Financing Home Purchase Assessment

Regarding financing: If I have to borrow 660,000 EUR and the property is only worth 590,000 EUR, then this is approximately a 110% financing.

I would also be interested in an answer to this from a current perspective (but from the seller's point of view).

Does the bank only finance such a thing with sufficient equity, or is it rejected outright?

Search term ARD Mediathek heat pump is a nice contribution about an old building heat pump with 400€ per month electricity costs for the heat pump …..

Surely a lot went wrong in the design. The report suggests that the lady is heating with the heating element. Of course, that can never work. But that's not how it's supposed to be.

I would also be interested in an answer to this due to current events (although from a seller's perspective) Does the bank only finance something like this with sufficient equity or is it directly rejected?

Presumably, there will still be a strong tendency to fill the gap between the selling price and the lending value with equity. In other words - 20% equity is a good entry ticket. Pure full financing - rather not. Regarding the project here - the amounts are so high that I consider the idea of a €660,000 loan very risky. With 3% repayment, you will end up paying around €2,500 per month just for the loan, which comfortably exceeds the 33% housing cost limit in household expenses. With additional costs (~ €400) it would soon be closer to 50%. Also, another child is possible - so it will become even tighter for a while.

Depends on the buyer's solvency. With sufficient income, a lack of equity is not so bad. Or the buyer has other capital, e.g., an condominium that is still used as collateral.

Unfortunately, no other capital is available... I have scheduled an appointment with a financial service provider, I am curious to see how he assesses the issue. Thank you for the information regarding the energy efficiency rating. How can one determine whether the electrical system needs to be renewed? Can I somehow recognize this, or what problems arise if it does not meet a "new standard"?

what did photovoltaic and air-to-water heat pump cost your sister in total after deducting the subsidy? A financial advisor would surely be better here than the energy consultants….

So you have to be a bit of a businessman…. I'm still considering photovoltaic as a hobby and a bit of idealism, but a heat pump, no matter how I turn it, just doesn’t pay off…

Search term ARD Mediathek heat pump is a nice report about an old building heat pump with 400€ per month electricity costs for the heat pump…..

They don’t pay that much per month. She said around Christmas something like 120€ per month, I think. I still remember that I found it quite cheap because we used to pay about the same for gas earlier and for less living space.

What they paid for the photovoltaic is hard to say. They already had it before, almost 15 kWp in total. But they also have 2 electric vehicles and both commute more than 50 km every day, so photovoltaic pays off economically anyway. I think it plays a minor role for the air-to-water heat pump.