Buying the ugliest house in the pretty neighbourhood

[Christoph Heim]

Hi,

I am struggling with a deal I am interested in. It is a 75m² 3 room apartment in the city center. The location is ideal, newly built objects go for EUR 4.000+ per m². This only costs 1.200,00. The downside is that the building is quite old (1935) and run down. The plaster is coming off in various areas on the outside. I have not inspected the apartment yet but according to the pictures it should be well kept but heating is done via a wood oven (I suppose infrared heating could solve this problem). As far as I have seen there are 8 parties in the building (presumably lower income). I do not know if there is any kind of management looking after the building. The problem is that I alone will not be able to change anything because of the owner community and I am not sure whether the other ones can or want to afford that.

[Brent Coombs]

@Christoph Heim, buying one apartment in the ugliest apartment building in the pretty neighbourhood is not the same as what your thread title suggests! Do you get the difference? You'd need to buy the whole building!

Then we can talk Real Estate success! Cheers...