Building savings account is due for allocation at the beginning of 2016 - Continue saving?

Above all, most people receive it as a gift from their parents or similar (early inheritance) – very few have saved such amounts themselves at that age. Often there are also land donations involved...

With construction sums, 30% equity and building around the age of 30 is very difficult – but not impossible. We had the desire for a home very late and then something came up at short notice. We went into financing with just under 18% equity, which also includes the EL...

The 10,000 euros in the instant access savings account should definitely be kept back. Renovations are expensive but can be worth it. I think, given your income, a payment of 1,200 is quite realistic and manageable. I would simply get offers for a loan. But I think that 60,000 euros for a renovation is very tight. Bathrooms are usually very expensive and all new piping sounds like the house will first be gutted. Which is definitely a good thing. I would first see what kind of offer the bank makes you. So purchase price plus renovation. After that, you can still consider whether to save more or not.

Above all, most people receive this from their parents or similar (early inheritance) - very few have saved such amounts themselves at that age. Often, land gifts are also involved...QUOTE]

I see it similarly; in our case, without any inheritance, we would have about 20% including equity. :oops: @nena, with your secure income due to civil servant status, I would have no concerns. As already mentioned, I would still keep the 10,000 euros for possibly unplanned expenses. For example, a car, utility costs increase, or similar. Of course, you must be aware that the interest rates might be set higher due to less equity. But even so, until you have saved the 100,000 euros, this interest rate is probably significantly higher.

Thank you for your responses. Unfortunately, we just learned that there is a buyer for the house. However, we will continue to search within this price range.

How much would you actually estimate a renovation to cost? Is €60,000 for windows, bathrooms, front door, floors, walls, etc. without the roof and without heating set too low?

No one can tell you that. It depends on your house and your wishes. A bathroom can cost €5000, but it can also easily run up to €50,000.