Desirable property affordable? Experiences?

If you think about registering yourself temporarily as a bogus self-employed person, then have fun and I hope for an audit, although it doesn’t really matter, but if that’s the case, the exploitation of my tax money really pisses me off.

but unfortunately this happens very very often in practice. It’s not an insider tip either, but rather tax 101. unfortunately!

When it comes to finances, I am out, except for the note: the bank has to want to! And it usually doesn’t want to with a sole earner. Exceptions: very high salary of the sole earner, a lot of equity, etc. The bank assesses the current situation and not what could be. This means: ONE income currently for you.

Does the 3rd child really make a difference?

Yes, you still can’t work full-time.

We will evaluate a few more options and also reassess the renovation needs in detail.

With a construction year of 1965, I see less of a renovation and more of a refurbishment. Almost everything has to be new: insulation, possibly windows and electrical systems.
Then there are the OPTIONAL costs, including floor coverings, kitchen, and new sanitary installations.
The latter might be 40-50 thousand, even with subsidy, but the former is rather six-figure or with a lot of exhausting subsidy after work and on weekends. Would you both want and be able to manage this for half a year, possibly with parallel costs for repayment and rent?
And I bet the current owner also knows about the refurbishment. Older houses don’t move currently; anyone who wants to sell their house deals with the regional possibilities and offers them as a premium.

In principle, I think the house number is also too big, better a smaller terraced house with manageable costs.
It’s often the case that one is tempted spontaneously and thoughtlessly by an “alleged bargain” instead of addressing the costs or house prices concretely and in the long term early on. Because then you know where you stand financially regionally.

Have you even been to a bank and asked about your limit? Do you know what houses usually cost in your area?

And here is another parallel thread with a similar project, just completely different numbers
https://www.hausbau-forum.de/threads/finanzierung-efh-kaufpreis-365k-baunebenkosten-150k-sanierung.44860/

The detached house in post-and-beam construction built in ’76 (living area 166m², plot 670m², pitched roof 30° fully basemented, first roof - converted but uninsulated, first water pipes made of copper, first electrical wiring, bathroom 2003, gas central heating from 2017) costs 365k + purchase incidental costs (including realtor) + planned 200k investment.

The planned renovation and refurbishment costs consist of:

- 20k kitchen
- 15k floors, walls and doors
- 25k windows
- 45k roof insulation + roofing
- 15k photovoltaic
- 20k electricity
- 20k water
- 40k exterior insulation including removal and disposal of asbestos cement panels

Your problem is really the low equity. Saving for a few more years or getting support from your parents is, in my view, almost the only chance.

Renting out would also be an option, but in your case, you would first have to invest for that. For reasons of the lower installment and because you can't have everything, we decided on a two-family house that we are now renting out. Thread for you to read: [Hauskauf 50er Jahre im Kaufberatungsforum].

Harakiri !! You have utility costs of over 300-400 € per month in an old house!

Harakiri !! You have additional costs of over 300-400 € per month for an old house!

that will not be enough without comprehensive renovation/refurbishment. The place will be somewhere around energy efficiency class G - H. Especially the old houses from which the previous owners usually died out often have not even received the minimum care in the last 10-20 years. In the current situation, you don’t buy something like that.