Home purchase financing with little equity?

Do you have children?

Who estimated the scope of the renovation, you or an expert? Don’t you have to renovate according to the Energy Saving Ordinance when you buy a house and start renovating?

That is probably again such a DSL construct with 7% that hits the customer hard and is supposed to replace equity. If you need even more, you are stuck in the debt spiral. You don't seem to save much equity to approach investments suggestively from it.

As already mentioned, the 20k is enough for the incidental purchase costs, usually the bank finances a maximum of the purchase price + 50% of the renovation. Even if you provide a lot of personal contribution. It's nice for you, however, for a bank it's initially not valuable because you can't really prove it.

The 50k is way too expensive, there are banks that also grant special cheaper installment loans for homeowners. For example Ing-Diba home loan for renovation at 2.99%.

They are fair

No children no plans

Why should everything in the house be fine except for the pipes? That makes little sense. 20,000 euros for the renovation, that will never work. You can easily spend that money on a bathroom. Even if you only want a standard setup here, about 2,000 goes towards bathroom fixtures, but without tiles, etc. For flooring, I wouldn’t calculate less than 25 euros per m². And what good is it to you if you end up living in a house where everything is "cheap"? Do you already have a kitchen?

Then the house is also smaller than your apartment. Keep in mind that you probably don’t have to keep space free for heating and such in the apartment, and possibly even have an extra storage room. Also, the house will bring a significantly higher monthly burden than your apartment.

My advice: with this project you will make yourselves unhappy, look for something else. The house is not exactly a bargain, just by feeling.

I would save up more equity. Without kids and with the rent, it should be possible to save up a five-figure amount quickly.