House for sale in Schmalkalden, Germany

From a buyer's perspective, this property in Schmalkalden is a semi-detached house with 3 bedrooms, 1 bathroom, and 1 kitchen within a living area of 128 square meters. It additionally offers an unbuilt plot of land in the back and a small garden. The house was constructed in the 1950s-1960s and partly renovated in the 1990s. However, the description mentions that mold has been found in the bathroom, indicating a potential need for significant renovations. The property has a heating system fueled by gas and a warm water boiler that was replaced in 2012. The property is most likely being auctioned due to legal issues or financial difficulties, which could provide a favorable price for buyers. It is listed at €33,398, but you may negotiate a 30% discount, reducing the cost by €9,619. As an investment, this property would need considerable improvements to benefit from property value growth through modernization. It is important to have a thorough inspection of the property before making an offer to confirm the extent of the necessary renovations. Once renovated, it could potentially be rented out as a family home, but currently, it is not in a suitable condition to attract many potential tenants. As a lifestyle purchase, the property may appeal to someone looking for a project to renovate. Patience and good financial resources would be required, as well as a certain amount of flexibility to tackle the potential issues found. It may also appeal to those who are looking to invest in a cheap property for their personal use after renovation. Considering the property's condition and the required investments, we recommend potential buyers to proceed with caution, and ideally, have a qualified expert inspect the property before deciding on whether to make an offer or not.