Construction financing despite EU pension

Okay, that came across wrong, yes.

Why don’t you take him with you to a bank appointment if he doesn’t believe you?

Can you then help with the renovation healthwise?
It’s still not clear to me where the 100k are coming from?
That can quickly cost double or even more.

100,000 euros is the maximum my father would grant me; according to the notary contract, he must agree to any encumbrances affecting the property he lives in. Even this was a struggle because he believes he can renovate the mill for 30,000 euros; it doesn't have to be nice. But who would want to move in then? Besides, there's the consideration that we might want to move there ourselves in a few years. There is a lot of space and it is very nicely located. Furthermore, this is what I have calculated I could borrow without running into problems.

Hmm, difficult situation.

I will initially make the completely blind and gut-feeling assumption that €100,000 is not enough to make the property rentable. Monument protection does not make it cheaper either. Potential funding always sounds great, but it produces a lot of additional costs just to obtain it.

What exactly needs to be done? Can you roughly list the trades and state the square meter number?

Unfortunately, with such tight finances it remains very risky: What if, for example, in two years an unexpected new heating system is needed, or the roof becomes leaky? Where will you get additional money for emergencies if the banks are already blocking now? You would actually need higher reserves.

Given the financial and family situation, I would actually let the mill decay further for now. Everything else is highly risky and can quickly lead to over-indebtedness. I can understand the banks.

So, it looks like this to me: not enough cash on hand yourself and father not exactly helpful either. I would, in your position, first get quotes for the renovation (will the 100k be enough?). Then discuss with a local bank under what conditions financing is feasible. I would try to keep the father out of it. I have the impression that he doesn’t even emotionally support your project because he apparently thinks very differently than you. If it doesn’t work without the parents: either have a frank talk, or put it on ice for now.

I don't find the budget allocation quite right. If I understood correctly, you look at how much money you could get at most (through the loan). The mill is then supposed to be made rentable again with that. You have to approach it the other way around: how much money is needed to get the mill ready? Then add xx% buffer to that. With that amount, you then look at how the financing is feasible.

That was also my suggestion, but on the one hand, I work on a 450 Euro basis, and on the other hand, she does not want to work full-time.

So to my wife because she takes care of our little one and it was her wish from the start that she takes parental leave.

One thing is what you want and another is what you yourself have to contribute.
That is also called stagnation, among other things.

I have a problem that is currently keeping me awake at night and I don’t know what to do anymore.

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