Buy a condominium for the time "after the house"?

They are currently not paying market-standard rent. I asked the manager and he said that the current owner is also of an older generation and has waived rent increases for about 10 years.

The tenants do know that with the change of owner the rent will

How much is missing to reach the market-standard rent and how much of that can or may you actually compensate through an increase?

I see the problem here that the building, at almost 30 years old, is now at a stage where a lot needs to be done. Energy-efficient renovation will become necessary at some point given the year of construction. The bathrooms will have to be renovated at the latest when tenants change. With a high equity input (low equity ratios are more common in rental investments), the opportunity costs should not be underestimated. And whether you can manage the tenant turnover according to your schedule is also highly questionable.

First of all, thanks , and for your responses!

We have calculated it, it doesn't make sense! The seller is handing over the place just before the big things become due. Currently, the heating system is supposed to be renewed, which will probably use up a large part of the reserves, as mentioned, but according to the administrator, there should still be enough reserves left…

Our main point, because we were there again today... the staircase in the building that leads to the apartment is quite narrow and winding. We didn’t notice that at all yesterday! You can bring furniture up, but it’s all rather tight. Also, visitors or our second car would have no parking space, since all the existing parking spots are taken... you would really have to look for a parking space far away. But honestly, the staircase discouraged us the most.

We did realize that we like the idea of an apartment, but not one like the one we viewed.

In the building with an elevator, the stairs are rather unimportant. We once had an apartment on the 9th floor. Everything would be possible with the lift. Even the move.

First of all, thanks , and for your answers!

We crunched the numbers, it doesn't make sense! The seller is giving up the place, practically just before the big things are due. Currently, the heating is supposed to be renewed, which will probably use up a large part of the reserve, but as mentioned, there should still be enough reserve according to the property manager...

Your idea is not bad at all, I did it that way too.
Rented out a house, bought a small apartment.
Then it was too small for me, bought the next apartment and noticed that small apartments rent out great.
Easier than with a house because there are many more interested parties.
Repeated the whole thing 6 times and now the tenants are basically financing my new house.
I find grilling on a terrace nicer and living forever in a block is not for me.
I could also leave my small house alone for months if I felt a urge to go abroad.
The location is the only important thing and a mini garden that requires no maintenance.
You probably won’t find an apartment that fits 100 percent. I searched myself for years.
Two parking spaces are almost never available in your price class, mostly one + 0.5 for visitors or even less.
As you, 70% equity I was miles away from and a super interest rate is no longer available at 50+.
The art lies in doing and not just talking.
Of course, it also takes some patience, looking on the internet forever to be the first to write to (private) sellers.

Where one has to ask whether one really still needs 2 parking spaces in the "age" apartment. Isn't a maximum of 1 car enough there?

In a building with an elevator, the stairs are rather unimportant. We once had an apartment on the 9th floor. Everything could be done by elevator. Even the move.

The elevator is not very spacious.. I haven't measured it, but I doubt I can normally fit 1 person + 1 sofa (even upright) in there.

Your idea is not wrong at all, I did the same
rented out a house, bought a small apartment
then it was too small for me, bought the next apartment and noticed that small apartments rent out perfectly.
Easier than with a house because there are many more interested parties.
Repeated that whole process 6 times and now the tenants are just financing my new house.

Congratulations! We'll see, we'll just keep watching

Although one has to ask oneself whether you really still need 2 parking spaces in the "senior" apartment. Isn't max. 1 car enough there?

We asked ourselves that question too, in theory we would still have a few working years ahead of us in 15 years if we had to/would carry through till the end. At that time, we would be traveling with 2 cars, afterwards probably rather not, that's true.