Zinspoker - Long term or short term?

As I think about it: 1700€ loan 1000€ heating costs 300€ other ancillary costs Makes 3000€ per month "warm rent" at the bank. Rent because it is only repaid at 1%. And that with over 100,000 equity invested. What do you usually get for 3000€ warm rent in your region? But if the location of the house is worth the money to you personally, then just do it.

News from us or why not everything is as bad as it is made out to be.

The owners are now willing to sell for 530,000 after negotiations.

In the meantime, we had an appointment with an energy consultant and a renovation surveyor who is a friend.

An energy demand of about 5700 to 5800 liters of oil for 2 people was calculated for us (the owners have 3 children) without additional measures.
We were only recommended to replace the windows, which is expected to save 15 percent. Costs or an offer amount to 35,000 €. Otherwise, BOTH advised us for the time being not to carry out any further measures. Quote: “Sit it out and wait to see if the market calms down again. People are going crazy and panic, which currently makes renovations irrationally expensive. In 12 months think about facade insulation, in 2 years about a heat pump. Fill up oil tanks and heat sparingly, be happy.”

Both expect that the windows will place us at a demand of 5000 liters, which means we will be well below the 1000 euros mentioned here.

That is now the plan. Windows now, facade in summer, heat pump 2025.

The house will thus cost all-in about 600,000, equity will be increased to 150k. That means a loan of 450,000. We take a 2% repayment rate and finance further renovation through savings and sale of assets.

I can understand that there is a bias against old buildings here, after all most here have built new. Therefore, I am glad to have gone through this with experts on site.

Ah yes, the rate at 2% is now at 1900.

Well, that’s a reasonable plan, very nice.

I can understand that there is a bias towards old buildings here, after all most people here have built new.

I don’t think we have a bias against old buildings here. I have extensively renovated myself.

The thing is, everything you don’t do before moving in often never gets done. For many reasons. It starts with the fact that new financing is much more expensive (due to second lien etc.), you hardly install new radiators or even a new underfloor heating when you already live there. That’s why I always say, do everything upfront. You won’t get a cheaper loan than now. It might be that the facade costs €10,000 less in the summer, but then the loan will be more expensive.

Your advantage is the comparatively high income, which (hopefully) is secure. With so much liquidity in the background, you can still renovate step by step.

We were calculated an energy demand for 2 people of about 5700 to 5800 liters of oil

For the entire house, or is wood added on top again because only the fireplace is downstairs?

For the whole house, or will there be wood on top again, because there is only the fireplace below?

Thank you, that's true, one should have a precise schedule and feasible measures. For the whole house 5800 l.

Both expect that the windows will place us at 5000 l demand, which means we are well below the 1000 euros mentioned here.

That would still be 700€ per month at the current daily rate. Admittedly, this might be the wrong season for a heating oil delivery, but the rising CO2 prices remain. Facade insulation and a new heating system are the right course of action.

and finance the further renovation through savings and sale of assets.

But if you can afford that from your savings, then really do it before moving in.