Cost of renovation vs. final house
Cost of renovation vs. final house value - any recommendations? I am looking to possibly restore a 19th century house in a Piemontese hamlet which was used to make wine. It is tiny and on 4 floors (cellar, ground floor, first floor and attic) - only 96 m2 if you include one room in the attic. It is basically a ruin and just about everything has to be redone. The walls seem okay but the roof, flooring/ceilings, electricity, plus installation of a kitchen/bathroom(s), etc. all have to be done.I got a guestimation from a local geometra that the estate agent recommended. But his quote with the cost of the house and fees for permits, notary, agent, etc looks like the house might cost more to renovate than what it would be worth in the end. It has character which is good but there are limits. It makes little sense to spend €180,000 on a house that might only be worth €140,000 (or less??) once it is finished.Does anyone have any recommendations on what I could do to find the potential value AFTER renovation work to see if it is a project worth continuing? I have discussed this with the realtor, but he doesn't seem like he wants to talk about it much ("It is so hard to say, it all depends on what you do, etc. etc."). Big surprise there. I understand what he is coming from but at the same time, a 96m2 in a hamlet outside of Dogliani, Piemonte will not sell for €500,000, even if there were a gold toilet. The geometra gave me a figure (depending on actual work), so I presume someone else could give me another ball park figure when finished, no? I would be looking to make it a second home but would probably rent it out for short holiday lets more than actually live in it.Many thanks.