What insurance and other costs are there besides the loan installment?

Hello,

I have never bought a house before and am considering buying an older house with my brother (both in our early 50s, no dependents).
To be honest, I lack an overview of which insurances and other regular additional costs need to be taken into account regarding the total monthly burden. Does it make sense to take out a term life insurance at the age of around 50, is that even still possible, and do pre-existing conditions play a role? Do you have to release all doctors from confidentiality as with occupational disability insurance, and what would it pay out in case of emergency?
Which insurances are necessary for the house itself, and what do you pay for them?
Maybe you can bring some clarity to the darkness.
Thank you very much.

which insurances

All insurances that you already pay for your apartment / house now.

other regular additional costs

All costs that you already pay for your apartment / house now.

Does it make sense to take out a term life insurance around the age of 50, is that even possible and do pre-existing conditions play a role?

What do you want to achieve with the term life insurance? Otherwise, my answers: Maybe, yes, yes

Do you have to release all doctors from confidentiality like with a disability insurance and what would it pay in case of emergency?

Yes. And what would it pay? It pays out the sum insured in the event of the insured event (= your death). What else should it pay? It is a life insurance and nothing else.

Which insurances are necessary for the house itself and what do you pay for them?

All insurances that you already pay for your apartment / house now. Depends on the value of the property and your wishes. There is a huge range from - to.
The 80 sqm bungalow (new build) is much cheaper to insure than the 380 sqm unrenovated old building. And all-inclusive insurances with every little extra are significantly more expensive than minimum requirements.

I am a tenant and apart from private liability and legal expenses insurance, I have no insurances that could be related to a building. That will hardly be enough for an own building, what else absolutely needs to be taken out? It is about an older house worth approximately 200,000 euros in a sought-after small town (25,000 inhabitants). Are there deadlines regarding how far back pre-existing conditions play a role when granting a risk life insurance?

I am a tenant and apart from personal liability insurance and legal protection insurance, I have no insurance that could be related to a building. That will hardly be enough for a property of your own, what must definitely be taken out? It is about an older house worth around 200,000 euros in a sought-after small town (25,000 inhabitants).

Yes, as a tenant you do pay one or more insurances for the house. They appear every year on your service charge statement. Usually the building insurance (e.g. fire, storm, etc.). From your side, additional contents insurance or glass insurance. Building insurance, liability, and contents insurance are the insurances that are basically a MUST. What the cost ultimately is depends on your specific wishes for the coverage of each insurance. Usually somewhat more expensive than for an apartment rental.

Are there deadlines until when pre-existing conditions play a role in granting a term life insurance?

With term life insurance, you secure your partner or survivors in case of death. For 200,000, so if you take out a 100,000€ loan, in my opinion it is not worth it. Otherwise, building and household insurance. You don't need more. If you have no household contents or if these are very manageable, you don't even need those.

For a house costing 200k, there is certainly a lot to renovate. Accordingly, more money will be needed. I would not base the question of the life insurance solely on the house price, but rather consider what would happen in the event of a case. What income does the partner have? Is the partner even interested in living alone in the house? The original poster has no children, but they should also be considered in the decision. Such a degree also costs the parents a lot of money. How long should the risk be covered and what does that cost? The older the age, the more expensive it gets. 14% of 50-year-old men do not reach statutory retirement age, the insurance company knows this too and calculates corresponding contributions.
Tendentially, I would say that life insurance is dispensable here.

Are there deadlines by which pre-existing conditions play a role in the granting of risk life insurance?

There are simplified health questions if you take out life insurance in connection with a real estate financing. How this looks specifically varies from insurer to insurer. In more complicated cases, it is worthwhile to hire an insurance broker who knows which insurers are a bit more lenient in the specific case.