Is purchasing a house and complete renovation affordable?

I deliberately did not say anything about the previously mentioned statements.

To give an update:
The architect says that the complete renovation will cost 330.00 euros. (Own contribution about 50,000 euros) = 280,000 euros core renovation
This includes 200,000 euros for the energy-efficient renovation.

We have also spoken with our energy consultant. We are planning the whole thing for 2 completed residential units, so that through program 261 of the Kfw a loan amount of 300,000 euros for the energy-efficient renovation is possible.

According to the energy consultant, it will probably end up as an Efficiency House 70 EE, so a repayment grant of 25 percent is to be expected (15 percent for the Efficiency House 70 EE and another 10 percent because it is a worst performing building).

The energy consultant roughly estimates the energy-efficient renovation costs at 200,000 euros as well.

We now have bank appointments next week to discuss further.

Fingers crossed that the appointments go according to your wishes. =)

I deliberately said nothing about the previously mentioned statements. To give an update: The architect says that the complete renovation will cost 330,000 euros. (Own labor approx. 50,000 euros) = 280,000 euros core renovation Included are 200,000 euros for the energy renovation. We have also spoken with our energy consultant. We are planning the whole thing for 2 separate residential units, so that through program 261 of the KfW a loan amount of 300,000 euros for the energy renovation is possible. According to the energy consultant, it will probably result in an efficiency house 70 EE, so a repayment grant of 25 percent is to be expected (15 percent for the efficiency house 70 EE and another 10 percent because it is a worst performing building). The energy consultant roughly estimates the energy renovation costs also at 200,000 euros. We now have bank appointments next week to discuss further

What is included in the renovation calculation? 330,000€ for 130sqm I actually find quite generous (2500€/sqm), especially if the energy part is supposed to cost "only" 200,000€. But better that way than the other, and I would still recommend including at least a 10% buffer, something always comes up.

What exactly is included in the renovation calculation? 330,000€ for 130sqm actually seems quite generous to me (2500€/sqm), especially since the energy-related part is supposed to cost "only" 200,000€. But better that way than the other way around, and I would still recommend going in with at least a 10% buffer; something always comes up.

The architect did not make a detailed breakdown. He only gave the estimate based on a volume calculation. The sum of the pure construction costs is 260,000 euros – 15 percent additional costs (planning, building permit, etc.) were included – totaling 300,000 euros. In addition, there is a photovoltaic system with 10KW with storage costing over 30,000 euros, so that in the end the total amount comes to 330,000 euros. What stressed me a bit today is that the key interest rates have been raised again... so the loan interest rates are rising as well :(

What stressed me out a bit today is that the key interest rates have been raised again... so the loan interest rates are rising too :(

The long-term construction loan interest rates do not correlate with the key interest rate, so you don't have to stress about that. Look at the 10-year Euro SWAP and the construction interest rate curve from one of the major loan intermediaries – there you can see the real connection. In short – the key interest rate has steadily increased, the SWAP and construction interest rates have moved sideways – with fluctuations.

The long-term mortgage rates do not correlate with the key interest rate, so you don’t have to stress about that. Look at the 10-year Euro SWAP and the mortgage rate curve at one of the large credit brokers – there you can see the real connection. In short – the key interest rate has continuously risen, the SWAP and the mortgage rates have moved sideways – with fluctuations.

Banks can hardly sell that anymore either... nevertheless, currently you can at best get a fixed deposit offer from your bank for "new money" under 3%, but definitely no real estate financing with less than 75% equity.

Anyone who today seriously wants to predict where the loan rates will be in 2, 5, or 10 years, in the past this rabble was threatened with the stake... not entirely without reason, because no one then had or has magical powers...