A German Mansion for $160K

  • Live Like a King at a Pauper’s Price

    Even though the U.S. real estate markets virtually collapsed in 2008-2009 and continue to limp along at alarmingly slow rates of improvement, the cost of purchasing a home, particularly a large one, in most parts of the country is still hideously expensive and financially out of reach for many. Photo Credit: BasicGov
    Get Out of the Country...
  • Get Out of the Country...

    One solution to prohibitive property prices in the U.S. is to become an ex-pat and purchase a piece of the real estate pie in another country where, for example, one can pick up a massive mansion — albeit a major fixer-upper — in the German countryside for less than the median cost of an average American house.
    And Into the Countryside
  • And Into the Countryside

    The historic village of Augustusburg, where a castle (shown in photo) from 1570 looms over the town, sits about 1½ hours from Dresden and 2½ hours from Prague by car. Just outside of town and with a view of the castle, a monstrous mansion can be purchased for the pauper’s price of €115,000 (about $160,000) to someone with a few extra renovation pennies and some serious elbow grease to spare.
    Is 10 Bedrooms Enough?
  • Is 10 Bedrooms Enough?

    The humongous herrensitz was designed by distinguished Dresden architect Alfred Moritz Hauschild and built in 1875. The three-story manor house measures almost 10,000 square feet with 15 rooms including a ballroom and 10 bedrooms, which ought to be enough room even for Brad Pitt, Angelina Jolie and their ever-expanding family.
    A Restorer's Dream
  • A Restorer's Dream

    Many of Hauschild’s original architectural details remain intact (if a bit tattered) and await restoration. There are intricate mosaic tile floors, elaborate moldings and carved wooden doors and ceilings. One reception room has scads of French doors that open to a terrace with views of the property and a carved wood ceiling currently punished with fluorescent light fixtures that have been screwed into the woodwork.
    The Views
  • The Views

    The bucolic estate spans approximately five acres of ratty and rugged fenced parkland dotted with hundreds of trees. A quaint summer pavilion sits amid the forest and a small stream that meanders through the property.
    Two for the Price of One
  • Two for the Price of One

    An auxiliary structure built at the same time and in the same style as the main house measures more than 1,000 square feet. It too is in dire need of a complete renovation but is perfectly suitable to be utilized as a detached garage, guesthouse, art studio or stable.
    Germany Has Much to Offer
  • Germany Has Much to Offer

    Other German real estate deals include a spooky, 10-room Art Nouveau style villa near Hanover. Built in 1905 and offered at €139,000 (about $200,000), it’s estimated the property will require another $150,000 in repairs, so it’s certainly not for the renovating feint of heart. However, the financial outlay would still cost far less than a stamp-sized New York City studio apartment, and with real estate taxes of only €143 (about $200) a year, it just may prove to be much more attractive than Manhattan monthly maintenance fees that run well more than $1 per square foot.
    Wanna Buy?
  • Wanna Buy?

    The property is being offered for sale by owner at €115,000 (about $160,000). The owner can be contacted through the international real estate concern Viviun. Photos Courtesy of Viviun
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