Good offer for a young family? Buy yes or no

in about 20 years we will inherit a nice lump sum of €150k...

I wouldn't count on that. Is this real estate? Is there possibly a way to register a mortgage in advance? Or to transfer something beforehand, that would improve your equity ratio or financing conditions. Olli

Yes, the parents of my wife wanted to have a land charge registered. But I want to do that largely independently of other people.

Believe me, the bathroom is really not nice. There would not be much comfort.

Unfortunately, the heating is an oil heating system and will have to be replaced sometime. [Auf dem Dach ist eine Solaranlage, welche noch bis zu 2032 pro Jahr 2000 € abwirft.]

12,000 € per child in builder’s child allowance, in Bavaria there is an extra 3,000 €. Thus 15,000 €. This was extended until 31.03.2021. So I would not have more than a year left.

We are about 90 kilometers from Munich. Prices here start to get really expensive. The current owner is a rich guy who uses it more than a retreat and is not really keen to make any profit from it.
I am now seeing what my two craftsmen say.

€12,000 per child Baukindergeld, in Bavaria there are €3,000 extra. So €15,000.

On the roof there is a solar system, which still yields €2,000 per year until 2032.

Well, something will come in after all, but it will certainly still be very tight.

Yes, my wife's parents wanted to register a mortgage. But I want to do it largely independently of other people.

Joedreck wrote that you are at 110%, you would have to somehow get down from that. So I would somehow do the registration after all.

Unfortunately the heating is an oil heating system and would also have to be replaced at some point.

Are there any alternatives (gas connection, heat pump)? That could get expensive, oil heaters are - I believe - no longer allowed.

Regarding the bathroom - even if it is unpleasant - I would postpone the renovation until the wife earns more money again. Clean thoroughly and put on a new toilet bowl, that has to be enough for now. Regards, Olli

Believe me, the bathroom is really not nice. It wouldn't feel very comfortable.

You have to make some sacrifice . . . :p

90km from Munich this could be one of the last opportunities for you to purchase anything at all. In the south towards the mountains it is expensive anyway, in the west there is Augsburg, in the north Ingolstadt and the east has also increased significantly with the A94. Of course, it depends on how small the village is and how unique the offer is. I would not miss the chance, everything we looked at with comparable conditions was twice as expensive... Nevertheless, I would keep the bathroom and heating for now as long as nothing is broken. 40k on 430k is already a significant difference. If the parents still live in the house, I would not have a land charge registered. If you have overstretched yourselves, then the parents have to leave their house.

I currently find it too tight with your income as well. You will probably still find a bank that will finance it for you. However, you cannot expect dream conditions and nothing must go wrong.