Good offer for house purchase?

Moin Moin!

First of all, it is complete nonsense to wait with buying or building a house, since firstly the financing interest rates are rock bottom and secondly, whether the relationship will last you can’t know even after 20 years.

Regarding the renovations!
I am now 23 and have built a single-family house. We did the tiling and painting as well as plumbing and electrical work ourselves. Oh yes, the outdoor area was also done by ourselves. But what I want to say with that is, calculate exactly what sum you will end up with if you renovate yourselves. If you don’t save a significant amount there, don’t put yourself through the stress.

Don’t worry about the heating costs, the wood stove will keep the place warm. (Costs for wood to be considered)

Best regards and good luck.

Wernersen, your optimism is all well and good, but it seems like you’re making life a bit too easy for yourself! Buying a house is not something you do on the side and should always be well considered. Sure, at 23 years old you might not see it that way yet, but you shouldn’t blindly give such backing to other people for it!
A. Whether the relationship holds, you never know—that’s absolutely right—but you should have a feeling whether it fits well or not, and building stress has already ruined many relationships and marriages.
B. Just because the interest rate is currently low doesn’t mean you have to put yourself under pressure! It is certainly advantageous at the moment, but given the world economy, I wouldn’t be surprised if it keeps dropping or remains stable next year.
C. Advising people to buy a house just because they currently think it’s a bargain, even if it apparently doesn’t really suit them, I also find a bit fatal!
D. The thing with heating costs etc. is really the ultimate shock; you can’t tell people not to worry and that a fireplace will fix everything when you don’t even know the house???
The way that sounds to me, the house spreads over 3 or 4 floors, possibly has old leaky windows, an old uninsulated roof, as well as an uninsulated facade.
If Chris now goes to the hardware store and buys a 3kW fireplace, are you trying to suggest that he’ll keep all floors nice and warm at minus 15°C? Apart from the fact that no statements can yet be made about whether installing a fireplace is even possible so easily!
Especially nowadays, saving energy in your own home is essential and that should never be overlooked.

Morning Blurboy, no, you don’t buy a house on the side, that’s why Chris is inquiring!

Regarding A: Well, I assume that Chris wouldn’t be looking at a semi-detached house together with his partner if he didn’t feel it was something serious.

Regarding B: No, you shouldn’t put pressure on yourself because of the financing interest rate. I just mean that the circumstances are quite good at the moment. And waiting because of age now, I also find very stupid. But that’s a matter of opinion. I’m quite glad that I built my house and don’t regret it at all.

Regarding C: I don’t know who you mean. I haven’t advised anyone to buy. I just expressed my opinion.

Regarding D: Of course it’s difficult to heat two floors with a 3 KW stove when there are old windows. But Chris will take a close look at what is installed in the semi-detached house.

I’m correcting myself!! If simply glazed wooden frame windows are installed there, expect higher heating costs. A little tip from me: call the energy supplier and ask what advance payments have been made for the property.

But okay, let’s leave it at that.

My opinion is simply that it’s great when you can already acquire property at such a young age.

Regarding A: It is probably not a very intact terraced house, which he might have wanted to sell again after 10 years of repayment in order to buy a reasonable one (just ONE idea of his).

Regarding B: No, the moment is good, but if I speculate, I'd rather build something myself, only the money is missing. When you are young and still have time, you should rather save for 3-4 more years instead of opting for a temporary solution.

Regarding D: Yes, Chris has looked and according to his statement, there is a lot of renovation needed, which for me initially sounds like a high energy consumption value. He will certainly not be able to determine the advance payments because it is an oil heating system that is surely operated with local tanks, and especially the heating oil price has shown astronomical changes in recent years, making an estimation of the costs virtually almost impossible.

Property at a young age is of course great, but it should not have been caused by youthful recklessness and purchased or built prematurely.

Hello you two :) It is a mid-terrace house, where you only have 2 open house fronts that lose heating costs, which I would say is already an advantage, there is an oil heating system, a wood stove will be installed. Roof, windows, everything related to heat loss will be renewed. According to my calculations, we come to a renovation sum of 50,000 euros (well estimated and rounded up), meaning that we have a total price of about 130,000 euros from which the equity has to be deducted. Sure, paying it off in 10 years probably won’t work, I’ve already been talked out of that. We have already been to the bank, but we will still go to several banks to get advice. It is not meant to be a temporary solution! I only said that it "could" possibly be sold once the house is paid off. If we wouldn’t feel comfortable in this area or in this house, we wouldn’t buy it. And as I said, of course, we would be even happier if we could build a new house, but one has to make compromises because we cannot borrow 240,000 euros. That doesn’t mean we won’t be happy in this house we want to buy now. Best regards, Chris