Financing and purchase of a villa in need of renovation

I summarize: 45 TEUR + 170 TEUR = 215 TEUR

However, additional costs for property transfer tax, notary, and land charge registration will come on top. I can't say much about the amount right now, but let's assume a generous 5%, and round that down... that leaves 10 TEUR. So add that on top and we are at 225 TEUR.

Under the rough assumption that the sum of 215 TEUR also corresponds to the value of the land and the house after renovation, we are clearly at >100% financing. With a 10-year fixed interest rate, we are at about 3.00%, or rather a bit more since it's >100%. 2% repayment then results in a term of just over 30 years with a monthly rate of just under 940 euros.

A lower repayment makes no sense at all in the current interest rate situation (or it will cost you your house in a high interest phase, unless you can then bear correspondingly higher rates). I would urgently recommend working on your own equity. I see your plan as unrealistic based solely on your desired rate. If you can afford a higher rate, you might come to terms with a bank.

PS: Any Kfw or state funding programs, if there are such in Saxony, which might offer you better conditions, have not been considered here.

PPS: Why do you need 180m² alone? Sure, that would be pretty cool... home theater, gaming room, TV room, cigar room, SM room...

Hello robot, you can forget about that. Nowadays, you don't get a loan without collateral, and as @toxicmolotow has already mentioned, certainly not one over 215 TEUR. Better think about another "investment."

Hello

I agree with the previous speakers. Such a low purchase price and disproportionately high renovation share is not accepted by any bank. As a rule, at least 50% of the renovation must be provided as equity. Muscle power is hardly taken into account.