Divide financing credit or use up cash funds

Hello everyone,

we will be buying a house soon. Since the building permit has not yet been approved, we are currently facing the question of how to approach the financing.

Two possibilities come to mind:

1. We buy the house with our own cash and then take out a loan for the renovation at the appropriate time.
2. We buy the house and already take out a loan for this now and a second one at a later date for the renovation.

We would be grateful for an assessment of whether one option is better. We are aware that, regarding interest rates, it can be better or worse depending on the rate situation. But how is it with commitment fees, the lack of equity in the second loan (but of course also a house as collateral, although part of the house is financed as a private loan. Does that cause problems then?), etc.

Thanks in advance

In the end, it is only a question of the crystal ball how you assess the future development. Otherwise, both approaches are basically identical in terms of the result.

I would probably avoid two loans at two different times.