House for sale in Koln, Germany

Property description: This semi-detached house is ideal for a family, spread over 2 floors with a basement and converted attic, totaling 143.23 m² of living space. In addition to the main building, there is a two-story extension without a basement (used as a party room and WC), a garage, a parking space for a car, and a garden. The main house was built in 1924, with the extension added in 1949. The layout includes various rooms and facilities, such as a kitchen, bathrooms, bedrooms, and storage areas. The heating and hot water system is run by a gas central heating system made by Buderus, dating back to approximately 1981. However, the property is in need of maintenance and modernization in all areas, and there are some structural defects and damages that have not been properly attended to. Price thoughts: The listed price of 700.000€ may seem high, considering the required renovations and maintenance that are needed on the property. However, the possibility of securing a 30% discount on the market value through a potential auction could make this property a more attractive investment opportunity at a reduced cost of 490.000€. It's important to consider the potential savings on notary fees and agency commissions when evaluating the overall value of this property.