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we did it the slow and very expensive way ie. total renovation.mainly because large tracts of the building were sound otherwise there would have been no question and we would have gone for new build. Techniques today are such that a new build especially where old materials are integrated can look absolutely fine.The benefits can be immense.you can have new state of the art insulation,absolute sismic proof foundations and shell for the building, better ad hoc disposition of spaces and rooms,logical electric/water heating systems etc. given that the ball park figure for restoration to builders finish on a place the size of yours would be probably not less than  Euro 450.000,00 before the rest.I think you would save significantly on a new build.Don't let people convince you just because there are some pleasant niches in the old building that you've got to "save" them you can get builders to make a new crooked niche if you can't do without!

others will differ in what they say but to my mind its almost a no brainer.. traditional looking restorations as a finished project will cost you in the region of 2000 euro per m sq, thats including fees and planning say and you are looking at 600,000 for your building..  new builds around 1500  renovative restructuring work obviously less.. eg a new roof to todays modern insulation and regulations on structure around 1700 per sq m .. my 2000 euro per m sq is conservative as regards an estimate and  i would not be led down that path by lower quotes which will leave out many of the extras.. like tiles and wiring, fees and planning permits and outside finishing work.. and then add in the initial ground works.. plus buying the ruin.. re returns.. what you will pay and what you will get back if you sold it have no relationship as you will pay a lot for this sort of work and the prices will depend on its location re cities and or sea.. ie building land or land with old buildings on will cost you a lot in prime locations.. if you are buying a farm house ruin in a non prime location ie.. not within a couple of km of the coast or a major city.. you will most probably never get back in your life time what you put into it..by a long way fixed prices..  a joke here... there are always clauses for extra ordinary work which was not taken into account when the quote was made.. my prices might well be a bit low due to newer building regulations re insulation and thermal efficiency          

As adriatica suggests, whichever route you go you are unlikely to make your money back!  I'd say you will have a much better chance of re-selling a new build (looking traditional) to an ��������, than selling a restoration job, but if it is to appeal at all to an �������� it has to be in a 'convenient' location, (with schools and work nearby.) A new build, as sebastiano says, will also be a much more comfortable place to live in. In theory you should be able to get closer to a 'fixed price' on new build, but avoiding nasty surprises depends on you and your geometra being very precise when writing up (and understanding) the computo metrico, the equivalent of a bill of quantities.

I've got to say that I completely agree with the comments of sebastiano, adriatica and fillide. Many people after spending large sums of money on a renovation project are in denial of the resale value. Not because the renovation was done badly but because the relative isolation of many of these properties makes them unattractive to the wider (��������) market. This may offend some people on here as well (and I apologise in advance) but ask yourself why a ruin became a ruin in the first place.

Agree with the good advice, our farmhouse was restored and livable, but what was intended to be a renovation of outbuildings to realise an apartment , turned into a nightmare of a total restoration. It gave us a much better build in the end and thanks to the efforts of geomatra and architect did not come in at much more cost. But I believe we were the exception to the rule.

I also agree with all the good advice above.  If at all possible I would recommend the approach taken by Angie & Robert, i.e. buy somewhere already restored (we did the same). I think an interesting question potential buyers would do well to ask themselves is "Were this 'ruin' in the UK, would I buy it and take on its restoration/rebuilding?".  If the answer is anything but an unhesitant YES, then consider that there will be the additional problems of laws that you do not know, building methods with which you are completely unfamiliar, tradesmen you don't know and language issues (and how these could be (ab)used by the unscrupulous!) - plus you may or may not be on site for the work. IMHO restoration is a game best played by those with good nerves and deep pockets.  Just my 2c worth, maybe I'm just a skinflint coward.

Robbiemarche - consider a building plot too rather than knocking down an old building. There are plenty around and in nice positions too.