Financing purchase project single-family house 580TE before upcoming parental leave

Hello and good day everyone,
I would like to get some food for thought / input here from homeowners and experts! Since everything is happening quite quickly / on short notice, I am grateful for any brief assessment.

Single-family house 580TE, built in ’55 / extension 1970, about 800 sqm, well maintained, heating from 2019, renovation need approx. 100-120TE (estimated by the architect),
Must: bathrooms, floors, kitchen, doors, electrical / water pipes (do these have to be replaced if they are from the construction year?)
Should / can: windows (wooden frames), insulation (the house from 1955), attic, basement ceiling, paint exterior facade

a brief note about us: household income (before parental leave) 6000 Euro, equity 120TE (plus buffer 20-30TE),
married, 1 child, (2nd coming at the end of the year), we are 34 and 35 years old

we are torn back and forth... and grateful for input

Single-family house 580TE, built in 55 / extension 1970, approx. 800sqm,

800sqm living space?

we are torn back and forth... and grateful for input

What exactly are your questions?

Renovation needed approx. 100-120TE (estimated by the architect), Must: bathrooms, flooring, kitchen, doors, electrical / water pipes (do you necessarily have to replace those from the year of construction?)

Wow – others renovate their houses completely to new-build standards for that. Replacing water pipes makes sense if you’re tearing everything open anyway. After all, they have seen several generations of residents.

Should / can: windows (wooden frames), insulation (the house from 1955), attic, basement ceiling, paint the exterior facade

What does “attic” or “basement ceiling” mean?

briefly about us: household income (before parental leave) 6000 euros, equity 120TE (plus buffer 20-30TE),

And during parental leave? How long parental leave? You leave more questions than you actually write ;)

800sqm living space? What exactly are your questions? Wow – others completely renovate their houses to new build standards for that. Water pipes make sense if you're tearing everything up anyway. After all, it has already seen several generations of residents. What do you mean by "attic" or "cellar ceiling"? And during parental leave? How long parental leave? You leave more questions than you actually write ;)

Sorry, I wanted to present everything with few infos... didn’t work. 800sqm plot, 170sqm living space Insulate / insulate attic, insulate cellar ceiling Parental leave about 1.5-2 years (my wife then gets 1800 parental allowance, plus 2x about 200 euros child benefit)

You mean 120TE is too much? We relied here on the statement of the architect (who, to his defense, only knows the exposé, pictures, and our information, as everything is still very new)

I read your text and can only say that nothing is clear?!?

580k€ plus or including additional purchase costs?
120k€ equity going in fully or at what percentage?
6k€ income now but how much during parental leave

And do you really want to tie yourself to a construction year where everything can break that you haven't renovated yourself, since you don't know how thoroughly the previous renovation was done?

So for a 700k€ volume with an almost 70-year-old house, you must have already scoured everything within a 30km radius.

I read your text and can only say that nothing is clear?!? 580k€ plus or including purchase incidental costs? 120k€ equity fully invested or at what percentage? 6k€ income now but how much during parental leave And do you really want to commit yourself to a building year where everything can break down that you haven't renovated yourself, since you don't know how thoroughly the previous renovation was done? So to pay 700k€ volume for an almost 70-year-old house, all options within 30km must already be exhausted.

Feel free to provide more info: 580TE plus 10% incidental costs 120TE can be "fully invested" During parental leave about 5000 income (Me, her plus 2x child benefit) thanks