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Search and repair of an apartment in Vinaros

The Client gave instructions to find a cheap apartment in Vinaros, in the province of Castellon. The contract conditions provided for a secondhand apartment located near the center and the beach, with further repairing works.

Among the various offers of the secondary housing market there was chosen the apartment on the circular junction while passing to the center of the city. The photo shows the balcony on the right two-story building adjoining the supermarket.

The photo from the roof of the building shows the street, where the first photo was taken from.

This apartment was favorably distinguished from other offers in that the house was two-story one and did not border with other houses, and the roof of 80 m² square allowed building a winter garden. It was also possible to install a light pool. In fact, the roof belongs to two owners, since there is only one apartment on each floor in the house.

The Client instructed to make a purchase on his behalf. The initial price of the apartment amounted to EUR 58,000. Negotiations on the reduction of the price took place a long time, in two stages. At the first stage it was agreed to reduce the price to EUR 35,000. And then, almost three months later, the agreement was reached upon the purchase of the apartment for EUR 22,000. Commissions to the agent of the real estate company totaled EUR 500. The purchase was made at the price of EUR 22,000. This sharp decline in the sale price was achieved by way of long negotiations and absence of real buyers at the time of securing the deal, who, by their personal reasons, did not notify the Seller about their readiness to complete the sale.

The notary fees amounted to EUR 450. The payment of 10% tax was EUR 2,200. The actual value of this apartment, being defined by the state based on location at the seaside, meterage, availability of the city infrastructure, amounted to EUR 55 000. This is important to understand, because the state on its own behalf offered the sum to be paid amounting to 10% of the value of EUR 55,000, which made up EUR 5,500. This is a preventive measure to avoid substantial undervaluation of housing and reduction of tax amounts. We invited an independent appraiser of real estate, whose value of services amounted to EUR 300, and received the detailed paper on the real assessment of the apartment at the time. The assessment was EUR 28,000. Further, we used services of the attorney to defend interests of the Client in order not to pay the difference in taxes, which made up EUR 5,500 – EUR 2,200 = EUR 3,300. The attorney’s fee was EUR 550. It is not difficult to calculate that the Client did not have to pay EUR 2,450 of the real estate tax.

Further, all the permissions of the Mayor’s office for repairing works aimed at reconstruction of this apartment, including the permission to renovate the electrical circuit, were obtained. The costs to obtain permissions amounted to about EUR 2,500. All the walls and windows in the apartment were demolished.

Thus, we got 80 m² of new building area to equip. The apartment layout was completely redesigned, including window openings and the front door. The interior walls had a thickness of 11 cm, with 4 cm in the previous layout. The number of new bedrooms was 2. The hall was extended to a maximum of 31 m² with the adjoining kitchen - the so-called "American style." The floors were leveled, as well as the high-strength laminate flooring was covered.

The photo of the kitchen and the hall allows to see, how dramatically changed the layout of the apartment.

The floors in the kitchen are equipped with ceramic tiles imitating oak boards. The kitchen is made of solid oak. The kitchen has all the necessary modern equipment and the additional forced ventilation. Also the work table for cooking was equipped with extra highlighting. The marble countertop, the table and the column are manufactured individually, using the method of wide chamfering (to visually increase the coating thickness), the total length of which was 16.5 m. The curtains were made specifically for the size of windows using triple eaves. The curtains design in all the rooms is the same, but it is different in coloring. The walls are covered with interfacing embossed wallpaper.

We used the possibility to deliver materials through the roof of the building, which accelerated the works.

The special construction equipment was used to repair the façade.

Also, we complied with all the requirements of the Mayor’s office for repairing works and removal of construction waste.

When performing the commitment, we sought to use the most favorable offers of contractors. For example, we considered three proposals of conditioning the housing. While outfitting the fresh air ducts inside the premises and equipping the units on the roof, the offer amounted to about EUR 5,500. The offer to equip air conditioners from one device with wiring the rooms was about EUR 3,500. While equipping air conditioners in each room, the sum of expenses, including installation, amounted to EUR 1,600. As it is obvious from the example, we were able to save about EUR 2,000. The similar examples can be given for the purchase of construction materials and their delivery to the site. The saving was up to 25% of the offers of construction stores, directly located within the urban area. We bought materials under the offers of wholesalers, and, although the transportation costs were higher, the overall savings amounted to more than EUR 5,000.

We filed the application to connect the apartment to the central gas supply. The photo shows these works.

It should be added that the apartment was equipped with the individual water supply including installation of 300 liters water tank and self-pump having the automatic adjustment of the pressure; the devices for softening water and osmotic water purification were connected up and the automatic gas water heater was installed. The shower room was equipped with the forced ventilation. The marble table for washing with built-in sink was made. The mirror was manufactured upon the order, and it was equipped with the special highlighting for convenient personal use.

Also the connection point for washing machine under the table for washing-up was prepared.

Under the order there were made interior doors of solid oak with tinted and semi-gloss coating of 80 cm width.

When installing a new front door we had to change the location of the doorway on the staircase landing. The extra highlighting of the door and the new intercom system were installed.

The front door is of high reliability.

We would like to conclude this example by description of works on decorating the entrance hall. Its length amounts to about 5.5 meters with the corridor width of 110 cm. The entire wall located opposite the front wall, was made with plaster bas-relief of the urban landscape. This technique is considered to be labor intensive one, as it takes a lot of working time. However, this work is unique in its individuality. The photo shows the city lantern, which is switched on as night illumination. The highlighting of the house windows, the stars and the moon are also switched on. Unfortunately, we did not take the panoramic picture of the entrance hall in night illumination, but the submitted photos give an idea of the personality of these premises. Also for finishing the walls of the corridor there was used the decorative plaster with imitation of wood bark.

The whole apartment is equipped with suspended ceilings having spotlights and two circuits of lighting with dual switches. Also the apartment is throughout equipped with sockets having antenna and telephone connectors for the Internet, and they are equipped in such a way that with any placement of furniture they are available in sufficient quantities without connecting extension cords. The satellite and local antennas are equipped on the roof.

Summing up all expenses of this transaction, this apartment with construction works total area of 80 m² came for the Client at the cost of about EUR 73, 000, that specifically makes up 900 Euro/m².

The estimated insurance value of the apartment amounted to EUR 95,000. The amount of the annual insurance payment was only 150 Euro.

The total time for purchase and repair of the apartment by forces of two workers was almost five months.

It remains only to add that all the visitors of this apartment note its originality and the individuality of project execution. The real estate representative, participated in the sale, refused to believe in the reality of such a radical and easy to use re-equipment of the housing sold and loss of their expected gain from selling at such a low price of the sales contract.

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