Single-family house from 1950 with backlog of renovations "Charm of the 50s" - renovation costs

I'm just brainstorming briefly, could this roughly fit? Property - 550k Purchase incidental costs - 50k Renovation - 250k ---> does it always make sense to finance this through KFW / Bafa and finance it separately? Keyword funding etc. Equity - 150k (plus buffer) (there is also a building savings contract: 100k filled to 30%, with about 2.5% loan interest (we secured that years ago), no idea how best to incorporate something like that monthly rate around 2500 euros plus (house reserve, insurances and ancillary costs) 800 euros = 3300 euros Before I go to the advisor, I wanted to ask here first... ;)

I am not a financing expert, but you want around 700k loan (excluding building savings contract)? If the location is so prime, then your salary should be as well. How did you calculate the repayment? How much repayment at what percentage? I still maintain, for Lower Saxony I find the house really expensive

I’m not a financing expert, but you want around 700k loan (excl. building savings contract)? If the location is that prime, then your salary should be as well. How did you calculate the repayment? How much repayment at what percentage? I still think the house is really expensive for Lower Saxony

The annuity doesn’t fit. I suspect it was calculated with 3% interest and a hefty 1.3% repayment = 4.3% * 700k = 30.1k p.a. = 2,500€ That’s not how the financing works. I’m curious about the calculation of the thread starter...

I am not a financing expert, but you want around 700k loan (excluding building savings contract)? If the location is that prime, then your salary should be as well. How did you calculate the repayment? How much amortization at what percentage? I still think, for Lower Saxony this house is really expensive

My idea was to take the house including additional costs minus equity as a classic loan and to cover the renovation needs through KFW. So loan about 1900 euros (amortization about 2% / loan about 3.5%) + 600 euros KFW

Before I go to the consultant, I wanted to ask here first... ;)

Since you have now been in the house, I somehow expect some photos of the facade, windows, bathrooms, and floors here. Possibly heating and electrical cabinet. Show us!

Somehow, the topic won't let me go...

I read from your posts that you want to have the house. The location is so important to you that you are roughly willing to pay 100k more for it. And the house itself seems to appeal to you.

I see two sticking points: the renovation costs – if you hardly contribute any personal effort and carry out a complete renovation, then the 250k can really become tight. Today, I happened to come across a similar question in a house and renovation group on a social platform that should not be named here. There, 400k was cited so often that you would be amazed. Certainly also lower prices, but mostly with substantial personal effort (such as electrical work), or a few years ago. However, none of these statements is representative (similar to here).

--> In short, I would go through the house with an expert who also has the current prices in your region in view.

Second point: Gut feeling tells me that the loan itself is very high and the monthly payment doesn’t quite fit? But the pros like or (was that the correct username? There are so many users with numbers attached...) should maybe take another look.

Have you also considered KFW? Regarding the renovation.
Is your plan to invest 200K euros for the trades "what shall we do"?

No, for us only BAFA, meaning individual measures, came into question.

I would also like to know the exact amount it will come to for us ;). Roof, heating (both including subsidies) + electrics come to about 90/100K. For everything else, we have planned another +-125K.