Please provide assessments and tips for buying a house

Good evening,
my wife and I are planning to buy a two-family house in the southern Osnabrück district (close to the city: 8 km to the Osnabrück city center, good public transport connections).
We would be very grateful for your advice.

personal data:

[*]She: tenured teacher, 31 years old, €3,000/net
[*]He: tenured teacher, 28 years old, €2,600/net
[*]no children
[*]€40,000 equity capital (used for €40,000 incidental purchase costs (notary, property transfer tax, broker))
[*]additional savings (€5,000) available
[*]approx. €3,000 monthly fixed costs including housing ancillary costs, insurances (also risk life insurance), 2 cars, living expenses, private health insurance, etc.
[*]no further loans

property data:

[*]two-family house from 2002: 800 m² freehold plot (value €145,000), 280 m² living space
[*]according to official appraisal, the construction condition is rated "very good"
[*]garage, full basement, upscale fittings, decorative garden
[*]€495,000 market value --> €450,000 purchase price (kitchen and other furniture included)
[*]no significant renovation costs
[*]€600 future rental income (cold)

Among other offers, we have the following financing offer from Oldenburgische Landesbank:
loan amount €450,000
disbursed loan amount €450,000
30 years fixed interest period (fully paid off after 30 years)
5% special repayment

nominal interest rate 2.450%
effective annual interest rate 2.48%
initial repayment rate 2.260%
360 monthly installments €1,766

interest €185,892
repayment €450,000
total payments €635,892

Thank you very much for your advice and suggestions

And children are not planned? What do you want to do with 280sqm? That’s quite a sum over 30 years after all...

96 square meters are rented. Therefore also the above-mentioned rental income of €600 cold. The other approx. 180 square meters are for us, as we also need 2 offices, among other things. 1 child or 2 children are likely. But only in 3-4 years.

40k equity with 2,600 available free income? Does that mean you have only been saving for 15 months?

Did you send an appraiser into the property? Year of construction 2002 and no significant renovations? In 5-10 years, heating, roof, exterior painting could be expenses for you.

Market value = purchase price. Say goodbye to the 495k. If it were worth 495k, why are you buying it for 450k?

Otherwise, regarding financing, I would advise you to inquire with another broker.

Advice regarding what? Financing works - although I would rather choose a shorter fixed interest period and a lower interest rate and, if possible, higher repayment. Tenants are tenants... I hope that structurally it is such that you do not notice him. 2002 should still mean a few years of peace... but eventually, maintenance will start - especially with renting. Otherwise, information about the property is missing...

You can quickly google the property on Immonet in Georgsmarienhütte with the approximate details in the opening post. 2002 means country house style with terracotta and divided windows - which you don’t sell that quickly nowadays. Still looks decent, and if you like that... I would still have an expert take a look.