One of the most relevant aspects when evaluating the overall feasibility of the project and the associated Financials is the renovation work which, given the initial condition of the house (see House Choice), is clearly necessary. Estimating the cost of the renovation is a complex matter for two main reasons: firstly, the precise initial state of the house is uncertain; secondly, it is unclear which tasks may be accomplished through DIY efforts and which would require professional intervention. I elaborate on both points below by listing the main issues I anticipate arising during the complete renovation of the house, along with my proposed solutions. Finally, I summarise the calculations using a Python programme: Renovation Costs.
Roof
The roof is one of the primary uncertainties, as assessing its current condition is challenging based solely on photographs. A brief inspection was conducted during a visit by a close friend of mine, yet even with this limited assessment, the roof remains a major variable. It is unlikely to be a feasible DIY project and may therefore necessitate hiring professionals, in addition to the already expensive materials.
At present, we do not know the extent of any potential damage. Consequently, we must rely on approximate estimates, such as prices in the range of €50 – €100 per m². Assuming a total roof area of 70 m², this results in an estimated cost between €3,500 and €7,000. If the roof were to be completely redone, even the most economical options would start from €10,000. Given that the current state of the roof appears decent both externally and internally, I have no reason to assume a complete rebuild is necessary. Instead, we can assume a less favourable scenario involving partial repairs costing around €4,000.
Hydraulic System
The condition of the hydraulic system is similarly difficult to ascertain. Given that the house was built around 1940, three possibilities exist: the pipes may be made of galvanised steel, copper, or lead. The first two options—galvanised steel and copper—offer varying longevity and allow for a less invasive and less costly renovation through relining. However, lead piping presents a more problematic scenario, as it generally does not allow for relining (as confirmed in a phone call with IMEC on 30.05.2025), thereby requiring a complete replacement of the bathroom piping. This more expensive option is estimated to cost between €2,000 – €5,000.
According to the previous owner, the water system functioned properly until it was shut off two years ago. Some work on the system had also been initiated but not completed. In the least favourable case, we assume the pipes are lead and estimate a required renovation cost of €3,000.
Electrical System
Like the hydraulic system, the electrical system was reportedly functioning until electricity bills ceased to be paid—two years ago. Nevertheless, it is almost certainly not compliant with current safety regulations, which could pose problems for some Business Segments, such as Airbnb and Event Hosting.
It is worth noting that the use of solar panels and battery storage is generally unregulated and could sufficiently meet most of the house’s electricity needs. Lighting, for instance, can be battery-powered, and higher consumption points within the house can be equipped with dedicated solar panels and batteries.
Therefore, even in the event of a complete overhaul of the electrical system, we may consider a relatively modest cost of €1,500, which we take as the pessimistic scenario.