House purchase, requesting opinions on financing

House from 2008 and now the underfloor heating is broken??? I fear the worst!!!

No, OP probably wants underfloor heating :)

At a rate of 800-900 € per month he may be right :) But that's 3% repayment. Maybe he meant 3% repayment with 1% interest :) I would find another finance guy. He seems very shady to me.

oops - error in quoting - sorry

How sure are you that no more work needs to be done on the house? Is there a valuation report, has the house ever been inspected by an expert? Why is the house now for sale? If it stays at the sum, it will surely be fine. If expensive renovation work comes up, well, it will be a bold decision.

The house is located in a small town in a quiet area with an unobstructed view of the Main valley. The current owners find it too quiet here now. They have now bought a house in Bamberg and are selling this one. We have not yet commissioned an expert, so we also know nothing about structural damage or anything else.

House from 2008 and now the underfloor heating is broken??? I fear the worst!!!

The underfloor heating is not broken. The house is completely finished on the ground floor; nothing has been built out under the roof yet, but all supply and disposal lines are already installed. According to the agent, nothing was built upstairs because the builders only rarely lived in this house. Apparently, they also have a house and a company in Spain...

How secure is his savings rate? Has he maintained this savings amount over a longer period?

He has maintained this savings rate for a longer period (several years).

What interest fixed rate is planned at 2.9%?

10 years.

Why does the upper floor have to be plastered after 5 years?

It does not have to be plastered again; it was never plastered!

What does "good location" mean?

Good location is probably rather relative. We come from Franconia, the house has an unobstructed view into the Main valley. The plot price is supposed to be 80€/m^2.

Hi,

with a 10-year fixed interest period and an initial repayment rate of 1%, you have a very high interest rate risk after 10 years. €620 is not enough either, it's more like ~€650.

After 10 years, i.e. when the fixed interest period expires, you have an outstanding debt of €178,000. If the interest rate rises by 2%, your follow-up financing installment will be €950, at 4% €1250.