What to do with a lot of equity?

I will be relocating for work to another location, so a move is imminent.

I would first advise against buying a property!

For personal use, you should only buy if it is clear that you really want to live there. The additional costs are so high that buying only really makes sense if that remains the case ... Rent first!

For renting out, it is an investment decision; others should advise you on that! I only mention concentration risk, additional costs, and so on, and if I had 260,000 euros in the bank, I would rather buy stocks. (There are even stocks of real estate companies if you absolutely want to invest in real estate.)

Of course, this is only my non-authoritative opinion ...

I would advise against buying a property at first!

Staying there is definite. It is my hometown where I come from and where I lived until 4 years ago. I am very glad to be transferred there.

Buying stocks is out of the question, I have had a few smaller stock portfolios for many years and I find it too risky. The goal is to no longer have to pay rent.

Sure, a condominium is a completely different matter than a house. The idea behind it is not to have to finance a lot of capital anymore. It looks quite different with a house. Especially since it is also difficult to find affordable land.
Thanks for the links, I will continue to read up.

Best regards

The tax office might quietly smile to itself at "profitable".

If it was owner-occupied, no.

However, selling profitably is really not easy. We also bought a condo in 2012 and wanted a house at some point (5-8 years later). At the end of 2014, we got a plot of land in a new development area and had to sell the apartment again.

Including all additional costs and renovations, we ended up getting more than we paid, but it could just as well have gone differently. We had expected a loss.

And especially when the condo has a high price (>200,000€) and the whole thing goes through an agent (which it did not for us back then), it is unlikely to come out ahead with a profit after 1-2 years when there are initially 20,000€ of additional costs to cover. And especially new-build condos are currently often sold at a very high price but are likely to bring significantly less later.

I have deleted the links according to forum rules. Please do not post any links to external sites in the future.

Staying there is definite. It is my hometown where I come from and where I also lived until 4 years ago. I am very glad to be transferred there.

I also wouldn't buy a condominium first and then speculate on selling it at a profit.
How secure is the new job? Are you staying with your company or moving to a new one? Could another transfer be possible – possibly a "non-renewal" after the probation period in a new company?

To what extent you should build directly, in my opinion, also depends on whether you already have a plot of land in sight.
Is that the case – i.e., if things should start relatively quickly: Is there an option to temporarily live with the parents (possibly you would then just pay the rent to the parents)?
Then you would be accommodated for the time being, the money (as far as rent payment is due) stays in the family, and you spare yourself the stress of constant moving back and forth. In addition, various costs when buying a condo are avoided – real estate agent fees, registration in the land register, notary.

By the way – I had to swallow hard at the net worst case. However, since you currently pay 920 euros per month in rent, this can be used for financing (with an annuity of 5%, this results in approximately 220,000 euros possible loan amount).