Is it possible to buy an existing property with our income?

joint income fluctuates between 3200-3400 net. Our equity amounts to 40k. A child is planned with us in the next three years. Currently, we rent (warm 450 €) and go on vacation twice a year. The properties we are looking at cost between 120k-130k,

Bargains. The additional costs without an agent amount to 5% property transfer tax and 1.5% to 2% notary/land registry fees, so up to 9100 euros (let's say 10,000 euros). This leaves you with 30,000 euros equity, so you have to take out a loan of 100,000 euros. Assuming 3% p.a. (conservative today) and an annuity of 1000 euros, you pay off the loan in just 10 years, after which you are debt-free.

Now it's your turn, you can do some calculations ...

The question -- which others have already raised -- is what you get for 130,000 euros. Look at it critically with someone who knows about this and then add the renovation/modernization costs.

You should do the other calculation assuming only one income.

Thank you very much for your answers. The financing is designed so that a partner can repay from the beginning, as security is very important to us. When making a purchase decision, we definitely want to have an inspection with an appraiser beforehand. For now, though, it means waiting for the desired property :)