Good offer for house purchase?

Hello Blurboy,
-It is not directly next to the parents, but I think it has advantages to have the family nearby
-So far, there have been 2 alcoholics in the house who caused a bit of chaos and a lot of damage :). That’s probably why he’s fed up with the house.
-I think we can pay off this house in 10 years and then build something new.
-I won’t need the oil heating often because we are buying a soapstone stove, and I think that as a middle house we are well protected by the outer two houses and therefore require less energy
-The garden is not very big, the living space is 110 sqm and we also have a basement
-100% partner choice ...I have been with my girlfriend for 5 years, and I think if I start building in 5 years, that will still be a criterion with the partner, because nowadays you can’t be sure how things will turn out. If necessary, this house can also be financed alone.
Best regards, Chris :)

CAUTION a house should not be a temporary solution!!! If you already don’t find it so great now and think about giving it up after 10 years, don’t do it and save another 2-3 years and fulfill your wishes!!! Also, you should not forget: -75000€ purchase price -approx. 4000€ notary/property transfer tax etc. -10000€ interior renovation costs and that is nothing -10000€ furniture kitchen and that is also set very very low Deducting the 30000€ starting capital makes around 70000€ That means at around 5% interest it results in a burden of about 750€/monthly plus around 350€ fixed costs per month for the house, making 1100€ with a net real income of 2800€, quite a lot of money for a temporary solution, RIGHT?

Hello Chris,

I just hope that there are no construction defects in the house that a layperson would not immediately recognize.

... and what would be the correct procedure now? Do you want to save yourself the expert knowledge for the assessment of the property?

Hello,
It is not supposed to be a temporary solution either and we also feel comfortable in this environment, who knows... maybe we will stay in it for life. It is simply not too expensive like most other houses, that's why it is a good entry point where we don't have to go into six-figure debt and therefore are more likely to be finished paying it off.
When we have nicely renovated the house and paid it off, "one could" sell the house to have more equity again to plan a new house, but that doesn't have to be the case if you feel comfortable.
We actually wanted to wait a few more years before buying a house, but you don't get an offer like this for so "little" money every day. Most older houses are in the six-figure range and require just as much renovation.
@blurboy, is your calculation planned over 10 years?
@6richtige, my girlfriend's father is a bricklayer and will take a look at everything tomorrow. Or should we get a structural engineer after all, how much does that cost?

Exactly, my calculation is based on your specified 10 years! But if they then feel comfortable and subsequently refinance for renovation of the roof/windows/doors as well as the facade with insulation, these costs will rise rapidly. I have no idea in which region you live, but perhaps a plot of land can already be obtained for 30-40K€ and if you then put up a simple standard house, possibly even a prefabricated house, this is certainly better in terms of standards and will probably cost hardly more than an old house that still sounds like it needs a lot of renovation.

Hello,
If it becomes too much to pay off, you can possibly also commit to 15 years.
In our region, you have to budget between 70 - 90 thousand for the building plot, I’ve roughly calculated it already, we would have to pay a total of 240,000 euros and that is already a huge difference.
We will do the renovation for the roof, bathroom, windows, doors right away and will take out about 40,000 euros for that. So overall we need about 120,000 euros from which you can then subtract the equity of 30,000 euros.
Best regards, Chris