Purchase of a small settlement house from the 50s

Is a nice property to start with. Not too expensive and easy to finance. Comparable to a condominium.

It's a nice property to start with. Not too expensive and cheap to finance. Comparable to a condominium.

I thought so too. I just feel sorry for the interested parties that the interest rate is where it is.
If the interest rates were still at 1.4 or so, you could easily have started with 4-5% repayment. :/

So there is always the risk that property prices will fall after all and that there will be hardly anything left when selling after a few years, because of low repayment due to the interest rate, and possibly depreciation.

It is a nice property to start with. Not too expensive and easy to finance. Comparable to a condominium

And how would you deal with our dilemma regarding the prospectively too small living space?

And how would you deal with our dilemma regarding the prospectively too small living space?

Just take a bigger loan and expand the place. Of course, this only works if space, layout, and development plan allow it. That’s why everyone is waiting for the site plan, development plan, and floor plan (please don’t forget the first one – a sketch will do too). :)

I see this as a transitional property also (unfortunately) very skeptically. Because as mentioned above, the probability is not exactly small that poorly insulated houses with oil heating, which also don't have the right target group (families go for houses over 120m2 and retirees look for apartments around 80m2 on one level), are hard to sell. Who is supposed to buy such a house in a few years? Let's be honest, if the OP renovates it extensively (100k?), they could just buy a nearly new condo with 80m2 and 3 rooms (which are increasingly coming onto the market here, sometimes even with financing takeover at 2%, but the question to you experts is, is that even possible?). So don't panic right before the end and buy a house that might only be worth 180k in 5 years! Better to wait until a suitable property comes along for you, where you don’t end up with a guaranteed loss in value upon purchase but can at least be sure that the value of the house will remain stable over the years (i.e. younger construction <20 years and better insulated).

And how would you deal with our dilemma regarding the prospectively too small living space?

1. The way I always deal with it. I buy what I need. If I need something new, I buy something new. I started in my early 20s with a small condominium. Now I live in my fifth property – always matching the life situation. 2. Make everything fit. So build on directly. 3. Hope that everything gets better. So wait and search. But then buy something for half a million? Can you do that? Will you be able to do that in five years with 4% or more interest? You have the choice.