658,000. It's important to consider the possible savings and potential for investment in renovations and improvements to increase the property's value over time. Buyers should carefully weigh the cost of repairs and upgrades against the discounted price to determine if it is a worthwhile investment.