House donation by parents in 2-3 years - buying out siblings

Have a nice Sunday everyone,

A brief introduction about me :)
32 years old, married (wife 31), 1 child and the 2nd (and last) is coming in January ;)

My parents have informed us (me + brother) that they want to move out of their house in 2-3 years and gift the house to me. I therefore only have to buy out my brother. We are currently looking for the fairest (financial) solution.

We estimate the house value at 400,000 - 450,000€, meaning I would have to pay him around 200,000-225,000€. I currently have a bit over 150,000€ saved. We would still want to do some work on the house.
Remove the hallway and kitchen floor and install new tiles, new kitchen, new cork flooring upstairs, new windows and front door, new staircase, possibly insulate the attic floor and install low-temperature radiators.

My brother also bought and partially renovated last year but still has some bigger projects pending, and with an "advance payment" from me these things could be realized faster.
We are currently asking ourselves how the valuation could be done as fairly as possible..

Example calculation:
Payout value today: 200,000€
Advance payment: 30,000€ (15%)

House value 2024: 450,000€
Payout amount 2024: 225,000€ - 15% = 191,250€

Would that be correct and fair?
Or do nothing and increase equity in 2-3 years with the loan?
Are there any experiences/advice regarding this?

Thank you very much and have a nice weekend.
Best regards

That would mean that you are lending your brother €30,000 for 3 years at an interest rate of almost 8%. Whether that is fair, I leave to your judgment...

Example with numbers:
Amount to be paid out today: €200,000
Advance payment: €30,000 (15%)
House value 2024: €450,000
Amount to be paid out 2024: €225,000 - 15% = €191,250

You could also lend your brother the €30,000 by offsetting it against 15% of the payout from the house.

I also think that at the current interest rate level close to zero, the absolute amounts today and in three years should rather be used.

Couldn't you buy the house now? Your parents could then pay the amount to your brother and the right of residence / rent will be offset.

hmm, I find it difficult when you cannot participate in further "value appreciation" but do not get the full money as of today.

so the options:
you settle it as of today, value: 400 TEUR
assuming the parents stay there for another 3 years. the rental value (simply calculated, as an example!) 600€ per month = 21,600€
thus I would set the value at 380 TEUR, 190 TEUR goes out to the brother.

the other option:
the parents move out in 3 years, in 3 years the house will be transferred to you.
the value in 3 years (as an example) is 500 TEUR.
so you pay 250 TEUR to your brother.

because if you give your brother 30k now, then of course you can deduct it from the 250 TEUR in 3 years. But as long as he does not get 100% of his share immediately, I would see no reason why he should not also participate 100% in the value appreciation. Everything else is unfair!

of course, you can also charge interest on the 30k, 2-3%, or whatever you pay the bank for it, or what else it costs you. That is also fair.