Purchase opportunity single-family house from the 80s - risk?!

If you don’t buy it, someone else will. Period!

Whether a coveted location or not: there will ALWAYS be someone who can outbid even an outrageous price from petty cash (and some of them do). Anyone who lets themselves be provoked by this will always damage their own purchasing power. In a free country, of course, anyone can be the fool for as long as they want and even enjoy it; that is not punishable either.

So now an update: we have received the offer or rather the assessment from the real estate agents: 570,000. I simultaneously got a brief evaluation from our financial advisor. He can access a real estate portal (Keine Ahnung wie das heißt). It came out that the value is approximately 590,000. However, it was dated 1.1.2022. But yes, the location is so good that the price is possibly justified. According to my calculations, I would have liked to pay just under 500,000. Now the question: should we speculate or take the plunge? The seller said that there are two other interested parties. Whether that is true and whether the price or the amount is correct, we do not know. And now?! :-)

Interesting. That could also be my thread :)

What I can tell you from current experience:
If you don’t buy it, someone else will. Period! Always assuming no dump, no bad location, etc.
Yes, prices are high, interest rates are rising.. but properties in desirable locations still get sold...

It’s the same here. Single-family house from ’87 - unfortunately with an agent. All good for us :) except the price :D But what can you do?! I have been (and still am) racking my brain almost every day... Yes, no?! Not a bargain, plus high interest rates.

Almost the end of the story: next week is the notary appointment (that reminds me, I should update my thread :)

Good luck :)

May I ask what you currently feel confident with:
So your purchase price at what rate and income?
Thanks

From my own experience. if it suits you (I hear the situation is perfect for you?) then buy. It was exactly the same with us. We were also told there are interested parties (there are always some) :D But interested parties are not directly buyers. In our case, however, there really was someone else. My advice. if everything fits, go for it.

If you feel like it, check here -> this is the thread about the house.
https://www.hausbau-forum.de/threads/efh-aus-1987-bewertung-zum-preis-und-den-noetigen-arbeiten.43950/

and here the topic money
https://www.hausbau-forum.de/threads/neue-rate-doppelt-so-hoch-erfahrungen.44366/

If you feel like it, check here -> this is the thread about the house. https://www.hausbau-forum.de/threads/efh-aus-1987-bewertung-zum-preis-und-den-noetigen-arbeiten.43950/ and here the topic money https://www.hausbau-forum.de/threads/neue-rate-doppelt-so-hoch-erfahrungen.44366/

Well, your starting situation is of course not comparable :) we can’t keep up with that. I do have relatively good equity, but whether it lasts long, I don’t know. We’re having a financing appointment next week. And we’re also going through the house with an acquaintance (who was an appraiser, now retired).