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house for rent in Koln, Germany

570 000€

50765 Köln

Features

  • Keller

Property description

Description of a property: * Semi-detached house, constructed approximately in 1974 * Erbbaurecht is in place, which indicates a share in the land belongs to the property * The size of the property is approximately 209 m² (possibly excluding the wintergarden, garage, and cellar) * Additional features include a wintergarden, full-basement garage, and a partial basement * The property needs some renovation or repair, and no building permit for the wintergarden was found. Based on this information, evaluating the property for a real estate investment and as a lifestyle purchase: * For real-estate investment: Given that the property needs renovation, it may be a good factor to maintain the property's value or make improvements in the long-term. However, you will need a fair amount of financing for this kind of work and a place to live temporarily. The current market value seems relatively high for the existing state of the property (with a wintergarden that is not officially approved), but it is possible you may acquire the property for a discounted price if the current owners are not willing or not able to carry the full weight of required repairs. + As your primary residence, this property offers ample living space in a city with good transport connections and potential rental income from any future tenants during the renovation. * For lifestyle purchase: As a primary residence, the property offers a good-sized living space along with additional amenities such as wintergarden, garage, and basement. The city of Cologne presents the advantage of good infrastructure with professional and cultural opportunities. Some potential downsides are the need for renovation which will factor in your future lifestyle and the partially unfinished basement (which could be a place for storage or a workspace, but without foundations, there might be restrictions for usage).

Location

50765 Köln

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