Buying a house without equity at a relatively young age

Is the OP still interested in the question at all?

Yes, definitely, and I am reading along diligently and making my own thoughts. I was somewhat confused in the meantime that there are still people who consider it "wrong" to simply not want children, but that is why I tried to indicate it as "not planned" instead of saying "not wanted." In the meantime, the plans have "changed" a bit because of this house, simply due to family interaction, but the desire to take over the house still exists. By the way, I also find it very interesting to observe what conclusions are drawn about a person solely based on the fact that they say they are a "Master's graduate." Yes, I am a computer scientist, and yes, I can both lay floors and perform other manual tasks ;) But thanks first of all for the many opinions in the round, that has already helped me a little :)

You must not take it personally, but the suspicion usually first arises that certain things cannot be done or at least are difficult without vocational training in the technical/craft field. Exceptional talents may exist, but as a rule, this assumption is correct.

And laying floors was by far the least demanding task of all the projects you mentioned ;)

Good luck going forward!

It’s about renting to the children, and the renovation obligation applies anyway whether the parents or the children buy.
Six-figure renovation obl igation is stupid bar talk. It never existed, does not exist, and is not up for discussion. What is currently required – a new burner and some insulation – does not cost much.

What if the son doesn’t stick to the deal and loses interest in renting the house (even if only because he wants to move after all)? Then you have the responsibility (rental, maintenance, etc.) for a house that you actually don’t want.

The de facto renovation obligation still exists; it has only been postponed by one year. District heating networks (by the way, district heating has also become insanely expensive) will not be built where none exist today. It simply lacks profitability. And a 60s house cannot be operated economically with a heat pump without insulation at all. Even if heat pumps were politically abandoned, a massively rising CO2 price would have a similar effect. Either way, it must be clear that with such a house, you will soon either face four-figure heating bills or alternatively have to invest six figures. That is intimidating enough when it’s your own home. For an investment property, it completely ruins the calculation. That’s why the price of 400k is ambitious (hence my statement about a rather urban location), unless extensive renovation measures have already taken place in the meantime (unlikely). Currently, you might still accept a few years of grace period. But anyone who seriously believes they can still work with such a property for decades without façade renovation is beyond help.

I was a bit puzzled in the meantime that there still seem to be people who consider it "wrong" to simply not want children, but that's why I tried to indicate it as "not planned" instead of saying "not wanted."

It is okay to make such a decision in your early 20s. I know many couples for whom the desire to have children came 10 years later, along with all the predicted loss of income, etc. So if you haven't already taken medical steps to prevent having children, I wouldn't see it as that definite yet, just because of your age. My favorite example is a couple of friends who in their early 30s were vehemently against children and wanted to remain childless forever. Then in their mid-30s the woman finished her studies. Working wasn't really her thing, and she immediately got pregnant :D As for mandatory renovations, I would only be somewhat worried. Either the heating system is already 20 years old, then you have to act immediately and factor that in, or you will be able to repair it for a long time. Maintenance and repair will suddenly be more in demand than ever.

I bought a house from 1964 at the age of 20 right after my training (computer science) without any capital. However, it was "only" 170k Euros with a valuation of 230k. Sure, the first few years were a bit like walking on a razor’s edge – and my income was 50% of yours. I cursed it, enjoyed it, hated it – sometimes a new heating system, sometimes water damage. My friends laughed at me. Today, the envy comes from those who never took any risks themselves.

The house has since been replaced by a new building.

If you are people who can deal with the unpredictable, are eager to do it yourself, and aren’t perfectionists: Go for it – it will be an awesome ride worth it – maybe financially, but definitely in terms of experience :-)

However, "only" 170k Euros with a valuation of 230k.

This is a nice situation from the perspective of banks and customers. But that was 20 years ago, regulations have become tougher, and one has to see how the respective banks handle old buildings. Unfortunately, local banks may say flatly: value is 80% of the purchase price. And this even though all appraisals would result in more. And if you rely on local branch banks with such old houses or difficult financial situations, it becomes difficult. Another problem is that some banks say a renovation only increases value by xx%. Without equity, you can very quickly end up well beyond 110% financing.