Can we afford a home?

Hello everyone, my boyfriend and I are currently in the detailed planning phase of buying my parents' family home and partially renovating/modernizing it. Now the financing questions arise for us.
I have listed all ongoing costs, car insurances, taxes, etc. that are due annually/semi-annually, and calculated them on a monthly basis.
Do you think the loan amount is manageable for us?

General information about you:

[*]Who are you? My boyfriend and I
[*]How old are you? 24 and 25 years
[*]Are there any children? No
[*]Are children planned? Not currently, but within the next 5 years
[*]What do you do for a living? He: media technician, me: health and nursing professional
[*]How many hours do you work? Both work full time

Income and asset situation:

[*]What income do you have (gross/net)? 4100€ net + a 13th salary of 2000€ net.
[*]How much equity do you have? No "cash" equity, but high own contribution (work effort)

Expense situation:

Housing costs:

current warm rent: 860€

[*]Electricity 40€
[*]Phone, internet, mobile: 20€

Mobility costs:
All figures refer to 2 cars. All annual installments for insurance and vehicle tax have been calculated on a monthly basis

[*]Insurance: 90€
[*]Taxes: 24€
[*]Fuel: 300€
[*]Repairs: 40€
[*]Is there a second car, motorcycle, scooter? Please provide all points again!

Insurance costs:

[*]Liability insurance (including pets): 10€
[*]Capital or term life insurance: /
[*]Pension insurance (including Riester, Rürup, etc.): /
[*]Disability insurance: 25€
[*]Accident insurance: 5€
[*]Household insurance: 5€
[*]Legal protection insurance: /
[*]Other insurances (e.g. travel insurance, funeral insurance): /

Living costs:

[*]Groceries: 250€
[*]Restaurant costs: 100€
[*]Personal care/drugstore: 70€
[*]Pets (food, vet, medicine, stable costs): 20€
[*]Medications: 5€
[*]Clothing: 150€
[*]Furniture: 40€
[*]Daycare/school fees (and meal money): /
[*]Tutoring: /
[*]School supplies and books: /
[*]Club fees/gym: 15€
[*]Babysitter: /
[*]Toys: /
[*]Cleaning: /
[*]TV/video/audio/CDs/DVDs: 10€
[*]Tickets (football, cinema, concerts, etc.): 10€
[*]Donations
[*]Miscellaneous

Savings:

[*]Vacation: 100
[*]House
[*]Retirement provision
[*]Hobbies/gifts: 50€
[*]Miscellaneous

Other expenses:

[*]Maintenance payments?
[*]Loans? 200€
[*]Mobile phones: 50€

Income and expense totals:

[*]Total income: 4100€ + 13th salary
[*]Total expenses: 2480€
[*]Balance: 1621€
[*]Of which sum cold rent and dispensable savings (e.g., savings rate for house)

Cost summary:

[*]House costs: 170000€
[*]Renovation/modernization costs: 60000
[*]Total costs: 230000
[*]Financing amount: 250000

Necessary loan details:
(for multiple components provide data for all components, for multiple options please clearly distinguish):

[*]Loan amount: 250000
[*]Interest fix period: 15 years
[*]Fictitious total term until full repayment: 27 years and 5 months
[*]Initial repayment rate: 3%
[*]Monthly installment: 973€
[*]Partial repayments possible? (Please state amount)
[*]Repayment rate changes possible? (Please state conditions like number, repayment rate range)

How much equity do you have? No "cash" equity,
[..]
Loans? 200€

A 1000 euro installment would basically still be okay, but with an estimated cold rent of 500€ you already haven't managed to save any money, instead you are paying off debts

Where do the loan details come from? Is that a genuine offer from a bank, or your rough calculation?

I think you should definitely wait a few more years.

That means you currently do not pay rent and consume everything with the good income and have never saved anything?? Personal contribution is not equity!! I do not see a sensible business case here. You are too immature when it comes to finances

That means you currently don't pay any rent

Why, it says 860 warm rent?

If the parents are basically giving away half their house, that's certainly a bargain. Financially, due to lack of equity, I also see the big question of what the actual savings performance is. With your previous income, you haven't saved anything and still have loans? Or what are the 200 with "?" supposed to mean?

I see the problem much more in that you apparently aren't married and are getting into an adventure that binds you more firmly than a gold ring. In my opinion, it is especially necessary to clarify what should happen in the event of a separation, completely unemotionally. A house for 170K doesn't exist anywhere. That means one party already brings more to the table than the other. In the event of a separation, the house would possibly be revalued and then the situation likely looks problematic. One would have to buy out the other and if the value is then 400K or similar, things get tricky. Parents' house gone, love gone, money gone. I wouldn't do this without legal advice.

I agree with on all points.

Asking everyone: Could one perhaps sensibly arrange a lease-to-own here? Although I am still missing the idea of how to properly cover the renovation costs.

Why, it says 860 warm rent?

If the parents are basically giving away half their house, that is of course a bargain. Financially, due to lack of equity, I also see the big question of what the actual savings performance is. With the current income, you have saved nothing and still have loans? Or what are the 200 with "?" supposed to mean?

Much more likely I see the problem that you apparently are not married and are embarking on an adventure that binds you more firmly than the gold ring. Here, in my opinion, it would be above all necessary to clarify unemotionally what should happen in the event of a separation. A house for 170K does not exist anywhere. That means one party already brings more to the table than the other. In case of separation, the house might be reevaluated and then things probably look tricky. One has to pay out the other and if there is then 400K or something similar, it becomes fun. Parents’ house gone, love gone, money gone. I would not do this without legal advice.

Sorry, didn’t see. Doesn’t matter, not representable