Solid house built in 1977 Project planning, experiences?

Hello everyone,
So far we have only been silent readers, but now we would like to seek advice ourselves.
We are interested in a solid house built in 1977 with a beautiful forest edge location and high-quality construction for that time.
The plot is nearly 17,000 square meters in size (most of it is forest).

Further data about the house
- 136 square meters of living space
- Kitchen like new and will be taken over
- Oil heating
- Wooden windows
- Fireplace
- According to the energy certificate, a demand of 157.1 kWh per square meter is calculated
Currently, there is a renovation backlog since nothing has been renewed since the construction.
The purchase price is €500,000 plus additional costs (the broker’s commission must also be included here).
In addition, we plan to take out another loan of €100,000 for the renovation.

Our starting position:
- Female 37 years old and male 41 years old
- No children, nor planned
- Household income €6,300 (special payments such as Christmas bonus, vacation pay are not included here)
- Equity €150,000 (stocks and overnight money)
- Planned surplus from house sale €300,000, which should flow directly as equity into the project
So far, we have carried out one viewing; a second viewing will take place shortly with the involvement of an expert on energy issues.

Now we rely on your experiences to get neutral assessments from outsiders.

How realistic is a renovation budget of €100,000 plus €150,000 as a buffer for our project?
Items that absolutely must be done are:
- New windows, new doors
- New heating, including new radiators
- Bathroom renovation
- Replacement of the floor covering on the upper floor, about 65 square meters

How realistic is a loan of about €350,000 with our conditions?
What must/should we absolutely pay attention to?

Critical comments are also welcome.

Thank you very much for your help and for sharing your knowledge.

Currently, there is a backlog of renovations because nothing has been renewed since the building was constructed.

136 square meters of living space

Then it is not a backlog of renovations (like a new coat of paint, a new interior door, or something similar), but a backlog of refurbishment (new heating, new windows, further energy-related measures, new electrical installation, new bathrooms, new roof (?))
For a comprehensive refurbishment, you can calculate about 2,000-3,000€/sqm of living space.

With the 100k you have planned, you can do a few things, and with the buffer included, it will be really good. But you do need the buffer as well.

Regarding financing. The risk of not getting a loan over 350k is 0%. You can really get that everywhere.
Whether you can afford it personally, I don’t know. It depends on whether you can manage with 4,500-5,000€ for monthly living expenses or not. For some, that is extremely tight; for others, not.

P.S. Contractual bonus payments are, by the way, entirely normal income and are fully counted towards the monthly income. And yes, of course, you can also repay at a higher rate than 1.5-2%. You have more than enough money there.

Thank you very much for your feedback. Of course, [Sanierungsstau] was meant, thank you. I initially aimed for 2% repayment. This makes the rate about twice as high as for our current house, but we should still be able to manage it well. The most concern I have is about the topics of roof and facade renovation and how the expert will comment on them regarding the property. Whether something needs to be done there or not. The roof is currently covered with slate.

Facade only at the very end. It is the least important part. Not decisive even for a WP.

Solid house built in 1977 [...] since nothing has been renewed since its construction.

That's 48 years - in other words: according to the rule of thumb, you can at most upgrade it to the year of construction 2001 without it becoming more expensive than a new building. Personally, I could handle sanitary ceramics in moss green or Bahama beige, but I would have a problem with the Wife Acceptance Factor.

- 136 square meters of living space [...] - Replacement of the flooring on the upper floor about 65 square meters

Does that mean equipping an expansion reserve for the first time with a non-storage room flooring?

Does that mean to equip an expansion reserve for the first time with a floor covering other than a storage room?

That certainly means replacing the carpet in the attic with a modern and clean-looking one.