Financing | Single-family house | Feasibility | 2nd rank

How much equity do you have? How much equity is spent on incidental purchase costs and how much goes additionally into financing the rest? I can understand the bank as well. Or to put it another way, I don’t quite understand why after 7 years of house hunting you are still carrying a mountain of debt of €33,000. Are the "private loans" really from private individuals? Addendum: What does the bank say where you already have the condo?

Well, searching for a single-family house for 7 years is not the same as scrimping and saving to build up equity. If they had done that, they could now pay for the house half in cash. By the way, this is not an accusation, just an attempt at explanation...

Right! We have decided to buy a condo and pay it off instead of putting the money into a savings account.

I am determined not to see any feedback from the forum as a reproach. At the end of the day, it will or it won't, and your feedback is important to me.

If your bank comes to the conclusion that more equity is needed, then you have to put in more equity. How much does it have to be? Did they specify that! Since only €30k of the condominium has been paid off, the condominium is only partially relevant.

The rent just about covers the installment, reserves (only from the current salary) or modernization costs of the housing community, if €5k has to be thrown into a pot, you also can't cover that.

I don't find any of this very appealing. But that's not really my way of thinking.

You can't expect to have everything with your salary.

Currently, there is only the indication that more equity may be necessary. If that is the case, then it is so.

Regarding the condominium: Not "only" 30k have been repaid. The condo has a proven value of 250-300k and an outstanding debt of 120k.

Provisions for the condo are held separately. Once privately and once in the maintenance reserve.

It's not thrilling otherwise I would be sitting on the beach and wouldn't have to calculate back and forth.

Regarding the condominium: not "only" 30k was paid off. The condo demonstrably has a value of 250-300k and an outstanding debt of 120k

But that doesn't help you. The money is tied up in the apartment, the first ranking is occupied, and without an appraisal the 250-300k is just an opinion, nothing more.

Just sell it. In my opinion, you lack the liquidity to bear the risks of a rented apartment, especially when you also consider the other debts (100% financing for a house, cars/student loans, ...). Your own image towards a bank or broker is not exactly good. Salaries are not bad but consumer debts, the desire to bring in as little equity as possible ... either you simply like living on credit and have a strategy for it, or you can't handle money, to put it bluntly. That's how it comes across.