Purchase project of an existing property in the northern suburban belt of Hamburg

Congratulations and much joy in your new home.

I just read it through again. In the end, I wrote nonsense...

After deducting the incidental purchase costs, we theoretically still have 13-15 K equity left. Since we like to be on the safe side and it was possible without a surcharge, we took out an additional 10 K on top of the purchase price. Maybe it's unreasonable, but it won’t be spent on cars, trips, or anything else - don’t worry ;)

And as a nice little bonus on top, we found out over the weekend that there is a small, unexpected gift from the family. We are really happy about that.

What we still need to do:
- Paint and/or wallpaper all walls
- Replace the floor in the living room (because we don’t like the current one)
- Buy a washing machine (we haven’t had our own so far, as there are shared machines in the apartment building)
- Buy a dining table and chairs
- Buy a sofa (which we need anyway)

Perspective (5-10 years):
- Renovate the bathroom and guest toilet (currently still completely fine, built in 2000)
- Renew the kitchen, as the currently installed Nolte fitted kitchen in beech looks a bit outdated

Otherwise, nothing substantial is planned here for at least 10 years. We also don’t have to worry about the heating, since it’s district heating. Efficiency class B according to the energy certificate should ensure very low additional costs overall.

And you simply get the 10K paid out to you?

Keeping my fingers crossed for you that there really is nothing else to do :)

Thank you :)

Yes, we are financing 100 k through the IB.SH (Immoeigentum, 15 Y fixed interest) and the condition is that you contribute 7.5% equity to the total costs of the project.
So theoretically, even 15 k extra would have been possible.

Basically, the area where the example house is located is more expensive than where we are looking. We are searching about 15-20 km from the city limits. The house in the example is closer and has a subway station 2 km away.

sounds like Hoisdorf. Congratulations on the other purchase.

sounds like Hoisdorf.
Congratulations on the other purchase.

Thank you very much :)

Yes, Hoisdorf.
Basically my "home".
I mostly grew up there, my mother lives there with my brother, my two best friends as well.
So I still go there often.

Now we just have to drive about 12 km instead of 6 km to get there - that's fine.