RowanHayes
Tenant planning to buy
We’ve had an offer accepted on a 5-bed duplex in Paris at €1,201,000 after repeatedly losing out to cleaner offers. Once the deposit and estimated closing costs are paid, we expect to have about €15,640 in cash left.
That feels tight if the inspection identifies ordinary first-year work, especially once we include moving costs, service charges, insurance excess, the first mortgage payment and basic furniture. We do not intend to furnish every room immediately, but we also do not want each small repair to become a financial emergency.
For buyers who faced a similar calculation, how would you divide €15,640 between an untouchable emergency fund, moving, immediate repairs and furniture? Which inspection findings would make you renegotiate or walk away rather than simply adjust those amounts? I’m wondering whether we should proceed with this buffer or buy slightly below our maximum.
That feels tight if the inspection identifies ordinary first-year work, especially once we include moving costs, service charges, insurance excess, the first mortgage payment and basic furniture. We do not intend to furnish every room immediately, but we also do not want each small repair to become a financial emergency.
For buyers who faced a similar calculation, how would you divide €15,640 between an untouchable emergency fund, moving, immediate repairs and furniture? Which inspection findings would make you renegotiate or walk away rather than simply adjust those amounts? I’m wondering whether we should proceed with this buffer or buy slightly below our maximum.