House for sale in Meißen, Germany

I will provide an estimate from a buyer's perspective regarding investment potential and lifestyle benefits, based on the given property description. Location and Amenities: The property is located in Meißen, which is a beautiful historic town lying on the banks of the Elbe River. It's known for its rich heritage, revealing Medieval structures and many sites featuring Baroque, Gothic, and Renaissance styles. A desirable location is generally a plus for real estate investment. Investment Potential: 1. The described property consists of a former residence and commercial premises, with a total living and commercial area of ​​ approx. 390 m². Buyers who are considering renovation projects or combining residential and commercial spaces for income generation may see investment potential here. 2. The building is in need of renovation, which generally means a lower entry point for investors. However, consider the potential cost of renovation—it could be significant due to its size and potential historical protection considerations. 3. The current rent in Meißen is given at €7.68/m² for spaces of about 60 qm, which is not a high rental income relative to the property price. This could be a factor to consider if you're aiming for a high rental yield. 4. The 2,600 m² land area is on the larger side, which might be an attractive feature for urban expansion or changes in zoning laws in the future. Lifestyle Benefits: 1. The former residence and commercial space being located in the heart of Meißen's historic center provides the potential for a comfortable living space, as well as exciting opportunities for running a commercial operation. 2. The size of the property offers the potential for creating various living spaces, providing extra rooms for a growing family, or divided spaces for additional income through renting. In conclusion, this property holds potential for both personal lifestyle improvements and as a real estate investment, depending on factors such as your budget, intended use of the property, and market conditions in Meißen. Consider the need for significant renovation work and research the local market thoroughly.